Altius Minerals Corporation (TSX: ALS) Reports Second Quarter Net Loss of $2,868,000
(firmenpresse) - ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwire) -- 12/14/11 -- Altius Minerals Corporation ("Altius") (TSX: ALS) reported a net loss attributable to common shareholders of $2,868,000 or $0.10 per share for the three months ended October 31, 2011 compared to net earnings of $2,138,000 for the same period last year. The current year's loss includes the Corporation's share of losses in Alderon Iron Ore Corporation ("Alderon") of $1,790,000 and mineral property write-downs totaling $1,055,000. Offsetting these amounts was an increase in royalty revenue to $723,000 compared to $648,000 in the previous year.
A summary of the unaudited financial results is included in the following table.
The Corporation saw significant progress on its partner-funded projects during the quarter, particularly in the Labrador West iron ore mining district. Milestones achieved during the quarter included the following:
The Corporation is also actively discussing potential exploration agreements with various industry partners on numerous wholly owned projects, while it continues to conduct independent and partner-funded preliminary generative exploration programs in Nunavut, the Yukon, Labrador and the Island of Newfoundland.
Additional information on the Corporation's results of operations is included in the Corporation's MD&A and Unaudited Financial Statements, which were filed on SEDAR today.
About Altius
Altius is focused on the mining and resources sector through prospect generation and the creation and acquisition of royalties and investments. Altius has a strong financial position with total assets of approximately $300 million, including $175 million in cash and marketable securities. It has also built a portfolio of directly and indirectly held junior resource investments, including 32.9 million shares of Alderon Resource Corp. (TSX: ADV).
Altius owns an effective 0.3% net smelter return royalty on the producing Voisey's Bay nickel-copper-cobalt mine, a 2% gross sales royalty on uranium in the Central Mineral Belt project of Paladin Energy Limited, a 3% gross sales royalty on the Kami iron ore project of Alderon and several earlier stage resource project royalties. Its growing project generation pipeline consists of a diversified portfolio of exploration projects, many of which it have attracted joint venture funding partners.
Altius is a member of the S&P/TSX Global Mining Index and currently has 28,818,653 shares outstanding.
Contacts:
Altius Minerals Corporation
Ben Lewis or Chad Wells
1-877-576-2209
709-576-3441 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 14.12.2011 - 13:30 Uhr
Sprache: Deutsch
News-ID 96921
Anzahl Zeichen: 0
contact information:
Town:
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 162 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Altius Minerals Corporation (TSX: ALS) Reports Second Quarter Net Loss of $2,868,000"
steht unter der journalistisch-redaktionellen Verantwortung von
Altius Minerals Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
