Bountiful recovery after poor last quarter

UPGRADES have paid off for Bounty Industries, with a turnaround that saw the contractor recover from negative cash flow of $A300,000 at the end of 2007 to finish the first quarter of 2008 with positive cash flow of $400,000.

Christine Feary

Bounty said the strong result for the March quarter reflected the improved availability of the mining fleet after rebuild expenditure in the December quarter and the implementation of the new Aquila contract in early March.

Bounty is continuing to invest to upgrade and improve equipment availability and complete and commission a continuous haulage system.

A capital raising program that began in February this year ended in April with a total of $1.3 million raised.