RIO DE JANEIRO, BRAZIL--(Marketwire - May 15, 2009) - MMX Mineração e Metálicos S.A.
(BOVESPA: MMXM3) announces its 1Q09 Results. To access the complete
Earnings Release, please click below.
1Q09 Highlights
-- 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.
http://mmx.infoinvest.com.br/enu/1490/EarningsRelease1T09_INGLES_15.05.2009_final.pdf
The Executive Officers of MMX, invite its shareholders and the market in
general to a conference call to be held on Monday, May, 18th, at 11:00 am
(NY time) to discuss the 1Q09 Results.
The conference call will be held in Portuguese with simultaneous
translation into English.
Audio Conference
Date: May 18th, 2009 (Monday)
Time: 11:00 a.m. (NY time) 12:00 p.m. (Brasilia time)
Telephone USA: 1-888-700-0802
Telephone Brazil: (+55)11-4688-6301
Telephone Other Countries: 1-786-924-6977
Access Code: MMX
Please dial-in 15 minutes prior to the start of the call.
Contact Information: MMX Mineração e Metálicos S.A.
Chequer Hanna Bou-Habib
Investor Relations Officer
Investor Relations
Priscylla Setimi
IR Analyst
Tel.: (55 21) 2555-5558
ri@mmx.com.br