Applied Minerals, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 14, 2020 at 04:42 pm EDT
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Applied Minerals, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was USD 143,593 compared to USD 218,936 a year ago. Operating loss was USD 929,127 compared to USD 1.162 million a year ago. Net loss was USD 1.383 million compared to USD 1.692 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. For the half year, sales was USD 296,069 compared to USD 339,463 a year ago. Operating loss was USD 1.676 million compared to USD 2.113 million a year ago. Net loss was USD 1.276 million compared to USD 3.035 million a year ago. Basic loss per share from continuing operations was USD 0.01 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. 
