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.
