{"id":2961,"date":"2020-03-18T21:10:00","date_gmt":"2020-03-18T21:10:00","guid":{"rendered":"https:\/\/arianne-phosphate.aragroup.site\/?post_type=news&p=1327"},"modified":"2021-12-01T21:18:26","modified_gmt":"2021-12-01T21:18:26","slug":"arianne-phosphate-reports-financial-results-for-q4-and-ye-2019","status":"publish","type":"post","link":"https:\/\/itremma.com\/arianne\/arianne-phosphate-reports-financial-results-for-q4-and-ye-2019\/","title":{"rendered":"ARIANNE PHOSPHATE REPORTS FINANCIAL RESULTS FOR Q4 AND YE 2019"},"content":{"rendered":"\n

SAGUENAY, QUEBEC – (March 18, 2020) – Arianne Phosphate (the \u201cCompany\u201d or \u201cArianne\u201d) (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N), )<\/strong>, a development-stage phosphate mining company, advancing the Lac \u00e0 Paul project in Quebec\u2019s Saguenay-Lac-Saint-Jean region, reported its financial results for both the three and twelve-month periods ended December 31, 2019. All amounts are in Canadian dollars unless noted.<\/p>\n\n\n\n

2019 Financial and Operational Highlights<\/strong><\/p>\n\n\n\n

\u2022 In October 2019, Arianne has announced that it has received its initial findings back from a study regarding a downstream phosphoric acid facility. The Company\u2019s phosphate concentrate responded extremely well to the beneficiation process and resulted in the production of up to a 60% P2O5 Merchant Grade Acid (\u201cMGA\u201d) compared to the market typical 52% MGA grade. Furthermore, due to the high-quality nature of the phosphate concentrate input, the gypsum by-product produced during the process appears to have commercial value, whereas traditional phosphate concentrates will produce contaminated waste.
\u2022 In August 2019, Arianne has closed on a $691,050 financing. Under the terms of the financing, Arianne has issued 1,256,455 units at a price of $0.55 per unit. Each unit is comprised of one common share and a half warrant. Each full warrant entitles the holder to purchase one common share at a price of $0.75 until August 21, 2021. 
\u2022 In July 2019, the Company announced efforts surrounding transportation logistics have significantly progressed. Arianne partnered with several parties to look at greater integration of aluminum into the truck trailer design.  Through this initiative over the past year, Arianne and its partners have advanced a design that will be able to reduce the weight of the transport trucks and allow for a greater payload per run.  Once integrated, this will result in fewer trucks on the road, increasing safety and reducing the overall environmental impact.  As well, this design will bring about greater economies of scale, resulting in a reduction in the cost of transporting Arianne\u2019s phosphate concentrate to port and thus, the overall operating cost for its project. The initial assumption of the payload of trucks is 120 tonnes. With this effort, we are working toward a payload of 150 tonnes by truck. 
\u2022 In June 2019, Arianne entered into a non-binding Memorandum of Understanding (\u201cMoU\u201d) with SINOCONST, a large Chinese state-owned enterprise. Under the terms of the MoU, Arianne and SINOCONST have agreed to work towards a final binding agreement relating to the development of Arianne\u2019s Lac \u00e0 Paul project which, would include full project financing.  On a parallel track, efforts to secure offtake are expected to be undertaken by SINOCONST in support of the financing package discussed under the MoU. 
\u2022 In May 2019, the Company had closed a $1.5 million investment from the Government of Quebec by way of private placement into the common shares of Arianne. Under the terms of the offering, the Government of Quebec is subscribing for 3,671,970 common shares of the Company at a price of $0.4085 per share. The securities issued in connection with the financing are subject to a regulatory hold period of four months and one day expiring on September 6, 2019.
\u2022 In March 2019, the Company announced that it has entered into an agency agreement with Compagnie Indo Fran\u00e7aise de Commerce (\u201cCIFC\u201d) to market and sell Arianne\u2019s high-purity, low-contaminant phosphate concentrate into the Indian market. Based in New Delhi, India, Compagnie Indo Francaise de Commerce Pvt. Ltd. is a private company founded in 1967.  CIFC\u2019s business includes the trading, sale, marketing and supply of critical raw materials to India, including fertilizers, agricultural chemicals and animal feeds. <\/p>\n\n\n\n

Financial Summary<\/strong>
Arianne is a development-stage company and, as such, did not generate revenue or positive cash flow in 2019. In the fourth quarter and full-year period ended December 31, 2019, the Company incurred respective net losses of $0.5M and $2.1M, compared to $0.5M and $1.9M in the comparable periods in 2018. The Company\u2019s net loss and cash burn are consistent with other development stage mining companies.<\/p>\n\n\n\n

Liquidity<\/strong>
On December 31, 2019, the cash on hand will be allocated towards general working capital and advancing development of the Lac \u00e0 Paul project in 2020. Based on current spending estimates for future project development, Arianne anticipates it will need additional financing before the end of 2020.<\/p>\n\n\n\n

Outlook<\/strong>
In 2020, Arianne will be focused on the ongoing advancement and development of its Lac \u00e0 Paul project. Expected milestones include:<\/p>\n\n\n\n

\u2022 Complete partnership and financing arrangements;
\u2022 Continue to enhance the value of the project through project optimization;
\u2022 Continue our ongoing dialogue with Stakeholders.<\/p>\n\n\n\n

Arianne\u2019s Management Discussion and Analysis and Financial Statements for the three- and twelve-month period ended December 31, 2019, are available on the Company\u2019s website and on SEDAR at www.sedar.com<\/a>.<\/p>\n\n\n\n

Qualified Person<\/strong>
Jean-S\u00e9bastien David, P.Geo., Qualified Person by NI 43-101, has approved this release. Mr. David is also the Company\u2019s Chief Operating Officer.<\/p>\n\n\n\n

About Arianne Phosphate<\/strong>
Arianne Phosphate (\u201cArianne Phosphate Inc.\u201d) (www.arianne-inc.com<\/a>) is developing the Lac \u00e0 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<\/sub>O5<\/sub> with little or no contaminants (Feasibility Study released in 2013). The Company has 113,158,350 shares outstanding.<\/p>\n\n\n\n

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.<\/em>
– 30 –<\/p>\n\n\n\n

Contact Information:<\/strong>
Source: Jean-S\u00e9bastien David, C.O.O. Tel. : 418-549-7316 j.s.david@arianne-inc.com
Info:  Brian Ostroff, C.E.O. Tel. : 514-908-4202 brian.ostroff@arianne-inc.com<\/p>\n\n\n\n

Follow Arianne on:<\/strong>
Facebook: https:\/\/www.facebook.com\/ariannephosphate<\/a>
Twitter: http:\/\/twitter.com\/arianne_dan<\/a>
YouTube: http:\/\/www.youtube.com\/user\/ArianneResources<\/a>
Flickr: http:\/\/www.flickr.com\/photos\/arianneresources<\/a>
Resource Investing News: http:\/\/resourceinvestingnews.com\/?s=Arianne<\/a><\/p>\n\n\n\n

Cautionary Statements Regarding Forward Looking Information<\/strong><\/p>\n\n\n\n

This news release contains \u201cforward-looking statements\u201d and \u201cforward-looking information\u201d within the meaning of applicable securities regulations in Canada and the United States (collectively, \u201cforward-looking information\u201d). Forward-looking information includes, but is not limited to, anticipated quality and production of the apatite concentrate at the Lac \u00e0 Paul project. Often, but not always, forward-looking information can be identified by the use of words such as \u201cplans\u201d, \u201cexpects, \u201cis expected\u201d, \u201cbudget\u201d, \u201cscheduled\u201d, \u201cestimates\u201d, forecasts\u201d, \u201cintends\u201d, \u201canticipates\u201d, or \u201cbelieves\u201d, or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results \u201cmay\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d, or \u201cwill\u201d 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 \u00e0 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.<\/p>\n","protected":false},"excerpt":{"rendered":"

SAGUENAY, QUEBEC – (March 18, 2020) – Arianne Phosphate (the \u201cCompany\u201d or \u201cArianne\u201d) (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N), ), a development-stage phosphate mining company, advancing the Lac \u00e0 Paul project in Quebec\u2019s Saguenay-Lac-Saint-Jean region, reported its financial results for both the three and twelve-month periods ended December 31, 2019. All amounts are in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[],"tags":[],"class_list":["post-2961","post","type-post","status-publish","format-standard","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/posts\/2961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/comments?post=2961"}],"version-history":[{"count":0,"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/posts\/2961\/revisions"}],"wp:attachment":[{"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/media?parent=2961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/categories?post=2961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itremma.com\/arianne\/wp-json\/wp\/v2\/tags?post=2961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}