Business
Almonty announces results for the three and six month periods ended March 31, 2012
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ...
About this update from Almonty Industries Inc.
[{"type":"text","content":"\n\n\n\n\n\nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE\n UNITED STATES \n\n\nRevenue of $4.96 million and EBITDA of $1.54 million for the second\n quarter\n\n\nTORONTO, April 30, 2012 /CNW/ - Almonty Industries Inc. (\"Almonty\" or the \"Company\") (TSXV: AII) today announced the filing of its unaudited consolidated\n interim financial statements and management discussion & analysis (\"MD&A\") for the three and six month periods ended March 31, 2012.  Unless\n otherwise indicated, all currency amounts contained in this news\n release are in thousands of Canadian dollars.\n\n\nAlmonty reported revenue of $4,964, gross profit of $2,352 representing\n a gross profit margin of 47.4%, EBITDA1 of $1,539 and net income of $380 for the three month period ended March\n 31, 2012.  For the six month period ended March 31, 2012 revenue\n totalled $11,449, gross profit was $5,422 representing a gross profit\n margin of 47.4%, EBITDA of $3,905 and net income of $1,126.\n\n\nAlmonty mined 98,525 tonnes of ore at a weighted average grade of 0.21%\n WO3 for the three month period ended March 31, 2012 (234,082 tonnes of ore\n at a weighted average grade of 0.26% WO3 for the six month period ended March 31, 2012).  The overall reduction\n in head grade mined is a result of planned pit optimization that the\n Company is undertaking to further enhance its ability to access higher\n grade material in future periods.\n\n\nThe Company processed 117,849 tonnes of ore during the three month\n period ended March 31, 2012, a 3.9% decrease over the previous quarter,\n at a weighted average grade of 0.23% WO3 for a total contained MTU WO3 processed of 27,105.  The decrease in ore processed resulted from\n severe inclement weather during the month of February where record low\n temperatures (temperatures well below the operating specifications of\n the plant) over a period of 10 consecutive days prevented the Company\n from processing ore at normal throughput levels.\n\n\nTungsten concentrate recovery for the period averaged 57.1%, a marginal\n increase over the previous quarter recovery rate of 56.2%.  The Company\n believes that it has fully optimized the existing processing equipment\n and subsequent to March 31, 2012 has installed a hydrosizer to its\n processing circuit.  This is the first...