-- Lundin Mining (LUN.TO) late on Thursday pre-announced certain items affecting its first-quarter financial results.
The company said first-quarter revenue is expected to be positively impacted by unaudited provisional pricing adjustments on prior-period concentrate sales of about US$22 million on a pre-tax basis. It added these adjustments primarily include upward adjustments in relation to prior period metal sales.
Items of significant impact in the first quarter are expected to include unaudited realized losses on derivative contracts of about $13 million, mostly related to gold collar contracts. Unaudited realized foreign exchange losses in the first quarter 2026 are not expected to be significant.
Lundin also expects to recognize certain non-cash items that will impact earnings but not adjusted EBITDA, adjusted earnings or adjusted earnings per share. These include an unaudited unrealized loss of about $10 million on a pre-tax basis related to the mark-to-market valuation of unexpired derivative contracts, primarily due to the revaluation of gold collar contracts. Unaudited unrealized foreign exchange gains are not expected to be significant.
Earnings from discontinued operations are expected to be positively impacted by an unaudited gain on disposal of the Eagle mine, totaling about $4 million. This amount will be excluded from adjusted EBITDA, adjusted earnings, and adjusted EPS.
Lundin received a cash payment from discontinued operations of $5 million during the quarter related to contingent consideration associated with the disposal of the European operations. This contingent consideration was recognized as income in the fourth quarter 2025 results.
The company will report first-quarter results after market close on May 6.