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Asbestos Corporation Limited (V:AB.H)

Business Focus: Specialty Mining & Metals (NEC)

Sector:  Basic Materials Industry:  Specialty Mining & Metals
See Regulatory Filings on SEDAR
Company Contact
Address: 840 Ouellet Blvd
Tel: N/A
IR: See website
Key People
John Leboutillier
Chairman of the Board
Guy Berard
Mario Simard
Chief Financial Officer, Secretary
Business Overview
Asbestos Corporation Limited (ACL) is a Canada-based company, which is focused on owning and maintaining its mining assets. The Company owns gigantic tailings piles in the Thetford Mines region. The Company has produced serpentine tailings, which contain several minerals, mainly magnesium from the chrysotile mining operations. The Company intends to implement new energy sources, such as wind and solar power. Its strategic development plan includes potential for carbon dioxide (CO2) sequestration from the carbonation of its mine tailings. The Company's sources of revenue include building rental, sale of land and mining equipment, and royalties originating from the exploitation of the Company's granite quarry by an independent contractor.
Financial Overview
For the six months ended 30 June 2022, Asbestos Corporation Ltd. revenues decreased from C$1.8M to -C$974K. Net loss increased from C$90K to C$386K. Revenues reflect FV Adjustments of Financial Investments decrease from C$820K to -C$2M, Other Revenues from Mining properties decrease of 78% to C$37K, Other decrease of 75% to C$10K. Higher net loss reflects Administrative expenses increase of 16% to C$411K (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $25.62M as of Jun 30, 2022
Annual revenue (TTM): $2.10M as of Jun 30, 2022
EBITDA (TTM): $0.35M as of Jun 30, 2022
Net annual income (TTM): -$0.24M as of Jun 30, 2022
Free cash flow (TTM): $1.05M as of Jun 30, 2022
Net Debt Last Fiscal Year: $23.37M as of Jun 30, 2022
Shares outstanding: 2,837,002 as of Jun 30, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization