Scorpio Mining Reports $1.3M in Q1 Net Earnings

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Scorpio Mining Corporation (SPM.TO) reported its financial and operating results for the first quarter ended March 31, 2013, recording net earnings of $1.3 million or $0.01 per share, down slightly from $1.4 million or $0.01 per share in Q4 2012.

Revenue from metals payable of $11 million in Q1 2013 is down from $12.5 million in Q4 2012 due to lower recorded metal prices for all metals and lower silver and zinc head grades, albeit compensated by higher copper and lead grades.

Cash cost per silver payable ounce decreased to $10.42 in Q1 2013 compared to $10.56 in Q4 2012 due to decreased costs and an increase in by-product credits from increased production of lead and copper.

SPM shares gained half-a-cent to $0.49.



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This article appears in: Investing , Commodities

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