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2008 Annual Reports |
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"I am very pleased to inform shareholders that Bisichi made a record profit before tax in 2008 in excess of £6.0 million (Realised) (2007: £2.3 million). As £5.1 million of this profit was made in the second half of 2008, at a time when international commodity prices were tumbling, the year’s success can be attributed to the advent of open cast mining at Black Wattle combined with strong performance from the existing underground sections. In contrast to many mining companies around the world, the financial position of Bisichi has never been stronger.
The commencement of open cast mining at Black Wattle Colliery in April 2008 fundamentally changed the profitability profile of the mine. In addition to improving yields and product quality, open cast mining also allows us to mine much more flexibly, adding or reducing production promptly when necessary. As a result of the open cast mining, we have been able to increase monthly production to a regular 130,000 metric tonnes per month. We are presently finalising applications to the Department of Mineral and Energy (DME) for the opening up additional areas to mine open cast." ....
Full chairman's statement
Michael Heller, Chairman
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warning to shareholders |
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The FSA have recently issued a warning to shareholders regarding boiler room scans. Click here for details.
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