IMPACT Silver (IPT) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue rose 81% year-over-year to $8.6 million, driven by higher silver and zinc prices, increased Plomosas mine output, and improved mill head grades.

• Mine operating earnings before amortization and depletion reached $1.03 million, up from $0.01 million in Q3 2023.

• Net loss narrowed to $1.2 million in Q3 2024 from $1.5 million in Q3 2023, with positive cash flow expected as Plomosas reaches full production.

Financial highlights

• Zacualpan asset revenue was $6.1 million in Q3 2024, up from $4.8 million in Q3 2023.

• Plomosas mine generated $2.5 million in Q3 2024 revenue; year-to-date revenue was $5.4 million.

• Cash position at quarter-end was $6.4 million, with working capital of $7.1 million and no long-term debt.

• Direct costs per tonne at Zacualpan rose 14% year-over-year to $146.27 but declined sequentially from Q2 2024.

Outlook and guidance

• Plomosas mine expected to reach full design capacity in the coming months, with ongoing exploration along a 6 km strike, only 10% explored to date.

• Focus on grade improvement at Zacualpan and enhanced gold recovery from Alacran mine.

• Management anticipates continued value creation through year-end and into 2025, supported by strong metal prices and operational efficiencies.