Industria
Lundin Mining Pre-Announces Items Impacting the Fourth Quarter 2023 Results
In the fourth quarter 2023 the Company is also expected to recognize an unaudited non-cash unrealized gain of approximately $19 million on a pre-tax basis related to the mark-to-market valuation of the Company's unexpired foreign exchange and diesel derivative contracts. This non-cash gain will impact the Company's earnings but not adjusted EBITDA, adjusted earnings or adjusted earnings per share.
Revenue in the fourth quarter 2023 is expected to be negatively impacted by decreases in metal prices for molybdenum and nickel during the quarter. The sales volume during the quarter for molybdenum and nickel was 978 tonnes and 3,105 tonnes, respectively. Downward provisional pricing adjustments on concentrate sales completed in prior quarters is expected to reduce revenue in the fourth quarter by approximately $5 /lb for molybdenum and approximately $1 /lb for nickel. Downward provisional pricing adjustments on concentrate sales completed in prior quarters relating to other metals are not expected to be significant.
The report for the year ended December 31, 2023 , will be published on Wednesday, February 21, 2024.
The Company will hold a telephone conference call and webcast at 10:00 Eastern Time on Thursday , February 22, 2024. Conference call details are provided below. Please dial in 15 minutes prior to the call start to ensure placement into the conference on time.
Call-in number for the conference call ( North America ): [+1 416 764 8646]
Call-in number for the conference call (North America Toll Free): [+1 888 396 8049]
Call-in number for the conference call (UK): [+44 208 609 4320]
To view the live webcast presentation, please log on using this direct link:
https://onlinexperiences.com/Launch/QReg/ShowUUID=D37368FA-95C0-4267-A8AA-753C7D924094&LangLocaleID=1033
The presentation slideshow will also be available in PDF format on the Lundin Mining website www.lundinmining.com before the conference call.
A replay of the telephone conference will be available after the completion of the call through May 1, 2025 .
Call-in numbers for the replay are ( North America ): [+1 877 674 7070] or (internationally) [+1 416 764 8692]
The passcode for the replay is: [266999]
A replay of the webcast will be available by clicking on the [direct link] above.
Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina , Brazil , Chile , Portugal , Sweden and the United States of America , primarily producing copper, zinc, gold and nickel.
The information was submitted for publication, through the agency of the contact persons set out below on January 29, 2024 at [ 5:30 pm] Eastern Time .
Stephen Williams , Vice President, Investor Relations: +1 604 806 3074; Robert Eriksson , Investor Relations Sweden: +46 8 440 54 50
View original content:https://www.prnewswire.co.uk/news-releases/lundin-mining-pre-announces-items-impacting-the-fourth-quarter-2023-results-302047157.html