Lumina Copper Corp.
TSX VENTURE : LCC

Lumina Copper Corp.

December 09, 2011 20:23 ET

Lumina Copper Announces Filing of Amended and Restated Financial Statements and Management's Discussion and Analysis ("MD&A")

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 9, 2011) - Lumina Copper Corp. ("Lumina Copper") (TSX VENTURE:LCC) announces that it has today filed amended and restated unaudited interim consolidated financial statements and related MD&A for the period ended June 30, 2011.

During the preparation of Lumina Copper's consolidated financial statements for the year ended September 30, 2011, it was determined that income taxes relating to the spin-out of Lumina Royalty Corp. which were expensed through the consolidated statement of income, should have been recorded as a capital item through contributed surplus. As a result, Lumina Copper's net income for the three and nine months ended June 30, 2011 has increased by $2 million while contributed surplus decreased by the same amount. The income tax liability estimate was unchanged.

Accordingly, the unaudited interim consolidated financial statements for the period ended June 30, 2011 have been revised as set out below:

As previously reported Adjustment Restated
Consolidated Balance Sheet as at June 30, 2011 (unaudited):
Contributed surplus $ 12,636,831 $ (2,000,000 ) $ 10,636,831
Deficit accumulated during the development stage
$

(2,306,209
)
$

2,000,000

$

(306,209
)
Consolidated Statements of Income, Comprehensive Income and Deficit for the three months ended June 30, 2011 (unaudited):
Income taxes $ 2,000,000 $ (2,000,000 ) $ -
Net Income and Comprehensive Income for the Period
137,212

2,000,000

2,137,212
Earnings per share (basic and diluted) $ 0.005 $ 0.05 $ 0.055
Consolidated Statements of Income, Comprehensive Income and Deficit for the nine months ended June 30, 2011 (unaudited):
Income taxes $ 2,000,000 $ (2,000,000 ) $ -
Net Income and Comprehensive Income for the Period
1,156,957

2,000,000

3,156,957
Earnings per share (basic and diluted) $ 0.03 $ 0.055 $ 0.085

The amended unaudited interim consolidated financial statements and related MD&A are available on Lumina Copper's SEDAR profile at www.sedar.com.

LUMINA COPPER CORP.

David Strang, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information