MOLY MINES REPORTS QUARTER HIGHLIGHTS
27th April 2011 from the Toronto exchange.
Moly Mines Ltd. has provided the highlights of its quarterly activities report and quarterly cash flow report available on the company website and on SEDAR.
Spinifex Ridge Iron Ore Mine
-- Mine achieves designed production rate three months ahead of schedule.
-- 176,962 tonnes direct shipping ore mined for the quarter, 134,674 wet metric tonnes shipped.
-- A$55.80/t net revenue earned for the quarter after deducting all production costs, penalties for impurities, sales commissions, freight costs and state government royalties.
-- A$76.6/t (FOB Port Hedland) costs during this start-up quarter (below budget).
-- A$6.6 million mine operating profit for the quarter after stockpile adjustments, before depreciation and amortization.
-- 42,259 tonnes of direct shipping ore in stocks at quarter end with an estimated net realizable value of A$3.6 million.
FULL SPEED AHEAD with IRON ORE cash.
Nice one MOLY!
nice quarterly report out
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