Quadra Mining 2009 Fourth Quarter Financial Results

Quadra Mining Ltd. (TSX:QUA) reported net earnings of $80.5 million or $0.89 per share for the year ended December 31, 2009 compared to $38.6 or $0.61 per share for the year ended December 31, 2008.

The press release is quoted as saying:

Earnings in 2009 benefited from a strong recovery in copper prices which increased from $1.32/lb. to $3.33/lb. over the course of 2009. Earnings in 2009 were also impacted by a $54.5 million accounting loss on derivatives which was also a result of the increasing copper prices in the year.

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