Quadra Mining Ltd. (TSX:QUA) has reported a 28% increase in quarterly revenue and a 78% rise in quarterly profit for the period ending June 30.
Second-quarter revenue from the Vancouver company's metal sales rose to $180.6 million from $141.1 million. Strong copper and gold prices and sales from metals produced at its Robinson mine contributed to the improved results.
Quadra's profit in its second quarter rose to $65 million from $36.6 million.
With $262 million in cash and no debt, the company said it's well positioned to pursue further merger and acquisition activity to continue to expand its business.
Quadra's share price range during the past week: between $15.34 and $18.12; 52-week high: $27; 52-week low: $13.33.