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Hunt Mining 2018 financial statements

Published by , Editorial Assistant
Global Mining Review,

Hunt Mining Corp. has announced the filing of the corporation’s audited 10-K for year-end 2018 on EDGAR in the US, as well as the MD&A and financials on SEDAR in Canada, both filed 1 April 2019.

The corporation recognised a net loss of US$3.56 million in fiscal year 2018 on concentrate net sales of US$3 961 399, given the costs associated with the shift from the Martha flotation mill property to the La Josefina gold/silver project initiated. In 2018, Hunt’s exploration and development team focused on metallurgical tests at the Ailin vein, a well explored part of the La Josefina Project, and one of numerous principal vein structures located on the Estancia La Josefina that the corporation has owned since 2006. The corporation has shown encouragement by the results of the metallurgical test shipments and the way mineralised material has responded to flotation milling at the Martha mill.

Hunt has stated that it was pleased with how the Martha infrastructure functioned in 2018 as a result of the capital improvements made in 2016 and 2017. The effectiveness of these improvements has surpassed management’s original estimates.

In calendar year 2017, Hunt Mining, through its wholly owned subsidiary, Cerro Cazador S.A. (CCSA), sold more than US$9.2 million worth of silver-gold concentrate produced at the Martha flotation mill, partially from known remnants that came with the acquisition of the Martha property, yet largely resulting from the discovery of the Martha Oeste vein previously unknown.

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