Arianne Phosphate Reports 2014 Annual and Fourth Quarter Results

Arianne Phosphate (TSXV:DAN) announced its fourth quarter and year end financial and operational results for 2014. The company also provided an outlook on its plans for 2015.

Financial and operational highlights for 2014:

• Optimized its operating production process that will result in costs savings of US$3.91 per tonne of phos-rock concentrate or approximately US$280 million over Lac à Paul’s expected 26-year life of mine due to the elimination of two reagents;
• Strengthened its leadership team through the appointment of Pierre Fitzgibbon, as Executive Chairman of the Board of Directors, Dominique Bouchard asVice-Chairman of the Board of Directors, Jean-Sebastien David as Chief Operating Officer and Dino Fuoco as Chief Financial Officer;
• Announced the closing of an $8 million private placement financing that included a $2 million investment from the Québec Government through Ressources Québec, a subsidiary of Investissement-Québec;
•  Increased its resources at the measured and indicated categories by 13 percent to 688 million tonnes at a grade of 7.01 percent at the Paul Zone of the Lac à Paul project; and
• Determined the location of the deep-water port on the Saguenay River that will be used for the shipment of its phosphate concentrate to clients.

Outlook for 2015:

In 2015, Arianne will be focused on the ongoing advancement of its Lac à Paul Project. Expected milestones in 2015 include:

•  Additional optimization of operating and capital expenses;
•  Signing “agreements in principle” with First Nations to proceed with development of the Lac à Paul Project;
•  Securing environmental  permitting from appropriate government agencies; and
•  Securing strategic partners and financing

Jean-Sebastien David, CEO of Arianne Phosphate, commented:

Arianne has developed considerable momentum over the past 12 months. Most significantly, we strengthened the economics of our Lac à Paul project,  attracted the Quebec government as a strategic investor and  started the permitting process that, upon successful completion, will serve as a major catalyst for our company.  Combined, these developments further underscore the value of Lac à Paul and its potential to provide customers in the food and agriculture sectors with surety of supply.

Click here to read the full Arianne Phosphate (TSXV:DAN) press release.