Almonty announces the filing of its financial statements and MD&A for the three months ended December 31, 2012

Almonty announces the filing of its financial statements and MD&A for the 
three months ended December 31, 2012 
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED 
STATES/ 
Revenue of $5.032 million and EBITDA(1) of $1.645 million for the first 
quarter of fiscal 2013 and tungsten recovery rate of 64.8% achieved for the 
month of December 
TORONTO, Feb. 14, 2013 /CNW/ - Almonty Industries Inc. ("Almonty" or the 
"Company") (TSX-V: AII) today announced the filing of its unaudited 
consolidated interim financial statements and management discussion & analysis 
("MD&A") for the three months ended December 31, 2012. Unless otherwise 
indicated, all currency amounts contained in this news release are in 
thousands of Canadian dollars. 
Almonty reported revenue of $5,032, gross profit of $2,512 representing a 
gross profit margin of 49.9%, EBITDA(1) of $1,645 and net income of $229 for 
the three month period ended December 31, 2012. 
Almonty mined 127,928 tonnes of ore at a weighted average grade of 0.37% WO(3) 
for the three month period ended December 31, 2012. The overall increase in 
head grade mined is a result of planned pit optimization that the Company is 
continuing to undertake following the completion of an updated National 
Instrument 43-101 - Standards of Disclosure for Mineral Projects technical 
report dated September 30, 2012. The Company believes that it will be able 
to continue to further enhance its ability to access higher grade material in 
future periods as the pit optimization continues. 
Tungsten concentrate recovery for the three month period ended December 31, 
2012 averaged 63.3%, a 5.3% increase over the previous quarter's recovery rate 
of 60.0% and culminating in a recovery rate of 64.8% for the month of December 
2012, in-line with Almonty's forecasted 65% recovery rate by calendar year end 
2012. 
The Company shipped 17,360 MTU of high grade concentrate (65.0% or higher 
WO(3)) and 1,900 MTU of low grade concentrate (between 45.0% and 65.0% WO(3)) 
during the three months ended December 31, 2012. 
Production levels for the three months ended December 31, 2012 totalled 19,359 
MTU of WO(3 )concentrate, an increase of 10.5% over the three months ended 
September 30, 2012. Cash operating costs for the three months ended December 
31, 2012 were US$146 /MTU, a decrease of 8.2% over the three months ended 
September 30, 2012 and a decrease of 20.2% when compared to the year ended 
September 30, 2012. Expressed in Euros (to remove the effect of varying 
foreign currency exchange rate movement as the Company incurs 100% of its 
production costs in Spain) costs declined to €114/MTU, a decrease of 10.9% 
over the three months ended September 30, 2012 and a decrease of 18.6% when 
compared to the average costs for the year ended September 30, 2012. 
Summary operating information: 
 ____________________________________________________________
|                                | Three  | Three  |  Year   |
|                                | Months | Months |  Ended  |
|                                | Ended  | Ended  |September|
|                                |December|December|30, 2012 |
|                                |31, 2012|31, 2011|         |
|________________________________|________|________|_________|
|Ore treated (tonnes)            |116,151 |122,673 | 476,591 |
|________________________________|________|________|_________|
|WO(3) concentrate produced (MTU)| 19,359 | 16,889 |  65,848 |
|________________________________|________|________|_________|
|WO(3) concentrate sold (MTU)    | 19,260 | 18,045 |  66,419 |
|________________________________|________|________|_________|
|Sales revenue (US$ million)     |   5.0  |   6.3  |   21.5  |
|________________________________|________|________|_________|
|Cash operating costs (US$/MTU)  |   146  |   190  |    183  |
|________________________________|________|________|_________|
|Cash operating costs (Euro/MTU) |   114  |   162  |    140  |
|________________________________|________|________|_________|
|Ore mined (tonnes)              |127,928 |135,557 | 462,221 |
|________________________________|________|________|_________|
|Average grade WO(3) mined       |  0.37% |  0.30% |   0.28% |
|________________________________|________|________|_________|
|Average WO3 recovery rate       |  63.3% |  56.2% |   57.8% |
|________________________________|________|________|_________| 
Lewis Black, Chief Executive Officer of Almonty commented, "we have achieved 
our minimum targeted tungsten recovery rate on time and below budget. Q1 2013 
was our best production quarter yet and we expect to continue our momentum 
into Q2 2013. Our cash operating costs are continuing to trend down, both in 
U.S. Dollar and Euro terms, towards our targeted level of $125-$130 per MTU. 
The Company continues to generate positive cash flow despite weakness in the 
APT commodity price experienced during Q1. We are starting to see signs of a 
turning point in the demand for tungsten concentrate and anticipate a more 
favourable APT commodity pricing environment for the balance of fiscal 2013." 
The following financial information is for the periods from October 1, 2011 to 
September 30, 2012 and for the three month periods ended December 31, 2012 and 
2011: 


                             Three Months  Three Months           Year
                                    Ended         Ended          Ended
                              December 31,  December 31, September 30,
                                      2012          2011           2012
                                     $'000         $'000          $'000

Gross Revenue                        5,032         6,485         21,645

Cost of sales                      (2,520)       (3,415)       (11,106)

Gross profit                         2,512         3,070         10,539

General and administrative
costs                                (820)         (734)        (3,104)

Other income (expense)                (32)            75             31

Non-cash compensation costs
(options issued to
directors, officers and key
management)                           (15)          (45)          (263)

Earnings (loss) before the
undernoted items                     1,645         2,366          7,203

Depreciation and
amortization                       (1,399)       (1,608)        (4,863)

Interest expense                      (17)          (12)           (66)

Deferred income tax
(expense) recovery                       -             -            141

Net income (loss) for the
period                                 229           746          2,415

Income (loss) per share
basic                                $0.01         $0.02          $0.07

Income (loss) per share
diluted                              $0.01         $0.02          $0.07

Dividends                                -             -              -
                                                                       

Cash flows provided by (used
in) operating activities             1,712         2,467          8,612

Cash flows used in investing
activities                         (2,512)       (1,772)        (8,835)

Cash flows provided by
financing activities                  (15)           150            119
                                                                       
                              December 31,  December 31,  September 30,
                                      2012          2011           2012

Cash                                   252         1,052          1,052

Total assets                        30,253        27,966         27,966

Long-term trade payables               584           556            556

Capital lease obligations              138           200            148

Shareholders' equity                22,716        20,730         21,649
                                                                       

Other                                                                  

Outstanding shares ('000)           37,044        37,011         37,044

Weighted average outstanding
shares ('000)                                                          

  Basic                             37,044        37,011         37,023

  Fully diluted (treasury
  method)                           37,069        37,036         37,047

Closing share price                  $1.07         $1.00          $0.94
    About Almonty

The principal business of Toronto, Canada based Almonty Industries Inc. 
(TSX-V: AII) is the mining, processing and shipping of tungsten concentrate 
from its tungsten mine at the Los Santos Project. The Los Santos Project was 
acquired by Almonty in September 2011. The mine was originally opened in 
2008 and commissioned in July 2010 by its former owner. The Los Santos 
Project is located approximately 50 kilometres from Salamanca in western Spain 
and produces tungsten concentrate.

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.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that 
are based on the beliefs of management and reflect Almonty's current 
expectations. When used in this press release, the words "estimate", 
"project", "belief", "anticipate", "intend", "expect", "plan", "predict", 
"may" or "should" and the negative of these words or such variations thereon 
or comparable terminology are intended to identify forward-looking statements 
and information.

The forward-looking statements and information in this press release include 
information relating to the intentions of management. Such statements and 
information reflect the current view of Almonty with respect to risks and 
uncertainties that may cause actual results to differ materially from those 
contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, 
uncertainties and other factors which may cause actual results, performance or 
achievements, or other future events, to be materially different from any 
future results, performance or achievements expressed or implied by such 
forward-looking statements.

Forward-looking statements are made based on management's beliefs, estimates 
and opinions on the date that statements are made and Almonty undertakes no 
obligation to update forward-looking statements if these beliefs, estimates 
and opinions or other circumstances should change.

Investors are cautioned against attributing undue certainty to forward-looking 
statements. Almonty cautions that the foregoing list of material factors is 
not exhaustive. When relying on Almonty's forward-looking statements and 
information to make decisions, investors and others should carefully consider 
the foregoing factors and other uncertainties and potential events.

Almonty has also assumed that material factors will not cause any 
forward-looking statements and information to differ materially from actual 
results or events. However, the list of these factors is not exhaustive and is 
subject to change and there can be no assurance that such assumptions will 
reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE 
EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, 
IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE 
IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS 
INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT 
UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED 
IN ACCORDANCE WITH APPLICABLE LAWS.

(________________________ )
(1) EBITDA is a non-GAAP metric of the Company's financial performance that 
measures earnings prior to deductions of interest, taxes depreciation and 
amortization.







Dennis Logan, Director & Chief Financial Officer Telephone:(647) 478-5308 
Email:dennis.logan@almonty.com

SOURCE: Almonty Industries Inc.

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CO: Almonty Industries Inc.
ST: Ontario
NI: MNG ERN 

-0- Feb/14/2013 11:30 GMT


 
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