Beaconsfield Gold Mine owner NQ Minerals is in the money at its Hellyer tailings retreatment project.
The company reported the Hellyer operations achieved gross revenue of $17.9 million, operating profits of $9.7 million and net income of $4.8 million in the March quarter.
"Hellyer achieved another strong financial performance for the first quarter this year," chairman David Lenigas said.
"The completion of the new $15 million stage one TSF tailings dam was a major technical achievement on site and stands the project in good stead for the future."
Tailings from the Hellyer plant - west of Cradle Mountain - started flowing into the new storage dam in the second week of April, NQ said.
It said the dam project came in 17 per cent under budget, "an exceptional achievement from the site management teams".
The company is also aiming to resume mining at Beaconsfield.
t bought the historic mine for $2 million last year.
It recently started hauling gold-bearing material from a wetlands area.
The material was deposited during past mining and its removal is expected to bring environmental benefits.