Q2 2024 Impact Silver Corp Earnings Call (Pre Recorded) Transcript
Key Points
- Revenue increased significantly to $7.7 million from $5.5 million in the comparable period last year.
- The company raised a net $8.8 million, which was used to refurbish cash reserves and fund aggressive drilling activities.
- Over 20,000 meters of drilling were completed in the first six months, indicating a strong commitment to exploration.
- The average zinc grade was 14%, lead was 8.7%, and silver was 43.7%, among the highest for zinc mines.
- The company maintains excellent working capital with no long-term debt, indicating a prudent balance sheet.
- The net loss was $2.6 million, influenced by deferred income taxes and foreign exchange expenses.
- Production at the Zacualpan mine was lighter due to necessary shaft repairs, impacting output.
- There was a 70% increase in direct costs per ton, partly due to a union settlement and strong Mexican peso.
- The Plomosas mine is running 6-8 months behind in development due to challenging ground conditions.
- Gold and lead production dropped significantly, with gold down 70% and lead down 34% this quarter.
Good day, ladies and gentlemen. Welcome to the Impact Silver Corp Q2 2024 ending June 30, 2024 financial and production results conference call. Before we begin, we would like to go over our disclosure statement, followed by Mr. Fred Davidson comments on the quarter results and the Q&A period.
Certain statements in the following conference call regarding Impact Silvers core business operations may constitute forward-looking statements. Such statements are not historical facts, but are predictions of future, which involve risks, uncertainties and could cause actual results to differ materially from those in the forward-looking statement. I would like to now turn it over to President and CEO of Impact Silver, Mr. Fred Davidson.
Thanks, Jerry. This has really been quite entertaining quarter for us. It's very definitely transitional. And first of all, let me sort of summarize it and then get
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
