Mercator Minerals Limited Announces Consolidated Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2013; Reports Asset Impairment Charges for the Third Quarter Ended September 30, 2013
For the nine months, the company reported revenues were $168.2 million compared to $185.1 million a year ago. Net loss was $141.3 million or $0.45 basic per share against $13.5 million or $0.05 basic per share a year ago. Adjusted net loss was $27.5 million or $0.09 basic per share against $5.7 million or $0.02 basic per share a year ago. Cash flow used in operations, before non-cash working capital changes was $10.1 million against cash flow from operations, before non-cash working capital changes of $10.7 million a year ago.
For the quarter, the company reported Copper production was 9.9 million pounds against 10.7 million pounds a year ago. Molybdenum was 2.1 million pounds against 2.5 million pounds a year ago. Copper equivalent was 19.8 million pounds against 22.5 million pounds a year ago. Total tons mined were 5.7 million against 7.0 million a year ago. Total Copper shipments were 8.9 million against 8.2 million a year ago. Total Molybdenum shipments were 2.0 million against 2.6 million a year ago.
For the nine months, the company reported Copper production was 28.8 million pounds against 30.1 million pounds a year ago. Molybdenum was 7.3 million pounds against 7.4 million pounds a year ago. Copper equivalent was 63 million pounds against 64.7 million pounds a year ago. Total tons mined were 20.1 million against 22.0 million a year ago. Total Copper shipments were 27.8 million against 7.1 million a year ago. Total Molybdenum shipments were 24.3 million against 7.3 million a year ago.
For the third quarter ended September 30, 2013, the company reported asset impairment charge was $167.8 million.