In the fourth quarter of 2021, Athabasca reported consolidated gross revenue growth of 538% to $3.28 million vs. $0.5 million in Q4 2020 with a total loss and comprehensive loss of $0.64 million vs. $0.9 million in Q4 2020. The corporation increased its gross revenue by 494% to $12.1 million in 2021 vs. $2.0 million in 2020 with a total loss and comprehensive loss of $2.2 million vs. a loss of $3.5 million in 2020.
Robert Beekhuizen, chief executive officer, stated, “2021 was a pivotal year for our company as we pursued new initiatives and strategies focused on revenue growth and overall corporate performance. We are excited about what we have accomplished and are positioned well to continue our growth throughout 2022. We are committed to driving all of our divisions forward and creating opportunities that will result in successes for AMI and increased value for our shareholders.”
Athabasca Minerals reports the following key highlights for Q4 2021 and subsequent highlights for 2022:
- Consolidated gross revenue for Q4 2021 was $3.3 million, and $12.1 million for 12 months ending Dec. 31, 2021.Year-to-date 2022 revenue (as of date of filing) is anticipated to exceed $8.8 million.
- AMI Silica’s divisional revenue for Q4 2021 was $2.0 million, and $4.6 million for 12 months ending Dec. 31, 2021. Year-to-date 2022 revenue (as of date of filing) is anticipated to exceed $4.0 million. (This includes revenue from AMI Silica LLC on a proportional basis, i.e. AMI’s 50% net ownership).
- AMI RockChain divisional revenue for Q4 2021 was $0.6 million, and $5.0 million for 12 months ending Dec. 31, 2021. Year-to-date 2022 revenue (as of date of filing) is anticipated to exceed $3.0 million.
- AMI Aggregates divisional gross revenue for Q4 2021 was $0.4 million, and $1.6 million for 12 months ending Dec. 31, 2021. Year-to-date 2022 revenue (as of date of filing) has exceeded $1.5 million.
- TerraShift Engineering divisional revenue for Q4 2021 was $0.4 million, and $1.3 million for 12 months ending Dec. 31, 2021. Year-to-date 2022 revenue (as of date of filing) is $0.3 million.
- On Dec. 1, 2021, the corporation announced the acquisition of strategic sand assets in Wisconsin, which includes real estate of 1,100 acres, a fully functional and staffed mine and processing plant capable of 2 million tons sand production annually, fixed storage, rail transload with unit train capability (i.e. loading/unloading 100 railcar shipments), mobile equipment and active supply chain contracts.
- The acquisition was completed by AMI Silica, which is 50% co-owned by JMAC Energy Services. AMI’s share of funding for the acquisition was made through a non-brokered Private Placement with JMAC Resources Ltd on Dec. 1, 2021. The company subsequently announced the closing of the acquisition on March 3, 2022.
- On Feb. 22, 2022, the corporation announced that it had commenced the mining and delivery of premium domestic sand from its Firebag resource under its partnership agreement with Métis North Sand & Gravel to a major oil sands operator. In December 2021, the partnership received a 1.0 million tonne notice of award which will be fulfilled throughout 2022 from AMI’s Firebag and Kearl pits.
- On March 7, 2022, the corporation announced the receipt of two purchase orders totaling $2.2 million for the supply of aggregates from the Hargwen and Coffey Lake pits.
- On March 16, 2022, the corporation announced a Definitive Agreement for the construction, operation, and supply of treated industrial wastewater for the Prosvita Sand Project.