AVM 0.00% 2.6¢ advance metals limited

great 3q results hopefully, page-4

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    Here it is from
    http://au.quote.com/news/story.action?id=RWE318t2791


    News Story
    Anvil net income up 29pc to $US39.1m in third quarter
    Wednesday November 14, 2007 02:17:30 EST

    Sydney, Nov 14, 2007 (RWE via COMTEX News Network) --

    (RWE Australian Business News) Anvil Mining Ltd (ASX: AVM) today announced record net income for the third quarter of 2007 at $US39.1m or US55c per share, up 29.5pc from $US30.2m or US54c per share for the third quarter of 2006.

    Concentrate sales also reached a quarterly record of $76.2m, up 34.6pc from $56.6m for the corresponding quarter of 2006.

    Operating cash-flow (before working capital movements) was a record $50.1m or US71c per share, compared with $36.9m (66c per share).

    Consolidated production was also a quarterly record of 14,772 tonnes of copper and 612,739 ounces of silver contained in concentrates.

    President and CEO Mr Bill Turner commented, "For the third consecutive quarter we reached quarterly records in sales, operating profit, operating cash-flow (before working capital movements) and net income.

    "The company's strong financial performance was due to continued above-target operational performance at the Dikulushi mine and an increase in realised silver prices, combined with a strong copper market price.

    "The 15pc increase in copper production over the corresponding quarter in 2006 is mainly due to the commissioning of the Kinsevere Stage I HMS plant in June 2007, our third mine in the DRC which produced 6142 tonnes of copper in concentrates for the third quarter."

    The strong performance of Dikulushi has resulted in an increase in the original 2007 production target to 24,000 tonnes of copper and 2.25m ounces of silver.

    With above-target production being consistently achieved at Dikulushi and the Kinsevere mine operating at design capacity, the company estimates its 2007 consolidated production target to exceed 45,000 tonnes of copper in concentrates.



 
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