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Scorpio Mining announces Q1 production results

Stockhouse Editorial
0 Comments| April 25, 2013

Scorpio Mining Corp. (TSX: T.SPM, Stock Forum) said that production from the Nuestra Señora operation in the first quarter ended March 31, 2013 totalled 251,220 silver ounces.

The 100% owned Nuestra Señora mine in the Cosalá District of Sinaloa State, Mexico, has flexible mining methods and diversified metal production.

According to the Scorpio Mining press release, in the first quarter Scorpio also produced 3.2 million pounds of zinc, 439,954 pounds of copper and 1.8 million pounds of lead.

"The Nuestra Señora operation delivered increased recoveries in the first quarter for all metals compared to the fourth quarter of 2012, and record plant throughput in the first quarter compared to any previous quarter,” said Pierre Lacombe, President and CEO. “Lower head grades for silver and zinc were largely offset by higher head grades of copper and lead compared to the fourth quarter of 2012, with total silver and zinc produced in the first quarter of 2013 decreasing by 15.2% and 3.8% respectively, while copper and lead produced increased by 26.7% and 35.9% respectively.”

Increased plant throughput achieved in the first quarter of 2013 is largely due to the installation of efficient cyclone feed pumps and resizing of cyclone components near the end of the fourth quarter of 2012, as well as the effect of the flash flotation cell on the mill circulating load.

Scorpio is a silver producer operating in Mexico with significant base metal by-product credits.

On Thursday, Scorpio was up 7.4% and was trading at $0.51 a share. The company had a market cap of $101.2 million, based on 198.4 million shares outstanding. The 52-week high and low was $1.28 and $0.465 respectively.


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