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IMPACT SILVER ANNOUNCES FIRST QUARTER REVENUES UP 154%, MINE OPERATING EARNINGS UP 101%
IMPACT SILVER ANNOUNCES FIRST QUARTER REVENUES UP 154%, MINE OPERATING EARNINGS UP 101%
About this update from Impact Silver Corp.
[{"type":"text","content":"\nIMPACT SILVER ANNOUNCES FIRST QUARTER REVENUES UP 154%, MINE OPERATING EARNINGS UP 101%\n\n\n May 27, 2010 (TheNewswire.ca) -- IMPACT Silver Corp. (\"the Company\" or \"IMPACT\") is pleased to announce the results for the first quarter ending March 31, 2010.FIRST QUARTER 2010 HIGHLIGHTS-Revenues for the quarter reached $3.7 million, up 154% from $1.5 million in first quarter 2009.-Mine operating earnings for the quarter reached $1.5 million, up 101% from $0.7 million in first quarter 2009.-Net earnings for the quarter reached $0.6 million, up 839% from $0.07 million in first quarter 2009.-Silver production for the quarter reached 173,877 oz., down 24% from 229,710 oz. in first quarter 2009, however, up 8% from the prior quarter.-Silver sales for the quarter reached 216,966 oz., up 114% from 101,476 oz. in first quarter 2009, and up 54% from the prior quarter.-Revenue per production tonne sold for the quarter reached $112.13, down 14% from $129.69 in first quarter 2009, however, up 23% from the prior quarter. Direct costs per tonne produced increased marginally by 3% to $54.98.-Cash flows from operations before changes in non-cash working capital were $1.4 million, up 161% from $0.5 million in first quarter 2009.-Cash and cash equivalents at $4.2 million, working capital at $6.1 million and no long term debt.PRODUCTION AND SALES\nThree months ended Mar 31, 2010 Mar 31, 2009 Dec 31, 2009 \nTotal tonnes (t) produced 29,094 29,569 28,921 \nTonnes produced per day (tpd) 323 329 314 \nRevenue per production tonne sold ($CAD) $112.13 $129.69 $91.08 \nDirect costs per production tonne ($CAD) $54.98 $53.19 $65.02 \nSilver production (oz) 173,877 229,710 160,613 \nLead production (t) 207 276 206 \nZinc production (t) 272 343 279 \nSilver sales (oz) 216,966 101,476 140,615 \nLead sales (t) 275 120 168 \nZinc sales (t) 285 nil 255 \nDespite the marginal decrease in silver production, IMPACT had a very successful first quarter. Higher silver prices coupled with the absence of a sales disruption the Company experienced with its largest customer in the first quarter of 2009, contributed to increased silver sales during the quarter producing $1.4 million in positive cash flow and net earnings of $0.6 million, compared to $0.07 million in first quarter 2009. With the significant increase in metal prices, the Company shifted production and was ...