Last C$0.14 CAD
Change Today +0.005 / 3.70%
Volume 50.5K
IVW On Other Exchanges
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As of 3:59 PM 07/30/14 All times are local (Market data is delayed by at least 15 minutes).

ivernia inc (IVW) Snapshot

Open
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Previous Close
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Day High
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Day Low
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52 Week High
01/22/14 - C$0.17
52 Week Low
06/4/14 - C$0.11
Market Cap
112.2M
Average Volume 10 Days
105.5K
EPS TTM
C$-0.06
Shares Outstanding
801.2M
EX-Date
--
P/E TM
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Dividend
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Dividend Yield
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ivernia inc (IVW) Details

Ivernia Inc., a base metal mining company, is engaged in the mining, exploration, and development of base metal properties. It mines, processes, and transports primarily lead carbonate. The company principally holds a 100% interest in the Paroo Station lead mine, which is located in the East Murchison Mineral Field in Western Australia. It serves primary and secondary smelters in China, Europe, and North America. The company was founded in 2000 and is headquartered in Toronto, Canada. Ivernia Inc. is a subsidiary of Enirgi Group Corporation.

120 Employees
Last Reported Date: 03/24/14
Founded in 2000

ivernia inc (IVW) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$300.0K
Executive Vice President of Operations
Total Annual Compensation: C$229.4K
General Manager of Rosslyn Hill Mining
Total Annual Compensation: C$372.4K
General Manager of Risk Management and Compli...
Total Annual Compensation: C$334.9K
Compensation as of Fiscal Year 2013.

ivernia inc (IVW) Key Developments

Ivernia Inc. Announces Executive Changes

Ivernia Inc. announced that Alan You Lee will become Chief Financial Officer of the company following annual meeting of shareholders. Mr. You Lee is currently the Chief Financial Officer of Enirgi Group Corporation, the company's majority shareholder, and is joining Ivernia following his recent relocation to Toronto from Sydney, Australia. Under the management services agreement between the company and Enirgi Group, Enirgi Group provides key executive officers to Ivernia. Alan You Lee brings a wealth of experience in financial leadership roles. Mr. You Lee has been with Enirgi Group and its subsidiaries for over five years. Mr. Stephen Pike, who has served as Interim CFO since September 2013, will step down on June 10, 2014 to pursue a new role within Enirgi Group but will remain available to the company to assist with the transition of the finance functions.

Ivernia Inc. - Shareholder/Analyst Call

annual meeting of shareholders

Ivernia Inc. Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2014; Reports Consolidated Operating Results for the First Quarter Ended March 31, 2014; Provides Cash Flow and Production Guidance for the Year 2014; Provides Production Guidance for the Second Quarter of 2014

Ivernia Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of USD 32,605,000. Net loss was USD 2,892,000 compared to USD 7,285,000 or USD 0.01 per basic share last year. The net loss for the quarter was partially impacted by lower LME lead prices as well as lower than expected concentrate sales and production due to the rail transportation disruption caused by the rainfall event in January 2014. Cash flow provided by operating activities was USD 1,169,000 compared to cash used in operating activities of USD 7,422,000 last year. The company reported consolidated operating results for the first quarter ended March 31, 2014. For the first quarter of 2014, the mill treated 363,600 dry metric tonnes of ore with an average head grade of 6.2% lead. The plant recovered an average of 77% of the lead in ore fed to the mill, to produce 26,300 dry metric tonnes of concentrate with an average grade of 65.6% containing 17,300 tonnes of lead metal. The company sold approximately 25,900 tonnes of concentrate containing 17,100 tonnes of lead metal. For the comparative quarter in 2013 the mine was not operational. Production during the second quarter of 2014 is expected to exceed the first quarter as head grades improve and weather conditions return to normal. The company expects that the company will remain cash flow positive for 2014, assuming current lead prices and foreign exchange rates do not materially deteriorate. However, ongoing cash flow from operating activities continues to be exposed to fluctuations in metal prices, production and shipping rates, the AUD /USD USD exchange rate and demand for lead concentrate. Despite the brief interruption due to heavy rainfall encountered during the first quarter, full year production and sales guidance remains unchanged, at between 80,000 and 85,000 tonnes of lead contained in concentrate.

 

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