Almonty Industries Inc., a leader in the mining sector, has published its interim condensed consolidated financial statements for the three and nine months ending September 30, 2024. These statements, presented in Canadian dollars and unaudited, reflect the company's financial activities and position during the period.
Financial Statement Overview
The financial statements, prepared by management in accordance with International Financial Reporting Standards (IFRS), highlight Almonty Industries' commitment to transparency and rigorous financial oversight. The responsibility for these financial statements lies with the management, under the oversight of the Board of Directors and the Audit Committee, ensuring that all financial reporting is accurate and provides a fair representation of the company’s financial condition.
Shareholders’ Equity and Capital Management
Shareholders’ equity was reported at CAD 55,660,000, an increase from CAD 48,508,000 at the end of 2023. This includes share capital, the equity portion of convertible debentures, contributed surplus, accumulated other comprehensive income, and the deficit which stands at CAD 114,817,000.
Management’s Role and Responsibility
Management, led by Director, President & CEO Lewis Black and Chief Financial Officer Mark Gelmon, asserts its responsibility for the financial statements, emphasizing the implementation of processes to ensure the accuracy and reliability of financial reporting. The Board, along with the Audit Committee, plays a crucial role in reviewing and approving these financial statements, with Mark Trachuk, Director and Audit Committee Chair, also endorsing this responsibility.
Forward-Looking Statements
Management's forward-looking statements within these financial reports reflect a continuing commitment to explore and expand the company’s mining operations while managing financial risks. Ongoing projects and exploration activities are expected to enhance shareholder value and contribute positively to the company's financial health in future periods.
Conclusion
The release of these interim condensed consolidated financial statements for Almonty Industries Inc. provides a comprehensive view of the company's financial health and strategic direction. The statements have been prepared with diligent oversight and reflect the company’s continued focus on growth, efficiency, and compliance with regulatory standards. Shareholders and potential investors are encouraged to review these statements to better understand the company’s operations and financial strategies.
