October 22, 2014, Edmonton, Alta. – Athabasca Minerals Inc. announced its
financial results for the three and nine months ended August 31, 2014 which
includes record revenue and the second highest quarterly net income.
October 22, 2014, Edmonton, Alta. – Athabasca Minerals Inc. announced its
financial results for the three and nine months ended August 31, 2014 which
includes record revenue and the second highest quarterly net income.
Q3 2014 Highlights
-
Highest quarterly sales revenue in Corporation's history of
$9,326,884 during Q3 2014; -
Second highest quarterly net income in Corporation's
history; -
Delivery of 2,871,110 tonnes from the Susan Lake pit in Q3
2014, a 11.9% decrease from Q3 2013 delivery of 3,259,127; -
Delivery of 203,985 tonnes of aggregates from
corporate-owned pits in Q3 2014, a 175.8% increase from Q3 2013 delivery of
73,951 tonnes; -
Revenue from corporate-owned pits of $5,982,196 in Q3 2014,
a 206.1% increase from Q3 2013 revenue of $1,954,643; -
Received approval for the right to work and remove sand from
Phase One of the Firebag Frac Sand Project from Alberta Environment and
Sustainable Resource Development (ESRD); and -
Corporation added to the S&P / TSX Venture Exchange
Select Index.
President and CEO Dom Kriangkum states, "We are pleased
to see the demand for aggregates in the Fort McMurray region increase during Q3
2014, and anticipate continuing strength during Q4 2014, when demand for
aggregates is traditionally highest during the second half of the year. We have
realized some significant recent success from implementing a number of cost
reduction opportunities in extraction and processing that we targeted in the
first half of 2014. Having received the Firebag Phase One permit approval
presents a great opportunity for the development of our frac sand for use by
Western Canadian pressure pumpers. We await Firebag's Preliminary Economic
Assessment that we expect in Q4 2014, which will further validate the viability
of the project."
The Corporation's unaudited interim financial statements and
management's discussion and analysis for the three and nine months ended August
31, 2014 are available on SEDAR at www.sedar.com and on the Athabasca Minerals
website at www.athabascaminerals.com.
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