Revett Minerals Reports Operating and Financial Results for the Three and Nine Months Ended September 30, 2007.



    SPOKANE VALLEY, WA, Nov. 12 /CNW Telbec/ - Revett Minerals Inc.,
(TSX-RVM) ("Revett" or the "Company") is pleased to report on its operating
and financial performance for the three months and nine months ended September
30, 2007. All currency in this report is in United States dollars unless
otherwise indicated

    The key operational and financial performance results for the three
months and nine months ended September 30, 2007, included:

    
    - The Troy Mine (100% basis) reported net income before taxes of
      $13.0 million for the nine months ended September 30, 2007 and
      $1.8 million for the third quarter;
    - The Troy Mine (100% basis) generated $6.8 million cash during the nine
      months ended September 30, 2007 and $2.4 million cash during the third
      quarter of 2007;
    - Revett Minerals reported consolidated net income after taxes and non
      controlling interests of $3.9 million or $0.05 per share for the nine
      months ended September 30, 2007 and at loss of $0.1 million or ($0.00)
      per share for the three months ended September 30, 2007;
    - Because of the rock fall and related fatality which resulted in a
      twelve day cessation of under ground mining activities payable metals
      sales in the third quarter declined to 1.7 million pounds of copper and
      181,322 ounces of silver compared to 3.6 million pounds of copper and
      376,329 ounces of silver during the second quarter of 2007; and
    - Year to date metal sales are 8.1 million pounds of payable copper and
      844,873 ounces of payable silver compared to total metal sales of
      6.5 million pounds of copper and 817,250 ounces of silver for the full
      twelve months of 2006.

    Mr. Bill Orchow, President and CEO, of the Company in commenting on the
performance for the third quarter said "This quarter's performance was
significantly affected by a rock fall and related fatality that occurred on
July 30, 2007 and subsequent reduction in tons mined caused by the temporary
closure of certain areas in the East Ore Body. We believe that with the
recently received approval to recommence mining in the East Ore Body, the
Company will be able to increase production to or above the levels attained
during the second quarter."

    CONSOLIDATED RESULTS
    --------------------

    For the third quarter of 2007, Revett reported a net loss of $0.1 million
or $(0.00) per share on revenue of $9.1 million. This compared to net income
of $0.8 million or $0.01 per share during the third quarter of 2006 on revenue
of $8.4 million. The year to date net profit is $3.9 million or $0.05 per
share on record revenue of $35.7 million. For the first nine months of 2006,
the Company reported net income of $3.1 million or $0.05 per share on revenue
of $27.3 million.
    Concentrate deliveries and sales during the third quarter of 2007 totaled
1.7 million pounds of payable copper and 181,322 ounces of payable silver
compared to 1.6 million pounds of copper and 197,355 ounces of silver during
the third quarter of 2006. Year to date sales are 8.1 million pounds of copper
and 844,873 ounces of silver which exceeds total sales for the full twelve
months of 2006, which was 6.5 million pounds of copper and 817,250 ounces of
silver.
    The cost of goods sold associated with the third quarter revenue was
$7.0 million, an increase of $1.3 million (24%) over the same period in 2006.
Costs increased because of higher labor expenditures (due to more people and
higher wages), increased parts and supplies costs, and an increase in property
and state mining taxes (the latter being a direct function of metal sales).
Furthermore, during the temporary cessation of operations following the rock
fall, all employees were kept on payroll. On an operating cost basis the cost
per ton milled (calculated as mining costs per ton milled plus milling costs
per ton milled plus mine indirect costs per ton milled) rose to $32.69 per ton
compared to $26.56 per ton in the third quarter of 2006. In the second quarter
of 2007, operating costs per ton milled averaged $22.04 per ton. The increase
in operating costs per ton milled was a function of the low mill throughput
and maintaining all employees on payroll while operations were temporarily
halted.
    Depreciation and amortization in this quarter was $0.3 million compared to
$0.3 million in the third quarter of 2006 and $0.4 million in the second
quarter of 2007. The Company uses the units-of-production method to depreciate
the majority of Troy's plant and equipment and therefore changes in throughput
and ore reserves will result in corresponding adjustments to these expense
items. The reclamation and closure accretion expense was $0.2 million in the
third quarter of 2007 compared to $0.01 million in the second quarter of 2006
and $0.2 million in the second quarter of this year.
    Exploration and development costs totaled $0.7 million in the third
quarter of 2007 and have totaled $1.8 million year to date compared to
$0.3 million in the third quarter of 2006 and $0.9 million for the first nine
months of 2006. These costs have increased because of the continuation of the
Troy Complex exploration program announced earlier this year.
    General and Administration costs were $1.0 million in the third quarter of
2007, essentially the same as the second quarter of 2007 and compared to $0.7
million in the third quarter of 2006. The main factor affecting the general
and administration costs on a quarter over quarter basis are changes in
employees' stock option compensation expense and any special projects
undertaken by the Company to comply with emerging securities laws and
regulations. Finally interest income and foreign exchange gains, net of
interest expense, totaled $0.4 million in the third quarter of 2007 compared
to net interest expense of $0.1 million during the second quarter of 2006.
    As a result, net income before non controlling interest and taxes was $0.4
million for the third quarter of 2007 and $7.3 million for the year to date
compared to $1.2 million for the third quarter of 2006 and $5.1 million for
the first nine months of 2006. During the third quarter of 2007, there was a
net loss after non controlling interest and taxes was $0.1 million or $(0.00)
per share bringing the year to date net income after tax and non controlling
interest to $3.9 million or $0.05 per share. In 2006, the third quarter net
income was $0.8 million or $0.01 per share and for the first nine months of
2006 net income was $3.1 million or $0.05 per share.
    At September 30, 2007, the Company's cash and cash equivalents and short
term investments, which consists of cash invested in fixed income securities,
totaled $26.0 million compared to $27.6 million as at June 30, 2007. The
decrease in cash was a primarily a result of the Company making a significant
tax payment to the U.S. government.

    THE TROY MINE
    -------------

    The table below illustrates certain key operating statistics for Troy
(100% basis) for the three months ended September 30, 2007, with a comparison
to the previous quarter and also for the three months ended September 30,
2006.


                                           Three         Three         Three
                                          Months        Months        Months
                                           Ended         Ended         Ended
                                        Sept. 30,      Sept 30,      June 30,
                                            2007          2006          2007
                                        --------     ---------     ----------

    Tons milled                          208,186       227,093       337,712
    Tons milled per day                    2,263         2,468         3,711
    Operating cost per ton milled (USD)    32.89         25.56         22.04
    Copper grade (%)                        0.49          0.50          0.59
    Silver grade (opt)                      1.06          1.19          1.24
    Copper recovery (%)                     86.1          85.0          87.1
    Silver recovery (%)                     88.6          88.0          88.5
    Copper produced (lbs)              1,753,207     1,929,940     3,490,930
    Silver produced (ozs)                195,599       238,538       372,332


    Production during the third quarter was adversely affected by the rock
fall and associated fatality that occurred in the East Ore Body on July 30.
Because of this incident, the Mines Safety and Health Administration ("MSHA")
ordered that the mining operations remain suspended until August 12, 2007 when
operations resumed in certain areas of the mine. While tons milled per day is
reported at 2,263 tons, this measure assumes that the mine operated for the
full 92 calendar days, however if we adjust this measure by the 12 days that
the mine was closed , then tons milled per day was 2,602 tons, better than
milled throughput in the comparable quarter for 2006. Additionally, areas in
the East Ore Body nearby the area of the rock fall were ordered off limits
until the third week in October when mining operations were allowed to resume
in most affected areas. Prior to the rock fall, the majority of ore was being
sourced from the East Ore Body in or close to the area that the rock fall
occurred in. Thus the mine was forced to switch from the East Ore Body to
other areas in the mine which had lower grade ore and the mine did not have a
sufficient number of developed areas to maintain production at levels
experience just prior to the rock fall incident.

    ABOUT REVETT
    ------------

    Revett Minerals, through its subsidiaries, has a 69% interest in Revett
Silver Company which in turn has a 100% interest in both the Rock Creek
Project and the Troy Mine, both of which are located in northwest Montana.
Based on the drilling to date, Rock Creek contains an estimated inferred
resource of 137 million tons grading 1.67 ounces silver per ton and 0.72%
copper, containing approximately 229 million ounces of silver and over
2 billion pounds of copper using a cut off grade of US $10.00 per ton. Further
information on both the Troy Mine and the Rock Creek Project may be found in
the National Instrument 43-101 reports at www.sedar.com. These reports were
prepared on behalf of the Company by Mr. Jean-Francois Couture, P.Geo. and
Mr. Ken Reipas, P.Eng. of SRK Consulting (Canada). Both Mr. Couture and
Mr. Reipas are Qualified Persons in accordance with National Instrument
43-101. All of these issues are discussed in greater detail in the Company's
official filings at www.sedar.com.

    William Orchow
    President & CEO

    Except for the statements of historical fact contained herein, the
information presented in this press release may contain "forward-looking
statements" within the meaning of applicable Canadian securities legislation
and The Private Securities Litigation Reform Act of 1995. Such forward-looking
statements, including but not limited to those with respect to the price of
silver and copper, the estimation of mineral reserves and resources, the
realization of mineral reserve estimates, the effect on the Company's
operations of pending or planned legal challenges, the timing and amount of
estimated future production, industrial accidents, and costs of production,
all involve known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Generally, these
forward looking statements can be identified by the use of forward-looking
terminology such as "plans", "expects", or "does not expect", "is expected",
"is not expected", "budget", "plans", "schedule", "estimates", "forecasts",
"intends", "anticipates", "or does not anticipate" or "believes" or variations
of such words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward looking statements are subject to known and known risks, uncertainties
and other factors. Such other factors may include, among others, ground
control problems and flooding, metallurgical recovery problems, ore grade or
tonnage shortfalls, labor disruptions or shortages of skilled labor, risks
relating to environmental laws and regulations, the actual results of
exploration activities, actual results of current reclamation activities,
conclusions of economic evaluations, changes in project parameters as plans
continue to be refined, future metal prices, changes in the quantity and costs
of producing copper concentrate as well as those factors discussed in the
section entitled "Risk Factors" in the annual information form filed on SEDAR
at www.sedar.com. Although the Company has attempted to identify important
factors that could cause actual results to differ materially, there may be
other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Revett Minerals does not undertake to
update any forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.


    Revett Minerals Inc.
    Consolidated Balance Sheets
    at September 30, 2007
    (expressed in thousands of United States dollars except share and per
    share amounts)

                                                     September      December
                                                      30, 2007      31, 2006
                                                    (unaudited)
                          Assets

    Current Assets
    Cash and cash equivalents                      $    21,096   $    19,862
    Short term investments                               4,916         3,940
    Receivables                                          1,943           980
    Inventories (note 3)                                 4,589         4,005
    Prepaid expenses and other                           1,718           512
                                                   --------------------------
        Total current assets                            34,262        29,299

    Property, plant, and equipment (net) (note 4)       57,529        56,012
    Restricted cash (note 5)                             7,298         7,043
    Other long term assets                               1,240         1,849
                                                   --------------------------

        Total assets                               $   100,329   $    94,203
                                                   --------------------------
                                                   --------------------------

             Liabilities and shareholders equity

    Current liabilities
    Accounts payable and accrued liabilities       $     5,386   $     5,848
    Current portion of lease and note obligations        9,875         4,387
                                                   --------------------------
        Total current liabilities                       15,261        10,235

    Long-term portion of debt (note 6)                   2,207         9,354
    Reclamation and remediation                          7,066         7,603
    Future income tax                                    9,425         8,353
                                                   --------------------------
        Total liabilities                               33,959        35,545
                                                   --------------------------
    Non controlling interest                            10,353         8,524


                    Shareholders' equity

    Preferred stock, no par value, unlimited
     authorized, nil issued and outstanding
    Common stock, no par value unlimited
     authorized, 73,197,703 (2006 - 71,904, 088)
     shares issued and outstanding (note 7)             55,316        53,989
    Contributed surplus                                  1,464           816
    Accumulated other comprehensive income                   -             -
    Deficit                                               (763)       (4,671)
                                                   --------------------------
                                                        56,017        50,134

        Total liabilities and shareholders equity  $   100,329   $    94,203
                                                   --------------------------
                                                   --------------------------

    See accompanying notes to interim consolidated financial statements.


    Revett Minerals Inc.
    Consolidated Statement of Operations
    Three and nine months ended September 30, 2007 and 2006
    (expressed in thousands of United States dollars except share and per
    share amounts)
    (unaudited)

                       Three month   Three month    Nine month    Nine month
                            period        period        period        period
                         September     September     September     September
                          30, 2007      30, 2006      30, 2007      30, 2006

    Revenues           $     9,136   $     8,405   $    35,754   $    27,339
    Expenses:
    Cost of sales            7,049         5,702        23,356        17,925
    Depreciation and
     amortization              280           320         1,115         1,072
    Exploration and
     development               656           302         1,756           943
    General &
     administrative          1,074           736         3,113         1,952
    Accretion of
     reclamation and
     remediation
     liability                 162            30           485            97
                       ------------------------------------------------------
                             9,221         7,090        29,825        21,989
                       ------------------------------------------------------
        Income (loss)
         from operations       (85)        1,315         5,929         5,350

    Other expenses
     (income):
    Interest expense           336           309         1,079           826
    Interest and other
     income                   (326)         (203)       (1,017)         (552)
    Foreign exchange
     (gain) loss              (449)            3        (1,415)            -
                       ------------------------------------------------------
        Total other
         expenses             (439)          109        (1,353)          274
                       ------------------------------------------------------

    Net income before
     non controlling
     interest and taxes        354         1,206         7,282         5,076
                       ------------------------------------------------------

    Income taxes
     (recovery)               (385)          105           944           747
                       ------------------------------------------------------

    Net income before
     non controlling
     interest                  739         1,101         6,338         4,329
                       ------------------------------------------------------

    Non controlling
     interest                  859           329         2,430         1,255
                       ------------------------------------------------------

    Net income (loss)
     for the period    $      (120)  $       772   $     3,908   $     3,074
                       ------------------------------------------------------
                       ------------------------------------------------------

    Basic earnings
     (loss) per share  $     (0.00)  $      0.01   $      0.05   $      0.05
                       ------------------------------------------------------
                       ------------------------------------------------------

    Diluted earnings
     (loss) per share  $     (0.00)  $      0.01   $      0.05   $      0.05
                       ------------------------------------------------------
                       ------------------------------------------------------

    Weighed average
     number of shares
     outstanding        73,197,703    60,048,714    72,976,235    60,047,923
                       ------------------------------------------------------
                       ------------------------------------------------------

    Weighted average
     number of diluted
     shares
     outstanding        73,197,703    60,267,964    73,542,289    60,267,173
                       ------------------------------------------------------
                       ------------------------------------------------------

    See accompanying notes to interim consolidated financial statements.


    Revett Minerals Inc.
    Consolidated Statement of Cash Flow
    Three and nine months ended September 30, 2007 and 2006
    (expressed in thousands of United States dollars except share and per
    share amounts)
    (unaudited)

                       Three month   Three month    Nine month    Nine month
                            period        period        period        period
                         September     September     September     September
                          30, 2007      30, 2006      30, 2007      30, 2006

    Cash flows from
     operating
     activities:
    Net income (loss)
     for the period    $      (120)  $       772   $     3,908   $     3,074
    Adjustment to
     reconcile loss
     to net cash
     used by operating
     activities
      Depreciation and
       amortization            280           320         1,115         1,072
      Accretion of
       reclamation and
       remediation
       liability               162            30           485            97
      Stock based
       compensation            152            (4)          648            21
      Loss on disposal
       of fixed assets           7             -             7             -
      Future income
       tax expense
       (recovery)             (385)          105           944           747
      Non controlling
       interest                859           329         2,430         1,256
      Accrued interest on
       reclamation bond        (87)          (82)         (254)         (241)
      Amortization of
       prepaid insurance
       premium                  14            34           107           112
      Change in FV of
       forward contracts      (594)            -         1,051             -

    Changes in:

    Accounts
     receivable              2,509         3,730          (963)         (794)
    Inventory                 (333)       (1,077)         (584)       (2,625)
    Prepaid expenses
     and other              (1,030)           40        (1,206)          (29)
    Accounts payable          (931)         (201)       (1,517)          332
                       ------------------------------------------------------
    Net cash used by
     operating
     activities                503         3,996         6,171         3,022
                       ------------------------------------------------------

    Cash flows from
     investing
     activities:
      Proceeds (sale)
       of short term
       investments             968         2,494          (976)        4,521
      Other long term
       assets                   25            58           502           128
      Purchase of
       plant and
       equipment              (429)       (1,045)       (1,296)       (1,214)
      Purchase of
       minority
       interest             (1,003)                     (1,003)
                       ------------------------------------------------------
    Net cash provided
     (used) by
     investing
     activities               (439)        1,507        (2,773)        3,435
                       ------------------------------------------------------

    Cash flows from
     financing
     activities:
      Proceeds form
       the issuance
       of common
       stock, net                -             4         1,327             4
      Proceeds from
       long term debt            -           650             -           650
      Repayment of debt       (402)         (577)       (2,746)       (1,648)
      Repayment of
       capital leases         (321)         (156)         (745)         (373)
                       ------------------------------------------------------
    Net cash from
     (used by)
     financing
     activities               (723)          (79)       (2,164)       (1,367)
                       ------------------------------------------------------

    Net (decrease)
     increase in cash
     and cash
     equivalents              (659)        5,424         1,234         5,090
      Cash and cash
       equivalents,
       beginning of
       period               21,755         4,274        19,862         4,608
                       ------------------------------------------------------
      Cash and cash
       equivalents,
       end of period   $    21,096   $     9,698   $    21,096   $     9,698
                       ------------------------------------------------------
                       ------------------------------------------------------

    Supplementary cash
     flow information:
      Cash paid for
       interest
       expense         $      519    $       423   $     1,306   $     1,168
      Income taxes
       paid            $    1,200    $         -   $     1,200   $         -

    Non cash
     transactions:     $        -    $         -   $     1,834   $         -
      Purchase of
       equipment
       through
       capital lease

    See accompanying notes to interim consolidated financial statements.


    Revett Minerals Inc.
    Consolidated Statement of Shareholders' Equity
    Nine months ended September 30, 2007 and 2006
    (expressed in thousands of United States dollars except share and per
    share amounts)
    unaudited

                                                Contri-
                            Common Shares        buted
                            -------------       ------
                          Shares     Amount    Surplus    Deficit      Total
                          ------     ------    -------    -------      -----

    Balance,
     December 31,
     2005             60,047,503 $   42,701 $      243 $   (2,940) $  40,004
    Issued on the
     exercise of
     stock options                                                         -
    Issued on the
     exercise of
     share purchase
     warrants                  -          -                                -
    Stock-based
     compensation on
     options granted                                 -                     -
    Net income for
     the period                                             3,074      3,074
                      -------------------------------------------------------
    Balance,
     September
     30, 2006         60,047,503 $   42,701 $      243 $      134 $   43,078
                      -------------------------------------------------------
                      -------------------------------------------------------

                                                Contri-
                            Common Shares        buted
                            -------------       ------
                          Shares     Amount    Surplus    Deficit      Total
                          ------     ------    -------    -------      -----

    Balance,
     December 31,
     2006             71,904,088 $   53,989 $      816 $   (4,671) $  50,134
    Issued on the
     exercise of
     stock options                                                         -
    Issued on the
     exercise of
     share purchase
     Warrants          1,293,615      1,327                            1,327
    Stock-based
     compensation
     on options
     granted                                       648                   648
    Net income
     for the period                                         3,908      3,908
                      -------------------------------------------------------
    Balance,
     September
     30, 2007         73,197,703 $   55,316 $    1,464 $     (763) $  56,017
                      -------------------------------------------------------
                      -------------------------------------------------------

    See accompanying notes to interim consolidated financial statements.
    
    %SEDAR: 00021518E




For further information:

For further information: Scott Brunsdon, CFO or Doug Ward, VP Corporate
Development, (509) 921-2294, or visit our website at www.revettminerals.com;
Renmark Financial Communications Inc.: Jason Roy, jroy@renmarkfinancial.com;
Maurice Dagenais, mdagenais@renmarkfinancial.com, (514) 939-3989, Fax: (514)
939-3717, www.renmarkfinancial.com

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