Tahoe Reports Q1 Net Earnings of $31.9 Million

Tahoe Resources Inc. (TSX:THO,NYSE:TAHO) announced its financial results for the first quarter of 2015, also releasing a production update for its Guatemala- and Peru-based operations.

Financial data for the company’s La Arena mine is not included in the report.

Highlights include:

• Net earnings for the quarter amounted to $31.9 million or $0.22 per share.
• Operating cash flow before changes in working capital was $48.9 million or $0.33 per share.
• Revenue of $85.3 million generated from concentrate sales at operating costs of $40.3 million resulted in earnings from operations of $38.7 million.
• Silver production amounted to 4.6 million ounces based on a mill throughput average 3,724 tonnes per day (tpd).
• Total cash costs net of byproduct credits of $7.10 and an all-in sustaining cost (AISC) of $9.78 per ounce produced were realized during the quarter.
• Realized silver price from concentrate sales averaged $17.16 per ounce.
• The Company returned $8.9 million to shareholders through the monthly dividend.
• Cash and equivalents at quarter-end were $86.0 million.

Alex Black, CEO of Tahoe, commented:

Operations at the Escobal silver mine in Guatemala and the La Arena gold mine in Peru continue to perform within guidance. A culture of continual cost optimization remains the focus at both operations while keeping high standards of safety and responsibility. The Shahuindo gold project is continuing on schedule and within budget with the objective to produce first gold in early 2016.

The integration of our personnel at the corporate and operational level is advancing well following the recent merger of Tahoe with Rio Alto Mining Limited. Developing and strengthening our human talent will be a key focus during the rest of the year.

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