Wallbridge Mining Expects Steady Cash Flow from Broken Hammer Moving Forward

Wallbridge Mining Company Ltd. (TSX:WM) released its financial and operating results for the first half of 2015, commenting that it recorded revenues of $12.9 million, or $148 per tonne of ore shipped.
Other highlights include:

• Production: The Broken Hammer open pit Mine produced 87,000 tonnes of ore containing 1.8 million pounds of contained copper, 4,400 ounces of palladium, 5,000 ounces of platinum, 1,400 ounces of gold 8,900 ounces of silver during the six months ended June 30, 2015.
• Total production costs: Total production costs were $11.4 million for the six months ended June 30, 2015, or $131 per tonne of ore shipped.
• Operating Profit: The Company had an operating profit of $1.5 million before royalty expense, and amortization and depletion for the six months ended June 30, 2015.
• Net Earnings: The Company had net earnings of $nil for the six months ended June 30, 2015.
• At June 30, 2015, the Company’s cash & cash equivalents were $0.4 million.

Marz Kord, president and CEO of  Wallbridge, commented:

Due to the municipal road load restrictions, the Broken Hammer operation was shut down from March 28, 2015 to June 1, 2015, and as such, the costs to care and maintain the operation with no revenue during the majority of the second quarter of the year impacted our cash flow during the quarter. The Broken Hammer operation has resumed full time production since June 8, 2015 and we expect the project to continue until the fourth quarter of 2015 and maintain a steady cash flow, even with the current low metal price environment.

Click here to read the full Wallbridge Mining Company Ltd. (TSX:WM) press release.