Business
IMPACT Silver Announces Second Quarter 2021 Results Including Net Earnings of $ 0.22 Million and a 50 Percent Increase in Revenue to $4.2 Million
Vancouver, British Columbia--(Newsfile Corp. - August 18, 2021) - IMPACT Silver Corp. (TSXV: I...
About this update from Impact Silver Corp.
[{"type":"text","content":"IMPACT Silver Announces Second Quarter 2021 Results Including Net Earnings of $ 0.22 Million and a 50 Percent Increase in Revenue to $4.2 MillionVancouver, British Columbia--(Newsfile Corp. - August 18, 2021) - IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) (\"IMPACT\" or the \"Company\") announces its financial and operating results for the second quarter ended June 30, 2021. The Company reported $4.2 million in revenue for the second quarter of 2021, a 50% improvement year over year from $2.8 million in Q2 2020. Mine operating earnings before amortization and depletion in Q2 2021 increased to $1.3 million from $1.0 million in the prior year. Cash generated by operating activities improved to $1.1 million from $0.2 million in Q2 2020, and EBITDA (earnings before interest, taxes, depreciation and amortization) increased 300% from $0.2 million in Q2 2020 to $0.8 million in the current quarter. The net income for Q2 2021 was $0.2 million compared to a loss of $0.2 million in Q2 2020.Fred Davidson, President & CEO of IMPACT, stated, \"In Q2 2021 the market realized a more rational price range for silver after the first quarter rush to metal equities from retail investors thanks to the Silver Squeeze trend. With ongoing operational efficiencies, we continue to demonstrate IMPACT's earnings potential and continue to evaluate brownfield development targets to advance to production. This quarter marks a full year since the start of the COVID-19 global pandemic and the temporary suspension and restart of operations in Mexico in Q2 2020. On the exploration front we continue to push on new greenfield targets with recent drilling successes at Veta Negra and we anticipate further drilling updates soon on other targets. With ongoing production cash flow, a cash balance of $22.4 million, and no long-term debt, IMPACT continues to monitor the market for suitable strategic transactions while generating new value through discovery.\"Q2 2021 Financial OverviewRevenue for Q2 2021 was $4.2 million, an increase of 50% from 2020 of $2.8 million.EBITDA was $0.8 million for quarter, a substantial increase over $0.2 million for comparable period in 2020. Mine operating earnings before amortization and depletion for Q2 2021 were $1.3 million, improving from $1.0 million in 2020. Net income for the quarter was $0.2 million compared to a loss of $0....