1Q09
Small Font Size Large Font Size BackBack PrintPrint E-mailE-mail PDF DownloadDownload Share
MMX Mineração e Metálicos S.A. (“MMX” or “Company”) (BOVESPA: MMXM3) releases its consolidated results for the First Quarter 2009 (1Q09) in Reais according to the accounting standards adopted in Brazil.
  • Notice of Issuance of debentures to be underwritten by the Controlling shareholder and related parties by the Controlling shareholder in the amount of US$ 200 million, according to the Public Announcement published on March 30, 2009, which will be underwritten according to the cash requirements of the Company during a six-month period. However, this operation does not impact the cash position determined for 1Q09. R$ 80 million have been already subscribed up to now, which will impact positively the cash position for the second quarter of 2009.

  • MMX opted to unwind proactively its positions of NDF (“Non Deliverable Forward”) in order to establish its potential losses. During 1Q09 a hedge adjustment was paid off, amounting to R$ 40.2 million and the remaining balance in April, May, July and August of 2009 was partially unwinded. The provision with possible loss booked in the amount of R$ 425.2 million in December 31, 2008 to the current amount of R$ 343.8 million in March 31, 2009, which had a positive impact of R$ 41.2 million over 1Q09 Financial Expense.
Contact IR
Speak with MMX to clarify doubts and offer suggestions. Click here
IR Alerts
Receive alerts from MMX and stay informed.
Copyright © 2010 MMX
All rights reserved
Private Policy | Terms of Use
RIWeb