Malaga Inc. Reports Financial and Production Results for the Year Ended December 31, 2012
April 03, 2013 at 07:44 pm EDT
Malaga Inc. reported financial and production results for the year ended December 31, 2012. For the year, the company generated a net loss of $19.9 million or for a loss per share of $0.11 against net income of $5.6 million in 2011 or earnings per share of $0.03 in 2011. The net loss in 2012 was impacted by the non-cash impairment charge of $14.7 million and a charge of $2.6 million for the creation of the provisions for impaired sales tax receivable and income tax receivable. Sales amounted to $13.0 million during the year which includes $1.1 million from copper sales, a by-product at Pasto Bueno against $20.88 million a year ago. EBITDA was $169,000 against $6,086,000 a year ago.
For the year, the company reported production of 34,836 MTU against 55,357 MTU a year ago.