ounces (6.4 million ounces of silver and 35,600 ounces of gold) compared to 6.7 million ounces in Q2 2012, representing an increase of 28%.
Silver equivalent sales of 7.2 million ounces (5.1 million ounces of silver and 33,900 ounces of gold) compared to 6.9 million ounces in Q2 2012, representing an increase of 4%.
Revenues of $166.9 million compared to $201.4 million in Q2 2012, representing a decrease of 17%.
Net earnings of $71.1 million ( $0.20 per share) compared to $141.4 million ( $0.40 per share) in Q2 2012, representing a decrease of 50%.
Operating cash flows of $125.3 million ( $0.35 per share1) compared to $172.9 million ( $0.49 per share1) in Q2 2012, representing a decrease of 28%.
Cash operating margin1 of $18.28 per silver equivalent ounce compared to $25.01 in Q2 2012.
Average cash costs1 were $4.14 and $391 per ounce of silver and gold, respectively. On a silver equivalent basis, average cash costs1 rose to $4.77 compared with $4.06 in Q2 2012 due primarily to an increase in the percentage of revenue from gold sales.
Declared quarterly dividend of $0.10 per common share as the result of an amended dividend policy whereby the quarterly dividend is equal to 20% of the average of the previous four quarters' operating cash flow, with a gradual implementation.