TORONTO, ONTARIO–(Marketwired – May 4, 2015) – Aberdeen International Inc. (“Aberdeen”) (TSX:AAB) (“Aberdeen”, or the “Company”) is pleased to announce that it has released its financial results for the fourth quarter of 2015, for the period ended January 31, 2015. For more information please see the Company’s Annual Financial Statements and Management’s Discussion and Analysis (“MD&A”) posted on SEDAR at www.sedar.com.
As at January 31, 2015, Aberdeen’s Shareholders’ Equity (or Net Asset Value, “NAV”) was $35.9 million, or $0.37 per share. Aberdeen’s shareholders’ equity increased by $4.8 million from $31.1 million at the end of Q3 2015. The increase in shareholders’ equity was due to the performance of Aberdeen’s equity investment portfolio in the fourth quarter, which had a total investment gain of $2.8 million for the quarter in addition to the Company’s $2.0 million equity raise in Q4 2015. On a year-over-year basis, Aberdeen’s shareholders’ equity decreased by $11.6 million. Note that the reference to shareholders’ equity is similar to previous references to Net Asset Value or “NAV” by Aberdeen.
|Cash on hand||355,188||0.00||868,267||0.01||3,167,364||0.04|
|Loans / preferred shares||61,538||0.001||6,902,617||0.079||61,538||0.001|
For the twelve months ended January 31, 2015, Aberdeen reported net earnings of $(13.8) million or $(0.15) per basic share on total revenue of $(2.8) million. Revenue was comprised of $(3.0) million from net investment losses and $0.2 million from interest income and dividends. For the twelve months ending January 31, 2014, Aberdeen reported net earnings of $(16.3) million or $(0.19) per share on total revenue of $(13.5) million ($(14.3) million from net investment losses and $0.8 million from interest and dividend income and advisory service fees).
Aberdeen is pleased that its investment, African Thunder Platinum has announced several important milestones in recent weeks. On March 26, 2015, African Thunder announced the restart of the Smokey Hills Mine in January and on April 29, 2015, announced the successful commissioning of the plant at the end of March with the first PGM concentrate shipment on April 18, 2015. Production continues to improve and management of ATP is confident that the mine is on track to achieve full ramp-up before the end of the year. David Stein also noted, “Aberdeen has been pleased to see the mine start-up as scheduled, and the first concentrate shipment, which signals the first revenue received from ore production at the Smokey Hills Mine. In a few short months, African Thunder has accomplished a number of important milestones which we believe will be instrumental of the development of the project into a growing platinum Company.”
The Company continues to implement its five point plan as disclosed in January 2015. In particular:
About Aberdeen International Inc.:
Aberdeen is a publicly traded global investment and merchant banking company focused on small cap companies in the resource sector. Aberdeen will seek to acquire significant equity participation in pre-IPO and/or early stage public resource companies with undeveloped or undervalued high-quality resources. Aberdeen will focus on companies that: (i) are in need of managerial, technical and financial resources to realize their full potential; (ii) are undervalued in foreign capital markets; and/or (iii) operate in jurisdictions with moderate local political risk. Aberdeen will seek to provide value-added managerial and board advisory services to companies. The Corporation’s intention will be to optimize the return on its investment over a 24 to 36 month investment time frame.
For additional information, please visit our website at www.aberdeeninternational.ca and follow us on Twitter: @AberdeenAAB.
Except for statements of historical fact contained herein, the information in this press release constitutes “forward-looking information” within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include without limitation, statements regarding the impact of the appointment on Aberdeen; past success as an indicator of future success; net asset value of the Company; the potential of investee companies and the appreciation of their share price; the future intentions of the Company with regard to its shareholdings; the Company’s plan of business operations; timing with respect to proposed transaction, the ability to complete any transactions on the terms proposed, or at all; and anticipated returns. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.Contact Information:
Aberdeen International Inc.
Manager, Investor Relations