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Almonty Industries Inc.(TSXV:All) announced financial and drill results for three and six month periods ending March 31, 2012. The Company announced filing it unaudited consolidated interim financial statements and management discussions.
Almonty Industries Inc.(TSXV:AII) announced financial and drill results for three and six month periods ending March 31, 2012. The Company announced filing it unaudited consolidated interim financial statements and management discussions.
As quoted in the press release:
Almonty reported revenue of $4,964, gross profit of $2,352 representing a gross profit margin of 47.4%, EBITDA1 of $1,539 and net income of $380 for the three month period ended March 31, 2012. For the six month period ended March 31, 2012 revenue totalled $11,449, gross profit was $5,422 representing a gross profit margin of 47.4%, EBITDA of $3,905 and net income of $1,126.
Almonty, CEO, Lewis Black, stated:
The operational results of the Los Santos Project for the three and six month periods ended March 31, 2012 are on target. Despite a challenging operational environment for part of the quarter due to unseasonably cold weather coupled with the lower average head grade of ore being mined we have managed to maintain our cash operating cost levels in line with the previous quarter. We are confident that as we continue to improve our tungsten recovery rate and improve the overall grade of ore being mined that our cash operating costs will be further reduced to our target level of US$125-130 per MTU.
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