The Corporation's financial statements and management's discussion and analysis ('MD&A') are available on SEDAR at www.sedar.com and on the
In the third quarter of 2020, Athabasca reported consolidated revenue of
COVID-19 UPDATE
Athabasca and its subsidiaries will continue to be operational through the new enhanced public health directives issued by the Province of
The quarterly increase in revenue was a result of growth in aggregate sales revenue from AMI RockChain. In the third quarter of 2020, management services revenue was also generated by TerraShift, while the comparable quarter had nil revenue with the closure of
For the nine months ended
Gross profit (loss) for the three and nine months ended
The total loss (income) and comprehensive loss (income) for the three and nine months ended
Net working capital of
Grant of Stock Options and Deferred Share Units
AMI announces that its Board of Directors have approved the grant of 664,800 stock options ('Options') and 36,000 Deferred Share Units ('DSUs') to officers, directors, and select management of the Corporation pursuant to the Corporation's Options and DSU plans as well as the Corporation's Stock Option Replenishment Program. The Options have an exercise price of
About
Athabasca is an integrated group of companies focused on the aggregates, industrial minerals and resource sectors, including exploration and development; aggregates marketing and midstream supply-logistics solutions. Business activities include aggregate production, sales and royalties from corporate-owned pits, management services of third-party pits, acquisitions of sand and gravel operations, integrated supply/delivery solutions of industrial minerals, and new venture development. The Corporation is strategically focused on growing its three core business units: the AMI Aggregates division, the AMI RockChain division, and the AMI Silica division. Management is continually pursuing opportunities for sustained growth and diversification in supplying aggregate products and industrial minerals.
Contact:
Tel: 587-391-0548
Email: tanya.finney@athabascaminerals.com
FORWARD LOOKING STATEMENTS
This document contains 'forward looking statements' and 'forward-looking information' (collectively referred to herein as 'forward-looking statements') concerning anticipated developments and events that may occur in the future. Forward looking statements include, but are not limited to: statements with respect to the estimation of aggregate and mineral reserves and resources, the realization of aggregate and mineral reserve estimates, disposition of assets, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital, potential joint venture relationships, potential acquisitions, geographic diversification, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage.
Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'continues', 'future', 'forecasts', 'potential', 'budget' and similar expressions, or are events or conditions that 'will', 'would', 'may', 'likely', 'could', 'should', 'can', 'typically', 'traditionally' or 'tend to' occur or be achieved. This MD&A contains forward-looking statements, pertaining to, among other things, the following: the impact of Athabasca's financial resources or liquidity on its future operating, investing and financing activities; Athabasca's capital budgets, the appropriateness of the amount and expectations of how it will be funded; the Corporation's capital management strategy and financial position; Athabasca's outlook, industrial and construction levels, and focus on cost management; the expansion of customers and network of AMI RockChain; the international industrial partner or joint venture for the
Although the Corporation believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements are made, undue reliance should not be placed on the forward-looking statements because the Corporation can give no assurances that such statements and information will prove to be correct and such statements are not guarantees of future performance. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual performance and results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: known and unknown risks, including those set forth in the Corporation's annual information form dated
Statements, including forward-looking statements, contained in this MD&A are made as of the date they are given and the Corporation disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements contained in this MD&A are expressly qualified by this cautionary statement.
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