Arianne Phosphate Reports Corporate and Financial Results for Third Quarter 2020 DAN: TSX-V ( Canada ) JE9N: FSE ( Germany ) DRRSF: OTC ( USA )
Arianne Phosphate Reports Corporate and
Financial Results for Third Quarter 2020
DAN: TSX-V (
Canada
)
JE9N: FSE (
Germany
)
DRRSF: OTC (
USA
)
SAGUENAY, QC,
Nov. 19, 2020
/CNW Telbec/ -
Arianne Phosphate (the "Company" or
"Arianne")
(TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate
mining company, advancing the Lac à Paul project in
Quebec's
Saguenay-Lac-Saint-Jean region,
reported its financial results for the three-month and nine-month period ended
September 30, 2020
.
All amounts are in Canadian dollars unless noted.
"Through the third quarter, Arianne continued to drive the optimization of its project as metallurgical
tests have shown a path towards lower operating times and costs," said
Brian Ostroff
, CEO of the
Company. "Of significant interest as well, has been the rapid improvement in the pricing of many
agricultural commodities. With many governments around the world fighting the economic effects of
Covid-19 through extensive money-printing measures, much of this liquidity has made its way into
commodities with some grain prices now trading at levels not seen in many years. Resulting from
this, we have also seen increasing demand for fertilizer and a subsequent price increase. With
phosphate fertilizer prices up roughly 35% since the summer, this continues to increase the
economics of our project and, with that, continued discussion with potential partners and financiers."
Q3 2020 Financial and Operational Highlights
In
July 2020
, the Company announced that it has received favorable results from recently
conducted metallurgical tests performed at COREM Labs in
Quebec City, Canada
. In tests run
earlier this year, Arianne weighed the benefits of using a different collector agent sourced from
NordChem, a Canadian-based company that provides tailor-made chemicals to the mining
industry. Results recently received from these tests demonstrated that Arianne could produce a
phosphate concentrate averaging 40.25% P2O5 with recoveries ranging between 91.1% and
93.2% and, combined with the rapidity with which this collector acts, would also produce cost
savings in the production of our high-purity concentrate.
In
August 2020
, Arianne received further results from tests designed to optimize its metallurgical
process and reduce its operating cost. The process was run at lower water temperatures to
simulate the water temperatures available at site through most of the operating year. Using
water at 4˚C, as opposed to the originally tested 20˚C, showed no adverse effect on the
recoveries or quality of Arianne's phosphate concentrate and thus, will allow Arianne to produce
the same quality product while reducing the time and costs associated with heating.
Financial Summary
Arianne is a development-stage company and, as such, did not generate revenue or positive cash
flow in Q3 2020. In the third quarter ended
September 30, 2020
, the Company incurred
net losses
of $
0.2 million (M)
for the three-month period
and
$0.8M
for the nine-month period. For the
same period in 2019, the net loss incurred was
$0.4M
for the three-months period
and
$1.7M
for
the nine-month period in 2019.
Outlook
Through the rest of 2020 and into the new year, Arianne will be focused on the ongoing
advancement and development of its Lac à Paul project, namely:
Complete partnership and financing arrangements;
Continue to enhance the value of the project through project optimization;
Continue our ongoing dialogue with Stakeholders.
Arianne's Management Discussion and Analysis and condensed consolidated interim financial
statements for the nine–month period ended
September 30, 2020
are available on the Company's
website and on SEDAR at
www.sedar.com
.
Qualified
Person
Jean-Sébastien David, P.Geo., Qualified Person by NI 43-101, has approved this release. Mr. David
is also the Company's Chief Operating Officer.
About Arianne Phosphate
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% P
2
O
5
with little or no contaminants (Feasibility Study released in 2013). The Company has
123,198,348 shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Follow Arianne on:
Facebook:
https://www.facebook.com/ariannephosphate
Twitter:
http://twitter.com/arianne_dan
YouTube:
http://www.youtube.com/user/ArianneResources
Flickr:
http://www.flickr.com/photos/arianneresources
Resource Investing News:
http://resourceinvestingnews.com/?s=Arianne
Cautionary Statements Regarding Forward Looking Information
This news release contains "forward-looking statements" and "forward-looking information"
within the meaning of applicable securities regulations in
Canada
and
the United States
(collectively, "forward-looking information"). Forward-looking information includes, but is
not limited to, anticipated quality and production of the apatite concentrate at the Lac à Paul
project. Often, but not always, forward-looking information can be identified by the use of
words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates",
forecasts", "intends", "anticipates", or "believes", or the negatives thereof or variations of
such words and phrases or statements that certain actions, events or results "may", "could",
"would", "might", or "will" be taken, occur or be achieved. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such forward-looking information,
including but not limited to: volatile stock price; risks related to changes in commodity
prices; sources and cost of power facilities; the estimation of initial and sustaining capital
requirements; the estimation of labour and operating costs; the general global markets and
economic conditions; the risk associated with exploration, development and operations of
mineral deposits; the estimation of mineral reserves and resources; the risks associated with
uninsurable risks arising during the course of exploration, development and production;
risks associated with currency fluctuations; environmental risks; competition faced in
securing experienced personnel; access to adequate infrastructure to support mining,
processing, development and exploration activities; the risks associated with changes in the
mining regulatory regime governing the Company; completion of the environmental
assessment process; risks related to regulatory and permitting delays; risks related to
potential conflicts of interest; the reliance on key personnel; financing, capitalization and
liquidity risks including the risk that the financing necessary to fund continued exploration
and development activities at Lac à Paul project may not be available on satisfactory terms,
or at all; the risk of potential dilution through the issue of common shares; the risk of
litigation. Forward-looking information is based on assumptions management believes to be
reasonable at the time such statements are made, including but not limited to, continued
exploration activities, no material adverse change in commodity prices, exploration and
development plans proceeding in accordance with plans and such plans achieving their
stated expected outcomes, receipt of required regulatory approvals, and such other
assumptions and factors as set out herein. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from those contained in
the forward-looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such forward-looking
information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such forward-looking information. Accordingly, readers
should not place undue reliance on forward-looking information. Forward-looking
information is made as of the date of this press release, and the Company does not
undertake to update such forward-looking information except in accordance with applicable
securities laws.
SOURCE
Arianne Phosphate Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/November2020/19/c3711.html
%SEDAR: 00003556E
For further information:
Source: Jean-Sébastien David, C.O.O, Tel. : 418-549-7316,
[email protected]; Info: Brian Ostroff, C.E.O., Tel. : 514-908-4202, brian.ostroff@arianne-
inc.com
CO: Arianne Phosphate Inc.
CNW 17:00e 19-NOV-20