Corona Acquisition Helps Boost Production, Q2 Financials at Dia Bras Exploration
Dia Bras Exploration Inc. (DIB.V) is up 5 cents at 2.60 a share after reporting record production and financial results for the three months ended June 30, largely due to the miner's acquisition of Sociedad Minera Corona in Peru during the Q2 period.
The $275.5-million deal for Corona significantly improved metrics of Dia Bras' Yauricocha mine, with Q2 revenues rising 259% over year-ago levels to $18.3 million. EBITDA rose to $9.25 million from $369,000 in the year-ago quarter.
Total production was 268,000 ounces of silver, 2.58 million pounds of copper, 3.75 million pounds of lead and 7.64 million pounds of zinc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.