Quadra Mining 2009 Fourth Quarter Financial Results
Investing News Network - March 8th, 2010
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.
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.