Top 12 Primary Silver Miners Lost Over Half a Billion in Q2

SilverSeek.com reported that while the top 12 primary silver miners made money in the first quarter of this year, in the second quarter they collectively lost over half a billion dollars.

As quoted in the market news:

…the real tell-tale sign of the quarter to quarter profitability of a mining company is shown by its ‘Adjusted Income.’ Highlighted in green, the primary silver miners as a group recorded $94.4 million in adjusted income during the first quarter of 2013. However, just three months later they stated an adjusted income loss of $88.3 million.

This turns out to be an amazing $183 million dollar net change from quarter to quarter ($94.4 + $88.3 = $182.7 million).

The reason why we have to go by adjusted income is due to the fact that the net income approach becomes totally useless in obtaining a break-even cost analysis if it contains a great deal of gains or losses not associated with the day-to-day operation of mining silver.

Click here to read the full SilverSeek.com report.