Operating profit after tax for the year ended June 30 reached $2.85 million from $1.42 million the year before. Operating profit before tax and abnormals rose to $4.51 million from $3.05 million and operating revenue was up 36% to $26.4 million.

A fully franked inaugural dividend up 2c a share has been declared.

The company is forecasting profits to increase further in 2001 when its Mt Rawdon project begins to make a contribution. The project, currently under construction, is expected to be commissioned in December and reach full production in January 2001.

Mt Rawdon, 84km south-west of Bundaberg in Queensland, is forecast to contribute 31,000 ounces to Equigold’s budgeted production for 2001 of 84,000oz.