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Arianne Phosphate Reports Corporate and Financial Results for Third Quarter 2018
Arianne Phosphate Reports Corporate and Financial Results for Third Quarter 2018 C...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n\n\n\nArianne Phosphate Reports Corporate and Financial Results for Third Quarter 2018\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSAGUENAY, QC, Nov. 14 2018\n\n\n\nDAN: TSX-V (Canada)JE9N: FSE (Germany)DRRSF: OTC (USA)\n SAGUENAY, QC, Nov. 14 2018 /CNW Telbec/ - Arianne Phosphate (the \"Company\" or \"Arianne\") (TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region, reported its financial results for the three-month and nine-month period ended September 30, 2018. All amounts are in Canadian dollars unless noted.\n\n \n \n\n \n \"Arianne had a strong and productive quarter,\" said Brian Ostroff, CEO of Arianne Phosphate. \"Over the most recent quarter, we have made progress on several initiatives that we believe are key to getting our project financed.  The signing of our first commercial offtake, the advancement of our exploratory work surrounding a potential phosphoric acid plant and, most recently, the Port of Saguenay's receipt of its permit to allow for a maritime facility on the north shore have all signaled that things are moving in the right direction for Arianne.  In the coming months we hope to continue to hit the milestones necessary to begin the development of our Lac à Paul deposit and unlock its value for investors and stakeholders.\"\nQ3 2018 Financial and Operational Highlights\nIn September 2018, the Company announced the formal execution of its first offtake agreement. Under the terms of the Agreement, the buyer has entered into a long-term contract to purchase Arianne's high-purity phosphate concentrate which, will be shipped to the buyer's processing plant for further processing into downstream phosphate products. The offtake agreement also has a mechanism whereby it can be extended beyond the initial contract period and applies pricing that accounts for the high quality of Arianne's concentrate. In August 2018, the Company announced the appointment ...