Shares Outstanding; 363 Million
Symbol & Exchange: BN-TSX
MONTREAL, March 28 /CNW Telbec/ - Blue Note Mining Inc. announces that it
has published its financial statements and Management's Discussion and
Analysis for the year ended December 31, 2007. Key highlights include:
- Blue Note realized net revenues of $24.4 million from mining operations
which, during the ramp-up phase, had been recorded as a reduction of
- Blue Note invested $86.8 million in the re-opening of the Caribou and
Restigouche mines and $1.5 million in exploration activities in 2007.
- Milling operations commenced in July, processing 298,459 tonnes of ore
in 2007 and producing 18,672 tonnes of zinc concentrate and
14,673 tonnes of lead concentrate.
- Commercial production was declared effective January 1, 2008.
- At December 31, 2007, cash and cash equivalents stood at $38.5 million.
- The Corporation realized a net loss of $11.8 million or $0.04 per share
in 2007 compared to a net loss of $5.5 million or $0.04 per share in
Additional information relating to the Corporation is available on SEDAR
Blue Note Mining is a Canadian mining company headquartered in Montreal
with operations in Bathurst, New Brunswick. The company's shares trade on the
TSX under the symbol BN.
This news release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws that involve
risks and uncertainties. Although the company believes the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, it can give no assurances that its expectations will be achieved.
Factors that could cause actual results to differ materially from expectations
include the effects of general economic conditions, actions by government
authorities, uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the Company's products and
competitive pressures. These factors and others are more fully discussed in
Company filings with Canadian securities regulatory authorities.
The TSX does not accept responsibility for the adequacy or accuracy of
this news release.
For further information:
For further information: Lorne Woods, Vice President Investor Relations,
Blue Note Mining, (800) 937-3095, email@example.com;