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John Shanahan, President and CEO stated, "We remain committed to being the safest and best mining operation that we can be and continue to be confident that we will return to full operations soon. Despite the challenges near year-end, the correct operating decisions were made with safety and the longevity of the Troy Mine in mind. The Troy Mine remains our bridge to Rock Creek and we remain focused on realizing our objective to becoming a major US based producer of silver and copper."
Production Summary
---------------------------------------------------------------------------- Fourth Quarter Full Year---------------------------------------------------------------------------- 2012 2011 2012 2011----------------------------------------------------------------------------Mill Production----------------------------------------------------------------------------Mill Feed (st) 204,969 378,723 1,194,871 1,416,572----------------------------------------------------------------------------Mill Feed Rate (stpd) 3,203 4,208 3,588 3,957----------------------------------------------------------------------------Silver----------------------------------------------------------------------------Feed Grade - Oz/Ton Ag 0.94 0.94 1.08 1.07----------------------------------------------------------------------------Mill Recovery - Ag 83.27% 84.13% 86.08% 84.85%----------------------------------------------------------------------------Recovered Ounces 161,133 300,420 1,112,089 1,291,010----------------------------------------------------------------------------Copper----------------------------------------------------------------------------Feed Grade - % Cu 0.32% 0.38% 0.38% 0.46%----------------------------------------------------------------------------Mill Recovery - Cu 77.07% 82.01% 82.53% 82.02%----------------------------------------------------------------------------Recovered Pounds 1,007,982 2,352,307 7,555,215 10,651,494--------------------------------------------------------------------------------------------------------------------------------------------------------Concentrate Inventory----------------------------------------------------------------------------- Dry Short Tons 163 457---------------------------------------------------------------------------- - Silver (oz) 14,958 37,565---------------------------------------------------------------------------- - Copper (lbs) 121,558 328,331--------------------------------------------------------------------------------------------------------------------------------------------------------Sales---------------------------------------------------------------------------- - Silver (oz) 137,292 378,786 1,010,752 1,136,843---------------------------------------------------------------------------- - Copper (lbs) 970,954 3,221,206 7,304,096 10,157,018--------------------------------------------------------------------------------------------------------------------------------------------------------Net Cash from Operations(1) $0.2m $10.2m $18.7m $28.2m----------------------------------------------------------------------------
