Imperial mining outfit posts first quarter slump in profit
New Eden News - Mon, 31 Mar 2014 - 00:00
LADDIAHA - Ducia Foundry has posted its first downturn in profit for almost half a decade, in the wake of increased activity by independently managed mining corporations across Imperial border regions, a shareholder report confirmed this morning.
The corporation, best known for its risky and aggressive prospecting and resource harvesting strategies, has attributed this reduction in profit to both increased output from capsuleer-led industrial organization and higher levels of pirate activity Derelik and Aridia.
The corporation's Mining Coordinator, Pani Mis, was among several executives who offered further explanation to Amarr Certified News after the release of the shareholder report, saying "the sheer output of some of these capsuleer harvesting outfits is astonishing. The market is flooded with raw minerals and or cheap equipment, which are then purchased, transported out to the border regions and cannibalised for raw materials. This can cause significant drops in the demand for our core products."
When approached for comment, Ducia CEO Sasih Ghamak brushed off concerns that this downturn in revenue would continue further into the fiscal year, remarking that "the Imperial economy is as solid as a piece of Veldspar. This is simply an after effect of the conflict in B-R5RB, one of the largest capsuleer engagements the cluster has ever seen, and the subsequent arms race to rebuild fleet strength after such heavy losses."
Market analysts remain skeptical of Ducia Foundry's reaction to the reduction in profit, with many watching raw material supplies closely and stockpiling based on projected demand over the second quarter.
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