Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in
International Minerals Provides Earnings Guidance for First Fiscal Quarter Ended September 30, 2012
Published : November 07, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Ecuador | Europe | Gold | Silver | Swiss |

SCOTTSDALE, AZ--(Marketwire - November 7, 2012) - International Minerals Corporation (TSX: IMZ) (SWISS: IMZ) (the "Company" or "IMZ") expects to release its financial results for the first fiscal quarter ended September 30, 2012 (the "Current Quarter") after the close of markets on Wednesday, November 14, 2012.

During the quarter ended June 30, 2012 (IMZ's fourth fiscal quarter of the 2012 fiscal year), the Company reported a net loss of $27.7 million, which was due primarily to the net write down of $23.2 million from discontinued operations (which includes $53.2 million for the Company's Ecuador resource properties). For the Current Quarter, the Company will not incur any write downs relating to discontinued operations. Current Quarter earnings are expected to be consistent with average quarterly earnings reported before write downs for the 2012 fiscal year, which were approximately $7.0 million after tax.

During the fiscal quarter ended September 30, 2011 (the "Prior Year's Quarter"), the Company reported net income of $15.2 million. However, during the Prior Year's Quarter, the silver and gold price averaged $38.79 and $1,700 per ounce respectively compared to $29.91 and $1,655 per ounce respectively for the Current Quarter. As such, the Company anticipates that net income for the Current Quarter will be between 30% and 40% lower than the income reported in the Prior Year's Quarter.

All dollar amounts in this news release are reported in US Dollars, unless otherwise noted.

Cautionary Statement:

Some of the statements contained in this release are "forward-looking statements" within the meaning of Canadian securities law requirements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding production expectations, and the timing related to completing a sale of Rio Blanco and Gaby. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risk of commodity price fluctuations; the uncertainty in estimating and then obtaining the fair market value of the Rio Blanco and Gaby properties, political and regulatory risks; risks related to the new mining law in Ecuador, and other risks and uncertainties detailed in the Company's Annual Information Form for the year ended June 30, 2012, which is available at www.sedar.com under the Company's name. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.



For additional information, contact:

In North America
Paul Durham
VP Corporate Relations
Tel: +1 203 883 8358

In Europe
Oliver Holzer
Marketing Consultant
+41 44 853 00 47

Or email us at: Email Contact
Internet Site: http://www.intlminerals.com

Renmark Financial Communications
Christine Stewart
+1-416-644-2020
Email Contact

Robert Thaemlitz
+1-514-939-3989
Email Contact

Companies Mentionned : Aura Minerals |
Data and Statistics for these countries : Ecuador | All
Gold and Silver Prices for these countries : Ecuador | All

International Minerals Corporation

PRODUCER
CODE : IMZ.TO
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy
Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of International Minerals Corporation
2008 Annual report
Renewal Annual Information Form 2007
Option Grants of International Minerals Corporation
11/30/2012Announces Dividend of CDN$0.12 per Share
Nominations of International Minerals Corporation
8/29/2013Appoints New Independent Director
12/16/2010IMZ Appoints New Chief Financial Officer
4/8/2010Appointment of New VP
Financials of International Minerals Corporation
9/30/2013Reports Operating and Financial Results for the Fiscal Year ...
5/16/2013Reports Third Fiscal Quarter Ending March 31=2C 2013 Financi...
11/15/2012Reports Operating Achievements and Financial Results for Fir...
11/13/2010IMZ Reports Financial Results for Quarter Ended Sept. 30, 20...
8/12/2010(Pallancata)Reports Strong Pallancata Mine Operating Results
11/17/2009(Pallancata)First Quarter Net Income of $1.2 Million; Net Equity Earning...
8/24/2009(Pallancata)IMZ Reports Strong Pallancata Operating Results & Initial US...
11/18/2008Sept. 30, 2008 Financial Results
5/20/2008 Realizes $4.12 Million ($0.04 per share) in Net Income for ...
Project news of International Minerals Corporation
7/17/2013s 2013 Cost Reduction Plans and Project Updates
6/25/2013Closes Sale of Rio Blanco Property in Ecuador
3/25/2013(Inmaculada)Announces Closing of $140 Million Loan Facility for Inmacula...
11/2/2012s Development of Goldfield Property
1/11/2012(Inmaculada)IMZ Announces Positive Feasibility Study at Inmaculada Gold-...
11/8/2010(Pallancata)Reports Strong Pallancata Mine Production Results for the Qu...
10/12/2010(Inmaculada)signs agreement with Hochschild for Inmaculada project
10/8/2010IMZ Announces Additional Drilling Results from Goldfield Pro...
9/10/2010(Inmaculada)Announces New Resource Estimate and Economic Assessment of I...
7/28/2010(Inmaculada)Reports New High-Grade Drill Results
5/5/2010(Inmaculada)New Drill Results
4/30/2010(Pallancata)Quarterly Production
3/26/2010(Pallancata)Reports Updates Reserve/Resource Estimates at Pallancata Sil...
2/4/2010(Inmaculada)Increased Resource Estimate at Inmaculada Project
11/12/2009(Pallancata)Record Quarterly Production at Pallancata Mine, Peru
7/16/2009(Pallancata)IMZ Update at Pallancata Mine, Peru and Gaby project, Ecuado...
5/23/2009(Pallancata)Got Gold? IMZ Reserves at 1M gold equiv oz. Investing in Gol...
5/15/2009(Pallancata)IMZ Announces 1st Quarter Production Results- Pallancata Min...
4/18/2009(Rio Blanco - San Luis)Operations at Rio Blanco Project Temporarily Suspended
3/27/2009(Pallancata)Pallancata Mine, Peru, Resumes Operation
3/24/2009(Pallancata)Temporary Work Stoppage at Pallancata Mine
2/19/2009(Rio Blanco - San Luis)Updated Costs at Rio Blanco
2/17/2009(Pallancata)Record Production from Pallancata Mine, Peru
1/26/2009(Gaby)IMZ Announces Optimization Study Results-Gaby Project, Ecuad...
11/5/2008(Pallancata)Q3 Production Results for Pallancata Mine, Peru
10/2/2008(Pallancata) Reports Low Cash Costs at Pallancata Silver Mine, Peru
8/25/2008(Pallancata) Announces Major Increase in Reserves at Pallancata Mine
7/24/2008(Pallancata)Strong Production Results from Pallancata Mine
6/24/2008(Rio Blanco - Alexandra North)Reports High-Grade Gold Drill Results at Rio Blanco Project
Corporate news of International Minerals Corporation
9/19/2013Provides Gemfield Permitting Update and Earnings Guidance fo...
6/18/2013Announces Update of Feasibility Study at Goldfield=2C Nevada
5/2/2013Provides Earnings Guidance for Third Fiscal Quarter Ending M...
3/15/2013(Pallancata)s Reserve and Resource Estimates at Pallancata Silver Mine
2/14/2013Reports Second Fiscal Quarter Ending December 31, 2012 Finan...
1/30/2013(Pallancata)Reports Production Results From Pallancata Mine for Quarter ...
11/26/2012(Inmaculada)Announces Update for Inmaculada Project=2C Peru
11/21/2012Provides Update on Sale of Ecuadorian Assets
11/7/2012Provides Earnings Guidance for First Fiscal Quarter Ended Se...
7/17/2012Announces Positive Feasibility Study at Goldfield Gold Proje...
5/30/2012IMZ Reports Drill Results from Converse Project, Nevada
5/23/2012Announces Closing of Sale of Ruby Hill Royalty
5/15/2012Reports $6.8 Million in Pre-Tax Income for Third Fiscal Quar...
4/12/2012(Pallancata)IMZ Updates Reserve & Resource Estimates at Pallancata Mine,...
4/11/2012(Pallancata)s Reserve and Resource Estimates at Pallancata Silver Mine
3/20/2012Announces Metallurgical and Drill Results From Goldfield Pro...
2/15/2012IMZ Reports $12M in Pre-Tax Income for Quarter Ended Dec 31,...
2/14/2012Reports $12.0 Million in Pre-Tax Income for Second Fiscal Qu...
12/20/2011IMZ Announces Positive Preliminary Economic Assessment at Co...
12/15/2011IMZ Reports $15.2M in After-Tax Net Income for Quarter Ended...
11/29/2011Reports Drilling and Metallurgical Results From Converse Gol...
11/16/2011Reports Results of Annual and Special Meeting of Shareholder...
10/12/2011to Repurchase Shares
9/29/2011IMZ Reports Record Earnings of $58.4M Pre-Tax Net Income for...
9/28/2011Reports Record Earnings of $58.4 Million Pre-Tax Net Income ...
8/24/2011Reports Increased Resource Estimate at Converse Gold Project...
8/18/2011on Rio Blanco Contract Negotiations With Ecuadorian Governme...
7/6/2011IMZ Reports Drill Results from Converse Project, Nevada
7/5/2011Reports Drill Results From Converse Project, Nevada, Includi...
7/1/2011IMZ Announces Expiry of Agreements with Chinese Company
6/17/2011IMZ Announces Drill Results from Goldfield Project, NV
5/17/2011IMZ Reports $12.9 Million in Pre-Tax Net Income for 3rd Fisc...
4/7/2011(Pallancata)IMZ Updates Reserve and Resource Estimates at Pallancata Sil...
2/25/2011(Inmaculada)IMZ Reports Increased Resources at Inmaculada Project
2/24/2011Reports Increased Resource Estimate at Inmaculada Gold-Silve...
2/15/2011IMZ Reports Record Net Income for Quarter Ended Dec 31, 2010
12/29/2010IMZ Signs Definitive Agreement with Hochschild to Fast-Track...
11/16/2010IMZ Signs Agreements with Chinese Company for Rio Blanco & G...
8/26/2010IMZ Announces Initial Drill Results for Goldfield Project, N...
5/21/2010Commences Drilling at Goldfield, Nevada
5/18/2010US$3.3 Million Net Income for Third Fiscal Quarter
1/20/2010Drill Results for Recently Acquired Inmaculada Project
12/18/2009Ventura Shareholders Approve Arrangement Agreement
12/17/2009Resignation of VP
9/29/2009IMZ Year-End Financials Web Links
9/12/2009Webcasts from Denver Gold Forum & CEO Interview
8/20/2009IMZ Included in Swiss Performance Index of SIX
5/20/2009IMZ Reports Net Income of US$2.0 million for 3rd Quarter End...
2/20/2009Meet International Minerals' CEO Steve Kay at BMO Conference
2/18/2009Net Income $4.8M ($0.05 per share) for Fiscal 2Q
12/18/20082008 Review and 2009 Business Plans
10/14/2008Repurchase Shares
10/8/2008FISCAL YEAR 2008 – LETTER TO SHAREHOLDERS
9/30/2008 Reports Strong Year-End Balance Sheet
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (IMZ.TO)FRANKFURT (MIW.F)
2.83-1.05%1.88-2.24%
TORONTO
CA$ 2.83
12/27 15:59 -0.030
-1.05%
Prev close Open
2.86 2.80
Low High
2.80 2.86
Year l/h YTD var.
2.83 -  2.83 -%
52 week l/h 52 week var.
2.83 -  2.86 -1.05%
Volume 1 month var.
4,354 -%
24hGold TrendPower© : 13
Produces Gold - Silver
Develops Gold - Silver
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/12/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
DateVariationHighLow
20140.00%
2013-35.54%4.921.77
2012-22.30%5.843.90
2011-24.36%8.005.29
201080.43%7.613.41
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.