First Quantum Minerals 2000 at a Glance
January 4, 2000 - First Quantum shares open the year trading at $2.33 per share.
January 10, 2000 - First Quantum & Glencore International Consortium concludes heads of agreement with the Government of the Republic of Zambia and Zambian Consolidated Copper Mines ("ZCCM"). The consortium will purchase a 90% interest in Mopani Copper Mines PLC which will acquire the assets of ZCCM's Mufulira Division and the Nkana Mines, Concentrator and Cobalt Plant.
January 11, 2000 - FM shares posted and called for trading on the Toronto Stock Exchange.
January 26, 2000 - FM announces record fourth quarter copper production at Bwana Mkubwa Copper Mine of 5,725,992 pounds of LME grade copper cathode. For the full year 1999 copper costs net of credits fall to $0.02 /LB on 21,205,252 pounds of LME grade copper cathode.
February 18, 2000 - First Quantum shares hit a year high closing at $4.40 per share.
March 15, 2000 - CDN $ 2.06 million private placement financing closes at CDN $3.75 per share.
April 3, 2000 - First Quantum Minerals & Glencore International Consortium complete transaction with ZCCM.
April 18, 2000 - FM announces 1999 year end financial results. Revenues increase 73% to US $34 million with cash flow per share of US $0.41. Cash operating cost of copper net of credits were US $0.08 per pound.
April 26, 2000 - First quarter 2000 production statistics announced. Bwana Mkubwa Copper Mine produces 5,408,616 pounds of LME grade copper cathode compared to 5,122,096 during the same period in 1999.
May 1, 2000 - First quarter 2000 financial results. Earnings US $0.01 per share, cash flow US $0.09 per share.
May 6, 2000 - FM acquires exploration portfolio from Phelps Dodge, Mr. Alan Stephens joins Company as Vice President Exploration.
May 18, 2000 - Newcrest Capital Inc. initiates coverage with "Speculative Buy" target $6.00.
June 26, 2000 - Second quarter 2000 production statistics announced. Bwana Mkubwa Copper Mine produces 5,690,728 pounds of LME grade copper cathode compared to 4,901,600 during the same period in 1999. Cash operating costs were $0.05 per pound net of credits.
July 26. 2000 - FM announces production update on Mopani Copper Mines Plc (44% First Quantum Minerals, 46% Glencore International). During the two months included in the second quarter ending May 31, 2000 Mopani sold 21,596,663 pounds of LME grade copper cathode and 173,943 pounds of cobalt.
July 31, 2000 - Second quarter 2000 financial results. Earnings US $0.04 per share, cash flow US $0.17 per share. Six Month Highlights - Earnings US $0.05 per share, cash flow US $0.26 per share. Copper production 21,641,400, Cobalt production 85,232 pounds.
August 3, 2000 - Sprott Securities Ltd. initiates coverage with "Speculative Buy" target $5.70.
September 8, 2000 - Jennings Capital Inc. initiates coverage with "Buy" target $6.25.
September 28, 2000 - Sprott Securities upgrades recommendation to "Buy" target $6.50.
October 2, 2000 - Newcrest Capital upgrades recommendation to "Buy" target $6.00.
October 10, 2000 - Canaccord Capital (Europe) Ltd. initiates coverage with "Strong Buy" target $6.10.
October 10, 2000 - Northern Securities Inc. initiates coverage with "Buy" target $7.50.
October 17, 2000 - Dundee Securities Corp. initiates coverage with "Buy" target $5.00.
October 30, 2000 - Third quarter 2000 financial results. Earnings US $0.09 per share, cash flow US $0.18 per share. Nine Month Highlights - Earnings US $0.13 per share, cash flow US $0.44 per share. Copper production 44,433,400 pounds, a 188% increase over 1999. Revenues of US $56.8 million, a 128% increase over 1999. Earnings of US $3.35 million compared to a loss of US $0.38 million in 1999.
November 3, 2000 - Goepel McDermid Inc. initiates coverage with "Buy" target $6.00.
November 14, 2000 - FM announces deal with Billiton Plc to explore projects in Zambia. Under the terms of the agreement Billiton commits to a private placement in First Quantum for 222,222 common shares at a price of CDN $4.50 per share and will spend US $2.4 million to earn a 51% participanting interest in the Company's Mwinilunga and Luamata Projects.
December 21, 2000 - FM completes a private placement of CDN $14.81 million, through Canaccord Capital (Europe) Limited acting as agent.
December 29, 2000 - First Quantum shares finish the year trading at $3.10 per share. |
