That compares to a loss of just over $1m in the three months ended 31 December 2008.
The Vancouver, British Columbia,-based company’s results were hurt by a net loss through Magma’s share of HS Orka, the Icelandic geothermal concern in which it now has a 41% ownership stake. According to a Magma statement, the HS Orka loss – $1.93m – was due to a decline in aluminium prices, to which HS Orka sales contracts are indexed.
