Canada's Falcon bridge Ltd has reported second quarter 2006 net income of 728 million dollars. This compares with second quarter 2005 net income of 202 million dollars. "We are extremely pleased with the outstanding financial results we are reporting this quarter", said Derek Pannell, ceo of Falconbridge. "Our operations have stayed focused on producing metal, giving impressive results quarter after quarter. This strong performance continues to reflect both the ability of our operations to capitalize on high metals prices and to generate very substantial levels of cash. In the first half of the year, income from operating assets almost reached 2 billion dollars, demonstrating Falconbridge's true earnings potential." The Falconbridge board of directors is reviewing the terms of the offers from Inco and Xstrata and will provide Falconbridge shareholders with a recommendation shortly.
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