Russian gold aids recovery at Celtic

CELTIC RESOURCES, which is to be split into three different exploration companies, made pre-tax profits of $0.56m in the six months to the end of June.

The company said the turn-around was directly attributable to having increased its stake in the Suzdal gold mine in Kazakhstan from 40% to 100% in mid 2002.

The AIM-listed company reported pre-tax profits of $560,000, compared to a loss of $512,000 in the same period last year.