Monday, May 30, 2016

Imperial Metals Corporation - III.t

Imperial Metals Corporation - III.t is advancing the Red Chris project, a 30,000 tonne per day copper/gold mine currently in final stage development.

The company owns and operates the Mount Polley open pit copper/gold mine, has 50% interest in both the Huckleberry open pit copper mine, and the Ruddock Creek zinc/lead project. The sole active project outside of British Columbia is the Sterling heap leach gold mine in Nevada.
On May 12, 2016 the company released News
"Imperial Metals Corporation (the “Company”) (III-TSX) reports financial results for the three months ended March 31, 2016 as summarized below and discussed in detail in the Management’s Discussion & Analysis (“MD&A”). The Company’s financial results are prepared in accordance with International Financial Reporting Standards (“IFRS”). The reporting currency for the Company is the Canadian (“CDN”) Dollar.SELECT QUARTERLY FINANCIAL INFORMATION
Three Months Ended March 31
expressed in thousands, except share and per share amounts 2016 2015
Total revenues $136,785 $1,533
Net income (loss) $17,729 $(33,384)
Net income (loss) per share $0.22 $(0.45)
Diluted income (loss) per share $0.22 $(0.45)
Working capital deficiency (1) $173,918 $35,569
Total assets $1,450,277 $1,394,389
Total long term debt (including current portion) $863,712 $818,815
Cash dividends declared per common share $0.00 $0.00
(1)Defined as current assets less current liabilities. The March 31, 2016 amount includes $164,423 related to the senior credit facility that the Company extended on May 11, 2016.

Revenues were $136.8 million in the March 2016 quarter compared to $1.5 million in the March 2015 quarter. The increase of $135.3 million was due to revenue from the Red Chris and Mount Polley mines in the March 2016 quarter compared to the March 2015 quarter when both mines were not in commercial operations. There were five concentrate shipments in the March 2016 quarter from the Red Chris mine and two concentrate shipments from the Mount Polley mine.
      
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On August 5, 2014 the company released News

Imperial Metals puts Mount Polley on care, maintenance

"The tailings dam breach that caused a water and tailings discharge at Imperial Metals Corp.'s Mount Polley mine early Monday morning has stabilized. The company's first priority is the health and safety of its employees and neighbours, and it is relieved no loss of life or injury have been reported. The company is deeply concerned, and is working to mitigate immediate effects and understand the cause. Exact quantities of water and tailings discharged have yet to be determined. The tailings are alkaline with an average pH of 8.5 and are not acid generating.


The cause of the breach is unknown at this time. The dam is an independently engineered structure that operated within design limits and specifications. Monitoring instruments and on-site personnel had no indication of an impending breach. The Mount Polley mine has been placed on care and maintenance, and business interruption and physical damage insurers have been notified. While the damaged area is relatively small compared with the overall size of the dam, it is not known at this time how long it will take to restore operations.

We are working closely with provincial ministries, local agencies and emergency response officials. Further updates will be provided as more information becomes available."
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http://pennystockjournal.blogspot.com/2016/05/imperial-metals-corporation-iiit.html

Saturday, May 28, 2016

Eguana Technologies Inc. - EGT.v

Eguana Technologies Inc. - EGT.v is a leading supplier of power control solutions for residential and commercial energy storage systems.

Distributed energy storage systems enable higher levels of renewable energy supply and better utilization of our existing grid infrastructure.
On May 9, 2016 the company released News

"Eguana Technologies Inc. (TSX-V: EGT, OTCQB: EGTYF) continues to deploy its AC Battery energy storage appliance and demonstrate its global capabilities and application diversity as the AC Battery is integrated into an expanding range of control technologies. Eguana announced today that it has begun shipments into solar applications in Australia, and for intermediate storage installed alongside both public and home EV charging stations.










http://pennystockjournal.blogspot.com/2016/05/eguana-technologies-inc-egtv.html

Friday, May 27, 2016

Silvercorp Metals Inc. - SVM.t

Silvercorp Metals Inc. - SVM.t is the largest primary silver producer in China through the operation of four silver-lead-zinc mines at the Ying Mining Camp in the Henan Province of China.
On May 26, 2016 the company released Numbers

"SILVERCORP REPORTS SILVER PRODUCTION OF 5.0 MILLION OUNCES, CASH FLOWS FROM OPERATIONS OF $31.9 MILLION, OR $0.19 PER SHARE, FOR FISCAL YEAR ENDED MARCH 31, 2016
Silvercorp Metals Inc. has released its financial and operating results for the fourth quarter and fiscal year ended March 31, 2016. (All figures are in U.S. dollars unless otherwise stated.)
Fiscal year 2016 highlights:
  • Net income attributable to equity shareholders of $6.3-million, or four cents per share, compared with net loss attributable to equity shareholders of $103.1-million, or a loss of 60 cents per share in the prior year;
  • Silver, lead and zinc head grades at the Ying mining district improved by 12 per cent, 12 per cent and 3 per cent to 268 grams per tonne, 3.9 per cent and 0.8 per cent, respectively, compared with the prior year;
  • General and administrative costs decreased by 16 per cent to $17.4-million compared with $20.6-million in the prior year;
  • All-in sustaining cost per ounce of silver, net of byproduct credits, of $10.20, compared with $11.33 in the prior year;
  • Silver sales of 5.0 million ounces, lead sales of 52.5 million pounds and zinc sales of 17.5 million pounds, down 2 per cent and up 2 per cent and 10 per cent, respectively, from the prior year;
  • Sales of $107.9-million, down 16 per cent from the prior year on a 17-per-cent drop in average selling price of silver;
  • Gross margin of 33 per cent compared with 43 per cent in the prior year;
  • Cash cost per ounce of silver, net of byproduct credits, of $1.44, compared with 22 cents in the prior year;
  • Cash flow from operations of $31.9-million, or 19 cents per share, down 41 per cent compared with $54.1-million, or 32 cents per share in the prior year;
  • Ended the fiscal year with $62.0-million in cash, cash equivalents and short-term investments.

Fourth quarter highlights:

  • Silver sales of 1.0 million ounces, an increase of 6 per cent compared with the same prior-year quarter;
  • Lead sales of 9.3 million pounds and zinc sales of 3.6 million pounds, up 2 per cent and 41 per cent, respectively, compared with the same prior-year quarter;
  • Gross margin of 32 per cent compared with 26 per cent in the same prior-year quarter;
  • Head grades for silver at Ying improved by 16 per cent to 310 g/t;
  • Cash flow from operations of $4.3-million, or three cents per share, compared with $4.8-million, or three cents per share, in the same prior-year quarter;
  • Cash cost per ounce of silver, net of byproduct credits, of $2.21, compared with 89 cents in the same prior-year quarter;
  • All in sustaining cost per ounce of silver, net of byproduct credits, of $9.91, compared with $14.15 in the same prior-year quarter;
  • Sales of $19.4-million, a decrease of 4 per cent, compared with the same prior-year quarter.














http://pennystockjournal.blogspot.com/2016/05/silvercorp-metals-inc-svmt.html