- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Sprott Resource Holdings today (May 10) announced its financial results for the three months ended March 31, 2018.
Sprott Resource Holdings Inc. (TSX:SRHI) today (May 10) announced its financial results for the three months ended March 31, 2018.
According to the press release, the company’s current principal operating business is its 70 percent equity interest in the Chilean producing copper mine Minera Tres Valles (MTV) that was acquired in October 2017. MTV’s main asset is the Tres Valles mining complex, in the Province of Choapa, Chile and includes fully integrated processing operations and two active mines. Mineralized material is extracted from the Don Gabriel open pit mine and the Papomono Massive underground mine, both of which are located approximately 10 kilometers north of Salamanca, Chile with the heap leach pads and solvent-extraction and electrowinning processing plant located approximately 7 kilometers north of Salamanca.
As highlighted in the press
MTV operating performance for two months ended March 31, 2018
- Mined a total of 38 thousand tonnes of ore at a grade of 0.65 percent copper from the Don Gabriel open pit
- Mined a total of 52 thousand tonnes of ore at a grade of 1.10 percent copper from the Papomono Massive underground deposit
- Revenue for the period of US$6.0 million was generated from the sale of 827 tonnes of copper and tolling charges for mineralized material supplied by Empresa Nacional de Mineria, a Chilean state-owned minerals company
- Gross profit for the period was US$254,000
- Cash cost per pound of copper produced for the period was US$2.43
- Realized price per pound of copper sold was US$3.14
- Total exploration and capital expenditures for the period totaled US$192,000 focused on engineering services for the technical reports and purchases of equipment
Company financial performance for the three months ended March 31, 2018
As at March 31, 2018, the Company had cash and cash equivalents of US$29.1 million and net working capital of US$44.8 million
Adjusted EBITDA from continuing operations was negative US$1.0 million and the unrealized loss on portfolio investments was $6.4 million
Net loss for the quarter was US$8.7 million or US$0.01 per share
Click here to view the full Sprott Resources Holdings Inc (TSX:SRHI) press release.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.