The four mines have combined JORC-code compliant reserves of 121.1 million tonnes, including 44.6Mt probable and 76.4Mt proven, with an average calorific value of 5613kcal/kg.

The company also announced total inferred resources of 41.9 million tonnes and combined exploration targets of 19.8-24.6Mt.

Blackgold’s Caotang, Heiwan, ChangHong and small-quantity WuShan MaoJiaWang mines are situated in the Chongqing and Guizhou regions of southwest China.

The previous JORC-compliant coal for the company’s mines totalled 46.2Mt of probable, 79.4Mt proven and 41.9Mt inferred reserves.

Blackgold’s 2012 fiscal profits were up 70% on the previous period to $A38.8 million.

The growth marks continued healthy demand for coal from the company’s four mines, with total production increasing 29% to 1.2 million tonnes during the 12 months ending in October.

The aggregate quantity traded for FY2012 increased by 149% or 600,000t to 1Mt when compared with FY2011.

The Australian Stock Exchange-listed miner lifted its total assets over the period 96% to $212 million.