Dragon Mining anticipates significant profit increase for 2024

Dragon Mining Limited (HKEX: 1712) has announced it expects to report a net profit ranging between AU$12.2 million and AU$13.3 million for the year ended December 31, 2024. This represents a significant increase compared to the AU$5.2 million net profit after tax recorded for the previous year. The anticipated profit surge is primarily attributed to higher average gold prices realized throughout the reporting period and a positive contribution from toll treatment of gold bearing ore from Botnia Exploration Ab. The company also expects to report lower production-based depreciation and amortisation charges. A net gain from the cancellation of a Crusher agreement and recognition of the fair value gain in the company's Aurion Resources holding contributed to the increased profit. The final results are yet to be audited and are scheduled for release in March 2025. Shareholders are advised to exercise caution when dealing in the company's shares.