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Talvivaara Mining Pretax Loss Narrows

Wed, 28th May 2014 07:13

LONDON (Alliance News) - Talvivaara Mining Company PLC Wednesday reported that its first-quarter loss before income tax narrowed to 17.12 million euros from 31.73 million euros in the prior year quarter.

Loss attributable to owners of the parent narrowed to 14.57 million euros from 21.01 million euros in the previous year. Loss per share was 0.01 euros versus a loss of 0.07 euros in the previous year.

CEO Pekka Perä said, "Our first quarter 2014 results reflect an operationally steady period with best nickel and zinc production since the third quarter of 2012. Our new ore heaps, primary heaps 1 and 4, demonstrated very good leaching performance after having started to contribute to our metals production towards the end of 2013. Our metals recovery plant also performed uneventfully, which, together with the improvements in bioheapleaching, gives us confidence that our processes have come of age and can be operated in a reliable, industrial fashion."

Quarterly net sales grew to 29.01 million euros from 27.61 million euros in the prior year.

Talvivaara's net sales for nickel and cobalt deliveries to Norilsk Nickel during the quarter ended 31 March 2014 amounted to 29.0 million euros, compared to 27.6 million euros in the previous year.

Talvivaara produced 3,068t (2,732t last year) of nickel and 5,726t (3,128t last year) of zinc during first-quarter of 2014.

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21 May 2014 13:04

Talvivaara Mining Granted Deadline Extension For Reorganisation

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14 May 2014 08:09

UPDATE 1-Talvivaara plans to delist from London bourse

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14 May 2014 06:10

Talvivaara plans to delist from London bourse

HELSINKI, May 14 (Reuters) - Troubled Finnish nickel miner Talvivaara plans to delist its shares from the London Stock Exchange, leaving its only listing in Helsinki, in a bid to cut costs. The firm said the London delisting, if approved at its shareholder meeting next month, would take ef

29 Apr 2014 05:17