Quadra Mining Ltd. (TSX:QUA) has reported earnings of US$79.8 million for the quarter ending March 31. That's an increase of just over 85% for the Vancouver-based copper and gold miner compared with the same quarter in 2007, when it posted earnings of US$43.1 million.
Revenue from concentrate sales increased to US$198 million for 2008's first quarter, up from US$136.5 million for 2007's first quarter.
The company also realized a US$24 million positive price adjustment in the quarter related to fourth-quarter provisional sales.
The mining firm saw per-pound copper prices increase to US$3.82 on March 31 from US$3.04 on December 31.
Quarterly copper and gold production hit record levels at Quadra's Robinson copper mine near Ely, Nevada. The company also holds interests in projects in Arizona, Chile and Greenland.
Quadra's share price during the past week: between $24.26 and $26.31; 52-week high: $26.41; 52-week low: $11.03.