Business
Telson Announces Financial and Operating Results for the 1st Quarter 2021
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2021) - Telson Mining Corporation (TSXV...
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[{"type":"text","content":"Telson Announces Financial and Operating Results for the 1st Quarter 2021Vancouver, British Columbia--(Newsfile Corp. - May 28, 2021) - Telson Mining Corporation (TSXV: TSN) (OTC Pink: SOHFF) (FSE: TSGN) (\"Telson\" or the \"Company\") is pleased to announce the three months ended March 31, 2021 (\"Q1 2021\") management prepared financial results reflecting a $5.25 million operating profit, which reflects steady quarter over quarter improved operating results over the last year of operations at the Company's Campo Morado Mine. All financial information included in this release are reported in Canadian dollars, unless otherwise stated.Q1 2021 Financial Highlights Mine quarterly operating profit substantially increased to $5.25M compared to a $0.26M loss during Q4 2020.Gross Revenue increased to $21.2M compared to $19.0M during Q4 2020. C1 Cash Cost improved to US$0.72/lb Zn, 43% improvement compared to US $1.28/lb Zn in Q4 2020.All-In Sustaining Costs reduced 35% to US $0.90/lb Zn, compared to US $1.39/lb Zn in Q4 2020.Basic Earnings per share was positive $0.02 per share compared to a loss of $0.06 per share in Q4 2020.Q1 2021 Operational HighlightsTotal ore processed increased to 174,382 tonnes compared to 168,310 tonnes in Q4 2020.Zinc concentrate production increased to 11,013 tonnes compared to 9,974 tonnes in Q4 2020.Average realized zinc price per tonne increased to US$2,687 per tonne compared to US$2,360 per tonne in Q4 2020.Zn recoveries improved to 74% compared to 69% in Q4 2020.To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/7883/85638_3042efe744953a59_001full.jpgThe increased operating profit was a result of significantly decreased C1 Cash Costs and All in Sustaining Costs which are a result of management implemented efficiencies in operations and costs reductions at the mine. \"I am pleased to see that all the hard work is paying off\" stated Omar Garcia Abrego, the Company's CFO \"Campo Morado operating figures have improved significantly over the last year, this along with cost reduction initiatives and increased metal prices have resulted in strong results reported for Q1 2021. Overall, the Company is now well positioned to have a very successful year with funding secured for the completion of Tahuehueto's mine construction and the pending restructure of the Company'...