DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, Nov. 17, 2021 /CNW
Telbec/ - Arianne Phosphate (the "Company" or "Arianne")
(TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage
phosphate mining company, advancing the Lac à Paul project in
Quebec's Saguenay-Lac-Saint-Jean
region, reported its financial results for the three-month and
nine-month period ended September 30,
2021. All amounts are in Canadian dollars unless noted.
"The third quarter saw continued advancement for our Company,"
said Brian Ostroff, President of
Arianne Phosphate. "Supply disruptions, export restrictions and a
much-improved agricultural macro have all acted to push phosphate
prices to multi-year highs and act as a catalyst in our discussions
with potential partners and offtakers. Beyond agricultural
requirements, other applications such as Lithium-Iron-Phosphate
batteries have also advanced, resulting in discussions with those
in the battery and automotive industry as well. Arianne's
high-purity phosphate concentrate from a safe geopolitical
jurisdiction places the Company in an enviable position and, higher
prices continue to make a compelling argument for the
project."
Financial and Operational Highlights
- In November 2021, the Company
announced that following preliminary test work, conducted in
collaboration with several battery industry participants, the
Company will now be sending out its high-purity phosphate
concentrate for a more detailed analysis. This next stage of
testing has been designed to meet specifications provided by a
major battery producer by way of MoU and, through an independent
facility that is a producer of purified phosphoric acid.
- During Q3 2021. Arianne had sold a piece of land to Port of
Saguenay according to the agreement in principle with the Port of
Saguenay regarding the future site of a maritime loading facility
on the north shore of the Saguenay River closed in April 2021.
- On August 10, 2021, Arianne
announced that it had engaged Lytham Partners to provide investor
relations services to the Company. The engagement of Lytham
Partners will allow Arianne to continue its outreach program that
had commenced in the first quarter of 2021.
Financial Summary
Arianne is a development-stage
company and, as such, did not generate revenue or positive cash
flow in Q3 2021. In the third quarter ended September 30, 2021, the Company incurred net
losses of $1.2 million (M) for the
three-month period and $7.1M for the
nine-month period. For the same period in 2020, the net loss
incurred was $1.7M for the
three-months period and $4.2M for the
nine-month period. The higher losses are explained by borrowing
costs that were previously capitalized. Since the Company is
currently in a period of raising funding for its project
development through financing and offtake agreements and, is not
carrying on substantial technical work, the Company is expensing
its borrowing costs until further technical work is done on the
project.
Arianne's Management Discussion and Analysis and condensed
consolidated interim financial statements for the three–month and
nine-month period ended September 30,
2021 are available on the Company's website and on SEDAR at
www.sedar.com.
Qualified Person
Raphael Gaudreault, eng. Qualified Person by NI
43-101, has approved this release. Mr. Gaudreault is also the
Company's Chief Operating Officer.
About Arianne Phosphate
Arianne Phosphate ("Arianne
Phosphate Inc.") (www.arianne-inc.com) is developing the Lac à Paul
phosphate deposits located approximately 200 km north of the
Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a
high-quality igneous apatite concentrate grading 39%
P2O5 with little or no contaminants
(Feasibility Study released in 2013). The Company has 185,389,469
shares outstanding.
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.
Follow Arianne on:
Facebook: https://www.facebook.com/ariannephosphate
Twitter: http://twitter.com/arianne_dan
YouTube: http://www.youtube.com/user/ArianneResources
Flickr: http://www.flickr.com/photos/arianneresources
Resource Investing
News: http://resourceinvestingnews.com/?s=Arianne
Cautionary Statements Regarding Forward Looking
Information
This news release contains "forward-looking statements"
and "forward-looking information" within the meaning of applicable
securities regulations in Canada
and the United States
(collectively, "forward-looking information"). Forward-looking
information includes, but is not limited to,
anticipated quality and production of the apatite concentrate
at the Lac à Paul project. Often, but not always, forward-looking
information can be identified by the use of words such as "plans",
"expects, "is expected", "budget", "scheduled", "estimates",
forecasts", "intends", "anticipates", or "believes", or the
negatives thereof or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might", or "will" be taken, occur or be achieved.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: volatile
stock price; risks related to changes in commodity prices; sources
and cost of power facilities; the estimation of initial and
sustaining capital requirements; the estimation of labour and
operating costs; the general global markets and economic
conditions; the risk associated with exploration, development and
operations of mineral deposits; the estimation of mineral reserves
and resources; the risks associated with uninsurable risks arising
during the course of exploration, development and production; risks
associated with currency fluctuations; environmental risks;
competition faced in securing experienced personnel; access to
adequate infrastructure to support mining, processing, development
and exploration activities; the risks associated with changes in
the mining regulatory regime governing the Company; completion of
the environmental assessment process; risks related to regulatory
and permitting delays; risks related to potential conflicts of
interest; the reliance on key personnel; financing, capitalization
and liquidity risks including the risk that the financing necessary
to fund continued exploration and development activities at Lac à
Paul project may not be available on satisfactory terms, or at all;
the risk of potential dilution through the issue of common shares;
the risk of litigation. Forward-looking information is based on
assumptions management believes to be reasonable at the time such
statements are made, including but not limited to, continued
exploration activities, no material adverse change in commodity
prices, exploration and development plans proceeding in accordance
with plans and such plans achieving their stated expected outcomes,
receipt of required regulatory approvals, and such other
assumptions and factors as set out herein. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such forward-looking
information. Accordingly, readers should not place undue reliance
on forward-looking information. Forward-looking information is made
as of the date of this press release, and the Company does not
undertake to update such forward-looking information except in
accordance with applicable securities laws.
SOURCE Arianne Phosphate Inc.
