MinRes signs off on transformational year with $165m full-year profit, positive outlook

Leading mining services company Mineral Resources (ASX: MIN) has signed off on a transformational year with a $165 million net profit for the year to June 30, built on revenue of $1.5 billion from its mining services and lithium and iron ore businesses. The profit included normalised earnings before interest, tax, deprecation and amortisation of $433 million, above the guided range of $360 million to $390 million. Directors declared a 31c per share fully franked final dividend. Managing director Chris Ellison described the past year as the most significant in the company's history because it had set MinRes up for long-term growth.

S2 Resources flags potential gold discovery at Aakenusvaara prospect

S2 Resources (ASX: S2R) has intersected numerous zones of sulphides, alteration and brecciation in its first seven diamond holes drilled down dip and along strike from historic gold intercepts at the Aakenusvaara gold prospect. Assays are awaited for these intercepts, which are visually similar to those in limited historic near surface drilling undertaken by Outokumpu.

Gruyere mill ramp-up progress: Gold Road

Gold Road Resources (ASX: GOR) and Gold Fields have reported progress on the commissioning of the Gruyere process plant, with safe, steady state operations of the comminution circuit achieved for the 96 continuous hours. This forms one of the main criteria for Practical Completion for the EPC contractor under the construction contract.