Athabasca Minerals Inc. announced its financial statements for the third quarter ending Sept. 30. Athabasca reported consolidated revenue of $4.3 million (versus $0.4 million in third quarter 2020) and $8.8 million for nine months (versus $1.5 million, nine months ending 2020), with contributions from all four divisions: AMI Aggregates, AMI RockChain, AMI Silica and TerraShift Engineering.
Robert Beekhuizen, chief executive officer, said, “We are pleased with the corporation’s turnaround in performance in 2021. We continue to grow cash-flow across all our divisions, noting that AMI’s nine-month revenues in 2021 exceed the corporation’s annual revenues for each of the past five years. Our business re-positioning and divisional restructuring is working. We’re excited about maintaining this positive trajectory and bringing further value to the shareholders of Athabasca Minerals in 2022.”
Athabasca Minerals also reported the following third-quarter highlights:
- AMI Silica’s divisional revenue was $2.2 million, and $2.7 million for nine months ending Sept. 30. AMI Silica’s joint venture company with a confidential (50/50) partner and its operations service agreement with an industry client (effective June 1) continued throughout the third quarter, and remains active as of the date of filing.
- AMI RockChain divisional revenue was $1.7 million, and $4.5 million for nine months ending Sept. 30. AMI RockChain also announced the appointment of Paul Leveille in the role of chief technology officer.
- AMI Aggregates divisional revenue was $0.2 million, and $1.2 million for nine months ending Sept. 30. Coffey Lake and Kearl Lake were both active in the third quarter.
- TerraShift Engineering divisional revenue was $0.4 million, and $0.9 million for nine months ending Sept. 30.