DAN: TSX-V (Canada ) JE9N: FSE (Germany ) DRRSF: OTC (USA )
SAGUENAY, QC , Aug. 24, 2022 /CNW/ - Arianne Phosphate (the "Company" or "Arianne") (TSXV: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate mining company, advancing its Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region, reported its financial results for the six-months ended June 30, 2022 . All amounts are in Canadian dollars unless otherwise noted.
Arianne is a development-stage company and, as such, did not generate revenue or positive cash flow in Q2 2022. In the second quarter ended June 30, 2022 , the Company incurred net losses of $1.9 million M for the three-month period and $3.2M for the six-month period. For the same period in 2021, the net loss incurred was $1.5M for the three-months period and $5.9M for the six-month period. The lower loss in 2022 is explained by borrowing costs that were higher in 2021 due to the conversion in share of the loans that created a loss on conversion and the extension of the credit line as at Q1 2021. These costs are noncash.
Arianne's Management Discussion and Analysis and condensed consolidated interim financial statements for the six‑month period ended June 30, 2022 are available on the Company's website and on SEDAR at www.sedar.com.
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% P2 O5 with little or no contaminants (Feasibility Study released in 2013). The Company has 190,037,348 shares outstanding.
Raphael Gaudreault , eng., Qualified Person by NI 43-101, has approved this release. Mr. Gaudreault is also the Company's Chief Operating Officer.
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.
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
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 be 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 approval, 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.
View original content: http://www.newswire.ca/en/releases/archive/August2022/24/c4844.html
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