Imperial Reports Results for the Third Quarter 2005.VANCOVUER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Imperial Metals Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :III) reports higher metal production and higher metal prices have pushed net income for the nine months ended September 30, 2005 to $11.8 million. Copper production of 11.9 million pounds from the 100% owned Mount Polley mine was almost double the previous quarter, as more ore from the high grade Wight wight 1 n. Obsolete A living being; a creature. [Middle English, from Old English wiht; see wekti- in Indo-European roots. pit was milled during the third quarter. Copper production from the 50% owned Huckleberry huckleberry, any plant of the genus Gaylussacia, shrubs of the family Ericaceae (heath family), native to North and South America. The box huckleberry (G. brachycera) of E North America is evergreen and is often cultivated. The common huckleberry (G. mine was 17 million pounds and molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. production was 179,000 pounds. Imperial's comparative financial results for the nine months ended September 30, 2005 and September 30, 2004 are summarized below and discussed in detail in the attached Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial . The September 2005 quarter net income of $5.6 million includes $7.9 million of equity income from Huckleberry, and a $3.3 million unrealized loss Unrealized Loss A loss that results from holding onto an asset rather than cashing it in and officially taking the loss. Notes: Let's say you own a stock that is down 50%, but you haven't sold it to realize the loss yet. This is said to be an unrealized loss. on copper price hedging activities. The September 2004 quarter net income of $0.8 million included $2.5 million of equity income from Huckleberry.
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(unaudited) Three Months Ended Nine Months Ended
in thousands except Sept 30, Sept 30, Sept 30, Sept 30,
per share amounts 2005 2004 2005 2004
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(000's) (000's) (000's) (000's)
Revenues $27,860 $ 197 $ 28,040 $ 804
Operating Income (Loss) $ 1,290 $(1,584) $ (1,596) $ (3,727)
Net Income (Loss) $ 5,584 $ 783 $ 11,877 $ (2,216)
Net Income (Loss)
Per Share $ 0.20 $ 0.03 $ 0.42 $ (0.09)
Cash Flow (1) $ 5,684 $(1,482) $ 3,448 $ (3,317)
Cash Flow Per Share (1) $ 0.20 $ (0.06) $ 0.12 $ (0.13)
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(1) Cash flow and Cash Flow Per Share are measures used by the
Company to evaluate its performance, however, they are not terms
recognized under generally accepted accounting principles. Cash
Flow is defined as cash flow from operations before net change
in working capital balances and Cash Flow Per Share is the same
measure divided by the weighted average number of common shares
outstanding during the period.
Imperial is an operating mining company based in Vancouver, British Columbia. Its wholly owned Mount Polley copper-gold open pit mine is located 56 kilometres northeast of Williams Lake, British Columbia Williams Lake also known as BC's Stampede Capital is a city in British Columbia, Canada. Located in the Cariboo District, it is the largest urban centre between Kamloops and Prince George. The population is 10,744. , and its 50% owned Huckleberry copper-molybdenum open pit mine is located 123 kilometres southwest of Houston, British Columbia Houston is a forestry, mining and tourism town in the north-central portion of British Columbia, Canada. Its urban population is approximately 3600 people, with approximately 2000 in the surrounding rural area. . The Company's Third Quarter Report for the period ended September 30, 2005, as well as information on operations and exploration activities, is available on the company website www.imperialmetals.com. Imperial Metals Corporation (TSX:III) |
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