Financial Results highlights
Net revenue of $190.3 million (H1 2014: $282.0 million)
Adjusted EBITDA of $39.3 million (H1 2014: $94.3 million)
Earnings per share of $(0.10) (H1 2014: $(0.01))
Cash balance of $84.3 million as at 30 June 2015
Inmaculada Project update
Inmaculada production to date:
o 21,100 ounces of gold
o 506,200 ounces of silver
Mined tonnage, grades and metallurgical recoveries in line with expectations
2015 production target of 6-7 million silver equivalent ounces on track
Operational highlights
Half year production of 9.2 million attributable silver equivalent ounces
24.0 million silver equivalent ounce full year production target on track
Main operation all-in sustaining costs per silver equivalent ounce fell by 9% to $15.0 ($16.0 per ounce assuming silver-to-gold ratio of 60:1)[4]
$13-14 per ounce all-in sustaining cost target for 2015 on track ($15-16 per ounce assuming silver-to-gold ratio of 60:1)
H2 2015 Outlook
Significantly improved production expected in H2 2015
Inmaculada full production set to drive significant cost and margin improvement in H2 2015
