Silverstone Reports Earnings of US$3.7 Million and Record Operating Cash Flows of US$3.8 Million for the Second Quarter
2008年8月20日 - 6:18AM
Marketwired
Silverstone Resources Corp. ("Silverstone") (TSX VENTURE: SST)
announces its financial results for the second quarter ending June
30, 2008. For the three months ended June 30, 2008, Silverstone
recorded net earnings of US$3.7 million and record operating cash
flows of US$3.8 million or US$0.03 per share.
Overview and Highlights
- Silver sales of US$8.3 million recorded during the quarter
from the sale of 459,000 ounces.
- Net earnings of US$3.7 million or US$0.03 per share.
- Record operating cash flows of US$3.8 million or US$0.03 per
share.
- Total cash costs of US$3.97 per ounce of silver.
- Cash at June 30, 2008 of US$24.2 million (March 31, 2008 -
US$21.3 million) with no bank debt.
- Working capital of US$31.5 million (March 31, 2008 - US$25.3
million).
- On July 22, 2008 the Company announced an initial mineral
resource estimate of 15.6 million silver equivalent ounces in all
resource categories for its Copala silver project in Mexico.
The information in this news release should be read in
conjunction with the Interim Consolidated Financial Statements and
Management Discussion and Analysis for the three months ended June
30, 2008, which will be available at Silverstone's website at
www.silverstonecorp.com and at www.sedar.com.
Silverstone will host a conference call on Wednesday August 20,
2008 at 8:30am PST (11:30am ET) to discuss these results. The
conference call may be accessed by dialing 1.866.365.1119 in North
America or 1.416.849.7329 internationally. Please ask for the
Silverstone Resources Corp. conference call. The conference call
will be archived for later playback until Wednesday August 27, 2008
and can be accessed by dialing 1.866.501.5559 and the passcode is
21280798#.
ABOUT SILVERSTONE
Silverstone is a Canadian based public silver mining company
with 100% of its revenue from silver production. More information
is available online at: www.silverstonecorp.com.
Contacts: Silverstone Resources Corp. Chris Tomanik (604)
637-8151 Email: ctomanik@silverstonecorp.com Silverstone Resources
Corp. Mark Patchett (604) 637-8151 (604) 688-2180 (FAX) Email:
mpatchett@silverstonecorp.com Website: www.silverstonecorp.com
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