Almonty Industries Inc T.AII

2020 Financials delayed due to Covid in Portugal

[Anubis01]

Almonty Industries Announces Expected Delay in Filing 2020 Financial Results Due to Unprecedented COVID-19 Disruption in Portugal Almonty Industries Inc. (Almonty or the Company) (TSX: AII / OTCQX: ALMTF / Frankfurt: ALI.F)announces that it expects a delay of approximately 14 days in filing its audited annual financial statements, managements discussion and analysis and related officer certifications for the year ended December 31, 2020 (collectively, the "Annual Financial Filings") which are required to be filed on March 31, 2021 (the Filing Deadline). The expected delay is due to complications caused by the devastating wave of COVID-19 experienced in Portugal over recent months as a result of which the component auditors in Portugal were unable to access the site at the Companys Pansqueira mine to conduct the normal audit and all reviews have had to be done remotely. During this time, Portugal recorded the highest incident rate per 100,000 of COVID-19 in the world. The state of emergency is still in effect in Portugal currently. Due to this delay, it is expected that the Company will be unable to complete all of the procedures necessary for the Companys auditors, Davidson & Company LLP, to be able to render an audit opinion by the Filing Deadline. The Company has applied to the applicable Canadian securities regulators for the issuance of a management cease trade order which would restrict trading in securities of the Company by the Corporations Chief Executive Officer and Chief Financial Officer. The Company has imposed an insider trading blackout pending filing of the Annual Financial Filings. During the MCTO, the Company confirms that it will comply with the provisions of the alternative information guidelines set out in National Policy 12-203 respecting Management Cease Trade Orders for as long as it remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a news release. Further, if the Company provides any information to any of its creditors during the period in which it is in default of filing the Annual Financial Filings, the Company confirms that it will also file material change reports on SEDAR containing such information. The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed

[lonade]

at least now the most probable reason for the delay in the listing on the ASX, since I would consider the latest financials key to allow for listing. as there was no news on major disruptions on the production (would be material news hence NR-rd), it did not have any fundamental impacts on the company. so no major concern for the long term plans of Almonty...happening to many companies at the

[whoisyourpapa]

Probably safe to put this on "snooze" until week of April 12th. . .   whois

[GastownGuy]

lol. snooze another 2 weeks. why not? many of us here have been waiting 10 years +++ for the korean mine to be built. still hasn't started. 2 week snooze for financials, no big deal. this almonty group have almost never got them out on time anyway. covid or no covid

[5ilverlining808]

Quick......everone jump into your "cryo-chambers" (again), and set for late April 2021 wake-up. lol. Agreed, "no big deal", and you must also agree that Almonty has "still made no mistakes" to this date regardless of late financials reports in the past. They all came through in the end in accordance with the rules. I dont even read or pay attention to these things

[Auscri]

Back to snoozing until April 23rd... On the bright side, Moly drilling should start today?

[whoisyourpapa]

LOL might as well laugh since crying wouldn't do any good. Frustrating as heck though. . .  whois