IPT, TUO
Impact Silver aka IPT has always had a problem generating a profit from their silver mines and mills in Zacatecas, Mexico, and we see that again with the release of their Q3 results. In spite of a higher tonnage of higher grade ore mined and processed, they still manged to post a loss, which they blame on lower silver prices and higher costs. In response, they have deferred some exploration, instituted a hiring freeze and have begun making layoffs from their work force. Their balance sheet remains healthy, with $16.5M in cash and no debt, so they should do well if silver prices go on a run next year.
Message 34091947
Teuton Resources aka TUO and its JV partners released the final set of assays from this year's drill programme on the Goldstorm Au/Cu/Ag deposit on their Treaty Creek property in BC's Golden Triangle. And they closed with a bang -- all five holes, drilled outside the existing Resource Envelope, delivered long intervals of what looks like will be economic mineralization. The best hole features 1.71 g/t AuEq Over 180.0m within 489.0m of 1.12 g/t AuEq, and ended in strong mineralization. All five holes featured higher Au, Cu, and in several cases much higher Au values than the existing resource, which bodes well for the new Resource Report currently being prepared for delivery next year.
Judging by the share price, you would never know that the drill programmes carried out by TUO this year were very successful. One hope that reverses when the price of gold takes off next year.
Message 34092104 |
