This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:International Royalty loses $774,000 (U.S.) in Q3 2009-11-13 14:12 ET - News Release Mr. Douglas Silver reports INTERNATIONAL ROYALTY CORPORATION REPORTS 2009 THIRD QUARTER RESULTS International Royalty Corp. has released its 2009 third-quarter financial results. All figures are in United States dollars unless noted otherwise. Complete financial results are available on SEDAR and on the company's website.
Highlights for the third quarter of 2009: - Royalty revenue was $6.6-million, compared with $13.8-million for the
quarter that ended Sept. 30, 2008.
- Earnings from operations were $1.3-million, compared with $3-million
for the quarter that ended Sept. 30, 2008.
- Cash flow from operations was $1.6-million, compared with $3.7-million
for the quarter that ended Sept. 30, 2008.
- The Las Cruces copper mine began production during the third quarter.
The mine produced three million pounds of copper cathode during the
quarter and International Royalty received $125,000 on its 1.5-per-cent net smelter return
royalty.
- The Johnson Camp copper mine, which began production during the second
quarter of 2009, produced 2.6 million pounds of copper during the third
quarter, a 28-per-cent increase over the prior quarter.
- International Royalty successfully closed a $57.6-million (Canadian) common share financing in
July, 2009. This share issue provided it with $49.1-million in net
proceeds, which exceed the company's senior secured debentures as of
Sept. 30, 2009, by approximately $23.8-million.
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