StockMarketWire.com - Highland Gold Mining net profit rose to $66m in the year to the end of December, from $48m the previous year amid higher gold production and an uptick in gold prices.

The miner produced 272,274 oz of gold and gold equivalent in 2017, up from both 2016 production of 261,159 and the guidance range for the year of 255,000 to 265,000k ounces.

The average realised price of gold equivalents rose to $1,162 an ounce from $1,136 per ounce the previous year.

Total cash costs increased by 11.7% to US$507 per ounce amid stronger rouble, while all-in sustaining cash costs inched up by 1.8% to $664 per ounce.

Net debt to EBITDA ratio slightly increased to 1.28 as of 31 December 2017 from 1.26 a year earlier.

A second interim dividend of £0.0542 per share was approved, taking the total dividend for the year to £0.104 per share.

Highland said it expects to gold and gold equivalent production in 2018 to be in the range of 265,000 to 275,000 oz.
















At 10:16am: [LON:HGM] Highland Gold Mining Ltd share price was +3.25p at 142.25p



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