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December 17, 2007 |
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EMPEROR MINES: June 30 Balance Sheet Upside-Down by AU$59.6 Mil. Emperor Mines Limited reported a net loss of AU$237.05 million for the year ended June 30, 2007, almost ten-fold its reported net loss of AU$27.22 million for the year ended June 30, 2006. The company's reported net loss for the year ended June 30, 2005, was AU$1.30 million. As of June 30, 2007, the company reported a capital deficiency of AU$59.56 million on total assets of AU$163.49 million and total liabilities of AU$223.05 million. The company produced gold from three separate operations during fiscal 2007: * The Vatukoula Gold Mine in Fiji (100% owned) produced 26,910 ounces until its closure on Dec. 5, 2006; * The Tolukuma Gold Mine in Papua New Guinea (100% owned), which produced 44,181 ounces; and * Emperor’s interest in the Porgera Joint Venture in PNG (20% owned), which realised 71,570 ounces until its sale on Apr. 1, 2007. The company's annual report is available for free at: http://bankrupt.com/misc/emperorminesannual.pdf Sydney, Australia-based Emperor Mines Limited -- http://www.emperor.com.au/ -- is engaged in the exploration, development and mining of gold deposits. The company principally operates in Papua New Guinea, Fiji and Australia. |
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