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Imperial Metals Reports 2021 Financial Results
VANCOUVER, Bir, March 16, 2022 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports financial results for its fiscal year ended Dec
About this update from Imperial Metals Corporation
[{"type":"text","content":" VANCOUVER, Bir, March 16, 2022 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports financial results for its fiscal year ended December 31, 2021. Select Annual Financial Information Years Ended December 31 expressed in thousands, except share and per share amounts 2021 2020 2019(3) Operations: Total revenues $133,591 $148,097 $71,823 Net loss $(26,070 ) $(4,892 ) $(41,224 ) Net loss per share $(0.19 ) $(0.04 ) $(0.32 ) Diluted loss per share $(0.19 ) $(0.04 ) $(0.32 ) Adjusted net loss (1) $(23,181 ) $(5,421 ) $(50,310 ) Adjusted net loss per share (1) $(0.17 ) $(0.04 ) $(0.40 ) Adjusted EBITDA(1) $11,553 $36,034 $(4,261 ) Cash earnings (1)(2) $11,034 $36,909 $(3,611 ) Cash earnings per share (1)(2) $0.08 $0.29 $(0.03 ) Working capital (deficiency) $(19,060 ) $9,292 $53,661 Total assets $1,186,341 $1,091,321 $1,103,488 Total debt (including current portion) $34,975 $2,422 $3,816 (1) Refer to table in section Non-IFRS Financial Measures of the December 31, 2021 Management’s Discussion & Analysis for further details. (2) Cash earnings is defined as the cash flow from operations before the net change in non-cash working capital balances, income and mining taxes, and interest paid. Cash earnings per share is defined as cash earnings divided by the weighted average number of common shares outstanding during the year. (3) Year ended 2019 has been restated to incorporate the finalization of fair values relating to the sale of Red Chris in August 2019. Select Items Affecting Net Loss (presented on an after-tax basis) Years Ended December 31 expressed in thousands 2021 2020 Net loss before undernoted items $(24,337 ) $(3,559 ) Interest expense (1,497 ) (1,358 ) Foreign exchange gain (loss) on debt (236 ) 25 Net Loss $(26,070 ) $(4,892 ) Revenue from the Red Chris mine in 2021 was $132.6 million compared to $146.3 million in 2020. In 2021, the Red Chris mine (100% basis) had 14.5 concentrate shipments (2020-18.3 concentrate shipments). Vari...