Boston, MA 08/13/2014 (wallstreetpr) – The U.S. based company Tahoe Resources Inc (NYSE:TAHO) led by chief executive officer, C. Kevin McArthur, 55, on August 12, 2014 revealed the financial statistics for the 2Q that ended on June 30, 2014. In the 2Q earnings disclosure, the company also announced the production updates of its Escobal silver mine, located in Guatemala.
The Highlights Of 2Q Result Of 2014:
Financial Gain In 2Q2014:
The Tahoe Resources Inc (NYSE:TAHO) generated revenue of approximately $105 million from concentrates sales. The operating cost was nearly $48.2 million, which helped Tahoe to earn $56.5 million from mine operations. The net earnings posted in the financial report are $36.1 million ($0.25 per share). However, the operating cash flow before the change in working capital was $58.9 million. At the quarter end, the cash and equivalents were $51.5 million.
Production Statistics In 2Q2014:
The production of silver in the three months period marched up to 5.8 million ounces. The production cash cost is of $5.65 per ounce. The production in the first half of the year amounted 9.9 million silver ounces. Tahoe Resources Inc (NYSE:TAHO) in the financial statement mentioned that realized silver price from concentrate sales averaged $20.82 per ounce.
Pleased CEO Quoted On Escobal Mine:
Mr. McArthur, the chief executive officer of Tahoe Resources Inc (NYSE:TAHO) during the conference call, stated that the increase in firm production and optimization at the Escobal silver mine ended as planned in the second quarter. The company is also very contented with the team performance and effort at the Escobal mine. The CEO added that along with a strong performance and economic results, the company has positioned steady cash in the balance sheet. The mine’s production achieved the target of 3500 tons per day.
