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IMPACT Silver Celebrates 10 Year Anniversary of Continuous Production at the Royal Mines of Zacualpan Silver District and Reports Record Silver Production in 2015
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2016) - IMPACT Silver Corp. (TSX VENTURE:IPT) ("IMPACT") is pleased to report that it is celebrating 10 yea
About this update from Impact Silver Corp.
[{"type":"text","content":" VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2016) - IMPACT Silver Corp. (TSX VENTURE:IPT) (\"IMPACT\") is pleased to report that it is celebrating 10 years of continuous production this month at the Royal Mines of Zacualpan Silver District and to announce record silver production in 2015. IMPACT acquired the Royal Mines of Zacualpan Project in January 2006 as a very small and inefficient operation processing 142 tonnes per day and in need of significant capital investment and overhaul. Bringing new investment, talent and leadership to the operation, within its first year of operation IMPACT increased production to 187 tonnes per day and produced 465,673 silver ounces along with byproduct gold (237 ounces), lead (375 tonnes) and zinc (725 tonnes). Since then IMPACT has built up the operations with upgraded equipment and expanded mill facilities. All mines in production on the project today were discovered and developed by the IMPACT team. 10 Year Production and Financial Record As a testament to the value creation the IMPACT team has generated in the last decade, highlights of production and financial data over the past 10 years include: Millions of Silver Ounces Produced - Production over 10 years (2006-2015) totaled 6,836,561 ounces silver plus byproducts of 6,529 ounces gold, 6,257 tonnes lead and 8,279 tonnes zinc. Strong Revenue Performance - Total revenues of $129 million from January 2006 to September 2015 with announcement of fourth quarter 2015 revenues still pending. Exploration to Production of Five Mines - Brought five sites from exploration drilling to development and profitable mining. No Long Term Debt and Balance Sheet Strength - In an industry where production delays and cost over runs are frequent, IMPACT's team relied on operational cash flow and prudent cost control to finance operations, and quickly and efficiently put new mines into production. Today IMPACT remains debt free with a solid balance sheet and increasing production and generating mine operating income. Efficient Use of Capital Raised - Financings for the company since 2006 from private placements were $25.5M while Mine Operating Income was over $39.5M. Proceeds from placements, warrants and exercise of stock options totaled $45.1million. IMPACT has generated return on investment for initial investors and share price has seen higher leve...