Hot! Terra Nova Royalty Corporation Reports First Quarter Results For 2011

Terra Nova Royalty Corporation (" Terra Nova ") (NYSE: T) today released effects for your 3 months concluded March 31, 2011. All figures have been in US dollars.

RESULTS

Revenues to get our commodities and also resources businesswere $113.3 million with the 11 weeks was concluded March 31, 2011, when compared to $3.8 million for exactly the same time period within 2010, largely because of this in the introduction from the incorporated commodities treatments of Mass Financial Corp. ("Mass"), which usually we all acquired within the last 1 / 4 regarding 2010.

Included in the commodities and options business is the revenues produced through the Wabush royalty, which increased for you to around $5.5 thousand with the 3 months concluded March 31, 2011, from just about $3.8 zillion within the same period of time with 2010. This increase in grand earnings appeared to be mostly attributable into a higher grand rate. A overall involving 719,350 numerous iron ore pellets were transported from Pointe Noire, Quebec in the course of your ninety days concluded March 31, 2011.

Revenues with regard to our business deposit businesswere $16.9 million with the 3 months ended March 31, 2011, in comparison to $nil with the similar period in 2010, primarily to be a effect in the inclusion of Mass while in the current quarter.

Other revenues, which will involve each of our management and business along with investments, were $3.7 trillion for that three many months concluded March 31, 2011, when compared with $0.2 million pertaining to the identical period of time around 2010, mainly due to this fact belonging to the inclusion regarding Mass with the current quarter.

Costs connected with salesincreased for you to $106.4 zillion through the with three months broken March 31, 2011 through $2.7 million for similar period of time throughout 2010, mainly as being a effect belonging to the relief of Mass's operations. Selling, common plus administrative expenses, removing from the total a share-based compensation expense, amplified to help $11.4 million for your 3 months broken March 31, 2011 from $2.6 million for any similar time period regarding 2010. The improve will be primarily related to that addition of Mass's experditions while in the current quarter.

In the particular 90 days was concluded March 31, 2011, we noted non-cash share-based compensation charge of $7.3 zillion in relationship with alternatives awarded beneath our motivator plans.

Our total revenues by managing portion plus earnings out of continuing experditions were when is a follower of to get every single groups was concluded March 31, 2011 and also 2010.

SHARE- BASED COMPENSATION

With the particular acquisition of Mass within the last quarter connected with the year 2010 all of us imagine it sensible to acquire a new commodity choice strategy to the combined company. As such through the three months finished March 31, 2011 most of us released investment from a strong exercise tariff of $7.81 every share. We incurred a non-cash discretionary share-based compensation purchase with $7.3 million. All with the solutions of course were expensed while in the latest quarter to help get rid of the longer term expense recognition.

LIQUIDITY

We keep track of money about the groundwork of your debt-to-adjusted cash relation along with long-term debt-to-equity ratio. The debt-to-adjusted money proportion is usually determined seeing that net personal debt separated by simply altered capital. Net debt can be calculated because overall personal debt a reduced amount of funds and dollars equivalents. The long-term debt-to-equity ratio is definitely determined as long-term credit debt divided by means of shareholders' equity.

The debt-to-adjusted budget relation because during March 31, 2011 along with December 31, 2010 were certainly not applicable because most people had a net cash as well as cash equivalents balance.

We had a net dollars and income comparative sense of balance after deduction of some of our complete debt. Our long-term debt-to-equity relation ended up being 0.05 along with 0.09 seeing that with March 31, 2011 and December 31, 2010, respectively.

We maintain types of lines of credit and also facilities with banks. Most of these services tend to be short-term. These conveniences widely-used pertaining to day-to-day business, trade capital and also things to do with commodities, along with structured trade finance.