Applied Minerals, Inc. Reports Earnings Results for the Full Year Ended December 31, 2019
June 01, 2020 at 06:45 am EDT
Share
Applied Minerals, Inc. announced earnings results for the full year ended December 31, 2019. For the full year, the company announced sales was USD 486,046 compared to USD 4.873 million a year ago. Operating loss was USD 4.043 million compared to USD 2.000 million a year ago. Net loss was USD 5.973 million compared to USD 3.325 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.02 a year ago.
Applied Minerals, Inc. owns the Dragon Mine in central Utah. From the mine the Company extract, process or has processed by a third party, halloysite clay and iron oxide for sale to a range of end markets. The Company markets the minerals directly and through distributors. It is also engaged in research and development and frequently works collaboratively with customers, consultants, distributors; and a third-party processor to process and enhance its halloysite clay products to improve the performance of its customersâ existing and new products. Its halloysite clay, which the Company markets under the DRAGONITE trade name, is an aluminosilicate mineral with a hollow tubular shape. DRAGONITE can utilize halloysiteâs shape, high surface area, and reactivity to add significant functionality to a number of applications. The Companyâs iron oxide, which it markets under the AMIRON trade name, sales for use in cement, as well as an absorbent for hydrogen sulfide gas contained in natural gas.
APPLIED MINERALS, INC. 
