Profits continue despite downturn

摘要

A CASH KITTY of 120 million dollars, no debt, a history of paying dividends and continued exploration success on its Kambalda nickel ground in Western Australia are just some of the reasons why Independence Group NL should be in the running for this year's digger of the year award. Despite market woes, the company posted a 5 million dollars profit in the March quarter and recorded a cash operating cost of 3.39 dollars/pound, making it the cheapest producer of the base metal in Australia.More recently, the discovery of another ore body at Moran, situated in the Long South lava channel, is set to add an extra two to three years to the mine life at Long and open the door to further success.