掀开奶罩边躁狠狠躁苏玥视频,无码专区3d动漫精品,去阳台跪着把屁股抬起来,精品国产丝袜黑色高跟鞋

Labrador Iron Ore Royalty Corporation announced its operation and cash flow results for the Q3 ended September 30th 2013.

 

Royalty income for the Q3 of 2013 amounted to USD 35.6 million as compared to USD 32.1 million for the third quarter of 2012. The shareholders' cash flow from operating activities after adjustments for changes in amounts receivable accounts payable and income taxes payable (adjusted cash flow) for the quarter was USD 20.0 million or USD 0.31 per share compared to last year's USD 18.5 million or USD 0.28 per unit.

 

Equity earnings from Iron Ore Company of Canada amounted to USD 25.8 million or USD 0.40 per share as compared to USD 14.2 million or USD 0.22 per unit in 2012. Net income was USD 41.2 million or USD 0.65 per share compared to USD 29.7 million or USD 0.47 per unit for the same period in 2012. Earnings and cash flow for the quarter, although higher than last year were reduced due to higher income taxes, a result of the elimination of interest expense on the subordinated notes that were cancelled last September.

 

As reported last quarter, the wildfires in the area, mine ore quality issues and power outages resulted in reduced production in June and July. The reduced production in June and July resulted in lower sales for the quarter, due to the lack of available product for shipment. Production for August and September returned to May levels and is approaching the levels expected, now that the first phase of the expansion has been completed. Barring unforeseen circumstances, we should see these production levels continue going forward, subject to the usual production reduction that occurs during the winter months.

 

Royalty income for the quarter was positively affected by iron ore prices that remained relatively firm during the quarter and the weaker Canadian dollar against its U.S. counterpart. Revenue for the quarter was substantially improved from last year, mainly due to the higher prices received but was lower than the preceding quarter, because of the lack of product available for sale. Equity earnings from IOC for the quarter were substantially above last year's corresponding quarter and an improvement over the preceding quarter of this year.

 

Phase two of IOC's concentrate expansion program which was temporarily suspended in February 2013, was approved for completion by IOC on August 5. CEP2 will increase concentrate production capacity from 22.0 to 23.3 million tonnes per annum. At the time of suspension, project completion was above 80%, and available capacity was 22.7 million tonne perannum. It is expected that the project will be completed in the first quarter of 2014 with the full 23.3 million tonne perannum capacity becoming available in the Q2. To date, USD 393 million has been spent with a further USD 86 million expenditure required to complete the project.