Annual Reports, Half Yearly Results and related publications.
Half Yearly Results 2008 – Highlights
- Record net profit after tax of $1,309.7 million, 74 per cent higher than for the 2007 financial half year.
- Substantial proceeds raised from the sale of Zinifex’s zinc and lead smelting operations to Nyrstar SA/NV (“Nyrstar”) contributing $960.6 million to net profit and $1,785.0 million of cash.
- Zinifex’s ongoing business, the Century and Rosebery mines together with its exploration and development activities, contributed a profit of $281.2 million, 43 per cent lower than the corresponding period last year.
- Cash held increased six times to more than $2.2 billion at 31 December 2007.
- Announced a dividend of 35 cents per share, fully franked payable on 21 April 2008. The record date for entitlement to this dividend is 7 April 2008, and the ex–dividend date will be 1 April 2008.
- Excellent production performance with zinc output 8 per cent and lead output 12 per cent higher than the previous comparable half-year.
- Sharply lower zinc prices and a stronger Australian dollar more than offset increased sales and substantially higher lead prices to negatively impact revenue from continuing operations by 27 per cent to $788.6 million compared with the prior half-year.
- Substantial progress made on Zinifex’s long-term strategy including:
- Launching an offer for Allegiance Mining NL. Allegiance owns the Avebury nickel project in Tasmania which is due to commission shortly.
- Drilling at Rosebery mine continues to deliver extremely promising results raising expectations of a material increase in the resource at Rosebery when the new resource statement is completed later this year.
- The Dugald River feasibility study is on track to be delivered towards the end of 2008. Work so far indicates all key measures, including costs, continue to be within expected ranges. In addition the potential to produce copper is being investigated.
- Drilling at the Silver King deposit near Century has more than doubled the extent of mineralisation beyond the original resource with some very high grade lead, silver and zinc intersections.
- Exploration and development expenditure trebled to $36.7 million for the half-year.