LeadFX Inc. (the “Company” or “LeadFX”) (TSX: LFX) today reported its results for the second quarter ended June 30, 2017. In the second quarter, we incurred a net loss of $2.7 million, or $0.07 per share, compared to a net loss of $2.5 million, or $0.06 per share, for the second quarter of 2016.
As quoted in the press release:
As the Paroo Station mine (“Paroo Station”) was in care and maintenance in both periods, costs were broadly comparable in both periods except for lower management services fees and foreign exchange fluctuations, which resulted in a $0.1 million loss in the second quarter compared to a $0.2 million gain in the same period of 2016. Foreign exchange is principally incurred on accounts payable balances denominated in Canadian and Australian dollars. Prior to July 19, 2016, borrowings were also denominated in Canadian dollars. Refer to the Borrowings section of the corresponding Management’s Discussion and Analysis of Results of Operations and Financial Condition for the quarter ended June 30, 2017 (the “MD&A”) for further information.