Business
Almonty announces the filing of its financial statements and MD&A for the three and six months ended March 31, 2013
/ 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\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE\n UNITED STATES/ \n\n\nRevenue of $5.005 million and EBITDA1 of $1.819 million for the second quarter of fiscal 2013 \n\n\nTORONTO, May 15, 2013 /CNW/ - Almonty Industries Inc. (\"Almonty\" or the \"Company\") (TSX-V: 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, 2013.  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 $5,005, gross profit of $2,565 representing\n a gross profit margin of 51.2%, EBITDA1 of $1,819 and net income of $201 for the three month period ended March\n 31, 2013.\n\n\nAlmonty mined 159,886 tonnes of ore at a weighted average grade of 0.29%\n WO3 for the three month period ended March 31, 2013.\n\n\nTungsten concentrate recovery for the three month period ended March 31,\n 2013 averaged 63.8%, (represented by average tungsten recovery rates of\n 64.7%, 64.8% and 61.5% for the months of January, February and March\n 2013, respectively).  The slight and temporary decrease in the tungsten\n recovery rate during the month of March was a direct result of the\n Company's opening of a new pit.\n\n\nThe Company shipped 18,556 MTU of high grade concentrate (65.0% or\n higher WO3) and 1,840 MTU of low grade concentrate (between 45.0% and 65.0% WO3) during the three months ended March 31, 2013.\n\n\nProduction levels for the three months ended March 31, 2013 totalled\n 19,129 MTU of WO3 concentrate, an increase of 25.0% over the three months ended March 31,\n 2012.  Cash operating costs for the three months ended March 31, 2013\n were US$145/MTU, a decrease of 24.1% over the three months ended March\n 31, 2012 and a decrease of 20.8% when compared to the year ended\n September 30, 2012.  Expressed in Euros (to remove the effect of\n varying foreign currency exchange rate movement as the Company incurs\n 100% of its production costs in Spain) costs declined to €110/MTU, a\n decrease of 25.2% over the three months ended March 31, 2012 and a\n decrease of 3.5% when compared to the average costs for the three\n months ended December 31, 2012.\n\n\nSummary op...