Arianne Phosphate Inc. (TSXV:DAN) announced its financial results for the first quarter of 2015. It’s a development-stage company and thus did not generate revenue or positive cashflow.
Arianne Phosphate Inc. (TSXV:DAN) announced its financial results for the first quarter of 2015. It’s a development-stage company and thus did not generate revenue or positive cashflow; instead, it incurred a net loss of $891,200. That’s down from $1,405,963 during the year-ago period.
Other financial and operational highlights include:
- The Company announced a reduction of its operational estimated production cost of US$4.26 per ton representing a cost savings of almost 5% from the original Feasibility Study (FS). This should result in annual savings of approximatelyUS$12.75 million, or close to US$330 million over the planned 26-year mine life. According to Arianne’s FS filed in October 2013, the Company initially projected an FOB Port of Saguenay cost of US$93.70 per ton for its premium quality 39% P2O5 concentrate.
- Through exploration activities completed in 2014, Arianne has identified new measured and indicated resources on the Paul Eastern Extension. Arianne’s updated resource estimate now shows a 5% increase in measured and indicated resources (702.7 million tonnes vs. 668.7 million tonnes) over its previously announced resources released on October 14, 2014.
- The Company announced that it has successfully completed a customer trial program that produced a phosphate concentrate with a superior grade and lower contaminants than previously ever achieved by the company. The customer trial produced 1.2 tonnes of phosphate concentrate with a grade of 40.0% of P205 and 0.03% of contaminants. The results surpass previous metallurgical test work that had produced a P205 concentrate of 38.8% with 0.089% of contaminants.
- The first public information meeting regarding the BAPE was held on February 18, 2015 in the city of Saguenay. This is an essential and vital process in order for the Company to secure its operating permit. The Bureau is a neutral and independent organization that reports to the Ministère du Développement durable, Environnement et Lutte contre les changements climatiques (MDDELCC or Minister), Government of Québec. The role of the BAPE is to make enquiries and to consult the public in order to provide informed input that will assist in government decision making with a sustainable development perspective.
Arianne Phosphate (“Arianne Phosphate Inc.”) (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants. The Company has 95,325,755 million shares outstanding