Quadra Mining reported Strong 2010 First Quarter Financial Results

Quadra Mining Ltd. (TSX:QUA) reported net earnings of $55.6 million or $0.56 per share (basic) for the three months ended March 31, 2010 compared to $26.7 million or $0.40 per share (basic) for the three months ended March 31, 2009.

The press release is quoted as saying:

Earnings in the quarter benefited from strong copper prices as well as increasing sales volumes from the Carlota and Franke Mines. Adjusted earnings, which exclude the impact of derivative losses, gains on marketable securities and tax adjustments, were $55.7 million or $0.56 per share (basic) for the three months ended March 31, 2010 compared to $33.8 million or $0.51 per share (basic) for the same period in the previous year.

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