VANCOUVER, British Columbia, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the "Company") (TSX:III) reports financial results for the three and nine months ended September 30, 2021, as summarized in this release and discussed in detail in the Management's Discussion & Analysis. The Company's financial results are prepared in accordance with International Financial Reporting Standards ("IFRS"). The reporting currency of the Company is the Canadian ("CDN") Dollar.
QUARTER HIGHLIGHTS
FINANCIAL
Total revenue decreased to $37.1 million in the September 2021 quarter compared to $38.2 million in the 2020 comparative quarter, a decrease of $1.1 million.
In the September 2021 quarter, the Red Chris mine (100% basis) had 4.0 concentrate shipments (2020-4.3 concentrate shipments). Variations in revenue are impacted by the timing and quantity of concentrate shipments, metal prices and exchange rates, and period end revaluations of revenue attributed to concentrate shipments where copper and gold prices will settle at a future date.
The London Metals Exchange cash settlement copper price per pound averaged US$4.25 in the September 2021 quarter compared to US$2.96 in the 2020 comparative quarter. London Bullion Market Association, London gold price per troy ounce averaged US$1,789 in the September 2021 quarter compared to US$1,911 in the 2020 comparative quarter. The average US/CDN Dollar exchange rate was 1.260 in the September 2021 quarter, 5.4% lower than the exchange rate of 1.332 in the 2020 comparative quarter. In CDN Dollar terms the average copper price in the September 2021 quarter was CDN$5.36 per pound compared to CDN$3.94 per pound in the 2020 comparative quarter, and the average gold price in the September 2021 quarter was CDN$2,254 per ounce compared to CDN$2,545 per ounce in the 2020 comparative quarter.
Revenue in the September 2021 quarter decreased by $0.8 million due to a negative revenue revaluation as compared to a $3.3 million positive revenue revaluation in the 2020 comparative quarter. Revenue revaluations are the result of the metal price on the settlement date and/or the current period balance sheet date being higher or lower than when the revenue was initially recorded or the metal price at the last balance sheet date and finalization of contained metal as a result of final assays.
Net loss for the September 2021 quarter was $3.8 million ($0.03 per share) compared to net income of $7.1 million ($0.05 per share) in the 2020 comparative quarter. The decrease in net income of $10.9 million was primarily due to the following factors:
- Income from mine operations went from $12.8 million in September 2020 to $4.9 million in September 2021, decreasing net income by $7.9 million.
- General and Administration expense went from $0.8 million in September 2020 to $1.3 million in September 2021, decreasing net income by $0.5 million.
- Foreign exchange gain/loss went from a loss of $1.1 million in September 2020 to a gain of $0.3 million in September 2021, increasing net income by $1.4 million.
Cash flow was $7.8 million in the September 2021 quarter compared to $17.4 million in the 2020 comparative quarter. Cash flow is a measure used by the Company to evaluate its performance however, it is not a term recognized under IFRS. The Company believes cash flow is useful to investors and it is one of the measures used by management to assess the financial performance of the Company.
Capital expenditures including finance leases were $33.8 million in the September 2021 quarter, an increase from $25.4 million in the 2020 comparative quarter. The September 2021 expenditures included $12.8 million in exploration, $9.9 million for tailings dam construction and $11.1 million on stripping costs and other capital.
At September 30, 2021, the Company had not hedged any copper, gold or US/CDN Dollar exchange. Quarterly revenues will fluctuate depending on copper and gold prices, the US/CDN Dollar exchange rate, and the timing of concentrate sales, which is dependent on concentrate production and the availability and scheduling of transportation.
OPERATIONS
The current impact of the COVID-19 pandemic on our business is described under Significant Events and Liquidity. The Company's plans for 2021 and beyond could be adversely impacted by the effects of the COVID-19 pandemic. The continuing impact of COVID-19 to travel and other operating restrictions established to curb the spread of COVID-19, could materially and adversely impact the Company's current plans by causing a temporary closure of the Red Chris mine, suspending planned exploration work, causing an economic slowdown resulting in a decrease in the demand for copper and gold, negatively impacting copper and gold prices, impacting the Company's ability to transport or market the Company's concentrate or causing disruptions in the Company's supply chains.
Red Chris Mine
Metal production for the third quarter of 2021 was 17.2 million pounds copper and 15,249 ounces gold, compared to 22.2 million pounds copper and 18,052 ounces gold produced in the 2020 third quarter.
Imperial's 30% portion of Red Chris mine third quarter production was 5.2 million pounds copper and 4,575 ounces gold.
| Three Months Ended September 30* | | Nine Months Ended September 30* |
| 2021 | 2020 | | 2021 | 2020 |
Ore milled - tonnes | 2,543,495 | 2,777,245 | | 7,199,572 | 7,196,524 |
Ore milled per calendar day - tonnes | 27,647 | 30,187 | | 26,372 | 26,265 |
Grade % - copper | 0.389 | 0.460 | | 0.407 | 0.553 |
Grade g/t - gold | 0.336 | 0.398 | | 0.365 | 0.462 |
Recovery % - copper | 79.0 | 78.8 | | 78.5 | 81.0 |
Recovery % - gold | 55.6 | 50.8 | | 55.1 | 53.9 |
Copper – 000's pounds | 17,244 | 22,203 | | 50,704 | 71,112 |
Gold – ounces | 15,249 | 18,052 | | 46,550 | 57,536 |
* 100% Red Chris mine production
Metal production for both the three and nine months ended September 30, 2021, decreased compared to the same periods in 2020. The decrease in metal production is largely due to lower metal grades, with copper grade 15.4 % lower and gold grade 15.6% lower compared to September 2020 quarter.
The copper and gold production levels (100% basis) in the September 2021 quarter were close to those in the June 2021 quarter, 17.2 million pounds of copper and 15,249 ounces of gold were produced in the September 2021 quarter compared to production of 17.6 million pounds of copper and 15,451 ounces of gold in the June 2021 quarter, with slightly lower gold and copper grades, being offset by higher through-put in the September 2021 quarter.
The results of the recently released Red Chris Block Cave Pre-Feasibility Study (PFS), have confirmed Imperial's long held belief that Red Chris had the potential to become a long-life, low-cost block cave copper gold mine. The exploration decline for the proposed block cave development had progressed to 393 metres by October 20, 2021.
There are significant opportunities to enhance the results of the PFS including the 'early mining' of the highest-grade pods in the East Zone and the emerging opportunity associated with the discovery of new distinct higher-grade zones of mineralization such as East Ridge.
Drilling at the newly discovered East Ridge continues to expand the extent of mineralization in this zone and has demonstrated continuity of the copper gold mineralization over dimensions of about 400 metres high, 400 metres long and 125 metres wide. Contained within this zone of mineralization is a higher-grade portion with dimensions of approximately 300 metres high, 300 metres long and 100 metres wide. East Ridge remains open to the east and at depth. During the third quarter, there were up to eight diamond drill rigs in operation. A further 29,388 metres of drilling was completed in 24 drill holes, with all drill holes intersecting mineralization (except twelve drill holes which were dedicated geotechnical holes).
Jim Miller-Tait, P.Geo., Imperial Metals Vice President Exploration, is the designated Qualified Person as defined by National Instrument 43-101 for the Red Chris exploration program and has reviewed this information.
Imperial's 30% share of exploration, development, and capital expenditures were $28.2 million in the September 2021 quarter compared to $26.3 million in the 2020 comparative quarter.
Mount Polley Mine
Mount Polley operations ceased in May 2019 and the mine remains on care and maintenance status. The mine restart plan prepared in 2019, is being updated to include revised pit designs, results of recent drilling and current metal prices. The Company is actively seeking to secure financing to fund the restart of the mine. The COVID-19 pandemic continues to impact the mine restart timeline.
Site personnel continue to maintain access, fire watch, manage collection, treatment and discharge of site contact water and actively monitor the tailings storage facility. In addition, work to facilitate the restart of operations at Mount Polley continued during the quarter. This work included:
- a small crew of mechanics continuing to prepare the mining fleet;
- testing blasthole drills by starting a blasthole pattern on the 1120 metres bench in the Springer Pit Phase 4 pit; and
- hiring mechanical and electrical contractors to inspect and repair as required, equipment in the crusher and concentrator.
For the September 2021 quarter, Mount Polley incurred idle mine costs comprised of $5.8 million in operating costs and $0.6 million in depreciation expense.
Exploration, development, and capital expenditures in the September 2021 quarter were $1.3 million compared to $0.2 million in the 2020 comparative quarter.
Huckleberry Mine
Huckleberry operations ceased in August 2016 and the mine remains on care and maintenance status. The Company anticipates the restart of Huckleberry will follow the start of operations at Mount Polley.
Site personnel continue to focus on maintaining access, water management (treatment and release of mine contact water into Tahtsa Reach), snow removal, maintenance of site infrastructure and equipment, mine permit compliance, environmental compliance monitoring and monitoring tailings management facilities.
A geotechnical drilling program was conducted during the quarter to gather the information required to update the tailings facility designs for future operations and to provide information required for dam safety reviews.
For the September 2021 quarter, Huckleberry incurred idle mine costs comprised of $1.2 million in operating costs and $0.2 million in depreciation expense.
Exploration, development, and capital expenditures in the September 2021 quarter were $1.8 million compared to $0.5 million in the 2020 comparative quarter.
EARNINGS AND CASH FLOW
Select Quarter Financial Information
expressed in thousands of dollars, except share and per share amounts
| Three Months Ended | Nine Months Ended |
September 30 | September 30 |
| 2021 | | | 2020 | | 2021 | | | 2020 |
Operations: | | | | |
Total revenues | $ | 37,064 | | $ | 38,161 | $ | 104,329 | | $ | 111,182 |
Net income (loss) | $ | (3,772 | ) | $ | 7,063 | $ | (11,389 | ) | $ | 24 |
Net income (loss) per share | $ | (0.03 | ) | $ | 0.05 | $ | (0.09 | ) | $ | 0.00 |
Diluted income (loss) per share | $ | (0.03 | ) | $ | 0.05 | $ | (0.09 | ) | $ | 0.00 |
Adjusted net income (loss) (1) | $ | (3,489 | ) | $ | 7,015 | $ | (11,165 | ) | $ | 132 |
Adjusted net income (loss) per share (1) | $ | (0.02 | ) | $ | 0.05 | $ | (0.08 | ) | $ | 0.00 |
Adjusted EBITDA (1) | $ | 8,136 | | $ | 17,243 | $ | 19,050 | | $ | 36,001 |
Cash flow (1)(2) | $ | 7,780 | | $ | 17,412 | $ | 18,408 | | $ | 35,937 |
Cash flow per share (1)(2) | $ | 0.06 | | $ | 0.14 | $ | 0.14 | | $ | 0.28 |
Working Capital | $ | 21,950 | | $ | 27,082 | $ | 21,950 | | $ | 27,082 |
Total assets | $ | 1,122,484 | | $ | 1,092,134 | $ | 1,122,484 | | $ | 1,092,134 |
Total debt (including current portion) (3) | $ | 4,850 | | $ | 2,847 | $ | 4,850 | | $ | 2,847 |
(1) | Refer to Non-IFRS Financial Measures for further details. |
(2) | Cash flow is defined as the cash flow from operations before the net change in non-cash working capital balances, income and mining taxes, and interest paid. Cash flow per share is defined as cash flow divided by the weighted average number of common shares outstanding during the year.
|
(3) | Total debt consists mainly of equipment leases. |
Select Items Affecting Net Income (Loss) (presented on an after-tax basis)
| Three Months Ended | | Nine Months Ended | |
| September 30 | | September 30 | |
expressed in thousands of dollars | | 2021 | | | 2020 | | | 2021 | | | 2020 | |
Net income (loss) before undernoted items | $ | (3,348 | ) | $ | 7,253 | | $ | (10,492 | ) | $ | 935 | |
Interest expense | | (141 | ) | | (238 | ) | | (673 | ) | | (803 | ) |
Foreign exchange gain (loss) on debt | | (283 | ) | | 48 | | | (224 | ) | | (108 | ) |
Net Income (Loss) | $ | (3,772 | ) | $ | 7,063 | | $ | (11,389 | ) | $ | 24 | |
NON-IFRS FINANCIAL MEASURES
The Company reports four non-IFRS financial measures: adjusted net income, adjusted EBITDA, cash flow and cash cost per pound of copper produced which are described in detail below. The Company believes these measures are useful to investors because they are included in the measures that are used by management in assessing the financial performance of the Company.
Adjusted net income, adjusted EBITDA, and cash flow are not generally accepted earnings measures and should not be considered as an alternative to net income (loss) and cash flows as determined in accordance with IFRS. As there is no standardized method of calculating these measures, these measures may not be directly comparable to similarly titled measures used by other companies.
Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Share
Adjusted net loss in the September 2021 quarter was $3.5 million ($0.02 per share) compared to an adjusted net income of $7.0 million ($0.05 per share) in the 2020 comparative quarter. Adjusted net income (loss) shows the financial results excluding the effect of items not settling in the current period and non-recurring items. Adjusted net income (loss) is calculated by removing the gains or loss, resulting from acquisition and disposal of property, mark to market revaluation of derivative instruments not related to the current period, net of tax, unrealized foreign exchange gains or losses on non-current debt, net of tax.
Adjusted EBITDA
Adjusted EBITDA in the September 2021 quarter was $8.1 million compared to $17.2 million in the 2020 comparative quarter. We define Adjusted EBITDA as net income (loss) before interest expense, taxes, depletion, and depreciation, and as adjusted for certain other items.
Cash Flow and Cash Flow Per Share
Cash flow in the September 2021 quarter was $7.8 million compared to $17.4 million in the 2020 comparative quarter. Cash flow per share was $0.06 in the September 2021 quarter compared to $0.14 in the 2020 comparative quarter.
Cash flow and cash flow per share are measures used by the Company to evaluate its performance however they are not terms recognized under IFRS. Cash flow is defined as cash flow from operations before the net change in non-cash working capital balances, income and mining taxes paid, and interest paid. Cash flow per share is the same measure divided by the weighted average number of common shares outstanding during the year.
Cash Cost Per Pound of Copper Produced
Company is primarily a copper producer and therefore calculates this non-IFRS financial measure individually for its three copper mines, Red Chris (30% share), Mount Polley and Huckleberry, and on a composite basis for these mines.
Variations from period to period in the cash cost per pound of copper produced are the result of many factors including: grade, metal recoveries, amount of stripping charged to operations, mine and mill operating conditions, labour and other cost inputs, transportation and warehousing costs, treatment and refining costs, the amount of by-product and other revenues, the US$ to CDN$ exchange rate and the amount of copper produced.
Idle mine costs during the periods when the Huckleberry and Mount Polley mines were not in operation have been excluded from the cash cost per pound of copper produced.
Calculation of Cash Cost Per Pound of Copper Produced
expressed in thousands of dollars, except cash cost per pound of copper produced
| Three Months Ended September 30 | Nine Months Ended September 30 |
| 2021 | | 2020 | | 2021 | | 2020 |
Cash cost of copper produced in US$ | $ | 10,007 | $ | 9,471 | $ | 35,332 | $ | 27,417 |
Copper produced – pounds | | 5,173 | | 6,661 | | 15,210 | | 21,333 |
Cash cost per lb copper produced in US$ | $ | 1.93 | $ | 1.42 | $ | 2.32 | $ | 1.29 |
For detailed information, refer to Imperial's 2021 Third Quarter Report available on imperialmetals.com and sedar.com
About Imperial
Imperial is a Vancouver based exploration, mine development and operating company. The Company, through its subsidiaries, owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry copper mines in British Columbia. Imperial also holds 100% interest in the Ruddock Creek lead/zinc property.
Company Contacts
Brian Kynoch | President | 604.669.8959
Darb Dhillon | Chief Financial Officer | 604.669.8959
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this news release are not statements of historical fact and are "forward-looking" statements. Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to, statements regarding the Company's expectations with respect to the impact of COVID-19 on the Company's business and operations; metal pricing and its impact on revaluations of revenue; the fluctuation of quarterly revenues; expectations regarding the potential cost and length of life mine of Red Chris; the progression of the exploration decline for the proposed block cave development; expectations and timing regarding current and future exploration and drilling programs; the potential significant opportunities to enhance the results of the PFS including the early mining of highest-grade pods in the East Zone and the discovery of new distinct higher grade zones of mineralization; the potential to define further zones of higher-grade mineralization in the East Ridge; the focus of site personnel on care, maintenance and rehabilitation activities at Mount Polley and Huckleberry; updates to the mine restart plans prepared for Mount Polley; expectations regarding Mount Polley and Huckleberry restart timelines; the Company's ability to secure financing to fund the restart of Mount Polley; and the usefulness and comparability of certain non-IFRS financial measures.
In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "outlook", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include, the risk factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended, many of which are beyond the Company's ability to control or predict. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and all forward-looking statements in this news release are qualified by these cautionary statements.
不列颠哥伦比亚省温哥华,2021年11月9日(GLOBE NEWSWIRE)——帝国金属公司(“公司”)(多伦多证券交易所:III)公布了截至2021年9月30日的三个月和九个月的财务业绩,本新闻稿对此进行了总结,并在管理层的讨论与分析中进行了详细讨论。公司的财务业绩是根据国际财务报告准则(“IFRS”)编制的。该公司的报告货币为加元(“加元”)。
季度亮点
金融的
与2020年同期的3,820万美元相比,2021年9月季度的总收入下降至3,710万美元,减少了110万美元。
在 2021 年 9 月的季度中,红克里斯矿(以 100% 为基准)的精矿出货量为 4.0(2020-4.3 年的精矿出货量)。收入的变化受精矿装运的时间和数量、金属价格和汇率以及期末归因于精矿出货的收入重估的影响,其中铜和金价格将在未来某个日期结算。
伦敦金属交易所现金结算铜价在2021年9月季度平均为4.25美元,而2020年比较季度的每磅铜价为2.96美元。伦敦金银市场协会,2021年9月季度每金衡盎司的伦敦黄金价格平均为1,789美元,而2020年比较季度的伦敦金价为1,911美元。2021年9月季度的美元平均汇率为1.260,比2020年比较季度的1.332汇率低5.4%。以加元美元计算,2021年9月季度的平均铜价为每磅5.36加元,而2020年比较季度的平均铜价为每磅3.94加元;2021年9月季度的平均黄金价格为每盎司2,254加元,而2020年比较季度的平均黄金价格为每盎司2545加元。
由于收入重估为负,2021年9月季度的收入减少了80万美元,而2020年对比季度的正收入重估为330万美元。收入重估是结算日和/或本期资产负债表日的金属价格高于或低于最初记录收入时或最后一个资产负债表日的金属价格以及最终分析结果中包含金属的最终分析结果的结果。
2021年9月季度的净亏损为380万美元(每股亏损0.03美元),而2020年比较季度的净收入为710万美元(每股亏损0.05美元)。净收入减少1,090万美元主要是由于以下因素:
- 矿山运营收入从2020年9月的1,280万美元增加到2021年9月的490万美元,净收入减少了790万美元。
- 一般和管理费用从2020年9月的80万美元增加到2021年9月的130万美元,净收入减少了50万美元。
- 外汇损益从2020年9月的亏损110万美元变为2021年9月的30万美元收益,净收入增加了140万美元。
2021年9月季度的现金流为780万美元,而2020年同期的现金流为1,740万美元。现金流是公司用来评估其业绩的衡量标准,但是,它不是《国际财务报告准则》承认的术语。公司认为,现金流对投资者有用,也是管理层用来评估公司财务业绩的衡量标准之一。
包括融资租赁在内的资本支出在2021年9月的季度为3,380万美元,高于2020年同期的2540万美元。2021年9月的支出包括1,280万美元的勘探费、990万美元的尾矿大坝建设以及1,110万美元的剥离成本和其他资本。
截至2021年9月30日,该公司尚未对任何铜、黄金或美国加元美元交易所进行套期保值。季度收入将根据铜和黄金价格、美元/加元汇率以及精矿销售时间而波动,后者取决于精矿产量以及运输的可用性和日程安排。
运营
在 “重大事件和流动性” 下描述了 COVID-19 疫情当前对我们业务的影响。公司 2021 年及以后的计划可能会受到 COVID-19 疫情影响的不利影响。COVID-19 对为遏制 COVID-19 传播而设立的旅行和其他运营限制措施的持续影响,可能会对公司目前的计划产生重大和不利影响,包括暂时关闭红克里斯矿、暂停计划中的勘探工作、导致经济放缓导致铜和黄金需求减少、对铜和黄金价格产生负面影响、影响公司运输或销售公司精矿的能力或造成公司供应链中断。
红色的克里斯·米恩
2021年第三季度的金属产量为1,720万磅铜和15,249盎司的黄金,而2020年第三季度的铜产量为2,220万磅和18,052盎司的黄金。
帝国银行第三季度红克里斯矿产量的30%份额为520万磅铜和4575盎司黄金。
| 三个月已结束 9 月 30 日* | | 九个月已结束 9 月 30 日* |
| 2021 | 2020 | | 2021 | 2020 |
磨矿石- 吨 | 2,543,495 | 2,777,245 | | 7,199,572 | 7,196,524 |
每个日历日研磨的矿石- 吨 | 27,647 | 30,187 | | 26,372 | 26,265 |
等级%-铜 | 0.389 | 0.460 | | 0.407 | 0.553 |
等级 g/t-金色 | 0.336 | 0.398 | | 0.365 | 0.462 |
回收率%-铜 | 79.0 | 78.8 | | 78.5 | 81.0 |
回收率%-黄金 | 55.6 | 50.8 | | 55.1 | 53.9 |
铜 — 000 英镑 | 17,244 | 22,203 | | 50,704 | 71,112 |
黄金 — 盎司 | 15,249 | 18,052 | | 46,550 | 57,536 |
* 100% Red Chris 矿山产量
截至2021年9月30日的三个月和九个月中,金属产量均与2020年同期相比有所下降。金属产量下降主要是由于金属品位降低,与2020年9月的季度相比,铜品位下降了15.4%,金品位下降了15.6%。
2021年9月季度的铜和黄金产量水平(基准为100%)接近2021年6月季度的水平,2021年9月季度的铜产量为1,720万磅和15,249盎司黄金,而2021年6月季度的铜产量为1,760万磅和15,451盎司黄金,金和铜品位略低,但被2021年9月季度的更高吞吐量所抵消。
最近发布的Red Chris Block Cave预可行性研究(PFS)的结果证实了帝国银行长期以来的信念,即Red Chris有可能成为寿命长、低成本的区块洞穴铜金矿。到2021年10月20日,拟议的区块洞穴开发的勘探下降幅度已扩大到393米。
提高PFS结果的重大机遇包括 “早期开采” 东区最高品位的矿舱,以及与发现新的独特的高品位矿化带(例如东岭)相关的新兴机会。
在新发现的东岭钻探继续扩大该区域的矿化范围,并证明了铜金矿化的连续性,高约400米,长400米,宽125米。该矿化区内包含更高品位的部分,高度约为300米,长约300米,宽100米。东岭仍然向东和向深处开放。在第三季度,多达八台金刚石钻机投入运营。在24个钻孔中又完成了29,388米的钻探,所有钻孔都与矿化区相交(十二个钻孔除外,它们是专门的岩土工程孔)。
帝国金属勘探副总裁Jim Miller-Tait,P.Geo.,根据国家仪器43-101的定义,他是Red Chris勘探计划的指定合格人员,他已经审查了这些信息。
2021年9月季度,帝国在勘探、开发和资本支出中的30%份额为2,820万美元,而2020年同期为2630万美元。
波利山矿
波利山的运营于 2019 年 5 月停止,该矿仍处于维护和维护状态。2019年制定的矿山重启计划正在更新,以包括修订后的矿坑设计、最近的钻探结果和当前的金属价格。该公司正在积极寻求融资,为矿山的重启提供资金。COVID-19 疫情继续影响矿山的重启时间表。
现场人员继续保持通道,进行消防监视,管理现场接触水的收集、处理和排放,并积极监测尾矿储存设施。此外,促进波利山重启运营的工作在本季度仍在继续。这项工作包括:
- 一小部分机械师继续为采矿船队做准备;
- 通过在 Springer Pit 第 4 阶段矿坑的 1120 米长台上启动爆破孔模式来测试爆破孔钻机;以及
- 雇用机械和电气承包商根据需要检查和维修破碎机和浓缩机中的设备。
在2021年9月的季度中,波利山产生的闲置矿山成本包括580万美元的运营成本和60万美元的折旧费用。
2021年9月季度的勘探、开发和资本支出为130万美元,而2020年同期为20万美元。
哈克贝利矿
哈克贝利于2016年8月停止运营,该矿仍处于保养和维护状态。该公司预计,哈克贝利将在波利山开始运营后重启哈克贝利。
现场人员继续将重点放在维护通道、水资源管理(处理矿井接触水并将其释放到塔赫塔斯河区)、除雪、维护场地基础设施和设备、遵守采矿许可证、监测环境合规性以及监测尾矿管理设施。
本季度开展了一项岩土工程钻探计划,以收集更新尾矿设施设计以供未来运营所需的信息,并提供大坝安全审查所需的信息。
在2021年9月的季度中,哈克贝利承担了闲置矿山成本,包括120万美元的运营成本和20万美元的折旧费用。
2021年9月季度的勘探、开发和资本支出为180万美元,而2020年同期为50万美元。
收益和现金流
选择季度财务信息
以千美元表示, 股票和每股金额除外
| 三个月已结束 | 九个月已结束 |
9 月 30 日 | 9 月 30 日 |
| 2021 | | | 2020 | | 2021 | | | 2020 |
操作: | | | | |
总收入 | $ | 37,064 | | $ | 38,161 | $ | 104,329 | | $ | 111,182 |
净收益(亏损) | $ | (3,772) | ) | $ | 7,063 | $ | (11,389) | ) | $ | 24 |
每股净收益(亏损) | $ | (0.03 | ) | $ | 0.05 | $ | (0.09 | ) | $ | 0.00 |
摊薄后每股收益(亏损) | $ | (0.03) | ) | $ | 0.05 | $ | (0.09 | ) | $ | 0.00 |
调整后净收益(亏损) (1) | $ | (3,489 | ) | $ | 7,015 | $ | (11,165 | ) | $ | 132 |
调整后的每股净收益(亏损) (1) | $ | (0.02) | ) | $ | 0.05 | $ | (0.08) | ) | $ | 0.00 |
调整后 EBITDA (1) | $ | 8,136 | | $ | 17,243 | $ | 19,050 | | $ | 36,001 |
现金流 (1) (2) | $ | 7,780 | | $ | 17,412 | $ | 18,408 | | $ | 35,937 |
每股现金流 (1) (2) | $ | 0.06 | | $ | 0.14 | $ | 0.14 | | $ | 0.28 |
营运资金 | $ | 21,950 | | $ | 27,082 | $ | 21,950 | | $ | 27,082 |
总资产 | $ | 1,122,484 | | $ | 1,092,134 | $ | 1,122,484 | | $ | 1,092,134 |
总债务(包括流动部分) (3) | $ | 4,850 | | $ | 2847 | $ | 4,850 | | $ | 2847 |
(1) | 请参阅 非国际财务报告准则财务指标 了解更多详情。 |
(2) | 现金流定义为在非现金营运资本余额、所得税和矿业税以及已付利息净变动之前的运营现金流。每股现金流定义为现金流除以年度内已发行普通股的加权平均数。
|
(3)) | 债务总额主要包括设备租赁。 |
选择影响净收益(亏损)的项目(按税后列报)
| 三个月已结束 | | 九个月已结束 | |
| 9 月 30 日 | | 9 月 30 日 | |
以千美元表示 | | 2021 | | | 2020 | | | 2021 | | | 2020 | |
扣除下述项目的净收益(亏损) | $ | (3,348 | ) | $ | 7,253 | | $ | (10,492) | ) | $ | 935 | |
利息支出 | | (141 | ) | | (238) | ) | | (673) | ) | | (803 | ) |
债务的外汇收益(亏损) | | (283 | ) | | 48 | | | (224 | ) | | (108 | ) |
净收益(亏损) | $ | (3,772) | ) | $ | 7,063 | | $ | (11,389) | ) | $ | 24 | |
非国际财务报告准则财务指标
该公司报告了四项非国际财务报告准则财务指标:调整后的净收益、调整后的息税折旧摊销前利润、现金流和每磅铜生产的现金成本,详情如下。公司认为,这些指标对投资者很有用,因为它们包含在管理层评估公司财务业绩时使用的衡量标准中。
调整后的净收益、调整后的息税折旧摊销前利润和现金流不是普遍接受的收益衡量标准,不应被视为根据国际财务报告准则确定的净收益(亏损)和现金流的替代方案。由于没有计算这些衡量标准的标准方法,因此这些衡量标准可能无法与其他公司使用的类似标题的衡量标准直接比较。
调整后每股净收益(亏损)和调整后净收益(亏损)
2021年9月季度的调整后净亏损为350万美元(每股亏损0.02美元),而2020年比较季度的调整后净收益为700万美元(每股0.05美元)。调整后的净收益(亏损)显示财务业绩,不包括本期未结算项目和非经常性项目的影响。调整后的净收益(亏损)的计算方法是,扣除因收购和处置财产而产生的收益或损失,与本期无关的衍生工具的市场重估,扣除税款,未实现的外汇收益或非流动债务的亏损,扣除税款。
调整后 EBITDA
2021年9月季度调整后的息税折旧摊销前利润为810万美元,而2020年同期为1,720万美元。我们将调整后的息税折旧摊销前利润定义为扣除利息支出、税项、损耗和折旧前的净收益(亏损),以及对某些其他项目进行调整后的净收益(亏损)。
每股现金流和现金流
2021年9月季度的现金流为780万美元,而2020年比较季度的现金流为1,740万美元。2021年9月季度的每股现金流为0.06美元,而2020年同期的每股现金流为0.14美元。
现金流和每股现金流是公司用来评估其业绩的衡量标准,但它们不是《国际财务报告准则》认可的条款。现金流定义为在非现金营运资本余额、已缴所得税和矿业税以及已付利息净变动之前的运营现金流。每股现金流的衡量标准是除以年内已发行普通股的加权平均数。
每生产一磅铜的现金成本
公司主要是铜生产商,因此分别计算其三个铜矿——雷德克里斯(30%的股份)、波利山和哈克贝利的这一非国际财务报告准则财务指标,并根据这些矿山的综合计算得出。
每磅铜生产的现金成本不同时期的变化是由许多因素造成的,包括:品位、金属回收率、向运营收取的开采量、矿山和工厂的运行条件、劳动力和其他成本投入、运输和仓储成本、处理和提炼成本、副产品和其他收入金额、美元兑加元的汇率以及铜产量。
Huckleberry和Mount Polley矿停产期间的闲置矿山成本不包括在每生产一磅铜的现金成本中。
计算每生产一磅铜的现金成本
以千美元表示, 每生产一磅铜的现金成本除外
| 三个月已结束 9 月 30 日 | 九个月已结束 9 月 30 日 |
| 2021 | | 2020 | | 2021 | | 2020 |
以美元生产的铜的现金成本 | $ | 10,007 | $ | 9,471 | $ | 35,332 | $ | 27,417 |
铜产量 — 磅 | | 5,173 | | 6,661 | | 15,210 | | 21,333 |
每磅铜生产的现金成本(以美元计) | $ | 1.93 | $ | 1.42 | $ | 2.32 | $ | 1.29 |
有关详细信息,请参阅帝国银行2021年第三季度报告,网址为 imperialmetals 和 sedar.com
关于帝国
Imperial是一家总部位于温哥华的勘探、矿山开发和运营公司。该公司通过其子公司拥有Red Chris矿30%的权益,以及不列颠哥伦比亚省波利山和哈克贝利铜矿的100%权益。帝国银行还持有Ruddock Creek铅/锌矿产的100%权益。
公司联系人
Brian Kynoch | 总统 | 604.669.8959
Darb Dhillon | 首席财务官 | 604.669.8959
关于前瞻性陈述的警示说明
本新闻稿中包含的某些信息不是历史事实陈述,是 “前瞻性” 陈述。前瞻性陈述与未来事件或未来业绩有关,反映了公司管理层对未来事件的预期或信念,包括但不限于以下方面的陈述:公司对 COVID-19 对公司业务和运营的影响的预期;金属定价及其对收入重估的影响;季度收入的波动;对Red Chris矿山潜在成本和寿命的预期;拟建区块洞穴的勘探进展情况发展;对当前和未来勘探和钻探计划的期望和时机;增强PFS结果的潜在重要机会,包括尽早开采东区最高品位的矿床和发现新的独特的更高品位矿化区;有可能在东岭进一步定义更高品位的矿化区域;现场人员将重点放在波利山和哈克贝利的护理、维护和修复活动上;矿山重启的最新情况为 Mount 准备的计划波利;对Mount Polley和Huckleberry重启时间表的预期;公司获得融资以资助Mount Polley重启的能力;以及某些非国际财务报告准则财务指标的实用性和可比性。
在某些情况下,可以通过使用诸如 “计划”、“期望” 或 “不期望”、“预期”、“预算”、“预期”、“估计”、“预测”、“打算”、“打算”、“预期” 或 “未预期” 或 “相信” 之类的词语和短语或陈述的变体来识别前瞻性陈述, “可以”, “会”, “可能” 或 “将被采取”, “发生” 或 “被实现” 或这些术语或类似术语的否定词.就其本质而言,前瞻性陈述涉及已知和未知的风险、不确定性和其他因素,这些因素可能导致公司的实际业绩、业绩或成就与前瞻性陈述所表达或暗示的任何未来业绩、业绩或成就存在重大差异。
在本新闻稿中发表前瞻性陈述时,公司应用了某些因素和假设,这些因素和假设基于公司目前获得的信息以及公司当前的信念和假设。这些因素、假设、信念和假设包括公司中期和年度财务报表中不时详述的风险因素,以及管理层对这些报表的讨论和分析,所有这些报表均在SEDAR上提交并可供审查,网址为www.sedar.com。尽管公司试图确定可能导致实际行动、事件或结果与前瞻性陈述中描述的重大差异的重要因素,但可能还有其他因素导致行动、事件或结果与预期、估计或预期不符,其中许多因素超出了公司的控制或预测能力。无法保证前瞻性陈述会被证明是准确的,因为实际结果和未来事件可能与此类陈述中的预期存在重大差异。因此,读者不应过分依赖前瞻性陈述,本新闻稿中的所有前瞻性陈述均受这些警示性陈述的限制。