|By Marketwired .||
|November 27, 2012 07:31 PM EST||
SAGUENAY, QUEBEC -- (Marketwire) -- 11/28/12 -- Arianne Resources Inc. (the "Company" or "Arianne") (TSX VENTURE:DAN)(FRANKFURT:JE9N)(OTCBB:DRRSF) today filed its interim financial statements for the quarter ended September 30, 2012.
During the third quarter, Arianne made significant progress in the development of its Lac-a-Paul phosphate project, including:
-- The Pre-Feasibility Study Update (PFSU) was completed. The report confirms that a 3 million t/yr phosphate concentrate mine production scenario will have a 23.2% IRR and a 3.9 year capital payback on a pre- tax basis. These results do not include resource estimates for the additional mineralization identified by drilling programs completed since the end of 2011. That drilling confirmed the increased strike length of Paul Zone mineralization from 1.3 km to 2.7 km. -- Closed secured financing of $11 million with minimal dilution. -- The Company launched its Feasibility Study (FS) by contracting with Cegertec WorleyParsons. Significant progress has been made, with the completed FS expected in the second half of 2013. -- Metallurgical testing of Paul and Manouane Zone ores advanced significantly. Jacobs Engineering has been contracted to validate all previous metallurgical work and further optimize the design of the proposed Lac-a-Paul facilities. Jacobs has received over 50 tons of ore samples and is expected to complete bench scale testing by year end. Completion of pilot scale testing and the final engineering report is expected mid -2013. -- Significant advances in the Environmental Impact Assessment (EIA) were made with the preliminary version of the EIA expected to be submitted in the first half of 2013. -- A third round of meetings was held with local community members and leaders of regional municipalities to inform them of progress with the Project. This regional consultation process will continue in 2013.
"In launching our FS, Arianne has chosen to partner with global experts in the phosphate mining industry to ensure a robust analysis that validates the attractive metallurgical results seen to date and proves up the substantial phosphate reserves we believe exist on the Lac-a-Paul property." commented Bernard Lapointe, Chief Executive Officer of the Company.
The net loss for the three-month period ended September 30, 2012 was $1,585,171 compared to a net loss of $597,951 for the same period in 2011. The higher loss is primarily due to accelerated development of the Lac-a-Paul project and higher expense for stock based compensation.
During Q3 2012, the Company spent $3,621,434 developing Lac-a-Paul in a variety of areas including technical reports, drilling and road work. The net loss for the quarter includes a share based compensation expense of $1,174,143 (compared to $365,750 in 2011) and represents the value of share purchase options issued over the period. This increase is mainly due to a grant of 1,025,000 options during the quarter.
The net loss for the nine-month period ended September 30, 2012 amounts to $2,672,918 compared to $614,763 for the same period in 2011, due to the same factors noted above. For the nine-month period ended September 30 2012, the Company spent $6,659,929 developing Lac-a-Paul primarily on technical reports, drilling and road work. Also a factor was significantly higher professional fees incurred for the transition from GAAP to IFRS for the preparation of financial statements for 2011.
The Company's Interim Financial Statements and accompanying management's discussion and analysis for the quarter ended September 30, 2012 and its Annual Information Form for the year ended December 31, 2011 are available on the Company's website and on SEDAR at www.sedar.com. Unless otherwise noted, all figures in the news release are reported in Canadian dollars.
The Board of Directors of the Company announces the grant of 250,000 stock options to directors pursuant to its stock option plan and subject to regulatory approval. The stock options are exercisable for a term of 10 years at an exercise price of $1.07 per share.
About Arianne Resources
Arianne Resources (www.arianne-inc.com) is developing the Lac a Paul phosphate-titanium deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits should produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminant. The Company has 68 million shares outstanding.
Follow Arianne on:
Resources Investing News: http://resourceinvestingnews.com/?s=Arianne
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.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Dec. 3, 2016 09:00 AM EST Reads: 433
Application transformation and DevOps practices are two sides of the same coin. Enterprises that want to capture value faster, need to deliver value faster – time value of money principle. To do that enterprises need to build cloud-native apps as microservices by empowering teams to build, ship, and run in production. In his session at @DevOpsSummit at 19th Cloud Expo, Neil Gehani, senior product manager at HPE, discussed what every business should plan for how to structure their teams to delive...
Dec. 3, 2016 08:30 AM EST Reads: 1,344
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
Dec. 3, 2016 08:30 AM EST Reads: 676
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 08:30 AM EST Reads: 470
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 07:30 AM EST Reads: 695
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 07:00 AM EST Reads: 504
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Dec. 3, 2016 06:30 AM EST Reads: 6,000
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Dec. 3, 2016 05:45 AM EST Reads: 6,918
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web ...
Dec. 3, 2016 05:30 AM EST Reads: 1,198
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 3, 2016 04:15 AM EST Reads: 1,712
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, shared the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Dec. 3, 2016 04:15 AM EST Reads: 3,423
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
Dec. 3, 2016 02:30 AM EST Reads: 1,523
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
Dec. 3, 2016 02:15 AM EST Reads: 756
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Dec. 3, 2016 02:15 AM EST Reads: 1,498
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 01:45 AM EST Reads: 783