[et_pb_section fb_built=”1″ _builder_version=”3.24.1″ custom_margin=”20px||” custom_padding=”0px||0px|||” z_index_tablet=”500″ box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px”][et_pb_row custom_padding=”0px||0px|||” _builder_version=”3.22.3″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.0.47″][et_pb_divider color=”#000000″ divider_position=”center” disabled_on=”on|on|off” module_class=”al-line” _builder_version=”3.24.1″ custom_margin=”0px||15px||false” custom_padding=”15px||10px||false” custom_css_main_element=”||”][\/et_pb_divider][et_pb_text admin_label=”News Release Text” module_class=”mobile-center” _builder_version=”3.24.1″ text_font=”||||||||” text_font_size=”16px” text_line_height=”1.5em” custom_margin=”||27px|||” z_index_tablet=”500″ text_font_size_tablet=”17px” text_font_size_phone=”17px” text_font_size_last_edited=”on|phone” text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” header_font=”||||||||” header_3_font=”||||||||” header_3_text_color=”#bc222f”]<\/p>\n
The accompanying interim condensed consolidated financial statements for Almonty Industries Inc. were\u00a0prepared by management in accordance with International Financial Reporting Standards (IFRS). Management acknowledges responsibility for the preparation and presentation of the interim condensed\u00a0consolidated financial statements, including responsibility for significant accounting judgments and\u00a0estimates and the choice of accounting principles and methods that are appropriate to the Company\u2019s\u00a0circumstances. The significant accounting policies of the Company are summarized in Note 3 to the\u00a0interim condensed consolidated financial statements.<\/p>\n
Management has established processes, which are in place to provide them sufficient knowledge to\u00a0support management representations that they have exercised reasonable diligence that (i) the interim\u00a0condensed consolidated financial statements do not contain any untrue statement of material fact or omit\u00a0to state a material fact required to be stated or that is necessary to make a statement not misleading in\u00a0light of the circumstances under which it is made, as of the date of and for the periods presented by the\u00a0interim condensed consolidated financial statements and (ii) the interim condensed consolidated financial\u00a0statements fairly present in all material respects the financial condition, results of operations and cash flows of the Company, as of the date of and for the periods then ended presented by the interim\u00a0condensed consolidated financial statements.<\/p>\n
The Board of Directors is responsible for reviewing and approving the interim condensed consolidated\u00a0financial statements together with other financial information of the Company and for ensuring that\u00a0management fulfills its financial reporting responsibilities. The Audit Committee assists the Board of\u00a0Directors in fulfilling this responsibility. The Audit Committee meets with management to review the\u00a0financial reporting process and the interim condensed consolidated financial statements together with\u00a0other financial information of the Company. The Audit Committee reports its findings to the Board of\u00a0Directors for its consideration in approving the interim condensed consolidated financial statements\u00a0together with other financial information of the Company for issuance to the shareholders.<\/p>\n
Management recognizes its responsibility for conducting the Company\u2019s affairs in compliance with\u00a0established financial standards, and applicable laws and regulations, and for maintaining proper standards\u00a0of conduct for its activities.<\/p>\n
The unaudited Interim Condensed Consolidated Financial Statements as at and for the three and\u00a0nine-month periods ended June 30, 2019 and 2018 have not been reviewed by the Company’s\u00a0auditor.<\/strong><\/p>\n [\/et_pb_text][et_pb_button button_url=”\/wp-content\/uploads\/2019\/08\/AII_FS_Q3_190630_FINAL_SEDAR.pdf” url_new_window=”on” button_text=”Download Financial Statements” button_alignment=”center” button_alignment_tablet=”center” button_alignment_last_edited=”on|phone” admin_label=”Download Button” _builder_version=”3.24.1″ custom_button=”on” button_bg_color=”#bc222f” button_font=”|300|||||||” button_icon=”%%266%%” button_on_hover=”off” background_layout=”dark” z_index_tablet=”500″ button_text_size_tablet=”16px” button_text_size_last_edited=”on|tablet” button_text_shadow_horizontal_length_tablet=”0px” button_text_shadow_vertical_length_tablet=”0px” button_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” custom_css_main_element=”width: 100%;” button_bg_color__hover_enabled=”on” button_bg_color__hover=”#b21e2a” button_bg_enable_color__hover=”on”][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.24.1″ custom_margin=”20px||” custom_padding=”0px||27px|||” z_index_tablet=”500″ box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px”][et_pb_row custom_padding=”0px|||||” _builder_version=”3.22.3″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.0.47″][et_pb_text admin_label=”About Almonty” module_class=”mobile-center” _builder_version=”3.24.1″ text_font=”||||||||” text_font_size=”16px” text_line_height=”1.5em” header_font=”||||||||” header_3_font=”Oswald||||||||” z_index_tablet=”500″ text_font_size_tablet=”17px” text_font_size_phone=”17px” text_font_size_last_edited=”on|phone” text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px”]<\/p>\n The principal business of Toronto, Canada-based Almonty Industries Inc. is the mining, processing and shipping of tungsten concentrate from its Los Santos Mine in western Spain and its Panasqueira mine in Portugal as well as the development of its Sangdong tungsten mine in Gangwon Province, South Korea and the development of the Valtreixal tin\/tungsten project in north western Spain.<\/p>\n The Los Santos Mine\u00a0was acquired by Almonty in September 2011 and is located approximately 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Panasqueira mine, which has been in production since 1896, is located approximately 260 kilometres northeast of Lisbon, Portugal, was acquired in January 2016 and produces tungsten concentrate.<\/p>\n The Sangdong mine, which was historically one of the\u00a0largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, was acquired in September 2015 through the acquisition of a 100% interest in Woulfe Mining Corp.<\/p>\n Almonty owns 100% of the Valtreixal tin-tungsten project in north-western Spain.<\/p>\n Further information about Almonty\u2019s activities may be found at www.almonty.com and under Almonty\u2019s profile\u00a0at www.sedar.com<\/a>.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row custom_padding=”||0px|||” _builder_version=”3.22.3″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.0.47″][et_pb_divider color=”#000000″ divider_position=”center” module_class=”al-line” _builder_version=”3.24.1″ custom_margin=”0px||15px||false” custom_padding=”15px||10px||false” custom_css_main_element=”||”][\/et_pb_divider][et_pb_text admin_label=”Legal & Disclaimer” _builder_version=”3.24.1″ header_font=”||||||||” header_3_font=”Oswald||||||||” header_3_text_color=”#333333″ header_3_font_size=”18px” z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px”]<\/p>\n The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.<\/em><\/p>\n <\/em><\/p>\n When used in this press release, the words \u201cestimate\u201d, \u201cproject\u201d, \u201cbelief\u201d, \u201canticipate\u201d, \u201cintend\u201d, \u201cexpect\u201d,\u00a0\u201cplan\u201d, \u201cpredict\u201d, \u201cmay\u201d or \u201cshould\u201d and the negative of these words or such variations thereon or comparable\u00a0terminology are intended to identify forward-looking statements and information. These statements and\u00a0information are based on management\u2019s beliefs, estimates and opinions on the date that statements are made and\u00a0reflect Almonty\u2019s current expectations. Forward-looking statements in this press release include, but are not limited to, statements regarding the\u00a0expected use of proceeds of the Debenture Offering. The forward-looking statements and information in this\u00a0press release include information relating to the intentions of management. Such statements and information\u00a0reflect the current view of Almonty with respect to risks and uncertainties that may cause actual results to vary.\u00a0Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may\u00a0cause the actual results, level of activity, performance or achievements of Almonty to be materially different\u00a0from those expressed or implied by such forward-looking statements, including but not limited to: the receipt of\u00a0all required approvals, unanticipated costs and expenses, general market and industry conditions and perational Forward-looking statements are based on assumptions management believes to be reasonable, including but not\u00a0limited to, the receipt of all required final approvals, no unanticipated delays in the project financing, no\u00a0material unanticipated costs and expenses, no material adverse change in general market and industry conditions\u00a0and no unanticipated material operational risks, including large project risk and contractual factors, no material\u00a0adverse change in the market price of APT, the continuing ability to fund or obtain funding for outstanding\u00a0commitments, expectations regarding the resolution of legal and tax matters, no negative change to applicable\u00a0laws, the ability to secure local contractors, employees and assistance as and when required and on reasonable\u00a0terms, and such other assumptions and factors as are set out herein. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ\u00a0materially from those contained in forward-looking statements, there may be other factors that cause results,\u00a0level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no\u00a0assurance that forward-looking statements will prove to be accurate and even if events or results described in the\u00a0forward-looking statements are realized or substantially realized, there can be no assurance that they will have\u00a0the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on\u00a0forward-looking statements and are cautioned that actual outcomes may vary. Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that\u00a0the foregoing list of material factors is not exhaustive. When relying on Almonty\u2019s forward-looking statements\u00a0and information to make decisions, investors and others should carefully consider the foregoing factors and\u00a0other uncertainties and potential events. Almonty has also assumed that material factors will not cause any forward-looking statements and information\u00a0to 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\u00a0items or factors.<\/em><\/p>\n THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE\u00a0REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE\u00a0AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT\u00a0PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT\u00a0RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT\u00a0TO DO SO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR\u00a0TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.\u00a0<\/em><\/p>\n [\/et_pb_text][et_pb_text admin_label=”Contact Text” _builder_version=”3.24.1″ header_font=”||||||||” header_3_font=”Oswald||||||||” header_3_font_size=”18px” z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px”]<\/p>\n Lewis Black<\/strong> 100 King Street West [\/et_pb_text][et_pb_divider color=”#000000″ divider_position=”center” module_class=”al-line” _builder_version=”3.24.1″ custom_margin=”0px||15px||false” custom_padding=”15px||10px||false” custom_css_main_element=”||”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n<\/span>","protected":false},"excerpt":{"rendered":" The accompanying interim condensed consolidated financial statements for Almonty Industries Inc. were prepared by management in accordance with International Financial Reporting Standards (IFRS). Management acknowledges responsibility for the preparation and presentation of the interim condensed consolidated financial statements.<\/p>\n","protected":false},"author":1,"featured_media":2363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false},"categories":[56,11,3],"tags":[69],"yoast_head":"\nAbout Almonty<\/h3>\n
Legal Notice<\/em><\/h3>\n
Disclaimer for Forward-Looking Statements<\/em><\/h3>\n
<\/em><\/p>\n
risks, including large project risk and contractual factors, any specific risks relating to fluctuations in the price of ammonium para tungstate (\u201cAPT\u201d) from which the sale price of Almonty\u2019s tungsten concentrate is derived,\u00a0actual results of mining and exploration activities, environmental, economic and political risks of the\u00a0jurisdictions in which Almonty\u2019s operations are located and changes in project parameters as plans continue to be refined, forecasts and assessments relating to Almonty\u2019s business, credit and liquidity risks, hedging risk,\u00a0competition in the mining industry, risks related to the market price of Almonty\u2019s shares, the ability of Almonty\u00a0to retain key management employees or procure the services of skilled and experienced personnel, risks related\u00a0to claims and legal proceedings against Almonty and any of its operating mines, risks relating to unknown\u00a0defects and impairments, risks related to the adequacy of internal control over financial reporting, risks related to governmental regulations, including environmental regulations, risks related to international\u00a0 operations of\u00a0Almonty, risks relating to exploration, development and operations at Almonty\u2019s tungsten mines, the ability of\u00a0Almonty to obtain and maintain necessary permits, the ability of Almonty to comply with applicable laws,\u00a0regulations and permitting requirements, lack of suitable infrastructure and employees to support Almonty\u2019s\u00a0mining operations, uncertainty in the accuracy of mineral reserves and mineral resources estimates, production\u00a0estimates from Almonty\u2019s mining operations, inability to replace and expand mineral reserves, uncertainties\u00a0related to title and indigenous rights with respect to mineral properties owned directly or indirectly by Almonty,\u00a0challenges related to global financial conditions, risks related to future sales or issuance of equity securities,\u00a0differences in the interpretation or application of tax laws and regulations or accounting policies and rules of the\u00a0TSX.
<\/em><\/p>\n
<\/em><\/p>\n
<\/em><\/p>\nFor further information, please contact:<\/h3>\n
Chairman, President and CEO
Telephone:<\/strong> +1 647-438-9766<\/a>
E-mail:<\/strong> info@almonty.com<\/a><\/p>\nThe head office of Almonty is:<\/h3>\n
Suite 5700
Toronto, Ontario
M5X 1C7<\/p>\n