Athabasca Generates EPS of $0.030
30 Juillet 2013 - 3:02PM
Marketwired Canada
Athabasca Minerals Inc. (the "Corporation" or "Athabasca") (TSX VENTURE:ABM) is
pleased to announce the filing of its Q2 financial results for the three months
ended May 31, 2013. Athabasca reports the following highlights from Q2 2013:
-- Record second quarter revenues in the amount of $6,278,678 compared with
$3,209,483 during Q2 2012;
-- Net aggregate sales from corporate-owned operations in the amount of
$3,851,656 compared with $443,705 during Q2 2012;
-- EPS of $0.030;
-- Q2 net income of $847,445 compared with $721,252 during Q2 2012;
-- Increased activity at the corporate-owned Kearl aggregate operation with
140,945 tonnes sold during Q2.
During Q2 the Corporation earned net income of $847,445, which included
significant amounts for non-cash items. Q2 2013 YTD net income, adjusted for
non- cash items, was $2,472,733 compared to $2,397,490 in the comparative
period, an increase of 3.1%.
The Corporation continued its transition to supplying sand and gravel from
corporate-owned aggregate operations, while maintaining management activities at
the Susan Lake aggregate operation. During Q2 2013, management continued to
improve efficiency associated with the corporate-owned aggregate operations, and
although regular intermittent stoppages occurred due to weather, over 317,000
tonnes of sand and gravel were processed. Operations at Logan and House River
are expected to resume at such time that winter roads can be accessed and
product is deliverable.
The Corporation continues to await its development permit for the Firebag frac
sand project and railway land facility. Upon receipt of this permit, news will
be disseminated.
President Dom Kriangkum states; "We are very pleased with the return to
profitability after a challenging first quarter, and anticipate gravel
production and delivery will improve in the second half of the year, consistent
with previous year's activity. In addition to our growing equipment fleet we
have doubled our workforce compared to last year, and continue to evaluate new
industrial mineral properties and bid on new projects located near Fort
McMurray." Mr. Kriangkum also adds; "The recent announcement by the Alberta
Government to expand the boundaries of the City of Fort McMurray by 22,000
hectares further demonstrates the growth in the region, which should result in
increased demands for sand and gravel. Our Corporation remains committed to
being a major sand and gravel supplier to Fort McMurray."
Q2 (Three months ended May 31, 2013 and May 31, 2012)
----------------------------------------------------------------------------
Q2 Q2
May 31, 2013 May 31, 2012
----------------------------------------------------------------------------
Aggregate management fees $2,427,022 $2,765,778
----------------------------------------------------------------------------
Net aggregate sales $3,851,656 $443,705
----------------------------------------------------------------------------
Total revenue $6,278,678 $3,209,483
----------------------------------------------------------------------------
Total aggregate tonnes sold 2,357,778 2,529,903
tonnes tonnes
----------------------------------------------------------------------------
Net income from aggregate operations $919,072 $721,252
----------------------------------------------------------------------------
Net income (including lodging land use
agreement) $847,445 $721,252
----------------------------------------------------------------------------
Basic income per common share $0.030 $0.026
----------------------------------------------------------------------------
Q2 YTD (Six months ended May 31, 2013 and May 31, 2012)
----------------------------------------------------------------------------
Q2 YTD Q2 YTD
May 31, 2013 May 31, 2012
----------------------------------------------------------------------------
Aggregate management fees $3,916,039 $4,788,287
----------------------------------------------------------------------------
Net aggregate sales $9,046,035 $2,050,815
----------------------------------------------------------------------------
Total revenue $12,962,074 $6,839,102
----------------------------------------------------------------------------
Total aggregate tonnes sold 3,874,002 4,496,882
tonnes tonnes
----------------------------------------------------------------------------
Net income from aggregate operations $710,841 $1,505,660
----------------------------------------------------------------------------
Net income (including lodging land use
agreement) $472,863 $1,505,660
----------------------------------------------------------------------------
Basic income per common share $0.017 $0.055
----------------------------------------------------------------------------
The complete financial statements for Athabasca for the three months ended May
31, 2013 and Management's Discussion & Analysis for the same period are
available for viewing on the Corporation's website at www.athabascaminerals.com
and on SEDAR at www.sedar.com
About Athabasca Minerals
Athabasca Minerals Inc. is a resource company involved in the management,
exploration and development of aggregate projects. These activities include
contracts work, aggregate pit management, new aggregate development and
acquisitions of sand and gravel operations. The Corporation also has industrial
mineral land holdings in the vicinity of Fort McMurray and Peace River, Alberta
for the purpose of locating and developing sources of industrial minerals and
aggregates essential to high growth economic development.
Neither the TSX Venture nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture) accepts responsibility for the
adequacy or accuracy of this release.
This news release contains forward-looking statements that involve risks and
uncertainties. Forward-looking statements or information are based on current
expectations, estimates and projections that involve a number of risks and
uncertainties which could cause actual results to differ materially from those
anticipated by the Corporation. The forward-looking statements or information
contained in this news release are made as of the date hereof and the
Corporation does not undertake any obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.
The securities of Athabasca have not been, nor will be, registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from U.S. registration
requirements. This release does not constitute an offer for sale of securities
in the United States.
FOR FURTHER INFORMATION PLEASE CONTACT:
Boardmarker Group
Dean Stuart
403-517-2270
dean@boardmarker.net
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