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On the Line: Lundin Mining CEO Karl-Axel Waplan

Monday, 19 Nov 2007 | 11:09 AM ET
Lundin Mining CEO
On the line with Karl-Axel Waplan, Lundin Mining president & CEO, and Mad Money host Jim Cramer.

Cramer has been on the money with his calls on the miners – BHP Billiton , C.V.R.D. , Freeport-McMoRan – except for one: Lundin Mining.

The Canadian-based mining company reported another earnings miss this week, sending the stock down sharply. But before giving up entirely on LMC , Cramer spoke with its CEO, Karl-Axel Waplan.

Waplan expressed confidence in Lundin’s long-term growth, adding that the demand for mining capacity is increasing worldwide and Lundin is taking on that demand. The company’s profits are consistent with its production levels, the CEO said, and will grow as new production comes online. (The company currently operates five mines, and a sixth in Portugal is in the works.)

Lundin hasn’t been an easy call, Cramer said, but it isn’t a lost cause just yet. He recommended waiting for it to report another quarter before making a decision to sell.

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