DOMINION MINING LIMITED
Excellent Results and Strong Cash Position Despite Cost Increases
DOM - Dominion Achieves a Net Profit of $33.4 Million and Increased Dividends - Mr Jonathan Shellabear, MD and CEO
Thu, 4 Sep 2008 09:00AM
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Mr Jonathan Shellabear
Thu, 4 Sep 2008
09:00AM Australia/NSW
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DOMINION MINING LIMITED (DOM)
ASX code: DOM
Website: http://www.dml.com.au/
Industry: Materials
Principal Activities:
Mineral exploration, project evaluation, metuallurgical testing & technology development within the mining industry.
Address:
15 Outram St
WEST PERTH
WA
Phone: (08) 9426 6400
Fax: (08) 9481 1378
Executives & Directors
Mr Peter C Joseph , Chairman, Non Exec. Director
Mr Jonathan Shellabear , Managing Director
Mr Ross A Coyle , Executive Director, CFO
Mr Peter Alexander , Non Exec. Director
Mr John Gaskell , Independent Director
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Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
DOMINION MINING LIMITED (DOM) Events
Australia/NSW
DOMINION MINING LIMITED (DOM)
| Quarterly Activities Report | Tue, 28 Oct 2008 |
| Notice of Annual General Meeting/Proxy Form | Wed, 22 Oct 2008 |
| Annual Report to shareholders | Wed, 22 Oct 2008 |
| Full Year Statutory Accounts | Tue, 30 Sep 2008 |
| Change of Director`s Interest Notice | Fri, 26 Sep 2008 |
| Ceasing to be a substantial holder | Fri, 19 Sep 2008 |
| Appendix 3B | Mon, 15 Sep 2008 |
| Becoming a substantial holder | Thu, 11 Sep 2008 |
| Preliminary Final Report | Thu, 28 Aug 2008 |
| Response to ASX Request: Resource/Reserve Statement | Thu, 28 Aug 2008 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH JONATHAN SHELLABEAR, MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER OF DOMINION MINING LIMITED (DOM)
“Excellent Results and Strong Cash Position Despite Cost Increases”
http://www.brr.com.au/event/50847
THURSDAY, SEPTEMBER 4, 2008, 9:00 AM.
BRR Good afternoon and welcome to Boardroomradio. Today, we’re talking to Jonathan Shellabear, Managing Director of Dominion Mining Limited. Good
10 morning, Jonathan, thanks for joining me today.
DOM Good morning.
BRR Jonathan, Dominion has reported a net profit of $33.4 million despite significant cost increases. Can you tell me a little bit more about what was
15 driving this result?
DOM Well, on the revenue line, obviously our revenue increased by 98% year-on-year, and that was principally driven by increase in the average price received for the year of $872 an ounce as opposed the previous year which was $744 an ounce. So revenue line obviously increased but our cost line increased
20 pretty much commensurate with that. Our cash operating cost increased by about 98%, by the year an average $367 an ounce which compared to the previous year was $309 an ounce but not withstanding the cost increases over the year it was a pretty good result recently in the mining environment.
25 BRR Okay, I see you’ve reported a strong increase in (inaudible) (00:01:04) bullion. Can you give me some more details about this and what it means to Dominion?
DOM Well, our cash position has increased year-on-year over the last three years. Obviously, we’re generating free cash flow, we paid dividends obviously and
30 some of that cash position will be paid to shareholders in a dividend. We actually go x dividend in the next five days and we’ve increased our dividend to 8 cents a share. So a little bit over $8 million of that cash will be paid in the dividend. That’s a very good position to be in producing free cash.
35 BRR And finally, in terms of outlook what can investors expect to see from Dominion in the near term ?
DOM In terms of the Challenger operation, production will be a little bit over 100,000 ounces this year . Expect the first half cash cost to be higher than the second half. We’re looking at cash cost in the first half of this year to be
40 about A$440 principally as a result of no (inaudible) (00:2:09) from the M2 which is lower grade. In the second half of this fiscal year, cost should fall below $400 an ounce.
BRR Jonathan, thanks for speaking with me today. Listeners, that was Jonathan
45 Shellabear, Managing Director of Dominion Mining Limited. If you have any questions for Jonathan or you would like more information about this broadcast, please e-mail brr@brr.com.au. Thank you for listening to Boardroomradio.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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