Turquoise Hill Resources Posts Net Loss of $50.7 Million for Q1

Turquoise Hill Resources (TSX:TRQ, NYSE:TRQ, NASDAQ:TRQ) announced their first quarter financial results.

As quoted in the press release:

In Q1’13, Turquoise Hill recorded a net loss of $50.7 million ($0.05 per share), compared to a net loss of $80.6 million ($0.10 per share) in Q1’12, which was a decrease of $29.9 million. Results for Q1’13 included $44.0 million in revenue; $8.2 million in interest income; a $0.7 million change in the fair value of SouthGobi’s embedded derivatives and $31.2 million of net loss attributable to non-controlling interests. These amounts were offset by $68.8 million in cost of sales; $18.1 million in exploration and evaluation expenses; $14.6 million in other operating expenses; $15.8 million in general and administrative expenses; $5.0 million in interest expense; $1.9 million in foreign exchange losses and a $1.3 million share of loss of significantly influenced investees.

To view the whole press release, click here.