02:03 PM EDT, 08/20/2024 (MT Newswires) -- Impact Silver ( ISVLF ) which operates mines in Mexico, on Tuesday said its second-quarter loss widened despite higher revenue.

The company said it lost $2.6 million after foreign exchange expense and deferred income taxes of $0.6 million, compared with a loss of $0.9 million the year before.

Revenue rose 40% to $7.7 million, from $5.5 million, last year. This included $1.8 million from the Plomosas zinc mine up from $1 million in the first quarter. Impact noted that the Plomosas was brought online late last year. Revenue at the Zacualpan project rose $0.5 million to $5.9 million.

"During the second quarter, our team at Plomosas successfully met its objective of increasing production throughput following a substantive but continuing mine rehabilitation program. As we approach design capacity levels over the coming quarters, we expect to expand the mine's development and increase high-grade production activity at site," said chief executive Fred Davidson. "Meanwhile, our silver operations at Zacualpan are adapting to higher cost profiles by improving efficiencies in terms of grade and recoveries, which we expect to bear fruit in 2025."

Impact shares were last seen down $0.005 to $0.23 on the TSX Venture Exchange.