Investor Conference Call Wednesday February
10, 2016 at 9:00 am EST
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED STATES
Almonty Industries Inc. (“Almonty” or the
“Company”) (TSX-V: AII) today announced the filing of its
audited consolidated financial statements and management discussion
& analysis (“MD&A”) for the year ended September 30,
2015. Unless otherwise indicated, all currency amounts contained in
this news release are in thousands of Canadian dollars.
The following financial information is for the three months and
years ended September 30, 2015, and 2014:
Three Months Three Months Ended
Ended 30-Sep-15 30-Sep-14 $'000
$'000 Gross Revenue 8,415 8,451 Mine
production costs 17,481 2,939 Mine impairment 1,708 - Depreciation
and amortization 2,412 370
Earnings (loss) from mining operations (13,186 ) 5,142
General and administrative costs 1,732 1,442 Other (gain)
loss realized (fx, asset disposal, other) 146 378 Non-cash
compensation costs - -
Earnings (loss) before the under noted items (15,064
) 3,322 Interest expense 561 139 Foreign exchange loss 1,017
55 Non-controlling interest (774 ) - Deferred tax provision
(556 ) (502 )
Net income
(loss) for the period (15,312 )
3,630 Income (loss) per share basic
($0.26 ) $0.10 Income
(loss) per share diluted ($0.26 )
$0.10 Dividends -
(1,001 ) Cash flows provided by (used
in) operating activities 2,088 3,315 Cash flows provided by (used
in) investing activities (4,671 ) (1,154 ) Cash flows provided by
(used in) financing activities (800 )
8,495 Year Year Ended Ended
30-Sep-15 30-Sep-14 $'000
$'000 Gross Revenue 36,142 29,609 Mine
production costs 37,743 10,287 Mine Impairment 1,708 - Depreciation
and amortization 8,545 4,610
Earnings from mining operations (11,854 ) 14,712
General and administrative costs 5,562 3,213 Other (gain) loss
realized (fx, asset disposal, other) 398 919 Non-cash compensation
costs 379 56
Earnings (loss) before the under noted items (18,193 )
10,524 Interest expense 1,404 443 Foreign exchange loss
1,313 188 Gain from Insurance settlement - - Non-controlling
interest (747 ) - Deferred tax provision (618
) (502 )
Net income (loss) for the
period (19,545 ) 10,395
Income (loss) per share basic
($0.38 ) $0.28 Income (loss) per share
diluted ($0.38 ) $0.28
Dividends - (1,001
) Cash flows provided by (used in) operating
activities 798 8,592 Cash flows provided by (used in) investing
activities (16,116 ) (7,252 ) Cash flows provided by (used in)
financing activities 727
12,355
30-Sep-15
30-Sep-14
$'000 $'000 Cash
866 14,847 Restricted cash 1,223 956 Total assets 117,527 86,547
Bank indebtedness 1,794 1,041 Long-term debt 33,321 20,296 Capital
lease obligations 1,133 295 Convertible debentures 9,981 5,833
Shareholders’ equity 49,002 47,055
Other
Outstanding shares (‘000) 86,482 49,621 Weighted average
outstanding shares (‘000) Basic 51,787 43,149 Fully diluted
(treasury method) 51,787 43,149 Closing share price
$0.68
$0.70
A teleconference to review the fourth quarter and year ended
September 30, 2014 will be held at 9:00 a.m. ET on Thursday,
February 10, 2016. Representing management will be Lewis Black,
chairman, president & chief executive officer, and Dennis
Logan, chief financial officer. A question and answer period will
follow brief remarks from management.
To participate in the teleconference:
- if calling from North America: +1- 877
201-0168
- if calling from outside North America:
+1- 647 788-4901
An archive of the conference call will be available until March
10st, 2016.
To access the archive:
- from North America: +1 855 859-2056
(pass code: 42090361 #)
- from outside North America: +1 404
537-3406 (pass code: 42090361 #)
About Almonty
The principal business of Toronto, Canada-based Almonty
Industries Inc. is the mining, processing and shipping of tungsten
concentrate from its Los Santos Mine in western Spain, its Wolfram
Camp Mine in north Queensland, Australia and its Panasqueira mine
in Portugal as well as the development of the Sangdong tungsten
mine in Gangwon Province, Korea and the Valtreixal tin/tungsten
project in north western Spain. The Los Santos Mine was acquired by
Almonty in September 2011 and is located approximately 50
kilometres from Salamanca in western Spain and produces tungsten
concentrate. The Wolfram Camp Mine was acquired by Almonty in
September 2014 and is located approximately 130 kilometres west of
Cairns in northern Queensland, Australia and produces tungsten and
molybdenum concentrate. The Panasqueira mine, which has been in
production since 1896, is located approximately 260 kilometres
northeast of Lisbon, Portugal, was acquired in January 2016 and
produces tungsten concentrate. The Sangdong mine, which was
historically one of the largest tungsten mines in the world and one
of the few long-life, high-grade tungsten deposits outside of
China, was acquired in September 2015 through the acquisition of a
100% interest in Woulfe Mining Corp. Almonty also has an option to
acquire a 100% ownership interest in the Valtreixal tin-tungsten
project in northwestern Spain. Further information about Almonty’s
activities may be found at www.almonty.com and under Almonty’s
profile at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Disclaimer for Forward-Looking Information
When used in this press release, the words “estimate”,
“project”, “belief”, “anticipate”, “intend”, “expect”, “plan”,
“predict”, “may” or “should” and the negative of these words or
such variations thereon or comparable terminology are intended to
identify forward-looking statements and information. This press
release contains forward-looking statements and information
including, without limitation, the intention of the Company to host
a conference call on February 10, 2016 to discuss the Q4 2015
financial results. These statements and information are based on
management’s beliefs, estimates and opinions on the date that
statements are made and reflect Almonty’s current expectations.
The forward-looking statements and information in this press
release include information relating to the intentions of
management. Such statements and information reflect the current
view of Almonty with respect to risks and uncertainties that may
cause actual results to differ materially from those contemplated
in those forward-looking statements and information. By their
nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors and assumptions which may cause
actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
Investors are cautioned against attributing undue certainty to
forward-looking statements. Almonty cautions that the foregoing
list of material factors is not exhaustive. When relying on
Almonty’s forward-looking statements and information to make
decisions, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
Almonty has also assumed that material factors will not cause
any forward-looking statements and information to differ materially
from actual results or events. However, the list of these factors
is not exhaustive and is subject to change and there can be no
assurance that such assumptions will reflect the actual outcome of
such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS
RELEASE
REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS
PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING
INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY
OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO
UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED
IN ACCORDANCE WITH APPLICABLE LAWS.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160209006912/en/
Almonty Industries Inc.Lewis Black, Chairman, President &
CEOTelephone: (647) 438-9766Email: Info@almonty.comorDennis Logan,
Director & Chief Financial OfficerTelephone: (647)
438-9766Email: Info@almonty.com
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