Applied Minerals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 30, 2022 at 08:53 am EST
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Applied Minerals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 0.111688 million compared to USD 0.360815 million a year ago. Net income was USD 0.190887 million compared to net loss of USD 1.02 million a year ago.
For the nine months, sales was USD 0.295838 million compared to USD 1.1 million a year ago. Net loss was USD 1.7 million compared to USD 2.7 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. 
