der Verkäufe und Produktionsraten
Mail vom 1.4. 2011 18:15 Uhr
ECU Silver Mining Inc. is focused on the exploration, development
and mining of gold, silver and base metals at its Velardeña District
Properties in Durango, Mexico.
The Company holds a NI 43-101 compliant mineral resource of 40 million
silver equivalent (0.6 million gold equivalent) ounces in the measured
and indicated category and 391 million silver equivalent (6.0 million
gold equivalent) ounces in the inferred category.
The Company also owns two mills with a combined capacity of 820 tonnes
per day. ECU's mission is to become a pre-eminent silver and gold
producer through the development of its existing and potential mineral
resources at Velardeña.
ECU SILVER RELEASES YEAR END RESULTS FOR 2010
TORONTO, ONTARIO – April 1, 2011 -- ECU Silver Mining Inc. (TSX:ECU)
reports that it has released its audited consolidated financial
statements for the year ended December 31, 2010 and the related
management's discussion and analysis of financial position and results
of operations ("MD&A").
ECU reported a net loss of $6.9 million, or 2 cents per share in
2010, compared with a net loss of $8.4 million, or 3 cents per share
in 2009. Since the Company reports as an exploration and development
company, the income statement does not report revenues from sales.
Revenues from metal sales are reported in the statement of cash flows
and were $19.3 million in 2010, compared with $6.6 million in 2009, a
194% increase year over year.
Metal sales for 2010 were 16,021 ounces of gold, 356,559 ounces of
silver, 445,650 pounds of lead and 423,996 pounds of zinc. Year over
year, this represents a 250% increase in gold sales, a 144% increase
in silver sales, 568% increase in lead sales and a 375% increase in
zinc sales.
Michel Roy, CEO and Chairman stated, “We are pleased with the
progress of our operations with metal sales being significantly higher
than last year. The majority of our gold and silver sales came from
the Oxide Mill, which has been running very well for us. A portion of
the gold sales came from the sale of our gold/pyrite stockpile. The
stockpile has been completely sold and the transportation and
processing of our gold concentrate stockpile was very successful. We
will continue to look for ways to optimize our mining and milling
operations during 2011.”
Stephen Altmann, President added, “In 2011 we plan to increase our
exploration focus with the goal of increasing mineral resources and
converting additional inferred resources into the measured and
indicated categories. The exploration plan will focus on drilling the
deep seated massive sulphides on the Velardeña Property, which
started this past week, plus the delineation of additional known
mineralized veins, extensions of existing veins and identification of
new veins on all three of our properties”.
Copies of the audited financial statements and related MD&A can be
found on SEDAR at www.sedar.com
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