|August 26, 2014|
IMPACT Silver Announces Second Quarter 2014 Financial and Production Results
|IMPACT Silver Corp. ("IMPACT" or the "Company") announced today its financial results for the three months ended June 30, 2014. The information in this news release should be read in conjunction with the Company's unaudited condensed consolidated interim Financial Statements and Management's Discussion and Analysis, available on the Company website at www.impactsilver.com and on SEDAR at www.sedar.com. All amounts are stated in Canadian dollars, unless otherwise specified. |
Fred Davidson, President and CEO, stated, "Our production performance during the second quarter was lower compared to Q1, mainly due to production feed drawn from several mines with different feed grades. We continue our focus to shift silver production to mines with higher grades and to control costs. We will continue to employ a disciplined and prudent approach to our mining and exploration work to position IMPACT to benefit and grow as the market continues to recover."
Overview for the Quarter Ended June 30, 2014
In light of lower silver prices, recent Mexican mining tax changes, increased hauling costs and low overall silver grade being mined at Capire, the Company recognized that the open pit test mining operation was not economic at its present small scale. Thus open pit operations were suspended in February 2014. The Capire plant was being reconfigured to process the gold-copper mineralization at Carlos Pacheco. However, the plant will not be reactivated at current metal prices and further work has been deferred.
A recorded conference call reviewing the financial and production results of the three months ended June 30, 2014 will be available on the Company website on Tuesday, August 26, 2014, at www.impactsilver.com/s/ConferenceCalls.asp.
IMPACT has control of nearly two entire mineral districts in central Mexico: the Royal Mines of Zacualpan Silver District and the Capire-Mamatla Mineral District adjacent to and southwest of Zacualpan. The Company currently produces silver with lead, zinc and gold at its 500-tpd ("tonne-per-day") Guadalupe processing plant in the Royal Mines of Zacualpan District. Additional information can be found on the Company website, www.IMPACTSilver.com.
On behalf of the directors of IMPACT Silver Corp.,
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Investor Relations Manager
(604) 681 0172 or 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, without limitations, 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.
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