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ATNA Resources Ltd. (ATNAF) announced its unaudited financial results for the third fiscal quarter of 2013, reporting a net loss of $1.2M, or $0.01 losses per share. The gold mining company’s major production operation at Briggs, near Death Valley, California, sold 9,147 ounces of gold, up 35% from a year ago. The Briggs operation produced $2.2M in operating cash flow while production costs dropped 25% from $17.70 per ton crushed to $13.27 per ton crushed. ATNA reduced its debt by $5.4M during the third quarter and announced a new restructuring of its credit facility, deferring further payments to 2014. With good results, the company explains its net loss to interest expense and losses on derivatives. ATNA has produced 28,137 total ounces of gold since the start of the year and is forecast to produce between 9,000 and 10,000 ounces in fourth quarter.
I like the fact that they are so aggressively paying down the Debt. The current valuation presumes Bankruptcy. If they can continue retiring debt at this pace they could be out-of-the-woods by the middle of 2014. This should be the sole focus of ALL of the PM Junior Miners.