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IMPACT Silver Corp. (TSXV:IPT) announced the financial and production results for the second quarter of 2012. Results are based on the four mines the Company currently operates (Chivo, San Ramon, Noche Buena, and Gallega) as well as the two new mines being constructed in Mexico.
IMPACT Silver Corp. (TSXV:IPT) announced the financial and production results for the second quarter of 2012. Results are based on the four mines the Company currently operates (Chivo, San Ramon, Noche Buena, and Gallega) as well as the two new mines being constructed in Mexico.
As quoted in the press release:
Second Quarter 2012 Financial and Production Highlights
- Net income for the quarter increased 289% to $0.3 million ($0.00 per share) from a loss of $0.1 million in the first quarter of 2012.
- Revenues for the quarter were $3.6 million, compared to $4.5 million the first quarter of 2012.
- Mine operating earnings for the quarter were $1.3 million, compared to $1.6 in the first quarter of 2012 and mine operating costs decreased by 25% to $1.9 million from $2.5 million in the first quarter of 2012.
- Cash flows from operations before changes in non-cash working capital increased 78% to $1.2 million for the second quarter from $0.7 million in the first quarter of 2012.
- Working capital for the quarter was $29.5 million, compared to $32.1 million in the first quarter of 2012.
- Silver production for the quarter was 154,406 ounces, down marginally from 164,758 ounces in the first quarter of 2012.
- Lead production for the quarter was 139 tonnes, compared to 149 tonnes in the first quarter of 2012.
- Zinc production for the quarter was 205 tonnes, compared to 260 tonnes in the first quarter of 2012.
- Average mill throughput for the quarter was 438 tonnes per day (“tpd”), compared to 455 tpd in the first quarter of 2012.
Click here to read the full press release.
