Athabasca Minerals' (AMI) financial statements for the third quarter of 2021 confirm a consolidated revenue of $4.3 million and $8.8m for nine months ending 30 September.
AMI Aggregates divisional revenue for Q3-2021 was $0.2m (© Teodor Andrei Bahnean | Dreamstime.com)
Other highlights include:
- AMI silica's divisional revenue for Q3-2021 was $2.2m, and $2.7m for nine months ending 30 September. AMI Silica's joint venture company with a confidential (50/50) partner and its operations service agreement with an industry client (effective June-1st, 2021) continued throughout Q3, and remains active as of the date of filing.
- AMI RockChain divisional revenue for Q3-2021 was $1.7m, and $4.5m for nine months ending 30 September. AMI RockChain also announced the appointment of Paul Leveille in the role of chief technology officer.
- AMI aggregates divisional revenue for Q3-2021 was $0.2m, and $1.2m for nine months ending 30 September. Coffey Lake and Kearl Lake were both active in Q3.
- TerraShift engineering divisional revenue for Q3-2021 was $0.4m, and $0.9m for nine months ending 30 September.
- The corporation increased its unrestricted cash position by $1.0m utilising the Account Performance Security Guarantee programme from Export Development Canada. This resulted in guaranteed investment certificates replacing previous Letters of Credit (restricted cash) for Government of Alberta future reclamation liabilities.
AMI CEO Robert Beekhuizen says: "We are pleased with the corporation's turnaround in performance in 2021. We continue to grow cash-flow across all our divisions, noting that AMI's nine-month revenues in 2021 exceed the corporation's annual revenues for each of the past five years. Our business re-positioning and divisional restructuring is working. We're excited about maintaining this positive trajectory and bringing further value to the shareholders of Athabasca Minerals in 2022."
