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Last C$0.11 CAD
Change Today +0.015 / 16.67%
Volume 3.0M
MBC On Other Exchanges
Symbol
Exchange
Toronto
OTC US
Frankfurt
As of 3:59 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

mbac fertilizer corp (MBC) Snapshot

Open
C$0.10
Previous Close
C$0.09
Day High
C$0.11
Day Low
C$0.10
52 Week High
05/6/14 - C$0.59
52 Week Low
03/31/15 - C$0.01
Market Cap
19.1M
Average Volume 10 Days
10.7M
EPS TTM
C$-0.18
Shares Outstanding
181.6M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for MBAC FERTILIZER CORP (MBC)

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mbac fertilizer corp (MBC) Details

MBAC Fertilizer Corp., together with its subsidiaries, produces and sells phosphate fertilizers and related products in the Brazilian and other Latin American markets. Its material mineral properties include the Itafós Arraias single super phosphate Project consisting of 36 exploration permits, 5 mining applications, and 1 mining permit for a total of 69,561.17 hectares; Santana Project covering 21 exploration properties, as well as 6 exploration permits under application for a total of 235,150 hectors; and Araxá Project consisting of 4 exploration permits and 1 mining permit covering a total area of 226 hectares. The company is headquartered in Toronto, Canada.

mbac fertilizer corp (MBC) Top Compensated Officers

Founder and Director
Total Annual Compensation: C$400.0K
Chief Financial Officer, Vice President of Fi...
Total Annual Compensation: C$225.0K
Compensation as of Fiscal Year 2013.

mbac fertilizer corp (MBC) Key Developments

Mbac Fertilizer Corp. Announces Earnings Results for the Quarter and Year Ended December 31, 2014; Provides Operational Update for Itafós Arraias Single Super Phosphate Operations During the Quarter and Year Ended December 31, 2014

MBAC Fertilizer Corp. announced earnings results for the quarter and year ended December 31, 2014. For the quarter, the company incurred a net loss of $8.8 million or $0.06 basic and diluted loss per share compared to a net loss of $11.0 million or $0.08 basic and diluted loss per share for fourth quarter of 2013. For the year, the company incurred a net loss of $28.5 million or $0.16 net loss per share, down from a net loss of $32.2 million or $0.22 net loss per share for 2013. The decrease in net loss was primarily due to lower selling, general and administrative expenses and lower unrealized foreign exchange loss. Excluding unrealized foreign exchange loss of $10.4 million as well as other non-cash or non-recurring items totaling an income $0.7 million, MBAC incurred an adjusted net loss of $18.9 million or $0.11 adjusted net loss per share for 2014. This compares to an adjusted net loss of $17.0 million or $0.12 adjusted net loss per share for 2013. The company provided operational update for Itafós Arraias Single Super Phosphate Operations during the quarter and year ended December 31, 2014. For the quarter, the company reported ore extracted of 112,035 tonnes, pre-commercial SSP net revenue of $2,506,000, and SSP pre-commercial production of 11,632 tonnes. For the year, the company reported ore extracted of 531,279 tonnes, pre-commercial SSP net revenue of $16,364,000, and SSP pre-commercial production of 98,533 tonnes.

MBAC Fertilizer Corp Announces Board Changes

MBAC Fertilizer Corp. announced the appointment of Anthony Cina, CPA, CA, ICD.D to its Board of Directors as well as its Audit Committee, effective immediately. Mr. Cina previously acted as the company's Chief Financial Officer from July 2009 to June 2012. Mr. Cina has over 25 years' experience in accounting, finance and tax-related matters and presently consults mining enterprises on M&A, operations optimization and asset and debt restructuring transactions, with particular focus in Brazil. The Board of Directors has also formed a Special Committee whose role is to provide direct oversight of all aspects of the ongoing strategic review process. The Special Committee will be composed of three directors, namely Anthony Cina as Chairman of the Special Committee, together with Denis Arsenault and Alexander Davidson.

MBAC Fertilizer Is Considering Multiple Strategic Options

MBAC Fertilizer Corp (TSX:MBC) provides an updated on the strategic review process which is focused on improving the liquidity and working capital position. MBAC Fertilizer Corp. has received non-binding indicative offers and expressions of interest from a number of third parties, most of which are active in the fertilizer and agriculture sectors, in response to MBAC's previously announced strategic review process. These third-parties are currently completing their due diligence on MBAC's assets, and are expected to submit binding proposals in the second quarter of 2015. There can be no assurances that the Company will pursue or complete a business transaction or sale under its strategic process nor that a business transaction or sale will provide any value to all or any stakeholders. Deutsche Bank AG (DB:DBK) is appointed as a financial advisor for this purpose.

 

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