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tasmania mines ltd (TMM) Snapshot

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04/3/14 - A$2.00
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tasmania mines ltd (TMM) Details

Tasmania Mines Limited, together with its subsidiaries, explores, produces, and sells magnetite and scheelite primarily in Australia. It is involved in the mining, crushing, and concentration of scheelite and magnetite from the Kara Mine in Tasmania. The company sells scheelite for the production of specialty steel in Europe, as well as for use in the lighting Industry in the United States; and magnetite for use as a dense medium to wash coal in Australia. Tasmania Mines Limited is based in Hampshire, Australia.

20 Employees
Last Reported Date: 02/27/14

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tasmania mines ltd (TMM) Key Developments

Tasmania Mines Ltd. Announces Operating Results for the Second Quarter of 2014

Tasmania Mines Ltd. announced operating results for the second quarter of 2014. The company reported during the quarter, production of dense medium magnetite for use in coal washeries continued. Mining from Kara No.1 continued during the period with 101,425 tonnes of ore mined from the Kara No.1 pit and delivered to the concentrator plant stockpiles. In addition, 170,217 tonnes of overburden was removed. During the period, the concentrator plant treated 102,063 tonnes. A total production of 56,506 tonnes of dense medium magnetite were achieved. Exploration Exploration drilling on the Kara Mine Lease continued during second quarter of 2014. Spaulding's Drilling contractors continued drilling the Kara No 1 Western Limb completing a further 4 holes (K1113 to K1116) for a total of 449m. All holes intersected high grade magnetite mineralization adding significantly to the resource in this area. Patchy scheelite mineralisation was intersected on the western limb of the syncline. Confirmatory drilling was completed in the SE of the Kara No 1 pit involving 5 drillholes (K1117 to K1121) for 274.3m. The drilling has confirmed the presence of magnetite mineralisation under the waste dumps and in the pit wall in the SE corner of the Kara No 1 Pit. Sporadic low grade scheelite mineralisation is associated with the magnetite. The rig moved to the Kara No 2 Deposit on RL1/2012. A total of 6 drillholes (KE001 to KE006) were completed for a total of 397.9m. All holes intersected magnetite mineralisation with the thickest intersections to the south. Drilling is due to be completed early in third quarter.

Tasmania Mines Ltd., Annual General Meeting, Apr 11, 2014

Tasmania Mines Ltd., Annual General Meeting, Apr 11, 2014., at 11:00 AUS Eastern Standard Time. Location: Level 33, Aurora Place. Agenda: To receive and consider the financial report of company for the year ended December 31, 2013; to receive and consider the remuneration report; to elect a director; and to transact any other business which may be brought before the meeting in conformity with company's constitution.

Tasmania Mines Ltd. Reports Audited Consolidated and Parent Earnings Results for the Year Ended December 31, 2013

Tasmania Mines Ltd. reported audited consolidated and parent earnings results for the year ended December 31, 2013. For the year, on consolidated basis, the company reported revenue of AUD 48,349,000 compared to AUD 41,174,000 for the same period of last year. Profit before tax was AUD 8,764,000 compared to AUD 6,207,000 for the same period of last year. Net profit was AUD 6,150,000 or 33.6 cents per basic and diluted share compared to AUD 4,400,000 or 24.1 cents per basic and diluted share for the same period of last year. Net cash provided by operating activities was AUD 9,767,000 compared to AUD 1,709,000 for the same period of last year. Payments for plant and equipment were AUD 3,894,000 compared to AUD 2,332,000 for the same period of last year. Net tangible assets per security were AUD 2.32 compared to AUD 2.05 as at December 31, 2012. Profit of the parent company for the year was AUD 4,563,000 compared to AUD 3,289,000 reported a year ago.


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