Applied Minerals, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2019
May 16, 2019 at 02:25 am IST
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Applied Minerals, Inc. announced earnings results for the first quarter ended March 31, 2019. For the first quarter, the company announced sales was USD 120,527 compared to USD 45,647 a year ago. Operating loss was USD 951,515 compared to USD 1.704 million a year ago. Net loss was USD 1.342 million compared to USD 12.075 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.08 a year ago.
Applied Minerals, Inc. owns the Dragon Mine in central Utah. From the mine the Company extract, process or has processed by a third party, halloysite clay and iron oxide for sale to a range of end markets. The Company markets the minerals directly and through distributors. It is also engaged in research and development and frequently works collaboratively with customers, consultants, distributors; and a third-party processor to process and enhance its halloysite clay products to improve the performance of its customersâ existing and new products. Its halloysite clay, which the Company markets under the DRAGONITE trade name, is an aluminosilicate mineral with a hollow tubular shape. DRAGONITE can utilize halloysiteâs shape, high surface area, and reactivity to add significant functionality to a number of applications. The Companyâs iron oxide, which it markets under the AMIRON trade name, sales for use in cement, as well as an absorbent for hydrogen sulfide gas contained in natural gas.
APPLIED MINERALS, INC. 
