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Business Description: Unity Mining Limited (UML) is a gold explorer and producer which owns and operates the Henty Gold Mine in Tasmania and is developing the Dargues Gold Mine in New South Wales. UML is also involved in gold exploration in West Africa through its investment in GoldStone Resources Limited and holds tenure over the Bendigo Goldfield in Victoria.
Strategy Analysis: The Company's goal is to be a successful mid-tier gold mining company, operating multiple mines. It's aim is to build a growing production base over the next five years creating multiple businesses by discovering and developing new gold reefs in the Bendigo Goldfield, exploring Bendigo regional targets to discover new economic deposits, and acquiring new projects.
Unity Mining reported net loss of $7.35m for the half-year ended 31 December 2012. Revenue from ordinary activities were $29.79m, down 34% from last year. Basic and Diluted EPS were (1.5) cents compared to 1.8 cents last year. Net operating cash flow was $565,000 compared to $12.99m last year. No dividend was declared.
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