Gold Pour at The Perth Mint

Australian Television 1956-2006 1oz Silver Lenticular Coin

2007 Sydney Harbour Bridge 1oz Silver Proof Coin

Gold Corporation, the Western Australian Government-owned operator of The
Perth Mint and 40% owner of the AGR Matthey gold refining joint venture, has
announced an after tax profit of $7.06 million compared with the previous
year’s result of $4.84 million for the 2006/2007 financial year. Although sales
revenue dropped from $933 million to $823 million, this reflected reduced
sales of low margin bullion in favour of higher margin products.
Since the establishment of Gold Corporation on 30 June 1987, income tax
equivalent and dividend payments to the Government of Western Australia
have totalled more than $39 million. Royalties paid to the Commonwealth
Treasury on Australian legal tender coins have been $18.5 million over the
same period.
Gold Corporation is the official producer of Australia’s legal tender gold and
silver bullion coins which are marketed to investors throughout the world. It
also mints Australian commemorative or numismatic coins and produces
collector coins on behalf of several overseas issuing authorities. Precious
metal used in coins during the year amounted to 4.75 tonnes of gold and
nearly 70 tonnes of silver. Over 1.4 million coins were sold of which 86%
were exported.
Volatility in precious metals prices led to investor uncertainty during the year
but, despite this, there was a net gain in the amount of metals held in Gold
Corporation’s precious metal depository business. At the financial year end,
precious metal valued at about $1 billion was held on behalf of 4,970 clients
from 90 countries.
The Perth Mint is a favourite destination for visitors who enjoy its ever popular
gold pour performance and its exclusive shopping experience, but the number
of visitors declined slightly to 120,000 reflecting a general downturn of tourists
coming to Western Australia.
Demand for The Perth Mint’s Australian legal tender coin issues remained
strong. The Discover Australia series, now in its second year, remained ever
popular and other themes included coins to commemorate the 50th
anniversary of Australian television, the 50th anniversary of Dame Edna
Everage, the 75th anniversary of the Sydney Harbour Bridge and the 50th
anniversary of the Australian SAS. Coins minted for other monetary
authorities included the official commemorative coin program of the 15th Asian
Games, which were held in Qatar.
AGR Matthey, the gold refining joint venture in which Gold Corporation is in
partnership with two major international companies, refined most of Australia’s
gold and gold from other sources. This business, one of the largest gold
refiners in the world, had a successful year and contributed to Gold
Corporation’s pleasing result.
Gold Corporation continues to have a full order book and the recent renewed
upward trend in precious metal prices should ensure another exciting and
successful year.
END
FOR FURTHER INFORMATION: Please contact Ed Harbuz, Chief Executive
Officer, Gold Corporation on telephone (08) 9421 7200 or alternatively visit
The Perth Mint website on
http://www.perthmint.com.au/about_annreports.aspx
PICTURE EDITORS: If you require a high resolution jpg or tiff version of the
gold pouring image attached, please contact Melissa Comtesse on (08) 9421
7204 or email melissa.comtesse@perthmint.com.au For high quality images
of the 50th Years of Australian Television Coin or the 75th Anniversary of the
Sydney Harbour Bridge Coin presented below, please download from
http://www.perthmint.com.au/product-photgraphy-distributors.aspx