Highlights (in US$)
The highlights of the Company’s Q1, 2012 results include the following (operational figures expressed at 100%):
- Silvermet is debt free. At March 31, 2012, it has cash and credit facility receivable of $4.0 million, or $0.025 per common share.
- EAFD throughput in Q1, 2012 increased by 15% to approximately 15,000 Dry Metric Tonnes (“DMT”) from approximately 13,000 DMT in Q1, 2011.
- Production in Q1, 2012 increased by 15% to 3,634 DMT zinc concentrate (containing 67% zinc) compared to Q1, 2011 production of 3,154 DMT.
- Sales volume in Q1, 2012 increased by 18% to 4,270 DMT compared to 3,623 DMT in Q1 2011, 3% higher than production increases, due to the timing of individual shipments.
- Revenues in Q1 2012 increased by 5% to $5.2 million (at 100%) compared to $5.0 million in Q1 2011, as a result of higher sales volume offset by lower zinc prices.
- EBITDA for both Q1, 2012 and Q1, 2011 were approximately $1.1 million, reflecting offsetting effect of increased revenues and increased direct operating costs.