First Quantum Miner : MARKET TALK : TD says First Quantum's Ravensthorpe Surprises
05/03/2012| 11:20am US/Eastern
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(Dow Jones) First Quantum Minerals' (FM.T) 1Q EPS of 20c fell shy of analyst estimates but the miner's copper and nickel output were ahead of expectations and all project development timelines appear to be on track, TD says. Firm notes that FM.T's Ravensthorpe nickel mine in Australia, which achieved commercial production at the end of December, operated at a surprising 88% of targeted annual production in the first quarter. It called the mine a "success against tall odds (so far)".
(carolyn.m.king@dowjones.com)
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