IMPACT Announces Third Consecutive Profitable Quarter
Tuesday November 28, 6:36 pm ET
ca.us.biz.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 28, 2006) - IMPACT Silver Corp. (TSX VENTURE:IPT - News; "the Company") is pleased to announce its results for the quarter ended September 30, 2006. The Company's consolidated financial statements include the results of Royal Mines of Zacualpan Project ("Zacualpan") that was purchased on January 16, 2006 and assumed production on January 18, 2006. For the quarter, the Company's net revenues were $1,872,595 and Zacualpan had an operating profit of $546,959 up from $480,820 in the second quarter.
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3rd Quarter Year to Date
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Revenue $1,872,595 $4,980,703
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Net Income $ 214,899 $ 831,683
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The Company's first full day of production was January 18, 2006. Average mill throughput in the year to date was 192 tpd. Total tonnes mined since January 18 until the end of the year are forecast at approximately 67,000 tonnes or 15,000 tonnes (29%) more that the previous year's production. On site operating costs were approximately Cdn. $54.00 per ton in the third quarter.
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3rd Quarter Year to Date
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Total Tons Produced 18,705 49,150
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Tons Produced per Day 203 192
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Silver Production (Ozs) 117,381 307,007
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Lead (t) 103.36 267.98
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Zinc (t) 194.21 534.74
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Cdn. $ direct costs per ton $ 53.96 $ 58.63
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The Company's expansion and development program continued throughout the quarter with the development of a number of new working faces as well as the accessing of some historic mining stopes. These developments once again led to a significant portion of the material processed consisting of development muck. Over the next six to nine months, the Company anticipates that development muck will continue to cause fluctuating mill grades as workings are added.
Fred Davidson, President, stated, "We are pleased to report another profitable quarter while continuing substantial development and modernization work that is necessary for sustained production growth in the coming years. Very few companies our size have accomplished as much as we have in such a short time. It has been an extremely busy and successful nine months."
IMPACT Silver Corp. is a Tier 1 silver focused mining and exploration company with two producing silver mines at Zacualpan, Mexico; an advanced-stage silver project at Zacatecas, Mexico; and, other projects in the Dominican Republic. Energold Drilling Corp. (TSX VENTURE:EGD - News) owns 6.6 million shares of IMPACT.
On behalf of the Directors of IMPACT Silver Corp.
Frederick W. Davidson, President, CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Contact:
Darrell Rader
IMPACT Silver Corp.
Corporate Development
(604) 681-9501
(604) 681-6813 (FAX)
Email: inquiries@IMPACTSilver.com
Website: www.IMPACTSilver.com
Source: IMPACT Silver Corp. |
