Lundin Mining Corp. (TSX:LUN) reported a 2007 fourth-quarter loss of $437 million, despite a 7% increase in sales revenue compared with the same period in 2006.
The company said the loss resulted from $492 million in writedowns and goodwill related to its merger with EuroZinc Mining Corp. and purchase of Rio Narcea Gold Mines in 2006, which was worth an estimated $925 million.
Based in Vancouver, Lundin said the quarterly loss amounted to $1.11 per share.
The company warned last month that charges related to the merger and acquisition would be sizable.
Lundin's share price range during the last week: between $7.26 and $8; 52-week high: $15.84; 52-week low: $6.95.