05:46:32 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Atna Resources Ltd
Symbol ATN
Shares Issued 190,255,809
Close 2014-03-17 C$ 0.195
Market Cap C$ 37,099,883
Recent Sedar Documents

Atna Resources loses $49.61-million (U.S.) in 2013

2014-03-18 07:37 ET - News Release

Mr. James Hesketh reports

ATNA RESOURCES REPORTS FOURTH QUARTER AND 2013 FISCAL YEAR RESULTS

Atna Resources Ltd. has released its audited financial and operating results for the company's year ended Dec. 31, 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 and EDGAR or on the company's website.

Financial highlights for fourth quarter and full year 2013 with subsequent events

  • Atna generated operating cash flows of $8.3-million in 2013, of which $1.5-million was generated in the fourth quarter.
  • A net, aftertax loss of $49.6-million, 32 cents per weighted average share, was recognized in 2013, and included long-term asset impairments at year-end of $33.1-million, a $10.3-million write-off of deferred tax assets, writedowns in inventory values of $2.6-million, and a write-off of loan fees of $1.1-million.
  • The full-year operating loss was $1.5-million prior to impairments and write-offs, $800,000 of which was recognized in the fourth quarter.
  • Year-end impairments of $33.1-million were recognized in relation to the company's Montana mineral rights, exploration properties, Kendall lands and secondary underground development at the Pinson property.
  • As of year-end 2013, cash and cash equivalents were $800,000.
  • On Jan. 31, 2014, the company refinanced $22.0-million of current obligations with a two-year credit facility.

Operating activities

  • Gold sales totalled 36,252 ounces from Briggs and Pinson in 2013 at an average sales price of $1,412 per ounce, relative to 2012 when 36,454 ounces were sold at $1,667 per ounce.
  • Gold sales for the fourth quarter 2013 totalled 8,100 ounces at an average price of $1,310 per ounce.
  • Briggs produced $15.4-million in operating cash flow and $400,000 of income before tax and intercompany allocations in 2013.
  • Fourth quarter 2013 operating cash flow was $3.7-million.
  • The average cash cost per ounce at Briggs was $1,042 in 2013 relative to $985 in 2012. The cash cost per gold ounce sold averaged $977 per ounce in fourth quarter 2013 and all-in sustaining cost was $1,109 per ounce.
  • Briggs mined 11.6 million tons of material in 2013, a 36-per-cent increase relative to the 8.5 million tons mined in 2012.
  • In February, 2014, Briggs concluded a year without any lost-time or medical-reportable accidents.
  • A total of 30,150 tons of ore mined during development at Pinson was shipped for processing. This ore contained 7,915 ounces of gold, from which 6,834 ounces were recovered.
  • A total of 4,100 feet of primary and secondary development was completed at Pinson underground. The primary spiral was driven to the 4530 level from the 4650 adit level (120 feet below the mine portal) and both top cut and underhand ore mining occurred in three Ogee zone stope blocks during development.
  • In third quarter 2013, strong gold recovery was demonstrated by column testwork from the Mag open-pit project, adjacent to the Pinson underground mine.
  • A prefeasibility study for this project is expected to be released in the first half of 2014.
  • The company concluded an updated resource and reserve estimate in February, 2014, for the permitted Reward gold project, increasing measured and indicated gold resources by 7 per cent to 387,900 contained gold ounces.
  • Inferred resources increased 62 per cent to 106,400 ounces.

Conference call

Management will host a conference call on Wednesday, March 19, 2014, 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. 15031965. A replay of the fourth quarter and year-end call will be available through 5 p.m. Eastern Time on Friday, March 21, 2014, by dialling 855-859-2056 or 404-537-3406, reference conference ID No. 15031965.

                                                
                                           FINANCIAL HIGHLIGHTS

                                                     Three months ended                  12 months ended 
                                                               Dec. 31,                         Dec. 31,   
                                                2013               2012             2013            2012
Statements of operations
Revenues                                 $10,699,000        $16,494,500      $45,035,100     $59,763,300
Cost of sales                              7,996,500         10,253,900       33,299,800      35,485,600
Depreciation and amortization,
cost of sales                              2,279,600          2,111,900        7,015,100       8,095,100
Adjust inventory to net
realizable value, cost of sales            1,830,100                           2,595,600
Impairment of non-current assets          33,090,100                          33,090,100
Depreciation -- G&A                           57,600             19,900          173,500          68,700
General and administrative                 1,172,300          1,668,100        4,842,100       4,834,000
Exploration                                  318,100            529,500          703,900       1,733,300
Property maintenance expense                 257,900                           1,132,200
Provision for site restoration 
(loss)                                     (568,600)            392,800        (568,600)         392,800
Other (income) expense, net                1,828,100          (137,500)        2,342,700       2,074,200
Net income before income tax
(loss)                                  (37,562,700)          1,655,900     (39,591,300)       7,079,600
Income tax (expense) recovery           (10,604,700)            632,100     (10,028,300)       (193,600)
Net (loss) income                       (48,167,400)          2,288,000     (49,619,600)       6,886,000
Comprehensive income (loss)                  433,900            206,000          962,200       (460,100)
Basic (loss) income per share                   0.25               0.02           (0.32)            0.05
Diluted (loss) income per share                 0.25               0.02           (0.32)            0.05

We seek Safe Harbor.

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