Business
IMPACT Silver Announces Fourth Quarter and Year Ended December 31, 2015 Financial and Production Results
IMPACT Silver Corp. ("IMPACT" or the "Company") (TSX VENTURE:IPT) announced today its financial and production results for the three and twelve months ended Dec
About this update from Impact Silver Corp.
[{"type":"text","content":"IMPACT Silver Corp. (\"IMPACT\" or the \"Company\") (TSX VENTURE:IPT) announced today its financial and production results for the three and twelve months ended December 31, 2015. IMPACT is celebrating 10 years of continuous production at the Royal Mines of Zacualpan Silver District. In the fourth quarter of 2015 with rising grades and tonnage processed and despite lower silver prices, the Company succeeded in generating a profit after tax of $168,212 compared to a loss of $598,406 in the fourth quarter of 2014, a substantial achievement in light of the current market conditions for its principal products. The loss for the year was $1,427,838 compared to $3,486,754 in 2014. Fred Davidson, President and CEO, stated, \"Our production performance during the fourth quarter 2015 continues to demonstrate IMPACT Silver's success and viability as a proven explorer and producer as it continues to manage its costs and mining grades. With a decade of production history, this quarter we continue to generate some of the highest grades in the Company's history at 190 g/t silver. Despite lower silver prices persisting in 2015, our focus on profitability and higher grade zones of silver especially at San Ramon and Mirasol resulted in revenue per tonne of $91.68 compared to $68.75 in the comparative quarter for 2014. IMPACT is currently free from long-term debt and our operations are primarily funded by production cash flow. However, if the price of silver remains at current low levels, the Company may consider opportunities to improve its balance sheet and fund future developments through financing and/or acquisition or merger.\" For the Three Months Ended December 31 For the Year Ended December 31 Canadian $ (000) 2015 2014 2015 2014 Revenue for the Period 3,883 3,132 14,638 12,009 Mine operating income after amortization and depletion 163 (552 ) (101 ) (2,572 ) Income (loss) before taxes (111 ) (1,275 ) (1,659 ) (4,630 ) &n...