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Equinox Q3-10 Results Generate Operating Profit of $166.4 mi
TORONTO, ON, November 8, 2010 : Equinox Minerals Limited (TSX and ASX symbol: “EQN”) ("Equinox" or the “Company”) today released its results of operations and financial condition for the three month (“Q3-10”) and nine month period ended September 30, 2010.
Equinox will host a conference call and webcast to discuss these results on Monday, November 8, 2010 at 18:00 HRS (Toronto time).
All currencies specified in this press release are denominated in U.S. dollars.
HIGHLIGHTS FOR THE QUARTER
Operating Events
Generated an operating profit(1) of $166.4 million, an increase of 160% from $64.1 million in the third quarter of 2009. An after tax profit of $71.2 million was also generated, an increase of 226% from a loss of $56.3 million in the same period in 2009.
Copper production increased 37% over the third quarter of 2009, with 38,445 tonnes (84.76 million pounds) of copper in concentrate produced.
Material movement increased to 30.39 million tonnes and is the best quarterly result to date.
The Lumwana plant produced at its design rate of 20 million tonnes per annum over the quarter with 4.94 million tonnes of ore milled.
Achieved a quarterly C1 operating cost(1) of $1.21 per pound of copper.
Cash resources of $263.3 million at the end of the quarter, an increase of $51.1 million over the second quarter, resulting from positive operating cash flows.
http://www.equinoxminerals.com/files/fi ... s_Q310.pdf