Business
FARALLON ANNOUNCES THIRD QUARTER FINANCIAL AND OPERATING RESULTS
FARALLON ANNOUNCES THIRD QUARTER FINANCIAL AND OPERATING RESULTS
About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"\n\n\n\n Nov. 15, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Nov. 15 /CNW/ - Farallon Mining Ltd. ("Farallon" or the\n "Company") (TSX:FAN) announces its financial and operating results for\n the three months ended September 30, 2010.  Currency amounts are stated\n in United States Dollars, unless otherwise noted.  This news release\n should be read in conjunction with the Company's financial statements\n and MD&A which are available on SEDAR and the Company's website. \n\n\nThe Company's G-9 mine produced 18.9 million pounds of zinc and 2.0\n million pounds of copper in concentrates at a total cash cost1 of $0.35/lb of payable zinc, generating operating earnings of $5.1\n million and $1.6 million in cash from operations before changes in\n non-cash working capital.\n\n\nA summary of the results for the three months ended September 30, 2010\n ("Q3") compared to the three months ended June 30, 2010 ("Q2") are as\n follows:\n\n\nFinancial\n\n\n\nOperating earnings of $5.1 million and net income of $1.0 million, down\n from operating earnings of $11.3 million and net income of $2 million\n in Q2 as a result of a planned slow down of ore production to 1,500 tpd\n from 1,815 tpd in Q2. \n\n\n\n\nCash flow from operations before changes in non-cash working capital of\n $1.6 million, down from $6.6 million in Q2.\n\n\nGross revenues of $28.5 million, down from $39.1 million in Q2.\n\n\nNon-GAAP Adjusted EBITDA...