LISTED company Atlas Consolidated Mining and Development Corp. On Wednesday suggested a wider net lack of P879 million in 2016, the second one directly 12 months that the miner landed inside the purple amid an ongoing price and performance software.
In a disclosure to the Philippine Stock Exchange, Atlas stated it registered a consolidated net loss of P879 million in 2016, which turned into eight percent larger than the internet lack of P814 million recorded in 2015.
Atlas attributed the wider loss to a one-time provision on disputed enter tax credit well worth P495 million. Excluding this, the employer’s underlying net loss become P384 million, representing a 53 percent improvement at the prior yr.
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“Operational efficiencies and fee optimization have been the key techniques of Atlas Mining for the duration of the recent period of lower copper costs,” the employer said.
It said sales reached P12.08 billion, up by using 7 percentage from 2015, on the higher volume of copper shipments and income of gold, which helped mood the lower copper charges inside the international marketplace.
Copper sales improved through 2 percent due to the boom in concentrates shipped, which rose four percentage from 169,304 dry metric lots (DMT) of copper concentrates in 2015 to 176,one hundred thirty DMT in 2016.
The better shipment quantity offset the drop in copper fee, which fell 10 percentage to $2.21 per pound final yr from $2.46 consistent with pound in the previous year.
Gold sales extended 34 percentage due to better cargo quantity and expenses. Shipment extent extended by way of 4,879 oz to 32,211 oz, while the common rate rose to $1,241/oz.In 2016 from $1,154/ouncesthe yr before.
It said extra sales was additionally found out from the sale of 25,000 DMT of magnetite for P12 million.
With higher sales and lower coins running costs, earnings before interest, tax, depreciation and amortization (EBITDA) advanced by using forty six percent to P3.17 billion from P2.17 billion.
In a disclosure to the Philippine Stock Exchange, Atlas stated it registered a consolidated net loss of P879 million in 2016, which turned into eight percent larger than the internet lack of P814 million recorded in 2015.
Atlas attributed the wider loss to a one-time provision on disputed enter tax credit well worth P495 million. Excluding this, the employer’s underlying net loss become P384 million, representing a 53 percent improvement at the prior yr.
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“Operational efficiencies and fee optimization have been the key techniques of Atlas Mining for the duration of the recent period of lower copper costs,” the employer said.
It said sales reached P12.08 billion, up by using 7 percentage from 2015, on the higher volume of copper shipments and income of gold, which helped mood the lower copper charges inside the international marketplace.
Copper sales improved through 2 percent due to the boom in concentrates shipped, which rose four percentage from 169,304 dry metric lots (DMT) of copper concentrates in 2015 to 176,one hundred thirty DMT in 2016.
The better shipment quantity offset the drop in copper fee, which fell 10 percentage to $2.21 per pound final yr from $2.46 consistent with pound in the previous year.
Gold sales extended 34 percentage due to better cargo quantity and expenses. Shipment extent extended by way of 4,879 oz to 32,211 oz, while the common rate rose to $1,241/oz.In 2016 from $1,154/ouncesthe yr before.
It said extra sales was additionally found out from the sale of 25,000 DMT of magnetite for P12 million.
With higher sales and lower coins running costs, earnings before interest, tax, depreciation and amortization (EBITDA) advanced by using forty six percent to P3.17 billion from P2.17 billion.
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