Business
IMPACT SILVER ANNOUNCES RECORD NET EARNINGS UP 75% IN 2009
IMPACT SILVER ANNOUNCES RECORD NET EARNINGS UP 75% IN 2009
About this update from Impact Silver Corp.
[{"type":"text","content":"\nIMPACT SILVER ANNOUNCES RECORD NET EARNINGS UP 75% IN 2009\n\n\n Apr. 8, 2010 (TheNewswire.ca) -- IMPACT Silver Corp. (\"the Company\" or \"IMPACT\") is pleased to announce the audited financial results for the Company's year ending December 31st, 2009. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's website at www.impactsilver.com or on SEDAR at www.sedar.com.2009IGHLIGHTS-Net earnings for the year reached $1.16 million, up 75% from $0.66 million in 2008.-Mine operating earnings were $4.2 million, up 90% from $2.2 million in 2008.-Silver production for the year reached 823,571 oz, up 30% from 635,668 oz in 2008 and 136% from 348,949 oz in 2007.-Revenues for the year reached $12.2 million, up 37% from $8.9 million in 2008.-Cash flows from operations before changes in non-cash working capital were $3.8 million, up 72% from $2.2 million in 2008.-Revenue per production tonne sold for the year reached $109.51, up 22% from $89.89 in 2008, while direct costs per tonne produced increased marginally by 10%.-After investing $4.5 million in property, plant and equipment, resource properties and exploration during 2009, the Company had cash and cash equivalents of $5.3 million, down marginally from $5.4 million in 2008.KEY ACCOMPLISHMENTS-Completed initial NI 43-101 Mineral Resource Estimate for Capire & Aurora 1 Project in the Mamatla Silver District, totaling 7.2 million oz silver, 94.3 million lbs zinc and 38.8 million lbs lead. (See news release dated November 19, 2009).-Announced positive production decision at the Noche Buena project. Third new mine discovered by the IMPACT team from discovery hole to production stage within 15 months. (See news release dated March 4, 2010).PRODUCTIONThree months ended Year endedDec 31/09 Dec 31/08 % Change Dec 31/09 Dec 31/08 % Change\nTotal tonnes (t) produced 28,921 26,343 +10% 114,340 102,426 +12% \nTonnes produced per day 314 286 +10% 313 280 +12% \nSilver production (oz) 160,613 213,876 -25% 823,571 635,668 +30% \nLead production (t) 206 257 -20% 969 813 +19% \nZinc production (t) 279 300 -7% 1,098 1,053 +4% \nRevenue per production (t) sold ($CAD) $91.08 $86.03 +6% $109.51 $89.89 +22% \nDirect costs per tonne produced ($CAD) $65.02 $56.82 +14% $60.39 $54.80 +10% \nDuring 2009, Chivo Mine provided 80% (2008 - 60%) of mill ...