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First Quantum Minerals Reports Third Quarter 2017 Results
Oct. 27, 2017 08:54AM PST
Base Metals Investing First Quantum Minerals Ltd. (“First Quantum” or the “Company”, TSX Symbol “FM”) today announced a comparative loss1 of $28 million ($0.04 per share1), net loss from continuing operations attributable to shareholders of the Company1 of $52 million ($0.08 per share) and cash flows from continuing operating activities of $267 million ($0.39 per share1) for the three months ended September 30, 2017. The results include a $157 million loss realized under …
First Quantum Minerals Ltd. (“First Quantum” or the “Company”, TSX Symbol “FM”) today announced a comparative loss1 of $28 million ($0.04 per share1), net loss from continuing operations attributable to shareholders of the Company1 of $52 million ($0.08 per share) and cash flows from continuing operating activities of $267 million ($0.39 per share1) for the three months ended September 30, 2017. The results include a $157 million loss realized under the copper sales hedge program for which no tax credit is available.
As quoted in the press release:
“This was a very constructive quarter for First Quantum as we made significant progress towards several of our key objectives,” noted Philip Pascall, Chairman and CEO.
“On our copper growth objective, it is pleasing to see Sentinel’s performance as the steps taken earlier this year gain traction. The mine has already made a meaningful impact on our production and sales volumes, and we have set yet another quarterly benchmark. With unrestricted power now being provided to both our operations in Zambia, Sentinel is well positioned to be one of the pillars in the Company’s production.”
