Last C$2.38 CAD
Change Today -0.02 / -0.83%
Volume 82.1K
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As of 3:59 PM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

athabasca minerals inc (ABM) Snapshot

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athabasca minerals inc (ABM) Details

Athabasca Minerals Inc., a mineral exploration and management company, is engaged in the acquisition, exploration, and development of aggregates and industrial minerals in north-eastern Alberta, Canada. It primarily explores for various industrial raw materials, such as sand, gravel, silica sand, salt, and limestone. The company has interests in sand and gravel pits, including the Susan Lake and Poplar Creek gravel pits, as well as Kearl, Logan, House River, Pelican Hill, and Warrensville pits located in northwestern Alberta. It also holds interest in the Alberta Metallic and Industrial Minerals permits, which cover an area of 322,840 hectares and is located in the Fort McMurray region, northeast Alberta; and 15 Alberta Metallic and Industrial Minerals leases that covers an area of 21,579.5 hectares of land and is located in the Fort McMurray region, Alberta. Athabasca Minerals Inc. is headquartered in Edmonton, Canada.

athabasca minerals inc (ABM) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$210.0K
Chief Financial Officer
Total Annual Compensation: C$175.0K
Total Annual Compensation: C$69.0K
Total Annual Compensation: C$31.8K
Compensation as of Fiscal Year 2013.

athabasca minerals inc (ABM) Key Developments

Athabasca Minerals Inc. Receives Approval for Firebag Silica Sand Project

Athabasca Minerals Inc. announced that it has received approval from Alberta Environment and Sustainable Resource Development for the right to work and remove sand from SML 130021 for a term of 10 years commencing on August 25, 2014. The 80 acre parcel (SML 130021) will provide several years of raw silica sand resource to be utilized as frac sand in the oil and gas industry. This 80 acre parcel is the first phase of development of the overall 500 acre Firebag Silica Sand Project. The Corporation has completed a number of independent tests of the Firebag Projects silica sand demonstrating its use as frac sand. Initial testing was completed in 2011 by Stim-lab Inc. of Duncan, Oklahoma, USA, a recognized leader in the testing of proppants. Additional tests in 2014 undertaken by Stim-lab Inc. and PropTester, of Cypress, Texas, USA, another recognized leader in testing of proppants confirmed that the Firebag Project Silica sand is suitable to be utilized as frac sand. The Corporation commissioned Mr. Mark Zdunczyk, CPG, a New York based consulting geologist specializing in sand and aggregates, to conduct a testing program on the Firebag property. The Corporation also retained the services of Apex Geoscience Ltd. of Edmonton Alberta to complete a National Instrument 43-101 report (NI 43-101) to assess the Firebag resource size. It is anticipated that this report will be completed in Fiscal 2014. The Corporation retained NorWest Corporation of Calgary, Alberta to complete a Preliminary Economic Assessment (PEA) to demonstrate the viability of the Firebag Project silica sand resource. The Corporation is expecting the PEA to be completed during Fiscal 2014. Athabasca has also been in active discussions with a major railway company and the Regional Municipality of Wood Buffalo in developing a private switch and transloading facility in Fort McMurray.

Athabasca Minerals Inc. Announces Management Changes

Athabasca Minerals Inc. announced the appointment of Mr. Peter Elzinga, ICD.D, to the position of Chairman of the board of directors. Mr. Elzinga is a graduate of the ICD-Rotman Directors Education Program and was appointed to the board of directors on January 31, 2014. Mr. Elzinga has a long list of career accomplishments, in service to both the public and private sectors. Having held a variety of senior government positions, Mr. Elzinga has served as Deputy Premier for the Province of Alberta, and currently sits on the board of Servus Credit Union. Mr. Elzinga replaces Mr. Doug Stuve in the role as Chairman. While Mr. Stuve has resigned as Chairman he will continue to serve as a highly valued member of the corporation`s board of directors. The company appointed Mr. Scott MacDougall, P.Eng to the role of Vice President, Operations and appointed Ms. Heather Budney, P. Geol to the role of Chief Geologist.

Athabasca Minerals Inc. Reports Earnings Results for the Second Quarter and Six Months Ended May 31, 2014

Athabasca Minerals Inc. reported earnings results for the second quarter and six months ended May 31, 2014. For the quarter, the company reported total revenue of $272,510 compared to $2,446,130 a year ago. Net loss from aggregate operations was $538,704 compared to net income from aggregate operations of $919,072 a year ago. Net loss was $538,704 or $0.017 per share compared to net income of $847,445 or $0.029 per share a year ago. For the six months, the company reported total loss of $881,384. Net loss from aggregate operations was $2,449,097. Net loss was $2,449,097 or $0.078 per share.


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