Western Areas Announces Profits $24.1 Million

Western Areas (TSX:WSA,ASX:WSA) announced a Net Profit After Tax  of $24.1m for the six months to 31 December 2011.

As quoted in the press release:

Highlights for first half FY2012 include:

• Excellent cost and operational management resulting in unit cash costs of A$2.17/lb (nickel in concentrate), compared to A$2.27lb for the previous six months;
• Record mine production in the December quarter resulting in 16,230t of nickel mined for the six month period;
• Revenue from nickel sales was A$149.1m, on Earnings before interest and tax (EBIT) of A$52.8m

Click here to read the Western Areas (TSX:WSA) press release.