VANCOUVER, BC, April 17, 2024 /CNW/ - (TSX:LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pre-announcing certain items impacting the Company's quarterly earnings, adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA")1, adjusted earnings1 and adjusted earnings per share1. Foreign Exchange and Derivatives Items of significant impact in the first quarter 2024 are expected to include unaudited foreign exchange and trading gains on debt and equity investments supporting the capital funding for the Josemaria Project of approximately $8 million on a pre-tax basis, unaudited realized gains on foreign exchange and diesel derivative contracts of approximately $4 million on a pre-tax basis and unaudited realized gains on foreign exchange of approximately $11 million on a pre-tax basis, primarily relating to payments in Chilean pesos during the quarter. In the first quarter 2024 the Company is also expected to recognize certain non-cash items that will impact the Company's earnings but not adjusted EBITDA, adjusted earnings or adjusted earnings per share. These include an unaudited non-cash unrealized gain on foreign exchange of approximately $16 million on a pre-tax basis, primarily due to the weakening of the Chilean peso during the quarter, and an unaudited non-cash unrealized loss of approximately $53 million on a pre-tax basis related to the mark-to-market valuation of the Company's unexpired foreign exchange and diesel derivative contracts. Unexpired foreign exchange derivative contracts include zero cost collar contracts of $921 million (equivalent to 898 billion Chilean pesos) entered into during the first quarter 2024 and expiring in the remainder of 2024 through 2026. Provisional Pricing Adjustments Revenue in the first quarter 2024 is expected to be positively impacted by unaudited provisional pricing adjustments on prior period concentrate sales of approximately $2 million on a pre-tax basis. These adjustments primarily include upward adjustments in relation to copper and nickel sales, partially offset by downward adjustments on molybdenum and zinc sales. The financial results for the three months ended March 31, 2024, will be published on Wednesday, May 1, 2024. About Lundin Mining Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel. The information was submitted for publication, through the agency of the contact persons set out below on April 17, 2024 at 14:30 Pacific Time. __________________________________ 1 These measures are non-GAAP measures. These performance measures have no standardized meaning within generally accepted accounting principles under International Financial Reporting Standards and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. For additional details please refer to the Company's discussion of non-GAAP and other performance measures ...