Business
BQE Water Reports Q2 2019 Results
(via TheNewswire) VANCOUVER, BC - TheNewswire - August 13, 2019 BQE Water...
About this update from Bqe Water Inc
[{"type":"text","content":"BQE Water Reports Q2 2019 Results(via TheNewswire)\n \n \nVANCOUVER, BC - TheNewswire - August 13, 2019 BQE Water Inc. (TSXV:BQE), a leader in the management of mine wastewaters and metallurgical bleed streams, is pleased to release its interim consolidated financial results for the three and six months ended June 30, 2019.\n\n\n \nQ2 2019 FINANCIAL HIGHLIGHTS\n\n\n \n- Net earnings per share of $0.29 compared to $0.06 in Q2 2018;\n\n\n \n- Adjusted EBITDA of $756,000 compared to $427,000 in the second quarter of 2018, a significant 77% increase;\n\n\n \n- Net income as reported under GAAP was $345,000 compared to $61,000 in Q2 2018;\n\n\n \n- Proportional Revenues of $3.1 million compared to $2.8 million in Q2 2018;\n\n\n \n- Proportional Cash, which includes our share held in joint ventures, as of June 30, 2019 was $2.8 million compared to $2.5 million at June 30, 2018, and to $3.2 million at the end of 2018; and\n\n\n \n- First ever net earnings recorded during the first six months of a calendar year, extending the period of positive net earnings from 2018.\n\n \n \nQ2 2019 OPERATIONAL SERVICES HIGHLIGHTS\n\n\n \nOur operational services are the operation of water treatment plants, which generates recurring revenues for the Company from two main sources: from the sales of recovered metals and from water treatment fees.\n\n \n \nRevenues from Sales of Recovered Metals\n\n\n \nThe Company operates four water treatment plants that generate revenues from the sale of recovered metals, three plants operating under the JCC-BQE Joint Venture and one plant operating under the MWT-BQE Joint Venture. \n\n \n \nJCC-BQE Joint Venture (\"JCC-BQE\")\n\n\n \nOur joint venture with partner Jiangxi Copper Company (\"JCC\") operates three water treatment plants at the Dexing and Yinshan Mines in Jiangxi province of China. The volume of water treated and pounds of copper recovered by the plants fluctuate seasonally depending on precipitation levels in the region. The operating results for JCC-BQE for the three and six months ended June 30, 2019 are as follows:\n\n \n\n(in '000s)\n\n\n\n\n3 months ended Jun. 30\n\n\n\n\n6 months ended Jun. 30\n\n\n \n\n\n2019\n\n\n\n\n2018\n\n\n\n\n2019\n\n\n\n\n2018\n\n\n\n\nWater treated (cubic metres)\n\n\n\n\n6,805\n\n\n\n\n7,682\n\n\n\n\n12,614\n\n\n\n\n11,226\n\n\n\n\nCopper produced (pounds)\n\n\n\n\n1,189...