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IMPACT SILVER ANNOUNCES THIRD QUARTER RESULTS, NET EARNINGS YEAR TO DATE UP 27%
IMPACT SILVER ANNOUNCES THIRD QUARTER RESULTS, NET EARNINGS YEAR TO DATE UP 27%
About this update from Impact Silver Corp.
[{"type":"text","content":"\nIMPACT SILVER ANNOUNCES THIRD QUARTER RESULTS, NET EARNINGS YEAR TO DATE UP 27%\n\n\n Nov. 26, 2010 (TheNewswire.ca) -- NEWS RELEASE\nIMPACT Silver (TSXV:IPT) Corp.For release: November 26, 2010TRADING SYMBOL: \"IPT: TSX.V\"IMPACT SILVER ANNOUNCES THIRD QUARTER RESULTS, \nNET EARNINGS YEAR TO DATE UP 27%IMPACT Silver Corp. (\"the Company\" or \"IMPACT\") is pleased to announce results for the third quarter ending September 30, 2010.THIRD QUARTER 2010 HIGHLIGHTS-Revenues for the quarter reached $3.2 million, excludes $1.5 million in estimated net realizable valued concentrate in inventories. Revenue for the first nine months reached $9.9 million.-Net earnings for the quarter reached $0.4 million ($0.01 per share), or $1.3 million ($0.03 per share) for the first nine months, up 27% from the comparative period ended September 30, 2009.-Mine operating earnings for the quarter reached $1.3 million, or $3.9 million year to date, up 4% from the nine months ended September 30, 2009.-Silver production for the quarter reached 186,233 oz, down 14% from the same period in 2009.-The average mill throughput in the third quarter was 387 tonnes per day (\"tpd\"), up 26% from 307 tpd in the third quarter 2009 and up 7% from the prior quarter despite weather conditions.-Cash flows from operations before changes in non-cash working capital were $1.0 million.-After investing $4.1 million in property, plant and equipment, resource properties and exploration during the first nine months of 2010, the Company's financial position remained strong at $2.9 million in cash and cash equivalents, $5.6 million in working capital with no long term debt.-Subsequent to quarter end, the Company was pleased to announce a private placement offering of units to raise up to $12.5 million on a reasonable efforts basis, due to overwhelming interest was oversubscribed and increased to $15 million.FINANCIAL SUMMARY ($CDN)\n\n--------------------------------------------------------------------\n| |Three months |Nine months |\n| |ended September 30 |ended September 30 |\n| |---------------------------------------|\n| |2010 |2009 |2010 |2009 |\n|------------------------------------------------------------------|\n|Revenues |3,208,502|4,982,569|9,857,851|9,842,963|\n|------------------------------------------------------------------|\n|Mine Operating Earnings |1,280,619|1,...