| | Published : August 30th, 2011 | Announces Net Earnings and Record Revenues in Second Quarter 2011 |
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IMPACT Silver Announces Net Earnings
and Record Revenues in Second Quarter 2011
IMPACT Silver Corp. ("the Company" or "IMPACT") is pleased
to announce the results for the second quarter ending June 30, 2011.
SECOND QUARTER 2011 HIGHLIGHTS
- Revenues
for the quarter reached a new company record of $8.0 million,
significantly up from $2.9 million in the second quarter of 2010.
- Net
earnings for the quarter reached $2.5 million, up 718% from $0.3 million
in second quarter 2010.
- Earnings
per share (EPS) reached $0.04 for the quarter, up from $0.01 in the second
quarter 2010 and $0.08 for the first half of 2011.
- Silver
production for the quarter reached 224,361 oz., up 20% from 186,890 oz. in
the second quarter of 2010 and 485,331 oz. for the first half of 2011.
- Silver
sales for the quarter reached 249,851 oz., up 45% from 172,039 oz. in
second quarter 2010.
- Mine
throughput for the quarter was near full capacity at 416 tpd
("tonnes-per-day"), up from 363 tpd in second quarter 2010.
- Cash
flow from operations was $2.9 million, up from 0.9 million from the second
quarter of 2010.
- Cash
and cash equivalents stand at $32.6 million with working capital at $33.2
million, and no long term debt.
PRODUCTION
Three
months ended
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June
30 2011
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June
30 2010
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%
Change
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Total tonnes (t) produced
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37,899
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33,033
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+15
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Tonnes produced per
day (tpd)
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416
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363
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+15
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Revenue per production tonne sold ($CDN)
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$195.77
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$96.21
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+103
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Direct costs per
production tonne ($CDN)
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$79.97
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$53.60
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+49
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Silver production (oz)
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224,361
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186,890
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+20
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Lead production (t)
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201
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173
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+17
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Zinc production (t)
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316
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249
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+27
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Silver sales (oz)
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249,851
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172,039
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+45
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Lead sales (t)
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215
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164
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+31
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Zinc sales (t)
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353
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265
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+33
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In addition to the successful second quarter, the Company achieved record
revenues and silver production for the first half of 2011 due to increased
throughput from the Noche Buena Mine and improving grades at the San Ramon mine
resulting in higher grade mill feed, as well as completing numerous upgrades to
the 500-tpd ("tonnes-per-day") Guadalupe processing plant. Due to
higher silver prices, the Company continued to revise cut-off grades which
marginally increased the cost per ounce but contributed to increased silver
sales for the first half of 2011 producing a record $12.7 million in positive
cash flow, and an exceptional $4.9 million in net earnings ($0.08 EPS),
compared to $0.9 million ($0.02 EPS) in the comparable period in 2010. The
installation of new and more efficient float cells and silver-lead concentrate
dryer in the first quarter improved throughput and recoveries, and contributed
to silver production of 224,361 oz., up 20% from 186,890 oz. in the second
quarter 2010 and marginally down from 260,970 oz. in the prior quarter due to
the mill being shut down for four days.
The Company's financial position remained strong with $32.6 million in cash and
cash equivalents and net working capital of $33.2 million. The Company
completed a $15 million private placement in December 2010 (see IMPACT
news release dated December 15 2010) of which subsequently the warrants
attached to the placement were accelerated in June 2011 (see IMPACT
news release June 15 2011) adding $10.5 million to the Company's cash balance.
The Company's working capital is expected to remain very healthy throughout
2011 as cash flow from mining operations is planned to be sufficient to fund
the Company's planned 2011 operating costs, exploration expenditures and
equipment purchases.
In the Mamatla Mineral District, the Company focused on expediting the new open
pit Capire Mine Development Project scheduled for first production in the near
term subject to timely receipt of permits. Production plans at Capire are to
first install a 200-tpd pilot plant (already purchased) to optimize mining and
processing parameters toward planning for a larger operation in the future.
Surface rights for all mining areas, tailings dam and the processing plant have
been acquired. Condemnation drilling under the plant site, tailings dam and
rock waste piles has been completed in preparation for mine and plant
construction. When in production, Capire will be the Company's fourth active
mining operation and represents a new production district. The orientation and
shallow depth from surface of the mineralization will allow for open pit mining
of a portion of the zone.
EXPLORATION
IMPACT continues to execute its aggressive 20,000 meters surface and
underground 2011 drill program split between the 423-square-kilometer Zacualpan
Silver District and the 200-square-kilometer Mamatla Mineral District, while
building its GIS database now with over 2,000 old mine workings catalogued. The
Company has defined numerous priority drill targets and will likely exceed its
target of 20,000 meters of drilling in 2011.
The exploration team assigned to the Capire Subdistrict has been working to
expand the Capire Zone. Recent expansion drilling began to outline additional
mineralization to the north and southeast beyond the limits of the previously
defined Measured and Indicated Mineral Resources (see IMPACT
news release dated February 1, 2011). Highlights include 304g/t
silver, 4.51g/t gold, 1.52% lead, 3.05% zinc and 0.49% copper across 5.0m (see IMPACT
News Release dated August 17, 2011). IMPACT engineers are now studying
the possibility of expanding the open pit plan to incorporate these new drill
results. The deposit remains open and drilling to expand these resources is
continuing. The drill is also testing other nearby zones of mineralization.
During the quarter IMPACT announced initial first phase drill results from the
Huatecosco Gold-Silver Camp located south of IMPACT's Noche Buena Mine. Like
other prospects in this area, recent drill results included gold rich
intersections such as 6.96 g/t gold, 84 g/t silver, 2.89% lead and 5.11%
zinc across a true width of 4.24m (see IMPACT
news release dated June 02, 2011). Drilling is continuing on this
and other targets along the 16km long Huatecosco trend.
IMPACT Silver Corp. is a silver focused mining and exploration company
operating in Mexico with a producing silver operation at the 423-square-kilometer
Royal Mines of Zacualpan Silver District, the 200-square-kilometer advanced
Mamatla Silver District including the Capire Mine Development Project, and an
option agreement for a major share position in Defiance Silver Corp. in return
for IMPACT's 200tpd mill and mineral concessions in the Zacatecas Silver
District (See IMPACT
news release dated August 25, 2011 for more details).
A recorded conference call can be accessed at our website: www.IMPACTSilver.com
On behalf of the Directors of IMPACT Silver Corp.,
"Frederick W.
Davidson"
President & CEO
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Impact Silver Corp
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PRODUCER |
CODE : IPT.V |
ISIN : CA45257A1021 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Impact Silver is a silver producing company based in Canada. Impact Silver produces silver, lead and zinc in Mexico, develops copper, gold, lead, silver and zinc in Mexico, and holds various exploration projects in Mexico. Its main asset in production is ZACUALPAN in Mexico, its main asset in development is CAPIRE in Mexico and its main exploration properties are ZACATECAS (VETA GRANDE), MAMATLA AURORA, OSCAR, SAN SABINO ZACATECAS and HUATECOSCO in Mexico. Impact Silver is listed in Canada and in Germany. Its market capitalisation is CA$ 24.4 millions as of today (US$ 17.8 millions, € 16.5 millions). Its stock quote reached its highest recent level on March 07, 1997 at CA$ 4.25, and its lowest recent point on January 25, 2002 at CA$ 0.01. Impact Silver has 85 570 000 shares outstanding. |
Corporate Presentations of Impact Silver Corp |
In the News and Medias of Impact Silver Corp |
Annual reports of Impact Silver Corp |
Financings of Impact Silver Corp |
Option Grants of Impact Silver Corp |
Nominations of Impact Silver Corp |
Financials of Impact Silver Corp |
Project news of Impact Silver Corp |
3/14/2013 | (Capire)Announces Commissioning of the new Capire Production Centre... |
1/21/2013 | A Banner Year for IMPACT Silver Corp.'s Exploration in 2012 |
7/11/2012 | (Zacualpan)Intersects 8.47g/t Gold and 1.12% Copper across 2.75m on the... |
6/11/2012 | (Capire)Ranked in the 24th Annual PROFIT 200 Canada's Fastest-Growin... |
4/23/2012 | (Oscar)Intersects 1,875 g/t Silver across 1.00 meters and 115 g/t ... |
1/23/2012 | (Huatecosco)2011 Exploration Review and 2012 Outlook |
1/11/2012 | (Capire)Announces Commencement of Construction at the Capire Open Pi... |
10/27/2011 | (Oscar)Intersects Additional High Grade Silver: 1,007g/t Silver acr... |
10/14/2011 | (Huatecosco)Drills 4.1m of 5.2g/t Gold at New Zone at Huatecosco Gold P... |
9/13/2011 | (Zacualpan)Announces Concentrate Shipment Schedule Update |
9/12/2011 | (Zacatecas (veta Grande))Revises Zacatecas Option to Defiance Silver Corp. |
8/25/2011 | (Zacatecas (veta Grande))Options Zacatecas Assets to Defiance Silver Corp. |
8/17/2011 | (Capire)Expands Capire Deposit, Mexico |
7/13/2011 | (Zacualpan)Resumes Operations at Main Processing Plant |
7/9/2011 | (Zacualpan)Announces Fatality At Guadalupe Mill Site |
6/7/2011 | (Gonlondrinas)Receives Final Drill Results From GCC (Golondrinas, Cuchara,... |
6/2/2011 | (Huatecosco)Intersects 6.96g/t Gold across 4.24m at Huatecosco Gold-Silv... |
5/25/2011 | (Capire)Intersects 304g/t Silver And 4.51g/t Gold Across 5.0 Meters ... |
4/13/2011 | (Zacualpan)Announces Record Net Earnings Up 196% In 2010 |
3/13/2011 | (Zacualpan)Announces Arrival Of Second Drill And Expanded Exploration P... |
2/1/2011 | (Capire)Reports Updated Mineral Resources at Capire in Preparation f... |
8/19/2010 | (Zacualpan)Samples 4,800 g/t Silver Over 1.25 Meters and Commences Dril... |
8/10/2010 | (Zacualpan)Acquires Large New Concessions at Zacualpan |
7/27/2010 | (Zacualpan)First Results From 5,000M Drill Program |
5/25/2010 | (Capire)Intersects 2.99m Of 639 G/T Silver, 2.63 G/T Gold, 1.2% Lead... |
3/23/2010 | (Zacatecas (veta Grande))Completes Purchase Of 200-TPD Mill At Zacatecas |
3/17/2010 | (Mamatla Aurora)Intersects 1,139.7 g/t Silver over 1.38 Meters at Aurora 1 |
12/17/2009 | (Zacualpan)Intersects 466 G/T Silver Over 3.2 Meters At Santa Lucia |
10/6/2009 | (Zacualpan)Reports Initial Drill Results From Santa Lucia Silver Veins |
9/24/2009 | (Noche Buena) Positive Production Decision At Noche Buena |
8/11/2009 | (Zacualpan)Compiles Over 1,200 Historical Mine Workings And Successfull... |
7/21/2009 | (Noche Buena)Intersects More Wide Zones Of Silver At Noche Buena |
6/9/2009 | (Zacualpan)Expands Silver Mineralization At Noche Buena |
5/28/2009 | (Zacualpan)Announces Two New Silver Discoveries |
2/25/2009 | (Capire)Intersects 1,016 G/T Silver Over 1.8 Meters At Capire |
1/26/2009 | (Zacualpan)intersects 8.55 meters of 204 g/t silver in first drill hole... |
1/20/2009 | (Mamatla Aurora)Intersects 1,164 g/t Silver over 1.5 meters at Aurora 1 |
12/5/2008 | Discovers High Grade Gold Zone; Drills 19.6 g/t Gold Across ... |
8/12/2008 | (Zacualpan)Drills 11,463g/t (334 oz/ton) Silver Over 0.6M (2ft) At Chiv... |
7/3/2008 | (San Sabino Zacatecas)Announces Sale Of San Sabino Concession In Zacatecas |
6/18/2008 | (Zacualpan)s Production And Samples 657G/T Silver Over 2.85M At The Chi... |
4/29/2008 | (Zacualpan)Announces New Discovery At The Royal Mines Of Zacualpan |
4/24/2008 | (Zacualpan) Extends Strike Length Of Chivo Mine; Drills 12.3 Meters Of ... |
1/29/2008 | (Zacualpan)Announces Acquisition Of Third Mill |
9/19/2007 | (Zacualpan)Announces New Discovery At The Royal Mines Of Zacualpan |
3/29/2007 | Discovers High-Grade Gold Veins On Mamatla |
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Corporate news of Impact Silver Corp |
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