StockMarketWire.com - Gold mining company Highland Gold Mining reported a rise in first-half profit as higher gold prices boosted performance.

For the six months ended 30 June 2020, pre-tax profit rose to $63m from $56m on-year as revenue increased to $194m from $174m.

Production totaled 124,294 oz of gold, down from 142,254 ounces, but in-line with internal production targets, the company said.

The company sold 121,016 ounces of gold and gold equivalent, compared with 142,609 ounces in H1 2019.

'Highland Gold had a positive first half of 2020 despite the ongoing global pandemic, buoyed by strong gold prices and continued progress at our operating mines and on each of our key development goals for the year,' the company said.

'From an operational standpoint, our mining plans for this year are weighted towards the second half and we maintain our production guidance for the year,' it added.





At 9:32am: [LON:HGM] Highland Gold Mining LD share price was -1.5p at 294.5p



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