IMPACT Silver Corp. Announces Financial and Production Results for the Second Quarter and Half Year 2013

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[{"type":"text","content":"IMPACT Silver Corp. Announces Financial and Production Results for the Second Quarter and Half Year 2013(via Thenewswire.ca)\n\n \nTrading Symbol: \"IPT: TSX.V\"\n\n \n \nIMPACT Silver Corp. (\"IMPACT\" or the \"Company\") announces the unaudited financial and production results for the second quarter and half year ended June 30, 2013. \n\n \n \nFred Davidson, President and CEO, stated, \"At the six month mark in 2013, our tonnage, silver production and grades have increased considerably compared to this time last year. We have achieved advancing two mines into initial production this year, which are now beginning to feed higher grade silver to both of our production centres, and we did that with internal cash flow and capital. For the balance of 2013, we will focus exploration on our known higher grade zones and improving the optimization of the Capire pilot plant towards the potential expansion of the open pit mine and production centre.\"\n\n \n \nHalf Year 2013 Summary \n\n \n \n-Revenues for the first half of the year totaled $8.0 million, a slight decrease from $8.1 million in the first half of 2012.\n\n\n \n-Operating expenses increased by 32% to $5.8 million, compared to $4.4 million in the comparable period of 2012. \n\n\n \n-Mine operating earnings amounted to $1.2 million in the first half of the year, compared to $2.9 million in the comparable period of 2012. \n\n\n \n-Losses for the first half of 2013 were $2.6 million, largely attributable to increased operating costs, increased non-cash share-based payments expense and a non-cash write-down of $0.6 million in the carrying value of an investment in the shares of Defiance Silver Corp.\n\n\n \n-Cash and cash equivalents totaled $10.0 million at June 30, 2013, compared to $16.0 million at December 31, 2012. Cash was reduced as a result of investments made to complete the Capire Production Centre and to further the Company's active drilling exploration program.\n\n\n \n-Cash flows from operations before changes in non-cash working capital were $0.6 million, compared to $1.9 million in the comparable period in 2012.\n\n \n \nSecond Quarter 2013 Highlights\n\n \n \n-Revenues totaled $3.8 million, a 4% increase from $3.6 million in the comparable period in 2012. \n\n\n \n-Mine operating earnings were $0.1 million, compared to $1.3 million in the second quarter of 2012. \n...

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