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International Minerals Corporation

Publié le 05 novembre 2008

Q3 Production Results for Pallancata Mine, Peru

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IMZ Reports Continued Growth in Silver Production From The Low-Cost Pallancata Mine, Peru

Scottsdale, Arizona, November 5, 2008 � International Minerals Corporation (TSX and SWX: �IMZ�) reports that silver production at the Pallancata Mine in southern Peru increased 8% to 899,000 ounces in the calendar third quarter ended September 30, 2008 (�Q3 2008�) compared to the prior quarter (for tables, see pdf of news release:  http://www.intlminerals.com/newsreleases.php).

 

Total Cash Costs for Q3 2008 were US$5.77 per ounce of silver produced (net of gold by-product credit) compared to US$5.72 per ounce in the prior quarter and consistent with US$5.76 per ounce for the calendar year-to-date (�YTD�) 2008.

 

Stephen Kay, Chief Executive Officer and President of IMZ, said, �The Pallancata Mine continues to grow and to perform well as a low-cost silver producer in an environment of industry-wide rising costs and remains profitable even with the current silver price under US$10 per ounce.�

 

The Pallancata Mine is jointly owned by IMZ (40%) and Hochschild Mining plc (�Hochschild�, 60% owner and the mine operator).

 

Of the total of 899,000 ounces of silver and 3,350 ounces of gold produced at Pallancata in Q3 2008, 40% (359,600 ounces of silver and 1,340 ounces of gold) was attributable to IMZ.

 

The planned production ramp-up to approximately 2,000 tonnes per day by year-end 2008 is proceeding on schedule.  IMZ�s share of the cost of this expansion program is approximately $4.8 million and will be funded by mine cash flow. The capital required for the expansion of Hochschild�s Selene processing plant to accommodate the increase in mine production will be funded 100% by Hochschild, with a corresponding increase per tonne in the toll processing fee to US$24.47 per tonne of ore charged to the Pallancata Mine.

 

IMZ uses an equity accounting basis to record its interest in the Pallancata Mine and will report its financial results for its fiscal first quarter 2009 (which ended September 30, 2008) by November 14, 2008.

 

As a result of the ongoing aggressive capital expansion program, to date there have been no cash dividends distributed to the Pallancata joint venture partners. Cash dividends, however, are expected to commence in the second half of calendar year 2009, dependent upon metal prices and capital cost requirements.

 

The technical information reported in this news release was reviewed by IMZ�s Qualified Person, Technical Manager Nick Appleyard.

 

Hochschild Mining plc does not accept any responsibility for the adequacy or inadequacy of the disclosure made in this news release and any such responsibility is hereby disclaimed in all respects.

 

For additional information, contact Wendy Yang at (1) 303-357-4863

                Internet Site: http://www.intlminerals.com       E-mail:information@intlminerals.com

 

Cautionary Statement:

The Gold Institute calculation of Total Cash Costs is a non-Canadian GAAP financial measure, which IMZ management believes is useful in measuring operational performance. Some of the statements contained in this release are �forward-looking statements� within the meaning of Canadian securities law requirements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding timing and scale of production and processing, estimated expansion costs and inventory estimate. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of production and processing rates; risks of cost overruns and completion delays; risks of capital cost increases; and other risks and uncertainties detailed in the Company�s Renewal Annual Information Form for the year ended June 30, 2008, which is available at www.sedar.com under the Company�s name. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

International Minerals Corporation
7950 E. Acoma Drive, Suite 211
Scottsdale, AZ 85260
U.S.A.
Tel: (480) 483-9932 � Fax: (480) 483-9926

International Minerals Corporation

PRODUCTEUR
CODE : IMZ.TO
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Intl. Minerals est une société de production minière basée aux Etats-Unis D'Amerique.

Intl. Minerals est productrice d'argent et d'or au Perou, en développement de projets d'argent, de cuivre et d'or au Perou et en Equateur, et détient divers projets d'exploration en Equateur.

Son principal projet en production est PALLANCATA au Perou et ses principaux projets en développement sont RIO BLANCO - ALEXANDRA NORTH, RIO BLANCO - SAN LUIS et GABY en Equateur et INMACULADA au Perou.

Intl. Minerals est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 270,7 millions CA$ (252,7 millions US$, 183,7 millions €).

La valeur de son action a atteint son plus bas niveau récent le 01 juin 2001 à 0,82 CA$, et son plus haut niveau récent le 29 avril 2011 à 8,00 CA$.

Intl. Minerals possède 95 653 001 actions en circulation.

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Rapports annuels de International Minerals Corporation
2008 Annual report
Renewal Annual Information Form 2007
Nominations de International Minerals Corporation
08/04/2010Appointment of New VP
Rapports Financiers de International Minerals Corporation
30/09/2013Reports Operating and Financial Results for the Fiscal Year ...
16/05/2013Reports Third Fiscal Quarter Ending March 31=2C 2013 Financi...
12/08/2010(Pallancata)Reports Strong Pallancata Mine Operating Results
17/11/2009(Pallancata)First Quarter Net Income of $1.2 Million; Net Equity Earning...
24/08/2009(Pallancata)IMZ Reports Strong Pallancata Operating Results & Initial US...
18/11/2008Sept. 30, 2008 Financial Results
20/05/2008 Realizes $4.12 Million ($0.04 per share) in Net Income for ...
Projets de International Minerals Corporation
17/07/2013s 2013 Cost Reduction Plans and Project Updates
25/06/2013Closes Sale of Rio Blanco Property in Ecuador
25/03/2013(Inmaculada)Announces Closing of $140 Million Loan Facility for Inmacula...
02/11/2012s Development of Goldfield Property
11/01/2012(Inmaculada)IMZ Announces Positive Feasibility Study at Inmaculada Gold-...
28/07/2010(Inmaculada)Reports New High-Grade Drill Results
05/05/2010(Inmaculada)New Drill Results
30/04/2010(Pallancata)Quarterly Production
26/03/2010(Pallancata)Reports Updates Reserve/Resource Estimates at Pallancata Sil...
24/02/2010(Pallancata)Record Production
04/02/2010(Inmaculada)Increased Resource Estimate at Inmaculada Project
12/11/2009(Pallancata)Record Quarterly Production at Pallancata Mine, Peru
16/07/2009(Pallancata)IMZ Update at Pallancata Mine, Peru and Gaby project, Ecuado...
23/05/2009(Pallancata)Got Gold? IMZ Reserves at 1M gold equiv oz. Investing in Gol...
15/05/2009(Pallancata)IMZ Announces 1st Quarter Production Results- Pallancata Min...
19/02/2009(Rio Blanco - San Luis)Updated Costs at Rio Blanco
17/02/2009(Pallancata)Record Production from Pallancata Mine, Peru
26/01/2009(Gaby)IMZ Announces Optimization Study Results-Gaby Project, Ecuad...
05/11/2008(Pallancata)Q3 Production Results for Pallancata Mine, Peru
02/10/2008(Pallancata) Reports Low Cash Costs at Pallancata Silver Mine, Peru
25/08/2008(Pallancata) Announces Major Increase in Reserves at Pallancata Mine
24/07/2008(Pallancata)Strong Production Results from Pallancata Mine
24/06/2008(Rio Blanco - Alexandra North)Reports High-Grade Gold Drill Results at Rio Blanco Project
Communiqués de Presse de International Minerals Corporation
19/09/2013Provides Gemfield Permitting Update and Earnings Guidance fo...
18/06/2013Announces Update of Feasibility Study at Goldfield=2C Nevada
02/05/2013Provides Earnings Guidance for Third Fiscal Quarter Ending M...
15/03/2013(Pallancata)s Reserve and Resource Estimates at Pallancata Silver Mine
14/02/2013Reports Second Fiscal Quarter Ending December 31, 2012 Finan...
30/01/2013(Pallancata)Reports Production Results From Pallancata Mine for Quarter ...
07/11/2012Provides Earnings Guidance for First Fiscal Quarter Ended Se...
17/07/2012Announces Positive Feasibility Study at Goldfield Gold Proje...
30/05/2012IMZ Reports Drill Results from Converse Project, Nevada
23/05/2012Announces Closing of Sale of Ruby Hill Royalty
15/05/2012Reports $6.8 Million in Pre-Tax Income for Third Fiscal Quar...
12/04/2012(Pallancata)IMZ Updates Reserve & Resource Estimates at Pallancata Mine,...
11/04/2012(Pallancata)s Reserve and Resource Estimates at Pallancata Silver Mine
20/03/2012Announces Metallurgical and Drill Results From Goldfield Pro...
15/02/2012IMZ Reports $12M in Pre-Tax Income for Quarter Ended Dec 31,...
14/02/2012Reports $12.0 Million in Pre-Tax Income for Second Fiscal Qu...
20/12/2011IMZ Announces Positive Preliminary Economic Assessment at Co...
15/12/2011IMZ Reports $15.2M in After-Tax Net Income for Quarter Ended...
29/11/2011Reports Drilling and Metallurgical Results From Converse Gol...
12/10/2011to Repurchase Shares
28/09/2011Reports Record Earnings of $58.4 Million Pre-Tax Net Income ...
24/08/2011Reports Increased Resource Estimate at Converse Gold Project...
18/08/2011on Rio Blanco Contract Negotiations With Ecuadorian Governme...
06/07/2011IMZ Reports Drill Results from Converse Project, Nevada
05/07/2011Reports Drill Results From Converse Project, Nevada, Includi...
01/07/2011IMZ Announces Expiry of Agreements with Chinese Company
17/06/2011IMZ Announces Drill Results from Goldfield Project, NV
17/05/2011IMZ Reports $12.9 Million in Pre-Tax Net Income for 3rd Fisc...
07/04/2011(Pallancata)IMZ Updates Reserve and Resource Estimates at Pallancata Sil...
25/02/2011(Inmaculada)IMZ Reports Increased Resources at Inmaculada Project
24/02/2011Reports Increased Resource Estimate at Inmaculada Gold-Silve...
15/02/2011IMZ Reports Record Net Income for Quarter Ended Dec 31, 2010
21/05/2010Commences Drilling at Goldfield, Nevada
18/05/2010US$3.3 Million Net Income for Third Fiscal Quarter
20/01/2010Drill Results for Recently Acquired Inmaculada Project
13/01/2010Completes Transaction to Acquire Ventura Gold
18/12/2009Ventura Shareholders Approve Arrangement Agreement
17/12/2009Resignation of VP
29/09/2009IMZ Year-End Financials Web Links
12/09/2009Webcasts from Denver Gold Forum & CEO Interview
20/08/2009IMZ Included in Swiss Performance Index of SIX
20/05/2009IMZ Reports Net Income of US$2.0 million for 3rd Quarter End...
20/02/2009Meet International Minerals' CEO Steve Kay at BMO Conference
18/02/2009Net Income $4.8M ($0.05 per share) for Fiscal 2Q
18/12/20082008 Review and 2009 Business Plans
30/09/2008 Reports Strong Year-End Balance Sheet
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