Business
Almonty Announces $1.4 Million Income from Mining Operations for the Los Santos Mine for the 3 Months Ended June 30, 2011 and the Filing of Los Santos Finanicial Statements and MD&A for the 3 and 9 Months Ended June 30, 2011
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About this update from Almonty Industries Inc.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE\n UNITED STATES/\n\n\nTORONTO, Oct. 3, 2011 /CNW/ - Almonty Industries Inc. (\"Almonty\") (TSXV:\n AII) announces the filing of the third quarter financial results for\n the Los Santos Mine, the tungsten project that is wholly-owned by\n Almonty's subsidiary, Daytal Resources Spain, S.L., for the period\n ended June 30, 2011.  The results reflect the operations of the Los\n Santos Mine prior to Almonty acquiring control of the mine on September\n 23, 2011 and includes the separate position and results for the now\n terminated tungsten off-take agreement with Global Tungsten Powders\n Corp.  In connection with Almonty acquiring control of the mine it has\n entered into a new multi-year off-take agreement (see press release\n dated September 28, 2011).\n\n\nSummary Financial Information1:\n\n\n\n\n\n \n\n\nThree Months Ended June 30,\n\n\n \n\n\nNine Months Ended June 30,\n\n\n \n\n\n \n\n\n2011\n\n\n2010\n\n\n \n\n\n \n\n\n2011\n\n\n2010\n\n\n \n\n\n \n\n\nCAD$ 000\n\n\nCAD$ 000\n\n\n \n\n\n \n\n\nCAD$ 000\n\n\nCAD$ 000\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nRevenue\n\n\n \n\n\n$4,421\n\n\n$0\n\n\n \n\n\n \n\n\n$10,186\n\n\n$0\n\n\nCost of Sales\n\n\n \n\n\n3,006\n\n\n407\n\n\n \n\n\n \n\n\n8,412\n\n\n1,147\n\n\nIncome From Mining Operations\n\n\n \n\n\n$1,416\n\n\n($407)\n\n\n \n\n\n \n\n\n$1,774\n\n\n($1,147)\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nDepreciation and Amortization\n\n\n \n\n\n931\n\n\n14\n\n\n \n\n\n \n\n\n5,794\n\n\n67\n\n\nInterest\n\n\n \n\n\n42\n\n\n387\n\n\n \n\n\n \n\n\n441\n\n\n491\n\n\nOther SGA\n\n\n \n\n\n(247)\n\n\n(847)\n\n\n \n\n\n \n\n\n(1,074)\n\n\n(2,543)\n\n\nNet Income Before Tax and One Time Items\n\n\n \n\n\n$690\n\n\n$39\n\n\n \n\n\n \n\n\n($3,387)\n\n\n$837\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n2011\n\n\n2010\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n3 month average FX EUR=CAD per Bank of Canada\n\n\n1.3934\n\n\n1.3073\n\n\n \...