|May 23, 2013|
IMPACT Silver Announces First Quarter 2013 Financial and Production Results
|IMPACT Silver Corp. ("IMPACT" or the "Company") announces the financial and production results for the first quarter of 2013. |
Late in the first quarter of 2013, IMPACT began initial production from both the Cuchara-Oscar Mine and the Capire Mine. Upon commencing initial production, the first 30 days of mining from Cuchara-Oscar and Capire was development muck, with the expectation of mining higher grade material later in 2013. Despite this, IMPACT's prudent operations resulted in ending the first quarter with positive cash flow before changes in non-cash working capital and a strong working capital balance of $16.8 million.
IMPACT's President and CEO, Fred Davidson, stated, "Silver production is expected to increase quarter over quarter as we progress through 2013, and with both of the new mines now in initial production, we are able to focus on our next catalyst for growth, Zacualpan's Mirasol Prospect, which has shown promising exploration results and may be the next mine project". As part of an ongoing three-part strategy of exploration, development and mine production, IMPACT has established three key objectives to drive production and exploration success in 2013:
George Gorzynski, P. Eng., a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.
IMPACT is a silver mining company with two production centres in central Mexico - the Guadalupe Processing Plant and Capire Processing Plant. At Guadalupe, the Company's 100% owned and operated underground silver mines feed a central 500 tpd processing plant located within the historic Royal Mines of Zacualpan Silver District. At Capire, the Company recently began initial pilot plant operations with plans to significantly expand operations. Additional information including the financial statements and Management's Discussion and Analysis can be viewed on the Company website at www.IMPACTSilver.com or on SEDAR at www.sedar.com.
On behalf of the Directors of IMPACT Silver Corp.,
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Meghan Brush, Investor Relations
(604) 681-0172 or via email at firstname.lastname@example.org
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement.
1100-543 Granville Street
Vancouver, BC, Canada V6C 1X8
Telephone 604 681-0172
Facsimile 604 681-6813
View News Release in PDF Format:
You can return to the main News Releases page, or press the Back button on your browser.