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IMPACT Silver Corp. reports news on silver, gold, zinc and base-metal mining operations in Mexico. Company updates center on the Royal Mines of Zacualpan District in central Mexico, where its underground silver mines and open pit mine feed the Guadalupe processing plant, and on the Plomosas zinc-lead-silver mine in northern Mexico. Recurring developments include drill results from vein extensions and mine zones, operating and financial results, grade and cost trends, exploration programs, processing assets, and equity compensation or governance actions.
IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) has appointed Janet Meiklejohn to its board of directors, effective August 7, 2024. Ms. Meiklejohn brings over 25 years of experience in corporate finance and institutional equity sales. She has served as CFO for various high-growth companies, specializing in financial reporting, governance, strategy, and investor relations. Her expertise includes securing equity through a vast network of institutional and venture capital investors. Ms. Meiklejohn holds an MBA from Richard Ivey School of Business, a BBA from the University of Regina, and professional designations as CPA, CA, and CBV. IMPACT Silver's CEO, Fred Davidson, expressed confidence in leveraging her expertise in strategy, valuation, governance, and capital markets to benefit the company.
IMPACT Silver announced its Q1 2024 results, reporting a revenue of $5.3 million, with $4.3 million from the Guadalupe Mining Centre and $1.0 million from the Plomosas mine. The company incurred a net loss of $3.1 million due to $2.8 million in operating costs for facility upgrades at the Plomosas mine.
Post-quarter, the company launched a non-brokered private placement financing of up to $10.2 million, raising $7.1 million in the first tranche. Key investments in rehabilitation and development efforts were made, including $1.9 million spent on exploration programs.
Silver and zinc prices rose late in the quarter, attributed to expected interest rate cuts by the U.S. Federal Reserve. Ongoing efforts include upgrading infrastructure at Zacualpan and redesigning the Plomosas mine. The company anticipates improved operating profit as operations ramp up to full capacity.
Silver production at the Zacualpan complex was 137,291 oz, down from 156,430 oz in Q4 2023, due to maintenance work. The Plomosas mine processed 3,594 tonnes with a 15.3% zinc grade, continuing its gradual start-up. The company aims for increased gold production and expanded exploration activities.
Impact Silver Corp. announces a new silver vein discovery in its Guadalupe mine in Mexico, with promising drill results of up to 1,400 g/t silver over 0.75m. The discovery, designated as Kena Vein South, is located within 100-200 meters of active mine workings. The company plans to continue drilling to further define the vein for mining, showing potential for rapid and low-cost mine development.
IMPACT Silver Corp. (ISVLF) announces a C$6.2 million non-brokered private placement financing, aiming to raise funds for exploration, operational improvements, and development of silver assets. The offering consists of two types of units at different prices, with each unit including common shares and warrants. Proceeds will be used to accelerate exploration activities in Mexico and enhance zinc production at the Plomosas deposit.
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