Atna Resources Reports Fourth Quarter
and 2010 Fiscal Year End Results
Golden, CO - Atna
Resources Ltd. ("Atna" or
the "Company") (TSX:ATN / OTCBB:ATNAF)
today reported unaudited financial results for the Company's fourth
quarter and year-end for the period ended December 31, 2010. Unless
otherwise designated, all amounts are in U.S. dollars. Additional details
may be found in the fourth quarter and year-end MD&A and Financials
filed on SEDAR and EDGAR or it may be found on our website at www.atna.com.
Highlights for Fourth Quarter:
- Gold
sales revenue was $10.4 million for the fourth quarter a 39%
increase over third quarter revenue.
- Briggs
Mine produced $2.1 million in positive cash flow in the fourth
quarter.
- Unit
cash cost of production for the fourth quarter was $878 per ounce, a
15% reduction over the third quarter and a 10% reduction over the
preceding nine month average.
- Estimated
recoverable in-process gold in inventory was 13,600 ounces with a
potential year end market value of $19.1 million based on a year-end
gold price of $1,406.
- The
Company completed an equity offering and raised gross proceeds of
C$9.2 million.
Highlights for 2010:
- Gold
sales for 2010 increased 131% from 10,900 ounces in 2009 to 25,200
ounces in 2010.
- The
Briggs Mine received the MSHA - Sentinels of Safety 2009 Award in
October 2010.
- Total
revenues for 2010 were $30.6 million, which was an increase of 252%
over 2009.
- Total
tons mined for 2010 increased by 123% to 10.2 million short tons.
- Unit
cash cost of production for 2010 was $948 per ounce, a 4% increase
over 2009.
- All
permits at the Reward Mine have been received and infrastructure
construction has commenced.
- An
NI43-101 compliant Technical Report and Preliminary Economic
Assessment on the Columbia Gold Project in Montana was completed
with positive results.
- An
NI43-101 compliant Resource Estimate was completed for the Cecil R
project.
Fourth Quarter Financial Results:
For the three months ended December 31, 2010, Atna
recorded a net loss of $0.6 million, or basic loss per share of $0.01, on
revenues of $10.4 million. This compares to net loss of $1.8 million, or
a basic income per share of $0.02, on revenues of $5.0 million for the
three months ended December 31, 2009. For the fourth quarter ended
December 31, 2010, cash and cash equivalents were $9.6 million, an increase
of $8.0 million from September 30, 2010.
Year End 2010 Financial Results
For the year ended December 31, 2010, Atna
recorded net loss of $8.8 million, or basic loss per share of $0.10, on
revenues of $30.6 million. This compares to a net loss of $6.0 million,
or a basic loss per share of $0.07, on revenues of $8.7 million for the
year ended December 31, 2009. As of December 31, 2010, cash and cash
equivalents were $9.6 million, a decrease of $3.5 million from December
31, 2009.
Conference Call:
Management will host a conference call on Monday, March 28th, 2011, at
1:00p.m. Eastern time, to discuss these results and general corporate and
project activities. Participants in the U.S. and Canada dial (877)
559-1977; International callers dial (660) 422-4979. Please reference
conference ID #54440560
A replay of the fourth quarter and year-end call will be available
through midnight Eastern on Wednesday, March, 30, 2011, by dialing (800)
642-1687 or (706) 645-9291, reference conference ID #54440560
For additional information on Atna, its mining,
development and exploration projects, please visit our website at www.atna.com.
This press release contains certain
"forward-looking statements," as defined in the United States
Private Securities Litigation Reform Act of 1995, and within the meaning
of Canadian securities legislation. Forward-looking statements are
statements that are not historical fact. They are based on the beliefs,
estimates and opinions of the Company's management on the date the
statements are made and they involve a number of risks and uncertainties.
Consequently, there can be no assurances that such statements will prove
to be accurate and actual results and future events could differ materially
from those anticipated in such statements. The Company undertakes no
obligation to update these forward-looking statements if management's
beliefs, estimates or opinions, or other factors, should change. Factors
that could cause future results to differ materially from those
anticipated in these forward-looking statements include: the Company
might encounter problems such as the significant depreciation of metals
prices; accidents and other risks associated with mining exploration and
development operations; the risk that the Company will encounter
unanticipated geological factors; the Company's need for and ability to
obtain additional financing; the possibility that the Company may not be
able to secure permitting and other governmental clearances necessary to
carry out the Company's exploration programs; and the other risk factors
discussed in greater detail in the Company's various filings on SEDAR (www.sedar.com) with
Canadian securities regulators and its filings with the U.S. Securities
and Exchange Commission, including the Company's 2010 Form 20-F dated
March 23, 2011.
FOR FURTHER INFORMATION, CONTACT:
James Hesketh, President and CEO - (303)
278-8464
Valerie Kimball, Investor Relations - toll free (877) 692-8182
www.atna.com
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