Net earnings were $242 million, or $0.28 per share, compared to net earnings of $101 million, or $0.12 per share, for the fourth quarter of 2016. Operating cash flows for the fourth quarter of 2017 were $511 million compared to $239 million for the same period in the prior year. Adjusted operating cash flows were $401 million for the fourth quarter of 2017 compared to $306 million for the same period in the prior year.
We are very pleased with our results for the year, with adjusted earnings and EBITDA of $2.6 billion and $5.7 billion, respectively, said Don Lindsay, President and CEO. With our strong operating results, we achieved record revenues and cash flow from operations in 2017. Our financial position is very strong and with the startup of Fort Hills and favourable markets for our key products, we are well positioned for the coming year.
The Company now has a strong balance sheet with no debt, production growth with lowering costs, and is well positioned to strengthen and advance its business. said Brad Langille, CEO.
San Marco Resources Inc. announces the engagement of Paul MacDonald to serve as Investor Relations Consultant to the Company on a non-exclusive basis for a period of one year commencing February 14, 2018.
IMPACT Silver Corp. is pleased to announce the appointment of Jerry Huang to the position of Acting Chief Financial Officer, effective February 13, 2018.
Levon Resources Ltd. announces that it has amended and closed its previously announced non-brokered private placement through the issuance of units of the Company at a price of C$0.35 per Unit, for total gross proceeds of $899,925. Each Unit will consist of one common share and one common share purchase warrant entitling the holder to acquire one common share of the Company at a price of C$0.50 per common share for a period of two years from the closing of the Placement.
Avino and San Gonzalo Mines – 2017 Production Highlights
Silver equivalent production – 2,700,585 oz*
Silver production – 1,394,203 oz
Gold production – 7,935 oz
Copper production – 4,373,166 lbs
El Sindicato Nacional Minero Metalúrgico El Frente conmemoró ocho años de su formación con el anuncio e la incorporación de 500 plazas más para Fresnillo.
Analysis by BMI Research predicts that Mexicos mining industry will experience one of the fastest recoveries in Latin America due to the strong price performance of its key commodities gold, silver, copper and zinc along with a steady project pipeline and supportive regulatory framework. Heidi Vella profiles Mexicos mining sector and its prospects for 2018 and beyond.
The Report supports the disclosure made by the Company in its news releases dated December 29, 2017 entitled “Sierra Metals Significantly Increases Mineral Resource Estimate for Cusi Mine, Mexico.” There are no material differences in the mineral resources contained in the Report from those disclosed in the December 29, 2017 news release.
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