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Last A$1.49 AUD
Change Today 0.00 / 0.00%
Volume 342.0
As of 12:27 AM 03/31/15 All times are local (Market data is delayed by at least 15 minutes).

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 its by-products in Australia and internationally. 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.

25 Employees
Last Reported Date: 02/26/15

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tasmania mines ltd (TMM) Key Developments

Tasmania Mines Ltd Declares Fully Franked Dividend, Payable on May 29, 2015

The Directors of Tasmania Mines Ltd. announced that they have declared a fully franked dividend of $0.03 per issued share in the capital of the company. Ex-dividend date is May 5, 2015, with record date of May 7, 2015 and payment date of May 29, 2015.

Tasmania Mines Ltd. Announces Consolidated Earnings and Operating Results for the Year Ended December 31, 2014

Tasmania Mines Ltd. announced consolidated earnings and operating results for the year ended December 31, 2014. During the year a total of 450,956 tonnes of ore was mined at 41.6% Fe compared to 388,769 tonnes a year ago. In addition 520,396 tonnes of overburden was removed compared to 668,783 tonnes a yea ago. All material was taken from the Kara No.1 Open Pit. The Kara concentrator mill treated 452,022 tonnes of materials during the year. Production totalled 20 tonnes of high grade scheelite and 236,230 tonnes of dense medium magnetite. 216,560 tonnes of dense medium magnetite was sold this year compared with 172,861 tonnes sold in the previous year and no iron ore fines were sold during the year compared to 44,290 tonnes sold in the previous year. 25 tonnes of high grade scheelite was sold this year of which the average assay was 73% WO3 compared to 68 tonnes in the previous year of which the average assay was 75% WO3. For the year, the company reported revenue of AUD 50,430,000 against AUD 48,349,000 a year ago. Profit before tax was AUD 9,789,000 against AUD 8,764,000 a year ago. Profit for the year was AUD 6,874,000 against AUD 6,150,000 a year ago. Diluted earnings per share from continuing operations were 37.6 cents against 33.6 cents per share a year ago. Net cash provided by operating activities was AUD 12,509,000 against AUD 9,767,000 a year ago. Payments for plant and equipment were AUD 14,420,000 against AUD 6,580,000 a year ago. Investment in exploration and evaluation assets was AUD 365,000 against AUD 119,000 a year ago.

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.


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