Inter-Rock Announces 2018 Financial Results

Toronto, Ontario – April 12, 2019 – Inter-Rock Minerals Inc. (TSX-V: IRO) (“Inter-Rock” or the “Company”) today reports its 2018 year-end operational and financial results.  All amounts in United States dollars, unless otherwise indicated.

2018 Highlights

  • Revenue of $47.27 million, as compared with $51.89 million in 2017, reflects the impact of a weak U.S. dairy market.
  • Operating cash flow (before working capital changes) of $2.81 million, down from $4.21 million in 2017 as a result of lower sales and increased SG&A.
  • Reduced debt by $1.01 million. Consolidated debt at the end of the year was $6.08 million.
  • Papillon’s clostridia control product tempered the impact of lower sales of other dairy feed nutritional products. Papillon is working on advancing a number of new product development projects.

Notwithstanding another year of low milk prices in the United States, Inter-Rock managed to generate sufficient cash flow to more than meet its operating requirements and debt repayment obligations,” reported Mr. Michael Crombie, Chief Executive Officer.  “Overproduction of milk is expected to continue to weigh on milk prices in the first half of 2019; however, we expect cash flow in 2019 to be approximately the same as 2018, as an expanded product line and higher sales of dolomite to glass customers should moderate the impact of low milk prices. Our financial condition is sound with a strong working capital position and a debt refinancing in 2018 allowed us to extend the term of Papillon’s debt at a relatively low fixed rate of interest,” Mr. Crombie added.

Associated Documents

This press release should be read in conjunction with the Company’s consolidated financial statements for the years ended December 31, 2018 and December 31, 2017 and associated Management’s Discussion and Analysis (“MD&A”), which are available on the Company’s website,, in the Regulatory Filings section under News & Filings, and on SEDAR (

Company Contact:

Robert Crombie, CFO
Company website:

About Inter-Rock

Inter-Rock owns three operating businesses: Papillon Agricultural Company Inc. (“Papillon”), MIN-AD, Inc. (“MIN-AD”) and Mill Creek Dolomite LLC (“Mill Creek”). Papillon is a US based marketer and distributor of toll manufactured premium dairy feed nutritional supplements, including MIN-AD’s products.  MIN-AD and Mill Creek are engaged in the production and marketing of high purity dolomite, primarily to the animal feed, glass, roofing and aglime industries in the United States.

No stock exchange or securities regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Disclosure Regarding Forward-Looking Statements

This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation. Generally, forward-looking statements can be identified by use of words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology. Such statements are based on reasonable assumptions, estimates, opinions and analysis made by management in light of its experience and its perception of trends, current conditions and its expectations of future developments as well as other factors which management believes to be reasonable and relevant. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements.  Risks and uncertainties are more fully described in the Company’s annual Management’s Discussion and Analysis available at While the Company believes that the expectations expressed by such forward-looking statements and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct.  Accordingly, readers should not place undue reliance on such statements.