Lundin Mining Pre-Announces Items Impacting the Fourth Quarter 2023 Results

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[{"type":"text","content":"\n \n \n \n Lundin Mining Pre-Announces Items Impacting the Fourth Quarter 2023 Results\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Jan. 29, 2024\n \n \n /CNW/ - (TSX: LUN) (Nasdaq Stockholm: LUMI)\n \n Lundin Mining Corporation\n \n (\"Lundin Mining\" or the \"Company\") is pre-announcing certain items impacting the Company's quarterly earnings, adjusted earnings before interest, taxes, depreciation and amortization (\"adjusted EBITDA\")\n \n 1\n \n , adjusted earnings\n \n 1\n \n and adjusted earnings per share\n \n 1\n \n .\n \n \n \n Foreign Exchange and Derivatives\n \n \n \n Items of significant impact in the fourth quarter 2023 are expected to include unaudited foreign exchange and trading gains on debt and equity investments supporting the capital funding for the Josemaria Project of approximately\n \n $19 million\n \n on a pre-tax basis and unaudited realized gains on foreign exchange and diesel derivative contracts of approximately\n \n $9 million\n \n on a pre-tax basis.\n \n \n In the fourth quarter 2023 the Company is also expected to recognize an unaudited non-cash unrealized gain of approximately\n \n $19 million\n \n on a pre-tax basis related to the mark-to-market valuation of the Company's unexpired foreign exchange and diesel derivative contracts. This non-cash gain will impact the Company's earnings but not adjusted EBITDA, adjusted earnings or adjusted earnings per share.\n \n \n \n Provisional Pricing Adjustments\n \n \n \n Revenue in the fourth quarter 2023 is expected to be negatively impacted by decreases in metal prices for molybdenum and nickel during the quarter. The sales volume during the quarter for molybdenum and nickel was 978 to...

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