Q3 2021....BOOM. The West and AMI have woken up Athabasca Minerals Announces Q3-2021 Financial Results, Grant of Options, and Investor Update
Calgary, Alberta--(Newsfile Corp. - November 29, 2021) - Athabasca Minerals Inc. (TSXV: AMI) ("AMI" or the "Corporation") - announces its Q3 Financial Statements for third-quarter ending September 30, 2021. The Q3-2021 Financial Statements and Management's Discussion and Analysis ("MD&A") are available on SEDAR at www.sedar.com and on the company website at www.athabascaminerals.com. AMI will also hold an Investor Update on Thursday, December 02, 2021 at 9:30am (MT) where management will discuss the Q3 results as well as operational plans for the remainder of 2021.
In Q3-2021, Athabasca reported consolidated revenue of $4.3 million (versus $0.4 million in Q3-2020) and $8.8 million for 9-months ending Sept-30th, 2021 (versus $1.5 million, 9-months ending 2020), with contributions from all four divisions - i.e. AMI Aggregates, AMI RockChain, AMI Silica, and TerraShift Engineering.
Robert Beekhuizen, Chief Executive Officer, states: "We are pleased with the Corporation's turnaround in performance in 2021. We continue to grow cash-flow across all our divisions, noting that AMI's 9-month revenues in 2021 exceed the Corporation's annual revenues for each of the past 5 years. Our business re-positioning and divisional restructuring is working. We're excited about maintaining this positive trajectory and bringing further value to the shareholders of Athabasca Minerals in 2022."
BUSINESS HIGHLIGHTS
Athabasca Minerals reports the following key highlights in Q3-2021:
- Consolidated revenue for Q3-2021 was $4.3 million, and $8.8 million for 9 months ending Sep-30, 2021. Year-to-date revenue (as of date of filing) has exceeded $10.0 million.
- AMI Silica's divisional revenue for Q3-2021 was $2.2 million, and $2.7 million for 9 months ending Sep-30, 2021. AMI Silica's joint venture company with a confidential (50/50) partner and its operations service agreement with an industry client (effective June-1st, 2021) continued throughout Q3, and remains active as of the date of filing.
- AMI RockChain divisional revenue for Q3-2021 was $1.7 million, and $4.5 million for 9 months ending Sep-30, 2021. AMI RockChain also announced the appointment of Paul Leveille in the role of Chief Technology Officer ("CTO").
- AMI Aggregates divisional revenue for Q3-2021 was $0.2 million, and $1.2 million for 9 months ending Sep-30, 2021. Coffey Lake and Kearl Lake were both active in Q3.
- TerraShift Engineering divisional revenue for Q3-2021 was $0.4 million, and $0.9 million for 9 months ending Sep-30, 2021.
- The Corporation increased its unrestricted cash position by $1.0 million utilizing the Account Performance Security Guarantee program from Export Development Canada. This resulted in guaranteed investment certificates replacing previous Letters of Credit (restricted cash) for Government of Alberta future reclamation liabilities.
SELECTED FINANCIAL INFORMATION
Selected Financial Information
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STOCK OPTION GRANT
AMI announces that its Board of Directors have approved the grant of 861,000 stock options ("Options") to officers and directors of the Corporation pursuant to the Corporation's Stock Options Plan. The Options have an exercise price of $0.20 per share with a five-year term.
INVESTOR UPDATE WEBCAST
Athabasca will host a webcast for investors, analysts and stakeholders to provide an update on the existing operating environment. Registration is required so please pre-register to receive your password.