Average cash costs [ 1] in the fourth quarter of 2012 were $4.70 per silver equivalent ounce, compared with $4.06 during the comparable period of 2011. This resulted in cash operating margins [ 1] of $26.76 per silver equivalent ounce, a 5% decrease compared with the fourth quarter of 2011. The slightly lower margins were primarily a result of the higher production payments associated with the precious metals stream on Hudbay's 777 mine ( $5.90 and $400 per ounce of silver and gold, respectively).Average cash costs [ 1] for the year ended December 31, 2012, were $4.30 per silver equivalent ounce, compared with $4.09 during the comparable period of 2011. This resulted in cash operating margins [ 1]of $26.79 per silver equivalent ounce, a 12% decrease compared with the year ended December 31, 2011, resulting primarily due to a 10% decrease in the average realized silver price.
Silver Wheaton Reports Record 2012 Operating And Financial Results
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