Quadra Production Results Exceeded Expectations At All Three Operations
VANCOUVER, BC - Quadra Mining Ltd. reported 2009 fourth quarter and annual production results from its three wholly owned mines, the Robinson Mine located in Ely, Nevada, the Carlota Mine located in Globe-Miami, Arizona and the Franke Mine located in Region II Chile. Combined production was 46.7 million pounds of copper and 25,148 ounces of gold produced for the three months ended December 31, 2009 and 164.0 million pounds of copper and 98,970 ounces of gold for the year. This compares to 159.7 million pounds of copper and 137,620 ounces of gold produced in 2008.
In the fourth quarter of 2009, Robinson produced 29.3 million pounds of copper and 25,148 ounces of gold. Copper production for the year totalled 122.5 million pounds, in line with Quadra's revised 2009 guidance of 120-125 million pounds. Gold production for the year of 98,970 ounces was above Quadra's revised 2009 guidance of 90,000 ounces.
Sales in the fourth quarter included shipments that were delayed or deferred from previous quarters. The copper price was $2.79 at the start of the quarter and $3.34 at the end of the quarter. The strong sales volumes and the positive provisional pricing adjustments are expected to have a positive effect on earnings for the quarter.
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