Q3 Net Income Positive Vancouver, British Columbia--(Newsfile Corp. - November 22, 2021) - IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) ("IMPACT" or the "Company") announces its financial and operating results for the third quarter ended September 30, 2021.
The Company reported $13.7 million in revenue for the first three quarters of 2021, a 24% improvement year over year compared to revenue of $11.0 from the first three quarter of 2020. Year to date cash provided by operating activities improved to $2.8 million, EBITDA (earnings before interest, taxes, depreciation, and amortization) remained strong at $1.9 million.
After investing $3.0 million in exploration expenditures and mining assets during the year to date, the cash position remained strong at $21.5 million with working capital of $22.1 million, up from cash of $17.4 million and working capital of $16.8 million at September 30, 2020. The Company has drilled over 10,000 metres on the property in 2021.
Mine operating income before amortization and depletion for the current year improved 45% to $3.2 million from $2.2 million in 2020. Cost of sales rose over the quarter to $3.6 million compared to $3.1 million as the company's increased exploration and development at the Guadalupe mine, which should have a positive impact on grade and tonnage by the first quarter of 2022.
https://www.newsfilecorp.com/release/104605