09:39 AM EDT, 04/20/2020 (MT Newswires) -- Athabasca Minerals (AMI.V) said over the weekend that for Q4 2019, comprehensive loss was $1.1 million compared with a comprehensive loss of $0.9 million in Q4 2018.

In fiscal 2019 comprehensive losses reached $2.7 million compared with comprehensive loss of $2.5 million in 2018 as decreased operating losses were offset by lower other non-operating income, loss on share purchase options and a decrease in income tax recovery in 2019.

CEO Robert Beekhuizen said: "We made systematic and measurable progress delivering on our Corporate Strategies in 2019 that levers AMI for continued business transformation and growth in 2020. The corporation has improved and strengthened its portfolio by diversifying with AMI Aggregates, AMI Silica and AMI RockChain, and from noteworthy 2019 achievements within each of these three subsidiaries. We remain encouraged and optimistic about creating value for shareholders and making a meaningful difference as an essential service supporting multiple supply chains across various market sectors."

For its outlook, the company said that it continues to be active with screening, assessing, and reviewing acquisition and joint venture investment opportunities that can expand revenues in the use and application of industrial minerals.

Further, AMI said it is positioning for growth across each of its three divisions in 2020. At AMI Aggregates, the base division will generate revenues from commercial operations and production at the Coffey Lake Public Pit, as well as its True North Staging Hub both located in the high-demand region of oilsands industrial region. AMI RockChain will look to expand geographic coverage across Western Canada and from increased customer applications across various market-sectors. AMI Silica's Duvernay Project will continue to advance with priority given its five-year offtake agreement with Shell Canada Energy.

Amid COVID-19 financial uncertainties, AMI said that it will continue to monitor and adhere to the required protocols to ensure compliance and to mitigate the risks to staff, and to key stakeholders in its supply chain.

Shares last Friday jumped 6.2% to $0.17 apiece in a 52-week range of $0.08 - 0.79.

Price: 0.1700, Change: +0.0100, Percent Change: +6.25