![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Aldridge Minerals Inc. (delisted) | TSXV:AGM | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.095 | 0.095 | 0.10 | 0 | 01:00:00 |
Aldridge Minerals Inc. (TSX-V: AGM) (“Aldridge” or the “Company”) announced today the filing of unaudited consolidated interim financial statements as at and for the three and nine months ending September 30, 2015 (the “Q3 2015 Financials”), and the Management’s Discussion & Analysis related thereto (the “Q3 2015 MD&A”), which are available on SEDAR and at www.aldridgeminerals.ca.
Han Ilhan, President & CEO, commented, “In Q3 our focus continued to be advancing the Yenipazar land acquisition. This was facilitated by the receipt of the “Public Benefit” letter at the end of Q2, which as reported at that time, provides certainty that Aldridge will have access to all of the land needed for the development of the Yenipazar Project through a well-established compulsory process. This was followed in October 2015 with the completion by the State of its independent land valuation under the leadership of the local Governor’s office. We were pleased by the speed at which these two major milestones were achieved, particularly in light of the fact that two federal elections in Turkey took place over the same period.
“Although the State’s land price has not officially been disclosed to the individual landowners, we are confident that this compulsory price will be lower than the Company’s voluntary high value proposition to landowners. In the event a landowner does not sell to the State or to Aldridge within 15 days of being informed of the State determined price, the State will initiate the legal process to acquire the land. This is the final stage of the land acquisition process, which we expect will be completed in 2016.”
Mr. Ilhan added, “In parallel with the land acquisition, Aldridge will continue to progress its financing discussions, refine the engineering of the Project, and formulate plans to explore the balance of the Yenipazar concession.”
Aldridge’s Highlights and AchievementsThe following summarizes the key achievement areas in Q3 2015. Additional details are provided in the Q3 2015 MD&A:
Strategy and OutlookThe primary objective in 2015 was to position the Company to complete its LAP and project financing in 2016 and to advance Project engineering in parallel with the LAP. Upon completion of the LAP the Company expects a Project development period of approximately 24 months involving engineering, construction, commissioning and followed by commercial production in early 2019. As a result, the Company’s focus in Q4 2015 and 2016 is on advancing the following initiatives already underway:
Selected Financial InformationThe following table provides selected consolidated financial information that should be read in conjunction with the Q3 2015 Financials.
United States Dollars
NINE MONTHS ENDED AND AS AT
SEPTEMBER 30,
2015
NINE MONTHS ENDED AND AS AT
SEPTEMBER 30,
2014
YEARENDED AND AS AT
DECEMBER 31, 2014
Loss before income tax US$(4,416,404) US$(2,488,417) US$(3,191,177) Net loss (4,416,404) (2,488,417) (3,191,177) Net loss per share (0.04) (0.03) (0.04) Cash and cash equivalents 5,757,574 19,514,161 14,331,409 Working capital (i) (7,142,480) 18,766,112 14,103,639 Total assets 26,359,752 26,498,234 25,829,329 Total non-current financial liabilities 148,540 7,423,262 8,445,579(i) Working capital equals current assets less current liabilities, and is a non-GAAP measure used by management
About AldridgeAldridge is a development stage mining company focused on its wholly owned Yenipazar polymetallic Massive Sulfide Project (Au, Ag, Cu, Pb, Zn) in Turkey, a country that is committed to developing its natural resources. Aldridge completed the Yenipazar Optimization Study and filed the related technical report in May 2014, which updated the original May 2013 Feasibility Study. The Company is currently advancing the Yenipazar Project on key aspects including land acquisition, project financing, and engineering.
Caution Regarding Forward-Looking InformationThis news release includes certain forward-looking statements within the meaning of Canadian securities laws, including, but are not limited to the ability to accomplish remaining milestones, complete the Yenipazar land acquisition in 2016, extending the maturity date or refinancing the Company’s existing Loan facility, securing project financing, advancing the Yenipazar Project to production in 2019, economic performance, future plans and objectives of the Company.
Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking statements. Such risks, uncertainties and factors including meeting conditions for advances under the Loan and the other factors discussed under the heading “Risk Factors” in the Company’s Management’s Discussion and Analysis and Annual Information Form for the year ended December 31, 2014 and in other continuous disclosure filings made by the Company with Canadian securities regulatory authorities and available at www.sedar.com. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results.
Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of Aldridge and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates. Although Aldridge believes that the assumptions and factors used in making the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aldridge disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise unless required by law.
Neither the 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 news release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151113005046/en/
Aldridge MineralsHan Ilhan, 416-477-6988President & CEOorDavid Carew, 416-477-6984Director of IR & Corporate Secretary
1 Year Aldridge Minerals Inc. Chart |
1 Month Aldridge Minerals Inc. Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions