Arianne Phosphate Reports Corporate and Financial Results for Third Quarter 2021 DAN: TSX-V ( Canada ) JE9N: FSE ( Germany ) DRRSF: OTC ( USA )
Arianne Phosphate Reports Corporate and
Financial Results for Third Quarter 2021
DAN: TSX-V (
Canada
)
JE9N: FSE (
Germany
)
DRRSF: OTC (
USA
)
SAGUENAY, QC,
Nov. 17, 2021
/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, 2021
.
All amounts are in Canadian dollars unless noted.
"The third quarter saw continued advancement for our Company," said
Brian Ostroff
, President of
Arianne Phosphate. "Supply disruptions, export restrictions and a much-improved agricultural macro
have all acted to push phosphate prices to multi-year highs and act as a catalyst in our discussions
with potential partners and offtakers. Beyond agricultural requirements, other applications such as
Lithium-Iron-Phosphate batteries have also advanced, resulting in discussions with those in the
battery and automotive industry as well. Arianne's high-purity phosphate concentrate from a safe
geopolitical jurisdiction places the Company in an enviable position and, higher prices continue to
make a compelling argument for the project."
Financial and Operational Highlights
In
November 2021
, the Company announced that following preliminary test work, conducted in
collaboration with several battery industry participants, the Company will now be sending out its
high-purity phosphate concentrate for a more detailed analysis. This next stage of testing has
been designed to meet specifications provided by a major battery producer by way of MoU and,
through an independent facility that is a producer of purified phosphoric acid.
During Q3 2021. Arianne had sold a piece of land to Port of Saguenay according to the
agreement in principle with the Port of Saguenay regarding the future site of a maritime loading
facility on the north shore of the Saguenay River closed in
April 2021
.
On
August 10, 2021
, Arianne announced that it had engaged Lytham Partners to provide
investor relations services to the Company. The engagement of Lytham Partners will allow
Arianne to continue its outreach program that had commenced in the first quarter of 2021.
Financial Summary
Arianne is a development-stage company and, as such, did not generate revenue or positive cash
flow in Q3 2021. In the third quarter ended
September 30, 2021
, the Company incurred net losses
of
$1.2 million
(M) for the three-month period and
$7.1M
for the nine-month period. For the same
period in 2020, the net loss incurred was
$1.7M
for the three-months period and
$4.2M
for the nine-
month period. The higher losses are explained by borrowing costs that were previously capitalized.
Since the Company is currently in a period of raising funding for its project development through
financing and offtake agreements and, is not carrying on substantial technical work, the Company is
expensing its borrowing costs until further technical work is done on the project.
Arianne's Management Discussion and Analysis and condensed consolidated interim financial
statements for the three–month and nine-month period ended
September 30, 2021
are available on
the Company's website and on SEDAR at
www.sedar.com
.
Qualified
Person
Raphael Gaudreault
, eng. Qualified Person by NI 43-101, has approved this release. Mr. Gaudreault
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
185,389,469 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:
http://www.newswire.ca/en/releases/archive/November2021/17/c0272.html
%SEDAR: 00003556E
For further information:
Source : Raphael Gaudreault, COO, Tél. : 418-549-7316,
[email protected]; Info: Brian Ostroff, President, Tel. : 514-908-4202,
CO: Arianne Phosphate Inc.
CNW 16:30e 17-NOV-21