Business
Almonty Achieves Positive EBITDA from Mining Operations of $7,318,000 and Net Income of $0.02 Per Share in Q2 of FY 2019
TORONTO--(BUSINESS WIRE)--Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) today announced the filing of its unau
About this update from Almonty Industries Inc.
[{"type":"text","content":"TORONTO--(BUSINESS WIRE)--Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) today announced the filing of its unaudited interim condensed consolidated financial statements and management’s discussion & analysis for the three and six months ended March 31, 2019. Unless otherwise indicated, all currency amounts contained in this news release are expressed in Canadian dollars. The following financial information is for the three and six months ended March 31, 2019 and 2018: Three Months Three Months Six Months Six Months Ended Ended Ended Ended 31-Mar-19 31-Mar-18 31-Mar-19 31-Mar-18 $'000 $'000 $'000 $'000 Gross Revenue 13,051 17,302 29,463 28,069 Mine production costs 5,733 9,698 14,578 17,512 Reversal of impairment loss - - (4,150) - Depreciation and amortization 1,630 2,073 3,104 4,345 Earnings from mining operations 5,688 5,531 15,931 6,212 General and administrative costs 1,620 1,786 3,454 3,768 Non-cash compensation costs - - - - Earnings before the under noted items 4,068 3,745 12,477 2,444 Interest expense 654 615 1,302 1,232 (Gain) Loss on debt settlement - - (1,015) - Foreign exchange (gain) loss (718) 82 693 315 Tax provision 168 (711) 276 (711) Net income for the period 3,964 3,759 11,221 1,608 Income per share - basic $0.02 $0.02 $0.06 $0.01 Income per share - diluted $0.02 $0.02 $0.06 $0.01 Dividends - - - - Cash flows provided by (used in) operating activities 3,890 2,770 5,520 677 Cash flows provided by (used in) investing activities (1,729) (2,077) (3,316) (3,434) Cash flows provided by (u...