Red Back Mining Inc. (Red Back) is a mineral resource corporation engaged in operating, exploring, acquiring and developing mineral properties. The Company owns two gold mines in West Africa. In Ghana, it holds a 100% interest in the producing Chirano Gold Mine (Chirano). The Chirano Gold Mine comprises one mining lease and one prospecting license held through the Company’s 100% subsidiary, Chirano Gold Mines Limited (CGML). In Mauritania, the Company holds a 100% interest in the producing Tasiast Gold Mine (Tasiast). Tasiast comprises one mining lease held through the Company’s 100% owned subsidiary Tasiast Mauritanie Limited SA (TMLSA). Red Back also holds various other exploration properties in Ghana, Mauritania and Cote D’ Ivoire.
Quick Financial Synopsis
BRIEF: For the nine months ended 30 September 2009, Red Back Mining Inc.'s revenues increased 21% to $204.4M. Net income increased 58% to $85.1M. Revenues reflect an increase in sales from Ghana segment and higher income from Mauritania segment. Net income also reflects a decrease in stock based compensation expenses, higher interest income, an increase in gain on sale of securities, the presence of other income and improved gross margins.
Company Address
Red Back Mining Inc.
2101 - 885 West Georgia Street Vancouver BC V6C 3E8
P: +1604.6897842 F: +1604.6895452