KCN 0.53% 93.5¢ kingsgate consolidated limited.

"brings the bacon home"

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    KINGSGATE EXCEEDS EXPECTATIONS
    Kingsgate Consolidated Limited today announced its June 2003 profit of A$47.3 million
    (US$27.6 million). It produced 154,484 ounces of gold at a cash cost of US$94 per ounce.
    Kingsgate Directors declared a final dividend of 12.5 cents/share making a full year dividend of
    25 cents/share. earnings are $0.65 share
    Kingsgate’s recent exploration activity has encountered several significant intersections in areas
    surrounding its existing operation including an extension to the H orebody, that is being
    developed as a priority. It has also increased its exploration tenements to approximately 1,200
    square kilometres.
    On the back of its recent exploration successes, Kingsgate also announced the appointment of Dr
    Marcus Tomkinson (ex AurionGold and Normandy) as General Manager Exploration to head its
    escalated exploration efforts.
    Managing Director Steve Reid said it was an extremely pleasing result for the Company’s first
    full year of operation.
    “We plan to continue with a program of focused exploration and cement our position as a
    significant and profitable gold producer with strong growth potential”, he said.
 
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