The Conversation (0)
Arianne Phosphate (TSXV:DAN,OTCBB:DRRSF) released its third quarter results on Thursday, highlighting the addition of 146 million tons of inferred resource at 5.3 percent potash in the TraMan Zone and 17 million tons at 5.98 percent potash in the Traverse Zone. The company closed a tranche of an $8 million private placement but also announced a loss of $1.26 million as it is still a development stage company.
According to the press release, third quarter highlights include:
Announced drilling results from TraMan and Traverse Zones:
- Addition of 146Mt of inferred resource at 5.30% P2O5 at the TraMan Zone
- Addition of 17Mt at 5.98% P2O5 at the Traverse Zone
Announced the closing of the first tranche of an $8 million private placement; the second tranche having been completed in October, led by an investment from the Quebec government, representing 25% of the total
Strategic changes to the management :
- Mr. Pierre Fitzgibbon, is the Executive Chairman of the Board of Arianne
- Mr. Dominique Bouchard, is the Vice-Chairman of the Board of Arianne
- Mr. Jean-Sébastien David is COO of the Company
- Mr. Dino Fuoco is the Chief Financial Officer
Jean-Sébastien David, COO of the Company, said:
We are pleased with Arianne’s progress during the third quarter. The Company continues to move towards its stated milestones of permitting, an agreement with the First Nations, project optimization and discussions with interested parties on a strategic relationship. Arianne had a busy quarter as progress was made on many of these fronts and we look forward to continued success in the coming quarter.
Click here to read the Arianne Phosphate (TSXV:DAN,OTCBB:DRRSF) press release
Click here to see the Arianne Phosphate (TSXV:DAN,OTCBB:DRRSF) profile.