IVPAF - Ivanhoe Mines GAAP EPS of C$0.07 revenue of C$689.12M
2023-05-03 08:47:43 ET
- Ivanhoe Mines press release ( OTCQX:IVPAF ): Q1 GAAP EPS of C$0.07.
- Revenue of C$689.12M (+32.6% Y/Y).
- Kamoa-Kakula sold 86,777 tonnes of payable copper during the quarter, as well as record EBITDA of C$452 million.
- Kamoa-Kakula’s Phase 3 expansion on track for Q4 2024; boosting copper production to a ten-year average of 620,000 tonnes per annum, at C1 cash cost of C$1.22/lb.
- Ivanhoe Mines has a strong balance sheet with cash and cash equivalents of C$497 million on hand as at March 31, 2023, and expects Kamoa-Kakula's Phase 1 and Phase 2 cash flow to be sufficient to fund the Phase 3 expansion capital cost requirements at current copper prices.
- Copper production and cash cost guidance for 2023: Contained copper in concentrate (tonnes) 390,000 to 430,000; Cash cost (C1) ($ per pound) of 1.40 to 1.50.
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Ivanhoe Mines GAAP EPS of C$0.07, revenue of C$689.12M