Duyuru • Nov 30
Athabasca Minerals Inc. Announces Resignation of Donald Paulencu as Chairman and Director of the Board Athabasca Minerals Inc. announced that, effective November 21, 2023, it has accepted the resignation of Donald Paulencu as Chairman and Director of the Board. Mr. Paulencu was appointed to the Board of Directors in 2015 and has served in his role with dedication and commitment to the Corporation. The Corporation will be identifying and evaluating alternatives with respect to the appointment of new independent directors to fill the recent vacancies. Duyuru • Sep 22
JMAC Energy Services LLC entered into a definitive arrangement agreement to acquire remaining 80.3% stake in Athabasca Minerals Inc. (TSXV:AMI) for CAD 11.5 million. JMAC Energy Services LLC entered into a definitive arrangement agreement to acquire remaining 80.3% stake in Athabasca Minerals Inc. (TSXV:AMI) for CAD 11.5 million on September 21, 2023. JMAC will acquire all of the issued and outstanding common shares of Athabasca, other than Athabasca Shares already owned or controlled by JMAC, or persons or entities related to JMAC for cash consideration of CAD 0.145 per Athabasca Share. The purchase price is not subject to any financing conditions. Upon closing of the transaction, the Athabasca Shares will be de-listed from the TSXV.
The transaction is subject to approval of Athabasca shareholders, receipt of court approval and certain regulatory approvals. Athabasca board of directors unanimously approved the transaction. Canaccord Genuity Corp. is acting as financial advisor to Athabasca. Evans & Evans, Inc. acted as fairness opinion provider to the special committee of Athabasca. Reported Earnings • Aug 25
Second quarter 2023 earnings released: CA$0.01 loss per share (vs CA$0.069 loss in 2Q 2022) Second quarter 2023 results: CA$0.01 loss per share (improved from CA$0.069 loss in 2Q 2022). Revenue: CA$14.1m (up 92% from 2Q 2022). Net loss: CA$794.0k (loss narrowed 85% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Duyuru • Jul 15
Athabasca Minerals Inc., Annual General Meeting, Sep 21, 2023 Athabasca Minerals Inc., Annual General Meeting, Sep 21, 2023. New Risk • Jun 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$2.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.6m free cash flow). Market cap is less than US$10m (CA$7.86m market cap, or US$5.89m). Reported Earnings • May 21
Full year 2022 earnings released: EPS: CA$0.16 (vs CA$0.032 loss in FY 2021) Full year 2022 results: EPS: CA$0.16 (up from CA$0.032 loss in FY 2021). Revenue: CA$34.2m (up 190% from FY 2021). Net income: CA$12.2m (up CA$14.4m from FY 2021). Profit margin: 36% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Duyuru • May 13
Athabasca Minerals Inc. to Report Fiscal Year 2022 Results on May 19, 2023 Athabasca Minerals Inc. announced that they will report fiscal year 2022 results at 4:00 PM, US Eastern Standard Time on May 19, 2023 Duyuru • Feb 18
Athabasca Minerals Inc. Announces Resignation of Terrance Kutryk as A Director of the Corporation Athabasca Minerals Inc. announces that Terrance Kutryk has resigned as a director of the Corporation. Mr. Kutryk has served as a director for Athabasca Minerals Inc. since September 2019 and has provided valuable guidance and leadership throughout his tenure. The Board will be evaluating alternatives with respect to appointing a new independent director to fill the vacancy. Reported Earnings • Nov 24
Third quarter 2022 earnings released: CA$0.008 loss per share (vs CA$0.005 loss in 3Q 2021) Third quarter 2022 results: CA$0.008 loss per share (further deteriorated from CA$0.005 loss in 3Q 2021). Revenue: CA$11.5m (up 166% from 3Q 2021). Net loss: CA$2.15m (loss widened 495% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Duyuru • Aug 31
Athabasca Minerals Inc. Appoints Dana Archibald as Permanent Chief Executive Officer Athabasca Minerals Inc. announced that its Board of Directors has appointed Dana Archibald as the Corporation's permanent Chief Executive Officer, effective August 29, 2022. Mr. Archibald was appointed as Interim Chief Executive Officer of the Corporation as per the details in the June 23, 2022 press release. The Board's decision was based on Mr. Archibald's history of leading operations for the Corporation's key divisions, AMI Silica and AMI Aggregates, as well as his commitment to drive a sustainable growth strategy for the Corporation. Reported Earnings • Aug 27
Second quarter 2022 earnings released: CA$0.069 loss per share (vs CA$0.009 loss in 2Q 2021) Second quarter 2022 results: CA$0.069 loss per share (down from CA$0.009 loss in 2Q 2021). Revenue: CA$7.33m (up 126% from 2Q 2021). Net loss: CA$5.38m (loss widened CA$4.80m from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Duyuru • Jun 25
Athabasca Minerals Inc. Announces Executive Changes Athabasca Minerals Inc. announced that Robert Beekhuizen has provided notice of his resignation as Chief Executive Officer and Director of the Corporation, effective immediately. Dana Archibald, Chief Operating Officer, has been appointed as interim Chief Executive Officer while the Board of Directors assesses a permanent successor. Dana Archibald has served as AMI's Chief Operating Officer since January 2019, and was recently announced as the President of the Corporation's AMI Silica division. Mr. Archibald has been instrumental in the acquisition and integration of the U.S. sand facility as well as the development of the Corporation's resources in the Duvernayand Montney regions. In addition, Mr. Archibald has also led the Corporation's Indigenous relations portfolio, successfully developing strong and impactful partnerships with multiple Indigenous groups. Given his experience, and his strong team leadership the Board is confident in his abilities to lead AMI through this transition. Duyuru • Jun 23
Athabasca Minerals Inc. Announces Resignation of Robert Beekhuizen as Director Athabasca Minerals Inc. at its AGM held on June 21, 2022 announced that Robert Beekhuizen received more 'withheld' votes than votes 'for', Mr. Beekhuizen has indicated his intention to tender his resignation as a director to the Board. Reported Earnings • May 28
First quarter 2022 earnings released First quarter 2022 results: Revenue: CA$6.98m (up CA$5.89m from 1Q 2021). Net income: CA$22.6m (up CA$23.2m from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Duyuru • May 17
Athabasca Minerals Inc. Appoints David Churchill as Chief Financial Officer Athabasca Minerals Inc. announced the appointment of David Churchill as Chief Financial Officer. Mr. David Churchill, CPA, CA, ICD.D is a senior financial &accounting executive and joins Athabasca with more than 30 years experience spanning multiple sectors, including oil &gas services, manufacturing &construction, maintenance & environmental services, and public practice. Mr. Churchill was formerly the CFO for CEDA and Tarpon Energy Services respectively, Vice-President Financial Operations & Corporate Secretary for Anthem Properties Group, and senior manager at KPMG. Reported Earnings • Apr 29
Full year 2021 earnings released: CA$0.032 loss per share (vs CA$0.071 loss in FY 2020) Full year 2021 results: CA$0.032 loss per share (up from CA$0.071 loss in FY 2020). Revenue: CA$11.8m (up CA$9.85m from FY 2020). Net loss: CA$2.19m (loss narrowed 38% from FY 2020). Over the next year, revenue is forecast to grow 46%, compared to a 21% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to CA$0.65 Down from CA$0.80, the current price target is provided by 1 analyst. New target price is 106% above last closing price of CA$0.32. Stock is up 21% over the past year. The company posted a net loss per share of CA$0.071 last year. Duyuru • Apr 09
Athabasca Minerals Inc., Annual General Meeting, Jun 21, 2022 Athabasca Minerals Inc., Annual General Meeting, Jun 21, 2022. Duyuru • Jan 18
Athabasca Minerals Inc. announced that it expects to receive CAD 0.033 million in funding from McKay Métis Group Ltd. Athabasca Minerals Inc. announced a non-brokered private placement of 100,000 common shares at a price of CAD 0.33 per share for gross proceeds of CAD 33,000 on January 17, 2022. The transaction will include participation from new investor, McKay Métis Group Ltd. All securities issued in connection with the private placement will be subject to a statutory four-month and one-day hold period under applicable Canadian securities laws. The transaction remains subject to receipt of all necessary regulatory and other approvals, including the final approval of the TSX Venture Exchange.
On January 18, 2022, TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction will include participation from one placee. Reported Earnings • Dec 03
Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint Third quarter 2021 results: CA$0.005 loss per share (up from CA$0.023 loss in 3Q 2020). Revenue: CA$4.31m (up CA$3.89m from 3Q 2020). Net loss: CA$361.8k (loss narrowed 68% from 3Q 2020). Revenue missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 76%, compared to a 24% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Dec 02
Price target decreased to CA$0.65 Down from CA$0.75, the current price target is provided by 1 analyst. New target price is 165% above last closing price of CA$0.24. Stock is up 88% over the past year. The company posted a net loss per share of CA$0.071 last year. Reported Earnings • Aug 27
Second quarter 2021 earnings released: CA$0.009 loss per share (vs CA$0.014 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: CA$3.24m (up CA$3.00m from 2Q 2020). Net loss: CA$579.7k (loss narrowed 14% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Board Change • Jul 31
High number of new directors Independent Director Jon McCreary was the last director to join the board, commencing their role in 2020. Reported Earnings • May 21
First quarter 2021 earnings released The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: CA$1.10m (up 44% from 1Q 2020). Net loss: CA$601.9k (loss narrowed 26% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 24
Full year 2020 earnings released The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: CA$1.95m (down 25% from FY 2019). Net loss: CA$3.53m (loss widened 30% from FY 2019). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. Is New 90 Day High Low • Feb 06
New 90-day high: CA$0.30 The company is up 150% from its price of CA$0.12 on 06 November 2020. The Canadian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 64% over the same period.