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LIBERTY LAKE, Wash., Aug. 15, 2017 -- 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: [email protected] Bob Little Chief Administration Officer T: (509) 290-5659 E: [email protected]
