Silver

Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) announced its financial results for the second quarter of 2014, also providing a production update for its Guatemala-based Escobal mine.

Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) announced its financial results for the second quarter of 2014, also providing a production update for its Guatemala-based Escobal mine.

Its net earnings came to $36.1 million, or $0.25 per share, while its revenue clocked in at $104.7 million.

Other Q2 highlights include:

  • Operating cash flow before changes in working capital was $58.9 million or $0.40 per share.
  • Silver production amounted to 5.8 million ounces at a total cash cost of $5.65 per ounce and an all-in sustaining cost of $8.04 per ounce produced, net of by-product credits.
  • First half production was 9.9 million silver ounces.
  • Realized price of silver from concentrate sales averaged $20.82 per ounce.
  • Cash and equivalents at quarter-end were $51.5 million.

CEO Kevin McArthur commented:

The ramp-up and optimization at Escobal were completed as planned during the second quarter. We are very happy with the outstanding team performance at the Escobal mine, and we continue to make great strides towards accomplishing our 2014 goals. In addition to posting strong operating and financial results for the quarter, we have positioned the Company’s balance sheet to reflect a strong cash balance by year-end.

Click here to read the full Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) press release.

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