Business
Almonty announces the filing of its financial statements and MD&A for the three months ended December 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\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE\n UNITED STATES/ \n\n\nRevenue of $5.032 million and EBITDA1 of $1.645 million for the first quarter of fiscal 2013 and tungsten\n recovery rate of 64.8% achieved for the month of December\n\n\nTORONTO, Feb. 14, 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 months ended December 31, 2012.  Unless otherwise\n indicated, all currency amounts contained in this news release are in\n thousands of Canadian dollars.\n\n\nAlmonty reported revenue of $5,032, gross profit of $2,512 representing\n a gross profit margin of 49.9%, EBITDA1 of $1,645 and net income of $229 for the three month period ended\n December 31, 2012.\n\n\nAlmonty mined 127,928 tonnes of ore at a weighted average grade of 0.37%\n WO3 for the three month period ended December 31, 2012.  The overall\n increase in head grade mined is a result of planned pit optimization\n that the Company is continuing to undertake following the completion of\n an updated National Instrument 43-101 - Standards of Disclosure for Mineral Projects technical report dated September 30, 2012.  The Company believes that\n it will be able to continue to further enhance its ability to access\n higher grade material in future periods as the pit optimization\n continues.\n\n\nTungsten concentrate recovery for the three month period ended December\n 31, 2012 averaged 63.3%, a 5.3% increase over the previous quarter's\n recovery rate of 60.0% and culminating in a recovery rate of 64.8% for\n the month of December 2012, in-line with Almonty's forecasted 65%\n recovery rate by calendar year end 2012.\n\n\nThe Company shipped 17,360 MTU of high grade concentrate (65.0% or\n higher WO3) and 1,900 MTU of low grade concentrate (between 45.0% and 65.0% WO3) during the three months ended December 31, 2012.\n\n\nProduction levels for the three months ended December 31, 2012 totalled\n 19,359 MTU of WO3 concentrate, an increase of 10.5% over the three months ended September\n 30, 2012.  Cash operating costs for the three months ended December 31,\n 2012 were US$146 /MTU, a decrease of 8.2% over the three months ended\...