Extract
Cambior Records Its Most Profitable Year Ever.
LONGUEUIL, Quebec -- Cambior Inc. (TSX:CBJ) (AMEX:CBJ). All amounts are expressed in US dollars, unless otherwise indicated.
2005 HIGHLIGHTS - Net earnings of $20.2 million ($0.07 per share) - Cash flow from operating activities of $40.5 million, up 7% - Revenues of $368.5 million, up 22% - Record year of production at Rosebel (341,000 ounces at $208 per ounce) - Total production of 638,400 ounces (at $285 per ounce) - 42% increase in reserves - Operations ended at Omai Gold mine in September - Sale of the Carlota Copper project for a net gain of $12.5 million - Final deliveries on prepaid gold forward sales agreement The Company generated record net earnings in 2005 of $20.2 million (or $0.07 per share), a major reversal from the $73.8 million net loss (or $0.30 per share) incurred in 2004. Revenues increased to $368.5 million in comparison to $300.9 million the year before, mainly as a result of higher gold prices and increased revenues from non-gold operations. Cash flow from operating activities was $40.5 million in 2005 compared to $38.0 million the previous year. Following the sale of the Carlota project in December 2005, the Company recorded a gain on disposal of assets of $12.5 million. In 2004, an impairment charge of $73.1 million was recorded at the Doyon mine. Operating co...See the full content of this document
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