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Canada Goose Parka Although it only contributed for two months in 2014, Candelaria generated $215 million in revenues and $68 million in operating earnings, representing 23 percent and 22 percent of Lundin’s entire revenues and operating earnings in 2014.The mine is expected to more than double its 2014 copper production levels this year, with a five year optimization plan underway.Lundin also benefited from bringing its Eagle nickel mine into full scale production, ahead of schedule and under budget. “The mine generates good margins given the unit costs of $2.79/lb of nickel in Q4 with guidance of $2.00/lb in 2015.”We canada goose discount uk estimate Eagle could be Lundin’s biggest free cash flow generator in 2015 and higher nickel prices should have significant impact on free cash canada goose accessories uk flow generation,” wrote Charles in a research note released to clients earlier today.”There were lots of moving parts Q/Q and Y/Y due to the addition of Candelaria (a game changer) and the ramp up at Eagle, but overall we were pleased with the results,” he added.As expected, Dundee said Lundin proactively reduced its exploration budget by 20 percent and capex by 15 percent for 2015, to $460 million versus $545 million previously. Updated operating costs guidance is expected with first quarter results.The increased price target from Dundee is based on a rise in the broker’s EBITDA estimate for Lundin this year, mainly on the back of better than expected performance at the Eagle mine and Candelaria.It also noted, however, that canada goose uk official its 2015 earnings per share forecast was impacted by higher depreciation at Candelaria than originally forecasted.Dundee highlighted the company’s “solid balance sheet”, even with net debt of $829 million at the end of the fourth quarter, which Charles said has already come down by $119 million, now sitting at $710 million. Canada Goose Parka

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