LeadFX Inc. (the “Company” or “LeadFX”) (TSX: LFX) today reported its results for the third quarter ended September 30, 2017. In the third quarter, we incurred a net loss of $2.9 million, or $0.08 per share, which is 2% higher compared to the same period in 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 a lower impairment of inventory, net of reversals related to gas stocks which were no longer held in the third quarter and lower management services fees. 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 September 30, 2017 (the “MD&A”) for further information.