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Almonty Announces the Filing of Its Audited Annual Consolidated Financial Statements, MD&A and AIF for the Year Ended December 31, 2020
TORONTO / May 14, 2021 / Business Wire / Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) today announced the fil
About this update from Almonty Industries Inc.
[{"type":"text","content":"TORONTO / May 14, 2021 / Business Wire / Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) today announced the filing of its audited annual consolidated financial statements, management’s discussion & analysis (“MD&A”) and Annual Information Form (“AIF”) for the year ended December 31, 2020. Unless otherwise indicated, all currency amounts contained in this news release are expressed in Canadian dollars. During the fifteen months ended December 31, 2019, the Company, pursuant to Section 4.8(2) of National Instrument 51-102, provided notice that it changed its financial year end from September 30 to December 31 and, accordingly, the financial information presented below is as at and for the twelve months ended December 31, 2020 with comparatives as at and for the fifteen months ended December 31, 2019. The following financial information is for the twelve months ended December 31, 2020 and the fifteen months ended December 31, 2019: Twleve monthsended Fifteen monthsended 31-Dec-20 31-Dec-19 $'000 $'000 Gross Revenue 25,095 54,634 Mine production costs 23,394 38,194 Impairment - 10,112 Care and maintenance 997 - Depreciation and amortization 2,075 4,487 Earnings from mining operations (1,371) 1,841 General and administrative costs 6,964 10,124 Non-cash compensation costs 612 68 Loss before the under noted items (8,947) (8,351) Interest expense 3,139 3,049 Financing fees 697 - (Gain) Loss on debt settlement (1,777) (401) Gain on deconsolidation - (4,150) Foreign exchange (gain) loss (863) (1,785) Tax provision (1,086) 169 Net income (loss) for the period (9,057) (5,233) Income (loss) per share - basic ($0.05) ($0.03) Income (loss) per share - diluted ($0.05) ($0.03) Dividends - - Cash flows provided by (used in) operating activities (4,831) 4,210 Cash flows provided by (used in) inves...