Hauptfokus in Europa (Schweden)
keine Schulden und super Zahlen, aktuelle MK ca. 850 Mio. CAD:
2005-11-10 16:12:32: LUNDIN MINING: INTERIM REPORT NINE MONTHS ENDED SEPTEMBER 30, 2005 AND 2004
November 10, 2005
(Amounts in United States Dollars unless otherwise stated)
Financial Highlights
Third Quarter 2005 (2004):
- Sales $48.7 million ($16.4 million)
- Net income $9.6 million ($2.7 million)
- Basic earnings per share $0.24 ($0.09)
- Diluted earnings per share $0.24 ($0.09)
- Cash provided by operating activities $5.1 million* ($2.4 million)
- EBITDA $16.4 million ($6.3 million)
First Nine Months 2005 (2004):
- Sales $128.3 million ($18.4 million)
- Net income $15.7 million ($2.7 million)
- Basic earnings per share $0.42 ($0.15)
- Diluted earnings per share $0.41 ($0.14)
- Cash provided by operating activities $29.9 million ($4.0 million)
- EBITDA $47.8 million ($4.2 million)
* Cash flow was negatively affected during the third quarter of 2005 by payments of costs related to the acquisition of ARCON. Non-recurring negative cash flow items during the quarter amount to $4.2 million.
CEO Comments
Lundin Mining President & CEO, Karl Axel Waplan said: “This quarter was a very important quarter for the Group as we began to fully integrate the ARCON mining and exploration activities into the Lundin Mining Group. We also acquired a strategically important equity position in one of the world largest undeveloped zinc deposits and we strengthened our exploration efforts with the appointment of Dr. Neil O’Brian. Continued strength in commodity prices, backed by fundamentals, contributed to an enhanced financial performance.”
Other highlights
- An agreement to acquire up to a 19.9% interest in Union Resources Limited has been signed. Union holds a 50% interest in the Mehdiabad Project, one of the largest undeveloped zinc projects in the world.
- Lundin Mining sold its shares and warrants in Silver Wheaton Corporation for net proceeds of $36.8 million. $25.2 million was realized in the third quarter and $11.6 will be realized in the fourth quarter.
- The updated mineral reserve calculations at Galmoy shows an increase of the ore reserves by 63,000 tonnes as of March 31, 2005 compared to September 30, 2004 (see page 10 for NI 43-101 disclosure). Including the ore milled during the six months period of 330,000 tonnes, the actual reserves increased by 393,000 tonnes.
- The improvement project of the mill at Galmoy, designed to increase mill utilization and recoveries, continues according to plan.
Letzte News vom 16.01.06:
Swedish zinc miner Lundin to buy up to 10% of Sunridge Gold
Canada-listed zinc producer Lundin Mining has entered in to an alliance and financing agreement with Sunridge Gold. In a statement released Monday Sunridge said Lundin Mining would purchase units equal to just under a 10% equity stake in Sunridge. Sunridge, a mineral exploration company focused on the acquisition, exploration, discovery and development of precious and base metal projects, is currently conducting exploration on the high-grade gold/copper/zinc projects of the Asmara Joint Venture in Eritrea.
"Lundin Mining has subscribed, by way of a non-brokered private placement, for 3,150,000 units of Sunridge Gold at a price of $1.66/unit for gross proceeds of $5,2-mil. Each unit consists of one common share and one common share purchase warrant," said Sunridge. It added that if Lundin exercised these warrants it would bring its interest in Sunridge Gold to approximately 18%. Sunridge president and CEO Michael Hopley said: "This is a very meaningful strategic alliance for Sunridge Gold as it allows the company to access the technical and financial expertise of the Lundin Mining group and assist Sunridge Gold in rapidly advancing our projects into production."
Lundin Mining is a Canadian mining and exploration company with a primary focus in Europe. The main asset is the Zinkgruvan mine, located about 2,000km southwest of Stockholm, Sweden. The mine has been producing zinc, lead and silver on a continuous basis since 1857. Zinkgruvan has consistently ranked in the lowest cost quartile among zinc mines in the world. Lundin Mining also owns the Galmoy zinc mine in Ireland and the Storliden zinc/copper mine in the Skellefte District of northern Sweden. Lundin also holds a large copper/gold exploration project in the Norrbotten Mining District of northern Sweden.
In a second statement issued Monday, Sunridge also said it had served notice to both Sub-Sahara Resources and Africa Wide Resources of its intention to exercise its option to acquire their combined interests in the Asmara Joint Venture for shares of Sunridge so that it would own 100% of the Asmara Joint Venture project. "Pursuant to the terms of the option agreements between the parties dated Jun 30, 2004 the parties will negotiate the fair value of the AJV project. Sunridge can purchase the SSR (48%) and AWR (12%) interests in the AJV for common shares of Sunridge," the group said.
Das Geschäft ist bereits jetzt ein Erfolg für die Bücher von Lundin, aktueller Kurs Sunridge 2,60 CAD (Kaufkurs Lundin 1,66 CAD!)