🕐27.05.14 - 23:27 Uhr
IMPACT SILVER ANNOUNCES FIRST QUARTER 2014 FINANCIAL AND PRODUCTION RESULTS
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IMPACT Silver Announces First Quarter 2014 Financial and
Production Results
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IMPACT Silver Corp.
("IMPACT" or the "Company") announced today its
financial results for the three months ended March 31, 2014.
The
information in this news release should be read in conjunction with the
Companys unaudited condensed consolidated interim financial statements
and Managements 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 March 31, 2014
Financial Overview
Production Overview
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 Companys
principal producer, as well as strong contributions from the San Ramon
and Noche Buena mines.
Grades were lower in the quarter at 137 g/t
compared with 146 g/t for the same period in 2013.
With production
materials being drawn from several mines with different feed grades,
mine production can vary from quarter to quarter.
However, with the
Cuchara-Oscar Mine developing into higher grade mineral, the Company
expects an increase in grades going forward in 2014.
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
February 2014.
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 March 31, 2014, will be available on
the Company website on Tuesday, May 28, 2014, at
www.impactsilver.com/s/ConferenceCalls.asp.
IMPACT Silver Corp.
owns two processing plants within its 100% owned
623-square-kilometer land package in south-central Mexico: the
Guadalupe Production Centre and the Capire Processing Plant.
At
Guadalupe, three underground silver mines feed the central 500 tpd
processing plant located within the historic Royal Mines of Zacualpan
Silver District.
At Capire, the 200 tpd processing plant is being
adapted to process gold and copper mineralization from the Carlos
Pacheco/San Juan Project.
Additional information about IMPACT and its
operations can be found on the Company website at www.IMPACTSilver.com.
On behalf of IMPACT Silver Corp.,
"Frederick W.
Davidson"
President & CEO
For more information, please contact:
Jerry Huang
Investor Relations Manager
(604) 681 0172 or
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.Forward-Looking Statements
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.
Associated File:
http://www.impactsilver.com/i/pdf/2014-05-27_NR.pdf
28 KB in size, approx.
6 seconds to download at 56.6Kbps
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Copyright (c) 2014 IMPACT SILVER CORP.
(IPT) All rights reserved.
For
more information visit our website at http://www.impactsilver.com/ or
send mailto:
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