First Quantum Reports Operational and Unaudited Financial Results

First Quantum Minerals Ltd. (TSX:FM) reported its operational and unaudited financial results for the three and nine months ended September 30, 2011.

As quoted in the press release:

Q3 results benefit from a higher copper price offset by lower production and higher cash costs of production

• Q3 2011 net earnings attributable to shareholders of the Company of $90.9 million ($0.20 per share). Comparative earnings of $139.3 million ($0.30 per share) versus $139.2 million ($0.35 per share) in Q3 2010.

• 12% increase in gross profit over Q3 2010 due to a higher net realized copper price, offset partially by the loss of Frontier’s contribution and higher costs in Q3 2011.

Click here to read the First Quantum Minerals Ltd. (TSX:FM) press release