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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (34450)	2/28/2007 9:50:18 AM
From: LoneClone	Read Replies (1) \| Respond to of 78422

Sally Malay half year profits up fourfold to A$32.7mln Source: WA Business News metalsplace.com Perth-based nickel sulphide producer Sally Malay Mining Ltd has increased its first half net profits by 330 per cent to A$32.7 million, even after including a A$23.1 million pretax writedown on its hedge book, helped by the company's growing Lanfranchi project and rises in the nickel price. Company earnings increased to 17.7 cents per share, with a pre-tax cash flow of A$39.8 million, a new record for the company. Sally Malay is on track to produce on an equity basis 12,400 metric tons of contained nickel this fiscal year, if achieved a 30% gain on actual output of 9,531 tons last fiscal year, rising to 15,600 tons next fiscal year ending June 30, 2008, Harold said. The company plans to access additional ore from the high-grade Winner deposit at Lanfranchi from August, and in later years further increases from the Deacon deposit at Lanfranchi and the proposed development at the 60%-owned Copernicus project.