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Iberian Minerals Corp edges up on heavy trade after Q3 result

Iberian Minerals Corp (IZN.V) is edging up on big volumes after reporting its Q3 results. More than 5.2 million shares have changed hands, making it one of the most active on the TSXV.

Three months ended September 30, 2010

-- Recorded net loss of $97.68 million or $0.29 per registered share which included:

-- Sales of $57.48 million and gross margin of $(2.58) million;

-- A realized loss of $24.31 million on commodity hedges in the period (included in sales);

-- An unrealized non-cash loss of $97.86 million on derivative financial instruments outstanding, as a result of the increase in metal prices over the period.

-- Cash flow provided by operations before changes in non-cash working capital was $12.10 million. Cash flow provided by operations after changes in non-cash working capital was $16.20 million.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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