CGA:CA announced the preliminary financial results for the year ended 30 June 2010. Total revenue stands at US$158 million, with net cash at $45.8 (up $131 million from 2009), and borrowings at $63.4 million (down $45 million from 2009).
The first year of operations realized a maiden operating profit from the Masbate Gold Project, the largest gold project in the Philippines.The financial position at year end reflected a material improvement from 2009, with a significant increase in cash, and a material reduction in debt.
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