Hunt Mining Reports Second Quarter 2017 Earnings of US $1,276,887
August 15 2017 - 6:01AM
Hunt Mining Corp. (the “
Corporation” or
“
Hunt”) (TSX VENTURE:HMX) is pleased to announce
interim financial statements and management discussion and analysis
for the three-month period ending June 30, 2017. Second quarter
financial information is available on the Corporation’s website at
www.huntmining.com and on SEDAR.
Highlights
- Net Income of US $1,276,887 for the three-month period ending
June 30, 2017;
- Basic earnings per share of US $0.02 in the second quarter of
2017;
- Revenue of US $3,756,700 for the period ending June 30, 2017,
and Year to Date US $4,445,499;
- Production of 245,060 silver equivalent troy ounces from the
Martha Project using a 72 to 1 silver to gold ratio;
- Continued exploration of seven (7) mining concessions acquired
with the purchase of the Martha Project.
Financial Highlights (all reported in US $)
|
|
Q2 2017 |
Revenue |
|
$3,756,700 |
Expenses |
|
$2,479,813 |
Basic
Earnings per Share |
|
$0.02 |
Silver
Eq. Production |
|
245,060 ounces |
Ounces are Troy Ounces consisting of 31.1035
grams
President and CEO Tim Hunt states, “We are
extremely pleased to report our first revenues and positive cash
flow and net income through our production activities at the Martha
Project. When we purchased the Martha Project we developed a strong
business plan that utilized our team of personnel and their
expertise in the Santa Cruz Province of Argentina and in precious
metals production. We intend to increase production at the Martha
Project as the winter season ends in Argentina, and are evaluating
an increase in daily capacity from the current 240 tonne per day.
We intend to finance ongoing exploration and increased production
through cash flow generated from operations.”
Additional information on the Martha Project and
other Santa Cruz, Argentina projects can be viewed on the Company
website at: www.huntmining.com.
About Hunt Mining
Hunt Mining Corp. has continued to develop its
properties as an active and aggressive explorer in Santa Cruz since
2006, entering into production of silver and gold at the Mina
Martha property in January 2017. Since 2006, Hunt's wholly owned
subsidiary, Cerro Cazador S.A., has completed exploration activity
including 62,000 meters of HQ core drilling, 416 line kilometers of
Induced Polarization geophysical surveys and more than 20,000
surface soil, sediment, channel, chip, and trench samples, beyond
the historical work previous to the same properties. Hunt also owns
a 100% interest in the Martha property, which includes the Martha
Project, also located in the Santa Cruz Province of Argentina.
Neither the TSX Venture nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture) accepts responsibility for the adequacy or accuracy of
this release.
For more information contact:
Dean Stuart
Investor Relations
T: (403) 617-7609
E: dean@boardmarker.net
Bob Little
Chief Administration Officer
T: (509) 290-5659
E: blittle@huntmining.com
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