- IMPACT Silver (IPT) ended the third quarter with $13.7 million in revenue for the first three quarters of 2021
- Revenue for Q3 was $4.1 million compared to $4.8 million in 2020
- The decrease was due to lower silver grades and tonnage this quarter as the company focused on developmental work at the Guadalupe mine
- The company reported a small increase in mill throughput compared to the previous year
- IMPACT Silver is a Canadian silver explorer and producer with operations throughout Mexico
- Shares in IMPACT Silver Corp. (IPT) are down 3.33 per cent, trading at $0.58 per share
IMPACT Silver (IPT) ended the third quarter with $13.7 million in revenue for the first three quarters of 2021.
After investing $3.0 million in exploration expenditures and mining assets during the year to date, the cash position remained strong at $21.5 million with working capital of $22.1 million for the year.
Revenue for Q3 was down compared with Q3 2020, coming in at $4.1 million compared to $4.8 million in 2020. The decrease was due to lower silver grades and tonnage this quarter as the company focused on developmental work rather than production tonnage.
The company ended the quarter with a positive net income of $0.03 million, which was also lower than Q3 2020 due to the lower silver grades.
Although the average mill feed grade was 6 per cent lower than in 2020, the company reported a small increase in mill throughput compared to the previous year, with 34,587 coming through the mill this quarter.
As the company stepped up exploration and development at the Guadalupe mine, its direct costs per production tonne were $91.31 in Q3. The year-to-date costs per tonne are $82.60.
At Guadalupe, work is underway to ramp production capacity back up to pre-pandemic levels as supply chain and pandemic protocols wind down.
On further exploration news, a fourth drill rig has been added to the company-owned fleet and drilling plans have been expanded to 20,000 meters through 2022.
This will include follow-up on recent drilling successes at Guadalupe and Pachuqueno that included 2,186g/t silver over 3.38 metres.
IMPACT Silver is a Canadian silver explorer and producer with operations throughout Mexico.
Shares in IMPACT Silver Corp. (IPT) are down 3.33 per cent, trading at $0.58 per share as of 10:13 am ET.