Silvermet

Silvermet Releases 2011 Q3 Results

tracy — Tue, 29 Nov 2011 21:41:05 +0000

Highlights

Revenues in YTD-Q3 2011 increased by 15% to $12.8 million (at 100%) (Silvermet’s share – $6.3 million) from $11.2 million in YTD-Q3 2010.
The Company was cash flow positive and profitable.
Operations continued to benefit from reduced smelter treatment charges in Q3 2011.
Production in Q3 2011 reflected the stabilization of operations at 3,669 DMT (Dry Metric Tonnes zinc concentrate containing 68.5% zinc on average) compared to Q3 2010 production of 3,615 DMT.
Sales volume in YTD-Q3 2011 increased by 5% to 9,871 DMT from 9,421 DMT in YTD-Q3 2010)
Revenues in Q3 2011 decreased by 15% to $4.0 million (at 100%) (Silvermet’s share – $2.0 million) from $4.8 million in Q3 2010 reflecting effect of timing of shipments and a declining zinc price trend in Q3 2011 compared to increasing prices in Q3 2010.

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Silvermet Releases 2011 Q2 Results

admin — Mon, 15 Aug 2011 14:09:46 +0000

Highlights

Operations were cash flow positive and profitable
Benefited from reduced smelter treatment charges in Q2, 2011
Production increased by 63% to 3,400 DMT from 2,086 DMT in Q2, 2010 (Dry Metric Tonnes zinc concentrate containing an average grade of 69% zinc)
Average production increased by 63% to 1,133 DMT per month from 695 DMT per month in Q2, 2010
Sales volumes increased by 17% to 2,772 DMT from 2,372 DMT in Q2, 2010
Sales volumes increased by 10% to 6,399 DMT in H1, 2011 from 5,807 DMT in H1, 2010
Revenues increased by 82% to $3.8 million (at 100%) from $2.1 million in Q2, 2010
Completed refractory lining change with planned four week shutdown spanning March-April 2011.

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Silvermet Announces 2011 Q1 Results

admin — Mon, 27 Jun 2011 16:08:15 +0000

Highlights

Operations are cash flow positive and profitable in 2001 Q1
Production increased by 43% to 3,144 DMT (Dry Metric Tonnes zinc concentrate containing 68% zinc on average) from 2,195 DMT in Q1 2010 despite a 15 day planned shutdown in March for maintenance.
Sales volumes increased by 6% to 3,626 DMT in Q1 2011 from 3,434 DMT in Q1 2010. (Q1 2010 sales included 1,581 DMT that had been shipped to port in Q3 2009 but were not accounted for as sales until Q1 2010.)
Revenues increased by 14% to $5.0 million (at 100%) in Q1 2011 (Silvermet’s share – $2.4 million) from $4.3 million in Q1 2010.
Monthly production increased by 43% from 731 DMT per month in Q1 2010 to 1,048 DMT per month in Q1 2011.
Repaid the C $500,000 convertible debenture financing in February 2011.

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Silvermet Reports Significantly Improved Results for 2010

admin — Wed, 04 May 2011 20:15:41 +0000

Highlights

Silvermet achieved cash flow positive operations in Q3, 2010.
Silvermet signed a 51%/49% joint venture with Befesa Medio Ambiente, S.A. (“Befesa”) of Spain, and formed Befesa Silvermet Turkey S.L. (“BST”).
Production increased 110% to 11,548 DMT (Dry Metric Tonnes zinc concentrate containing 68% zinc) from 5,484 DMT in 2009.
Sales volumes increased 222% to 12,581 DMT from 3,903 DMT in 2009.
Revenues increased 251% to $15.9 million (at 100%) in 2010 from $4.5 million in 2009 due to increased shipments of zinc concentrates and higher zinc prices

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Silvermet Announces Significantly Improved 2010 Operating Results

admin — Thu, 03 Feb 2011 20:17:23 +0000

Silvermet Inc. (“Silvermet” or the “Company”) (TSXV: SYI) is pleased to announce significantly improved results for 2010 and a continuation of the third quarter improvements into the fourth quarter:

Production more than doubled to 11,605 DMT (dry metric tonnes zinc concentrate
containing 68% zinc on average) in 2010 from 5,484 DMT in 2009.
Q4 production improved to 3,709 DMT from 3,615 DMT in Q3, despite a 10 day
planned shutdown in October for maintenance.
Sales volumes tripled to 12,580 DMT in 2010 from 3,903 DMT in 2009.
Revenues more than tripled to $16.0 million in 2010 from $4.5 million in 2009 as a result of the combination of improved shipments and improved zinc prices.

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Silvermet Grants Options to New Director

admin — Thu, 25 Nov 2010 20:20:12 +0000

Silvermet Inc. (the “Company”) (TSXV: SYI) is pleased to announce that it has granted options to purchase up to an aggregate of 500,000 common shares of the Company to its newly appointed Director, Mr. Asier Zarraonandia. The stock options are exercisable at $0.15 per common share and expire on November 25, 2015, vesting immediately. The options are granted in accordance with the Company’s stock option plan and are subject to regulatory approval.

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Silvermet Reports Significantly Improved Operating Results in 2010 Q3

admin — Thu, 25 Nov 2010 14:14:16 +0000

Highlights

Revenues increased by 199% from $1.6 million in 2009 Q3 to $4.8 million in 2010 Q3.
EBITDA increased by 403% from a loss of $0.6 million in 2009 Q3 to $1.2 million in 2010 Q3
Year-to-date revenue increased by 362% while EBITDA for the first three quarters increased by 236%
Zinc production increased by 69% from 713 DMT (Dry Metric Tonnes) zinc concentrate per month in the first half of 2010 to an average 1,205 DMT per month in 2010 Q3 – production in Q3 2009 averaged 617 DMT per month
At an average zinc grade of 69% in the concentrate, Q3 production approximates 5.5 million pounds contained zinc
As announced previously, in Q3 the Company formed a joint venture with Befesa Medio Ambiente, S.A. (“Befesa”). In connection with joint venture, Befesa acquired a 10% interest in Silvermet and the joint venture began operations with $6 million cash.
12,718,000 warrants (83% of outstanding number) were exercised in September and November for proceeds of C $1,271,800

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Silvermet Announces Exercise of Warrants

admin — Mon, 08 Nov 2010 14:17:08 +0000

Silvermet Inc. (“Silvermet” or the “Company”) (TSXV: SYI) is pleased to announce that
5,725,000 of the warrants issued in connection with the May 1, 2009 private placement
have been exercised prior to their expiry on November 5, 2010. Accordingly, the Company
has issued 5,725,000 shares at $0.10 per share for total proceeds of $572,500.
With the issuance of these shares, the issued and outstanding common shares of
Silvermet have increased to 156,130,216 shares, including the 16,000,000 shares that
were issued to Befesa as part of the recent joint venture transaction.

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Silvermet Completes Joint Venture and Strategic Investment With Befesa

admin — Wed, 27 Oct 2010 14:19:07 +0000

Silvermet Inc. (“Silvermet”) (TSXV: SYI) is pleased to announce the closing of the
previously announced joint venture and strategic investment with an affiliate of Befesa
Medio Ambiente, S.A. (“Befesa”) of Erandio, Spain. As a result, the Turkish operations
are now held through the newly established joint venture company, Befesa Silvermet
Turkey, S.L. (“Befesa Silvermet”).

In forming the joint venture, Cooper Island Investments, L.L.C. (“Cooper Island”) is no
longer a participant in Silvermet’s Turkish operations. Befesa Silvermet begins operations
on a strong financial foundation with a cash balance of $6 million available to make
improvements to the existing Turkish operations.

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Silvermet Announces Joint Venture & US $10 Million Strategic Investment By Befesa

admin — Mon, 27 Sep 2010 14:20:50 +0000

Silvermet Inc. (“Silvermet”) (TSXV: SYI) is pleased to announce the signing of a definitive Investment Agreement with an affiliate of Befesa Medio Ambiente, S.A. (“Befesa”) of Erandio, Spain.

Befesa is the largest processor of electric arc furnace dust (“EAFD”) in Europe, with four Waelz kiln facilities that process 500,000 tonnes EAFD per annum, and is a global leader in technological innovations in the processing of EAFD to recover zinc. Befesa also has expertise in upgrading and building Waelz kilns that process EAFD.

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