IMPACT Silver Announces First Quarter 2013 Financial and Production Results

About this update from Impact Silver Corp.

[{"type":"text","content":"IMPACT Silver Announces First Quarter 2013 Financial and Production Results(via Thenewswire.ca)\n\n \nTrading Symbol: \"IPT: TSX.V\"\n\n \n \nIMPACT Silver Corp. (\"IMPACT\" or the \"Company\") announces the financial and production results for the first quarter of 2013. \n\n \n \nLate in the first quarter of 2013, IMPACT began initial production from both the Cuchara-Oscar Mine and the Capire Mine. Upon commencing initial production, the first 30 days of mining from Cuchara-Oscar and Capire was development muck, with the expectation of mining higher grade material later in 2013. Despite this, IMPACT's prudent operations resulted in ending the first quarter with positive cash flow before changes in non-cash working capital and a strong working capital balance of $16.8 million. \n\n \n \nIMPACT's President and CEO, Fred Davidson, stated, \"Silver production is expected to increase quarter over quarter as we progress through 2013, and with both of the new mines now in initial production, we are able to focus on our next catalyst for growth, Zacualpan's Mirasol Prospect, which has shown promising exploration results and may be the next mine project\". As part of an ongoing three-part strategy of exploration, development and mine production, IMPACT has established three key objectives to drive production and exploration success in 2013:\n\n \n \n-Optimization of the Capire Production Centre to define the parameters for the future expansion of the open-pit mine and processing plant;\n\n \n \n-Exploration across the large land package, focusing on expanding the Capire deposit and the gold-copper zones in the Valle de Oro subdistrict; and,\n\n \n \n-Determine the economic potential for the recently discovered Mirasol Prospect for future mine development and production.\n\n \n \nFirst Quarter 2013 Financial and Production Summary\n\n \n \n-Losses before taxes for the three months ended March 31, 2013, were $0.3 million compared to earnings before taxes of $0.2 million for the same period of 2012.\n\n \n \n-Revenues for the first quarter of 2013 were $4.2 million, a decrease from $4.5 million in the first quarter of 2012.\n\n \n \n-Mine operating earnings for the first quarter of 2013 were $1.1 million, a decrease from $1.6 million in the first quarter of 2012 but an increase from $0.5 million in the fourth quarter of 2012. \n\n \n \n-Ca...

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