Mr. James Hesketh reports
ATNA REPORTS THIRD QUARTER 2013 EARNINGS AND OPERATIONS RESULTS
Atna Resources Ltd. has released unaudited interim financial results for the company's third quarter ended Sept. 30, 2013. Unless otherwise designated, all amounts are in United States dollars. Additional details may be found in the MD&A and financials filed on SEDAR, on EDGAR or on the company's website.
Highlights for third quarter 2013
- Briggs produced $2.2-million in operating cash flow inclusive of working capital adjustments.
- Briggs sold 9,147 ounces of gold, an increase of 35 per cent relative to second quarter 2013.
- Unit production costs at Briggs declined 25 per cent from $17.70 per ton crushed in second quarter 2013 to $13.27 per ton crushed in the third quarter 2013.
- Cash cost of gold sold decreased 13 per cent from $1,131 per ounce to $986 per ounce and all-in sustaining cost decreased 23 per cent from $1,409 per ounce to $1,084 per ounce in the third quarter 2013.
- Atna sustained a net loss of $1.2-million, one cent per basic share, due in large part to interest expense and a realized loss on derivatives.
- As of quarter-end, cash and cash equivalents were $2.8-million.
- Debt decreased by $5.4-million in the third quarter and approximately an additional $1.3-million in October, 2013.
- In September, 2013, the company closed a $5.8-million (Canadian) private placement netting $5.3-million.
- In October, 2013, the company announced a restructuring of its $17.5-million (Canadian) credit facility with Sprott Lending, deferring remaining principal payments into 2014.
- No lost-time or medical-reportable accidents occurred within the company during third quarter 2013.
- Strong gold recovery was demonstrated by column testwork on mixed oxide ores crushed to a minus-two-inch size from the Mag open-pit project, adjacent to the Pinson underground mine.
Highlights for nine months ended Sept. 30, 2013
- Net cash provided by operating activities in the first nine months of 2013 was $6.8-million.
- Briggs produced $11.7-million in operating cash flow, $8.6-million of this being before working capital adjustments.
- Gold production from Pinson and Briggs in the first nine months of 2013 totalled 28,137 ounces.
- Briggs is expected to produce 9,000 to 10,000 ounces in the fourth quarter of 2013.
- Atna generated a pretax loss of $2-million and a net loss of $1.5-million, one cent per basic share, in the first nine months of 2013.
Conference call
Management will host a conference call on Tuesday, Nov. 12, 2013, at 11 a.m. Eastern Time, to discuss these results and general corporate and project activities. Participants in the U.S. and Canada dial 877-559-1977; international callers dial 660-422-4979. Please reference conference ID No. 99412071. A replay of the call will be available through 5 p.m. Eastern Time on Thursday, Nov. 14, 2013, by dialling 855-859-2056 or 404-537-3406, reference conference ID No. 99412071.
For additional information on Atna, its mining, development and exploration projects, please visit its website.
STATEMENTS OF OPERATIONS
Three months ended Nine months ended
Sept. 30, Sept. 30,
2013 2012 2013 2012
Revenues $12,030,500 $14,236,800 $34,336,100 $43,268,800
Cost of sales 10,021,700 10,948,900 30,804,300 31,214,900
General and administrative 1,273,400 1,042,900 3,785,700 3,214,700
Exploration and property maintenance 748,000 783,800 1,260,100 1,203,800
Operating (loss) profit (12,600) 1,461,200 (1,514,000) 7,635,400
Other (expenses), net (1,159,300) (954,700) (514,600) (2,211,700)
Income tax recovery (expense) - 228,300 576,400 (825,700)
Net income (loss) (1,171,900) 734,800 (1,452,200) 4,598,000
Comprehensive income (loss) (1,550,500) 147,200 (923,900) 3,931,900
Basic and diluted income per share (loss) (0.01) 0.01 (0.01) 0.04
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