Maya Gold & Silver (Maya or the Corporation) (TSX VENTURE:MYA)has released its unaudited condensed consolidated financial statements accompanied by the management’s discussion and analysis (MD&A) for the six-month period ending in June 30, 2017.
Zgounder Silver mine highlights during the six-month period ended June 31, 2017 include:
- Silver production of 8,6945 kg of silver (279,548 ounces) an 4.34% increase from the first half period of 2016.
- Revenue from silver in the six-month period ended June 30, 2017 totalled $6,470,653 (2016 $6,001,227) and the development cost incurred during the period, excluding capitalised interest, amounted to $5,064,831 (2016 4,415,045).
- The net cash flow generated from the activities at Zgounder, before capitalised interest, totaled $1,405,822 (2016 $1,586,182) and was accounted for against Property, plant and equipment since the Company had not yet reached the commercial phase of this property.
- The Corporation initiated a diamond drilling program with update of the status of silver resources, reported exceptionally drill intercepts from its exploration program at the Zgounder Silver Mine and has identified Ruby Silver Ore (Proustite) at Zgounder;
In June, the Corporation has also mandated GMG to conduct a Preliminary Economic Assessment on the Boumadine polymetallic deposit. Compilation and computerization of historical data have been initiated.
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