IMPACT Silver Corp. (TSXV:IPT) announced its unaudited financial and production results for the second quarter and first half of 2013, commenting that its Q2 revenue came to $3.8 million, up 4 percent from the year-ago period. The company’s silver production rose 20 percent from Q2 2012, hitting 185,998 ounces.
Other results highlights include:
- Mine operating earnings were $0.1 million, compared to $1.3 million in the second quarter of 2012.
- Net loss after taxes amounted to $1.9 million, attributable to an increase in operating costs due to retroactive payments to union workers and higher mining costs as initial production began at the Cuchara-Oscar and Capire Mines.
- Cash flows from operations before changes in non-cash working capital were $(0.2) million and net working capital remained strong at $12.7 million, subsequent to spending $1.4 million on exploration and development of the Company’s properties and $2.2 million on property, plant and equipment.
- Average mill feed grade for silver increased by 12% to 163 grams per tonne (g/t) compared to 145 g/t in the second quarter of 2012.
- Gold production totaled 360 ounces, a 126% increase from 159 ounces in the second quarter of 2012.
- Total tonnes milled during the quarter increased by 6% to 42,086 from 39,813 in the comparable period in 2012.