TSX: LBE
TORONTO, Aug. 14, 2012 /CNW/ - Liberty Mines Inc. (TSX: LBE) ("Liberty" or the "Company") today reported its financial results for the three- and six-month periods ended June 30, 2012. All amounts are in Canadian currency.
"Our second quarter performance was effectively marked by the re-start of operations and the ramp-up of production," said Chris Stewart, President and CEO of Liberty Mines. "While Q2 results included our highest production of concentrate and our highest revenue total in nearly two years, our progress was impeded by the nickel price declining by more than 25 percent in the past six months and generally unfavorable market conditions. In response to the current market environment, we are undertaking a full review of our strategy and operational activities to reduce costs and improve efficiencies. To maximize the value of our ore for when nickel prices recover, we are temporarily suspending production immediately."