profit results ANVIL MINING REPORTS RECORD NET EARNINGS OF $30.2 MILLION ($0.54 PER SHARE) FOR THE SEPTEMBER QUARTER OF 2006 AND AN OPERATING PROFIT OF $38.0 MILLION Sixth Consecutive Quarter of Growth in Net Earnings
HIGHLIGHTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2006
· Sixth consecutive quarter of growth in revenues, operating profit and net earnings.
· Record Group copper production of 12,816 tonnes of copper contained in concentrates and
the production of 545,438 ounces of silver.
· Record Revenues from copper and coppersilver
concentrate sales of $56.5 million, up
318% compared to the third quarter 2005.
· Record Operating profit of $38.0 million.
· Record Cash flow from operations (before changes in noncash
working capital) of $39.7
million ($0.71 per share, on weighted average number of shares basis).
· Record Consolidated net earnings of $30.2 million ($0.54 per share, on weighted average
number of shares basis).
· The Phase 2 drilling at Kinsevere, totalling 17,220 metres, has increased the width of the
Tshifufia Central orebody by 75 metres.
· Stage III Dikulushi decline had progressed to a total advance of approximately 295 metres
as at the end of the September Quarter.
· Acquisition of additional 10% interest in the mining rights for the KinsevereNambulwa
coppercobalt
joint venture, taking the Company’s interest to 80%.
· Dikulushi deep drilling targeting a depth of 300 – 400 metres below surface demonstrates
the orebody is still open at depth.
· Evaluation and development agreement signed with Itogon Suyoc Resources Inc., a private
Phillipines minerals company, for their gold properties in the Baguio District on Luzon
Island in the Phillipines.
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