Atlas Consolidated Mining & Development Corp. (AT:Philippine Stock Exchange)

Atlas Consolidated and Mining Corp. reported earnings results for the third quarter ended September 2008. The company said that, the net loss more than doubled in July to September due to foreign exchange costs and a drop in mineral production and sales, the company told the bourse. The net loss had more than doubled to PHP 314.024 million in the third quarter. For the nine months, the net loss level went up more than six times to PHP 837 million. The increase in losses were attributed to the drop in sales volume of laterite nickel ore, coupled with the recognition of unrealized foreign exchange losses of PHP 530 million and interest of PHP 299 million. The increase in losses were attributed to the drop in sales volume of laterite nickel ore, coupled with the recognition of unrealized foreign exchange losses of PHP 530 million and interest of PHP 299 million. The company expects to generate $62 million in gross revenues by selling 60,000 wet metric tons of copper concentrates to Swiss MRI Trading AG until June next year.

Atlas Consolidated Mining & Development Corp., Special/Extraordinary Shareholders Meeting, Nov 07, 2008, at 02:00 GMT Time. Location: Legend Villas Hotel, Mandaluyong City, Metro Manila, Philippines. Agenda: To consider call to order; to consider certification of notice and quorum; to consider approval of the minutes of the Annual General Meeting of Stockholders held on July 18, 2008; to consider approval of the issuance by Atlas of convertible notes representing an aggregate nominal amount of up to USD 50 million; to consider approval of the filing of a registration statement covering the common shares of stock underlying the Convertible Notes; to consider approval of the issuance of Atlas common shares of stock as a result of the conversion of the Convertible Notes; to consider waiver of any requirement of the Philippine Stock Exchange, Inc. to conduct a rights or public offering covering the shares to be issued and subscribed as a result of the conversion of the convertible notes; to consider approval of the filing of an application with the PSE for the listing of the common shares of stock underlying the convertible notes and to consider other matters .

Atlas Consolidated Mining & Development Corp. reported earnings results for the second quarter ended June 30, 2008. For the period, the company reported bigger net loss due to a weaker peso. The company reported a net loss of PHP 298.526 million, four times higher than the loss it posted a year earlier. The loss was also a third higher than its loss in the first quarter. The company traced the loss to a drop in the sales volume of laterite nickel ore, coupled with the recognition of unrealized foreign exchange losses worth PHP 288 million and interest at PHP 165 million.