05:37 PM EDT, 10/16/2024 (MT Newswires) -- Lundin Mining Corporation ( LUNMF ) after trade Wednesday pre-announced certain items impacting the company's quarterly earnings, Adjusted EBITDA, Adjusted Earnings and Adjusted EPS.

On Foreign Exchange and Derivatives, Lundin said items of significant impact in the third quarter 2024 are expected to include unaudited foreign exchange and trading gains on debt and equity investments supporting the capital funding for the Josemaria Project of approximately $7 million. Unaudited realized losses on foreign exchange and unaudited realized gains on foreign exchange and commodity derivative contracts were not significant in the quarter, it added.

In the third quarter 2024 the company is also expected to recognize certain non-cash items that will impact the company's earnings but not adjusted EBITDA, adjusted earnings or adjusted earnings per share. These include an unaudited non-cash unrealized loss on foreign exchange of approximately $13 million on a pre-tax basis, and an unaudited non-cash unrealized gain of approximately $31 million on a pre-tax basis related to the mark-to-market valuation of the company's unexpired foreign exchange and commodity derivative contracts.

On Provisional Pricing Adjustments, revenue during the third quarter 2024 is expected to be negatively impacted by unaudited provisional pricing adjustments on prior period concentrate sales of approximately $5 million on a pre-tax basis. These adjustments primarily include downward adjustments in relation to prior period copper and molybdenum sales, partially offset by upward adjustments in relation to prior period gold sales.

Also, Lundin said during the third quarter ramp rehabilitation at Eagle East "continued to progress". An unaudited amount of approximately $15 million, related to overhead costs from the partial suspension of underground operations, is expected to impact the company's earnings for the quarter. This amount will be excluded from adjusted EBITDA, adjusted earnings, and adjusted earnings per share. Mining rates are anticipated to increase during the fourth quarter of 2024.

LUN rose 2.7% to $14.44 today.