ENP Newswire -
Release date- 28052014 -
The information in this news release should be read in conjunction with the Company's unaudited condensed consolidated interim financial statements and Management's Discussion and Analysis, available on the Company website at www.impactsilver.com and on SEDAR at www.sedar.com. All amounts are stated in Canadian dollars unless otherwise specified.
Overview for the Quarter Ended
Revenues for the first quarter of 2014 were
Net loss of
Mine operating loss before amortization and depreciation of
Silver production decreased 10% to 148,696 ounces for the first quarter of 2014, down from 165,651 ounces in the same period of 2013.
Average mill feed grade for silver in the first quarter of 2014 decreased to 137 grams per tonne (g/t) from 146 g/t in the first quarter of 2013.
Total tonnes milled during the first quarter of 2013 decreased to 39,775 from 42,009 in the first quarter of 2013 but increased from the fourth quarter 2013 of 36,655 tonnes.
The shutdown of the Capire open pit was completed during the quarter. Work commenced on modification of the Capire plant which is being planned to process higher value gold and copper mineralization from the Carlos Pacheco/San Juan area later in the year.
The Cuchara-Oscar mine was put into production in
As noted, the Company increased tonnes produced in the current quarter to 39,775 over the previous two quarters of 36,655 and 38,520 for Q4 2013 and Q3 2013, respectively. This increase has been a result of additional feed from the Cuchara-Oscar mine as it becomes the Company's principal producer, as well as strong contributions from the San Ramon and
With production materials being drawn from several mines with different feed grades, mine production can vary from quarter to quarter. However, with the
In light of lower silver prices, recent Mexican mining tax changes and low overall silver grade being mined at Capire, the Company recognized that the open pit test mining operation was not economic at its present small scale. Thus, open pit operations at Capire were suspended in
The Capire plant is being reconfigured to process the gold-copper mineralization at Carlos Pacheco. However, the plant will not be reactivated until an industrial dispute with local truck haulers is resolved and metallurgical research is completed, and the Company anticipates the Capire plant will not be contributing to sales and production until later in the year.
A recorded conference call reviewing the financial and production results of the three months ended
Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com
Tel: (604) 681 0172
This IMPACT News Release may contain certain 'forward-looking' statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management.
Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events.
Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement.
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