Highlights (in US$)
- All corporate debt has been retired. Silvermet is debt free and with cash and credit facility receivables of $4.1 million at December 31, 2011, or $0.026 per share.
- Production in 2011 increased by 33% to 15,328 Dry Metric Tonnes (“DMT”) zinc concentrate containing 69% zinc compared to 2010 production of 11,548 DMT.
- Sales volume in 2011 increased by 15% to 14,421 DMT from 12,581 DMT in 2010.
- Revenues in 2011 increased by 10% to $17.6 million (at 100%) (Silvermet’s share – $8.6 million) from $15.9 million in 2010.
- In 2011 57,000 DMT of EAFD was processed, an increase of 10% from 2010.
- In Q1, 2012, Silvermet’s Turkish joint venture company, Befesa Silvermet Turkey (“BST”), signed two purchase agreements to acquire plant sites in the Adana and Izmir Tire organized industrial zones. At the new sites, the BST joint venture intends to build two “state of the art” plants to process 220,000 tonnes of EAFD per year, which will quintuple BST’s production capacity in Turkey.
