#Canada #Vancouver #precious metals #Las Chispas #SilverCrest

SilverCrest Metals Achieves Outstanding Operational Results for 2024

SilverCrest Metals Inc., a prominent player in the precious metals sector, has recently revealed impressive interim operational results for the fourth quarter and the complete fiscal year of 2024. This announcement underscores the company’s continuous growth trajectory, primarily driven by its flagship Las Chispas operation located in Sonora, Mexico.

Operational Highlights

In Q4 2024, SilverCrest achieved significant operational milestones, recovering 13,993 ounces of gold and 1.38 million ounces of silver, which equates to approximately 2.50 million silver equivalent ounces. Sales figures were equally impressive, with the company selling 15,100 ounces of gold and 1.45 million ounces of silver, amounting to about 2.65 million silver equivalent ounces. The company realized average prices of $2,647 per ounce for gold and $31.26 per ounce for silver, resulting in substantial revenue of $85.2 million, marking a 6% increase from the previous quarter.

The financial performance over the entire fiscal year of 2024 was even more remarkable, with total recoveries reaching 58,943 ounces of gold and 5.66 million ounces of silver, or 10.35 million silver equivalent ounces. SilverCrest surpassed its sales guidance for the year, selling 59,804 ounces of gold and 5.75 million ounces of silver, generating a total revenue of $301.9 million, a 23% increase compared to 2023.

Financial Strength

The company’s treasury has shown remarkable resilience, with treasury assets increasing by $35.2 million in Q4, ending the quarter at an impressive $193.4 million, which includes $153.4 million in cash and $40.0 million in bullion. During the entire year of 2024, SilverCrest’s treasury assets increased by $88.3 million, reflecting a strong operational performance and sound financial management.

N. Eric Fier, the CEO of SilverCrest, expressed his pride in the accomplishments of the organization, stating, “For a second consecutive year since declaring commercial production, the Las Chispas operation has exceeded expectations on numerous operational metrics and done so in a safe manner.” He emphasized the company’s commitment to employee safety and the exceptional contributions of staff from both Mexico and Canada.

Looking Ahead

SilverCrest is actively progressing on its anticipated transaction with Coeur Mining, Inc., which is set to close in the first quarter of 2025. All related materials to this transaction are accessible on the company's official website and via SEDAR+. Shareholders are encouraged to participate in the upcoming special meeting on February 6, 2025, to vote on the proposal.

Management changes have also been made, with Clifford Lafleur and Tara Hassan being promoted to senior vice president roles, reflecting their significant contributions to the company’s operational successes.

The operational excellence, robust financial health, and strategic forward moves place SilverCrest in a favorable position within the precious metals market, promising exciting prospects for stakeholders in the coming year.