Guanajuato Silver Reports Year End 2023 Financial Results
Guanajuato Silver Reports Year End 2023 Financial Results
VANCOUVER, BC / ACCESSWIRE / April 8, 2024 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) is pleased to announce selected financial information and consolidated production results for the year ended December 31, 2023. The Company's consolidated financial statements for the year ended December 31, 2023 and Management's Discussion and Analysis ("MD&A") thereon can be viewed under the Company's profile at . All dollar amounts are in US dollars (US$) and prepared in accordance with IFRS Accounting Standards (IFRS) as issued by the International Accounting Standards Board. Production results are from the Company's wholly owned El Cubo Mines Complex ("El Cubo"), Valenciana Mines Complex (VMC), and San Ignacio Mine ("San Ignacio") located in Guanajuato, Mexico, and the Topia Mine ("Topia") located in Durango, Mexico.
不列顛哥倫比亞省溫哥華/ACCESSWIRE/2024年4月8日/瓜納華託白銀有限公司(“公司” 或 “GSilver”)(多倫多證券交易所股票代碼:GSVR)(AQUIS: GSVR)(OTCQX: GSVR)欣然宣佈截至2023年12月31日止年度的部分財務信息和合並生產業績。公司截至2023年12月31日止年度的合併財務報表以及管理層對此的討論與分析(“MD&A”)可在公司簡介下查看,網址爲。所有美元金額均以美元(US$)計算,並根據國際會計準則委員會發布的《國際財務報告準則會計準則》(IFRS)編制。生產業績來自該公司位於墨西哥瓜納華託的全資埃爾庫博礦業綜合體(“El Cubo”)、瓦倫西亞納礦業綜合體(VMC)和聖伊格納西奧礦(“聖伊格納西奧”)以及位於墨西哥杜蘭戈的託皮亞礦(“託皮亞”)。
Selected 2023 Highlights:
2023 年精選亮點:
- Record production for 2023 of 3.5 million silver-equivalent ounces ("AgEq") representing a 64% increase over 2022; total AgEq ounces are derived from 1,756,911 ounces of silver, 16,987 ounces of gold, 3,555,466 pounds of lead and 3,868,262 pounds of zinc. (See note to table below for assumptions regarding the Company's AgEq calculations).
- Silver production of over 1.7 million ounces is a 74% increase over 2022; Guanajuato Silver is a primary silver producer; approximately 52% of revenues were derived from silver production in 2023, and approximately 40% of revenue came from gold.
- Record lead and zinc production of 3.5M pounds and 3.8M pounds respectively; zinc production demonstrated a 100% increase over 2022, while lead production was 164% higher over the same period. All lead and zinc production comes exclusively from the Company's Topia mine located in northwest Durango.
- 2023 saw average silver recoveries of 84.5% and average gold recoveries of 88.8%.
- Total tonnes mined was up 46% over 2022, reflecting the continued ramp-up of production at all four producing silver mines; total tonnes milled was up 42% over same period.
- Record revenue for 2023 of $66.1M representing a 79% increase over 2022; consolidated revenue for the year was generated by a realized average price of $23.41 per silver ounce, $1,947 per gold ounce, $0.97 per pound of lead, and $1.22 per pound of zinc.
- 2023年創紀錄的350萬盎司白銀當量盎司(“AgeQ”)的產量比2022年增長了64%;AgeQ盎司的總產量來自1,756,911盎司的白銀、16,987盎司的黃金、3,555,466磅的鉛和3,868,262磅的鋅。(有關公司AgeQ計算的假設,請參閱下表註釋)。
- 白銀產量超過170萬盎司,比2022年增長74%;瓜納華託白銀是主要的白銀生產商;2023年約有52%的收入來自白銀生產,約40%的收入來自黃金。
- 創紀錄的鉛和鋅產量分別爲350萬磅和380萬磅;鋅產量比2022年增長了100%,而同期鉛產量增長了164%。所有鉛鋅產量完全來自該公司位於杜蘭戈西北部的託皮亞礦。
- 2023年,白銀的平均回收率爲84.5%,黃金的平均回收率爲88.8%。
- 與2022年相比,開採總噸數增長了46%,這反映了所有四個生產銀礦的產量持續增加;同期的總開採噸數增長了42%。
- 2023年創紀錄的收入爲6,610萬美元,比2022年增長79%;該年度的合併收入來自每盎司白銀23.41美元、每盎司金1947美元、每磅鉛0.97美元和每磅鋅1.22美元。
James Anderson, Chairman and CEO said, "We have successfully navigated through a particularly challenging year for the junior mining industry; we emerge from this period with vastly improved assets in terms of production efficiency, scale, and economics. All four of our producing silver mines were the beneficiaries of major capex investments in 2022; these adjustments and upgrades are already positively impacting performance as we continue to build Guanajuato Silver into a mid-tier precious metals producer."
董事長兼首席執行官詹姆斯·安德森表示:“對於初級採礦業來說,我們成功地度過了特別艱難的一年;我們擺脫了這一時期,生產效率、規模和經濟方面的資產得到了極大的改善。我們生產的所有四個白銀礦都是2022年重大資本支出投資的受益者;隨着我們繼續將瓜納華託白銀打造成中端貴金屬生產商,這些調整和升級已經對業績產生了積極影響。”
Selected 2023 Financial Highlights:
2023 年財務摘要精選:
- Cash costs of $18.22 per AgEq ounce, and AISC(5) of $22.91 per AgEq ounce reflected higher capital expenditures during the year as the Company made significant investments designed to improve efficiencies across all operations. (See note to table below for assumptions regarding the Company's AgEq calculations).
- Over 45% of the 2023 net loss of $31.9M is comprised of non-cash items(8).
- As of December 31, 2023, the Company had cash and cash equivalents of $1,956,616 and negative working capital(5) of $18,441,913 compared with cash of $8,832,936 and negative working capital(5) of $5,972,704 as of December 31, 2021.
- 每盎司AgeQ的現金成本爲18.22美元,AISC(5) AgeQ每盎司22.91美元,反映了該年度的資本支出增加,原因是該公司進行了旨在提高所有業務效率的重大投資。(有關公司AgeQ計算的假設,請參閱下表註釋)。
- 2023 年 3190 萬美元的淨虧損中,超過 45% 由非現金項目組成(8)。
- 截至2023年12月31日,該公司的現金及現金等價物爲1,956,616美元,營運資金爲負數(5) 爲18,441,913美元,而現金爲8,832,936美元,營運資金爲負數(5) 截至2021年12月31日,爲5,972,704美元。
Consolidated Annual Production
合併年產量
Please refer to footnote 1 under the table below for the assumptions on the AqEq calculations.
有關AQeQ計算的假設,請參閱下表下的腳註1。
The following table summarizes the Company's consolidated operating and financial results for the years ended December 31, 2023 and 2022:
下表彙總了公司截至2023年12月31日和2022年12月31日止年度的合併經營和財務業績:
- Silver equivalents set out in this news release are calculated using 82.91:1 (Ag/Au), 0.04:1 (Ag/Pb) and 0.05:1 (Ag/Zn) ratio for YTD 2023 and an 83.22:1 (Ag/Au), 0.05:1 (Ag/Pb) and 0.07:1 (Ag/Zn) ratio for YTD 2022, respectively. Silver equivalents for 2021 are calculated using 80:1 (Ag/Au) for Q4 2021.
- Cash cost per silver equivalent ounce include mining, processing, and direct overhead.
- AlSC per Ag/Eq oz include mining, processing, direct overhead, corporate general and administration expenses, on-site exploration, reclamation, and sustaining capital.
- See Reconciliation of earnings before interest, taxes, depreciation, and amortization on page 29 of the MD&A and below in this news release.
- Mine Operating Cashflow Before Taxes, Cash cost per silver equivalent, cost per tonne, AISC per Ag/Eq ounce, EBITDA, Adjusted EBITDA and working capital are non-IFRS financial measure with no standardized meaning under IFRS, and therefore they may not be comparable to similar measures presented by other issuers. For further information and detailed reconciliations of non-IFRS financial measures to the most directly comparable IFRS measures see "Non-IFRS Financial Measures" below in this news release.
- Based on provisional sales before final price adjustments, before payable metal deductions, treatment, and refining charges.
- Mine operating cash flow before taxes is calculated by adding back depreciation, depletion, and inventory write-downs to mine operating loss.
- Non-cash items include depreciation, stock-based compensation, loss or gain on derivatives, change of fair value on contingent payments and unrealized FX.
- 本新聞稿中列出的白銀等價物分別使用2023年年初至今的82. 91:1(銀/金)、0. 04:1(銀/鉛)和0. 05:1(銀/鋅)比率以及2022年年初至今的83. 22:1(銀/金)、0. 05:1(銀/鉛)和0. 07:1(銀/鋅)比率計算得出。2021年的白銀當量是使用2021年第四季度的 80:1(銀/金)計算得出的。
- 每盎司白銀當量的現金成本包括採礦、加工和直接管理費用。
- 每Ag/Eq oz 的 AlSc 包括採礦、加工、直接管理費用、公司一般和管理費用、現場勘探、開墾和維持資本。
- 請參閱 MD&A 第 29 頁及本新聞稿下方的扣除利息、稅項、折舊和攤銷前的收益對賬。
- 礦山稅前運營現金流、每白銀當量現金成本、每噸成本、每農/當量盎司AISC、息稅折舊攤銷前利潤、調整後息稅折舊攤銷前利潤和營運資金是非國際財務報告準則財務指標,在國際財務報告準則下沒有標準化含義,因此它們可能無法與其他發行人提出的類似指標相提並論。欲了解更多信息以及非國際財務報告準則財務指標與最直接可比的國際財務報告準則指標的詳細對賬情況,請參閱本新聞稿下方的 “非國際財務報告準則財務指標”。
- 基於最終價格調整前的臨時銷售額,扣除應付金屬扣除額、處理費和煉油費用之前。
- 礦山稅前運營現金流的計算方法是將折舊、損耗和庫存減記與礦山運營虧損相加。
- 非現金項目包括折舊、股票薪酬、衍生品損益、或有付款的公允價值變動和未實現的外匯。
About Guanajuato Silver
關於瓜納華託白銀
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The Company produces silver and gold concentrates from the El Cubo Mine, Valenciana Mines Complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history. Additionally, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.
GSilver是一家貴金屬生產商,致力於恢復過去在墨西哥中部生產白銀和金礦的活力。該公司從埃爾庫博礦、瓦倫西亞納礦業綜合體和聖伊格納西奧礦生產白銀和黃金精礦;這三個礦山都位於瓜納華託州,該州已有480年的採礦歷史。此外,該公司還從杜蘭戈西北部的託皮亞礦生產銀、金、鉛和鋅精礦。瓜納華託白銀擁有四個運營礦山和三個加工設施,是墨西哥增長最快的白銀生產商之一。
Technical Information
技術信息
Reynaldo Rivera, VP of Exploration of GSilver, has approved the scientific and technical information contained in this news release. Mr. Rivera is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM - Registration Number 220979) and a "qualified person" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Rivera has verified the data that supports the technical information disclosed in this press release by reviewing production reports from each of the Company's mining operations.
GSilver勘探副總裁雷納爾多·里維拉已批准本新聞稿中包含的科學和技術信息。里維拉先生是澳大利亞礦業和冶金學會(Ausimm——註冊號220979)的會員,也是國家儀器43-101定義的 “合格人士” 礦產項目披露標準。 里維拉先生通過審查公司每家採礦業務的生產報告,覈實了支持本新聞稿中披露的技術信息的數據。
ON BEHALF OF THE BOARD OF DIRECTORS
代表董事會
"James Anderson"
Chairman and CEO
“詹姆斯·安德森”
董事長兼首席執行官
For further information regarding Guanajuato Silver Company Ltd., please contact:
有關瓜納華託白銀有限公司的更多信息,請聯繫:
JJ Jennex, Gerente de Comunicaciones, T: 604 723 1433
E: jjj@Gsilver.com
Gsilver.com
JJ Jennex,Gerente de Comunicaciones,T:604 723 1433
E: jjj@Gsilver.com
gsilver.com
Guanajuato Silver Bullion Store
瓜納華託銀條商店
Please visit our Bullion Store, where Guanajuato Silver coins and bars can be purchased.
請訪問我們的金銀商店,在那裏可以購買瓜納華託州的銀幣和金條。
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所風險投資交易所及其監管服務提供商(該術語在多倫多證券交易所風險投資交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
Forward-Looking Statements
前瞻性陳述
This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, the improved assets in terms of production efficiency, scale, and economics; the positive impact of capex investments; the intention to build Guanajuato Silver into a mid-tier precious metals producer; and the Company's status as one of the fastest growing silver producers in Mexico.
本新聞稿包含某些與未來事件或未來業績有關的前瞻性陳述和信息,包括但不限於資產在生產效率、規模和經濟方面的改善;資本支出投資的積極影響;將瓜納華託白銀打造成中級貴金屬生產商的意向;以及該公司作爲墨西哥增長最快的白銀生產商之一的地位。
Such forward-looking statements and information reflect management's current beliefs and expectations and are based on information currently available to and assumptions made by the Company; which assumptions, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: our estimates of mineralized material at El Cubo, VMC, San Ignacio and Topia and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock conforming to sampled results and metallurgical performance; available tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to production estimates; the ability of the Company to ramp up processing of mineralized material at its processing plants at the projected rates and source sufficient high grade mineralized material to fill such processing capacity; prices for silver, gold and other metals remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects and to satisfy current liabilities and obligations including debt repayments; capital cost estimates; decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation) and inflation rates remaining as estimated; no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
此類前瞻性陳述和信息反映了管理層當前的信念和預期,基於公司目前獲得的信息和做出的假設;這些假設雖然被公司視爲合理,但本質上會受到重大的運營、業務、經濟和監管不確定性和突發事件的影響。這些假設包括:我們對埃爾庫博、VMC、聖伊格納西奧和託皮亞礦化材料的估計及其所依據的假設,包括符合抽樣結果和冶金性能的岩石岩土工程和冶金特徵;可供開採和加工的礦化材料的可用噸位;資源等級和回收率;適當地應用於產量估算的假設和貼現率;公司加強加工的能力其加工廠的礦化材料預計費率和供應足夠的高品位礦化材料來填補此類加工能力;銀、金和其他金屬的價格保持預期;貨幣匯率保持預期;公司項目和償還債務等流動負債和義務的可用資金;資本成本估計;退役和回收估計;能源投入、勞動力、材料、用品和服務(包括運輸)的價格和通貨膨脹率保持在估計水平;不與勞動力相關的數據中斷;計劃施工和生產沒有計劃外延遲或中斷;及時收到所有必要的許可證、執照和監管部門的批准;以及遵守環境、健康和安全法律的能力。上述假設清單並不詳盡。
Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results, level of activity, production levels, performance or achievements of GSilver to differ materially from those expected including, but not limited to, market conditions, availability of financing, future prices of gold, silver and other metals, currency rate fluctuations, rising inflation and interest rates, actual results of production, exploration and development activities, actual resource grades and recoveries of silver, gold and other metals, availability of third party mineralized material for processing, unanticipated geological or structural formations and characteristics, geopolitical conflicts including wars, environmental risks, operating risks, accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to successfully discover and mine sufficient quantities of high grade mineralized material at El Cubo, VMC, San Ignacio and Topia for processing at its existing mills to increase production, tonnage milled and recoveries rates of gold, silver, and other metals in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to process mineralized material from El Cubo, VMC, San Ignacio, Topia and its other mines is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk of failure, both economically and technically. Mineral resources and mineralized material that are not Mineral Reserves do not have demonstrated economic viability, are considered too speculative geologically to have the economic considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the Company's projected production of silver, gold and other metals will be realized. In addition, there are no assurances that the Company will meet its production forecasts or generate the anticipated cash flows from operations to satisfy its scheduled debt payments or other liabilities when due or meet financial covenants to which the Company is subject or to fund its exploration programs and corporate initiatives as planned. There is also uncertainty about the impact of the resurgence of COVID-19, the ongoing war in Ukraine and Israel-Palestine conflict, inflation and rising interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all and economic activity in general. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statements and information made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at including the Company's most recently filed annual information form. These forward-looking statements and information are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.
請讀者注意,此類前瞻性陳述和信息既不是承諾也不是保證,並且存在風險和不確定性,可能導致gSilver的未來業績、活動水平、生產水平、業績或成就與預期存在重大差異,包括但不限於市場狀況、融資可用性、黃金、白銀和其他金屬的未來價格、匯率波動、通貨膨脹和利率上升、生產、勘探和開發活動的實際結果、實際結果銀、金和其他金屬的資源等級和回收率、用於加工的第三方礦化材料的可得性、意想不到的地質或結構形成和特徵、地緣政治衝突,包括戰爭、環境風險、運營風險、事故、勞動問題、設備或人員延誤、延遲獲得政府或監管機構的批准和許可、保險不足以及採礦業的其他風險。無法保證GSilver能夠在埃爾庫博、VMC、聖伊格納西奧和託皮亞成功發現和開採足夠數量的高品位礦化材料,供其現有工廠進行加工,從而按預期的數量、品位、回收率、成本和時間表提高黃金、白銀和其他金屬的產量、研磨噸位和回收率。此外,GSilver決定加工來自埃爾庫博、VMC、聖伊格納西奧、託皮亞及其其他礦山的礦化材料並不是基於對顯示出經濟和技術可行性的礦產儲量可行性研究,因此在經濟和技術上都面臨更大的不確定性和失敗風險。不屬於礦產儲備的礦產資源和礦化材料沒有表現出經濟可行性,在地質學上被認爲過於投機,無法考慮經濟因素,並可能受到環境、許可、法律、所有權、社會政治、營銷和其他相關問題的實質性影響。無法保證該公司預計的銀、黃金和其他金屬產量將實現。此外,無法保證公司將在到期時實現其產量預測或產生預期的運營現金流以償還計劃債務或其他負債,也無法保證公司將遵守的財務契約,也無法保證按計劃爲其勘探計劃和公司計劃提供資金。COVID-19 捲土重來、持續的烏克蘭戰爭和以色列-巴勒斯坦衝突、通貨膨脹和利率上升的影響以及它們將對公司的運營、供應鏈、及時進入採礦項目或採購設備、物資、承包商和其他人員的能力以及總體經濟活動產生的影響,也存在不確定性。因此,讀者不應過分依賴前瞻性陳述或信息。本新聞稿中的所有前瞻性陳述和信息均受這些警示性陳述以及我們在SEDAR上提供的持續披露文件(包括公司最近提交的年度信息表)中的警示性陳述和信息的限定。這些前瞻性陳述和信息自本文發佈之日起作出,除非法律要求,否則公司不承擔任何更新或修改這些陳述和信息以反映新事件或情況的義務。
NON-IFRS FINANCIAL MEASURES
非國際財務報告準則財務指標
The Company has disclosed certain non-IFRS financial measures and ratios in this news release as discussed below. These non-IFRS financial measures and non-IFRS ratios are widely reported in the mining industry as benchmarks for performance and are used by Management to monitor and evaluate the Company's operating performance and ability to generate cash. The Company believes that, in addition to financial measures and ratios prepared in accordance with IFRS, certain investors use these non-IFRS financial measures and ratios to evaluate the Company's performance. However, the measures do not have a standardized meaning under IFRS and may not be comparable to similar financial measures disclosed by other companies. Accordingly, non-IFRS financial measures and non-IFRS ratios should not be considered in isolation or as a substitute for measures and ratios of the Company's performance prepared in accordance with IFRS.
該公司在本新聞稿中披露了某些非國際財務報告準則的財務指標和比率,如下所述。這些非國際財務報告準則財務指標和非國際財務報告準則比率在採礦業被廣泛報告爲業績基準,管理層使用這些指標和非國際財務報告準則比率來監測和評估公司的經營業績和產生現金的能力。該公司認爲,除了根據國際財務報告準則編制的財務指標和比率外,某些投資者還使用這些非國際財務報告準則的財務指標和比率來評估公司的業績。但是,根據國際財務報告準則,這些指標沒有標準化的含義,可能無法與其他公司披露的類似財務指標相提並論。因此,不應孤立地考慮非國際財務報告準則財務指標和非國際財務報告準則比率,也不能將其作爲根據國際財務報告準則編制的公司業績指標和比率的替代品。
Non-IFRS financial measures are defined in National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure ("NI 52-122") as a financial measure disclosed that (a) depicts the historical or expected future financial performance, financial position or cash flow of an entity, (b) with respect to its composition, excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the entity, (c) is not disclosed in the financial statements of the entity, and (d) is not a ration, fraction, percentage or similar representation.
National Instrument 52-112——非公認會計准則和其他財務指標披露(“NI 52-122”)中將非國際財務報告準則財務指標定義爲披露的一項財務指標,其中(a)描述了實體的歷史或預期未來財務業績、財務狀況或現金流,(b)就其構成而言,不包括在披露的最直接可比財務指標構成中或包括不包括的金額在該實體的主要財務報表中,(c) 未披露該實體的財務報表,以及 (d) 不是比例、分數、百分比或類似的表述形式。
A non-IFRS ratio is defined by NI 52-112 as a financial measure disclosed that (a) is in the form of a ratio, fraction, percentage, or similar representation, (b) has a non-IFRS financial measure as one or more of its components, and (c) is not disclosed in the financial statements.
NI 52-112將非國際財務報告準則比率定義爲披露的財務指標,即(a)以比率、分數、百分比或類似表示形式披露,(b)將非國際財務報告準則財務指標作爲其一個或多個組成部分,以及(c)未在財務報表中披露。
WORKING CAPITAL
營運資金
Working capital is a non-IFRS measure that is a common measure of liquidity but does not have any standardized meaning. The most directly comparable measure prepared in accordance with IFRS is current assets net of current liabilities. Working capital is calculated by deducting current liabilities from current assets. Working capital should not be considered in isolation or as a substitute from measures prepared in accordance with IFRS. The measure is intended to assist readers in evaluating the Company's liquidity.
營運資金是一種非國際財務報告準則衡量標準,是衡量流動性的常用指標,但沒有任何標準化含義。根據國際財務報告準則編制的最直接可比的衡量標準是扣除流動負債後的流動資產。營運資金是通過從流動資產中扣除流動負債來計算的。不應孤立地考慮營運資金,也不能將其作爲根據《國際財務報告準則》制定的措施的替代品。該措施旨在幫助讀者評估公司的流動性。
MINE OPERATING CASH FLOW BEFORE TAXES
礦山稅前運營現金流
Mine operating cash flow before taxes is a non-IFRS measure that does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Mine operating cash flow is calculated as revenue minus production costs, transportation and selling costs and inventory changes. Mine operating cash flow is used by management to assess the performance of the mine operations, excluding corporate and exploration activities, and is provided to investors as a measure of the Company's operating performance.
礦山稅前運營現金流是一項非國際財務報告準則指標,沒有國際財務報告準則規定的標準化含義,因此可能無法與其他發行人提出的類似指標相提並論。礦山運營現金流的計算方法是收入減去生產成本、運輸和銷售成本以及庫存變化。管理層使用礦山運營現金流來評估礦山運營的業績,不包括公司和勘探活動,並作爲衡量公司經營業績的指標提供給投資者。
EBITDA
EBITDA
EBITDA is a non-IFRS financial measure, which excludes the following from net earnings:
息稅折舊攤銷前利潤是非國際財務報告準則的財務指標,淨收益中不包括以下內容:
- Income tax expense;
- Finance costs;
- Amortization and depletion.
- 所得稅支出;
- 財務成本;
- 攤銷和耗盡。
Adjusted EBITDA excludes the following additional items from EBITDA:
調整後的息稅折舊攤銷前利潤不包括以下額外項目:
- Share based compensation;
- Non-recurring impairments (reversals);
- Loss (gain) on derivative;
- Significant other non-routine finance items.
- 基於股份的薪酬;
- 非經常性減值(逆轉);
- 衍生品損失(收益);
- 其他重要非例行財務項目。
Adjusted EBITDA per share is calculated by dividing Adjusted EBITDA by the basic weighted average number of shares outstanding for the period.
調整後的每股息稅折舊攤銷前利潤的計算方法是將調整後的息稅折舊攤銷前利潤除以該期間已發行股票的基本加權平均數。
Management believes EBITDA is a valuable indicator of the Company's ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations, and fund capital expenditures. Management uses EBITDA for this purpose. EBITDA is also frequently used by investors and analysts for valuation purposes whereby EBITDA is multiplied by a factor or "EBITDA multiple" based on an observed or inferred relationship between EBITDA and market values to determine the approximate total enterprise value of a Company. Management believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results because it is consistent with the indicators management uses internally to measure the Company's performance, and is an indicator of the performance of the Company's mining operations.
管理層認爲,息稅折舊攤銷前利潤是衡量公司通過產生運營現金流來爲營運資本需求、還本付息債務和資本支出提供資金來產生流動性的能力的重要指標。管理層將息稅折舊攤銷前利潤用於此目的。投資者和分析師還經常將息稅折舊攤銷前利潤用於估值目的,根據息稅折舊攤銷前利潤與市場價值之間觀察到或推斷的關係,將息稅折舊攤銷前利潤乘以一個係數或 “息稅折舊攤銷前利潤倍數”,以確定公司的近似企業總價值。管理層認爲,調整後的息稅折舊攤銷前利潤爲投資者和其他人了解和評估我們的經營業績提供了有用的信息,因爲它與管理層內部用來衡量公司業績的指標一致,也是公司採礦業務業績的指標。
EBITDA is intended to provide additional information to investors and analysts. It does not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of operating performance prepared in accordance with IFRS. EBITDA excludes the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances, and therefore is not necessarily indicative of operating profit or cash flow from operations as determined by IFRS. Other companies may calculate EBITDA and Adjusted EBITDA differently.
息稅折舊攤銷前利潤旨在爲投資者和分析師提供更多信息。它在《國際財務報告準則》下沒有任何標準化的定義,不應孤立地考慮,也不能作爲根據《國際財務報告準則》編制的經營業績衡量標準的替代品。息稅折舊攤銷前利潤不包括融資活動和稅收現金成本的影響,以及運營營運資金餘額變化的影響,因此不一定表示國際財務報告準則確定的營業利潤或運營現金流。其他公司可能以不同的方式計算息稅折舊攤銷前利潤和調整後的息稅折舊攤銷前利潤。
Cash Cost per Ag/Eq Ounce, All-In Sustaining Cost per Ag/Eq Ounce and Production Cost per Tonne
每Ag/Eq 盎司的現金成本、每Ag/Eq 盎司的全額維持成本和每噸的生產成本
Cash costs per silver equivalent oz and production costs per tonne are measures developed by precious metals companies in an effort to provide a comparable standard; however, there can be no assurance that the Company's reporting of these non-IFRS measures and ratios are similar to those reported by other mining companies. Cash costs per silver equivalent ounce and total production cost per tonne are non-IFRS performance measures used by the Company to manage and evaluate operating performance at its operating mining unit, in conjunction with the related IFRS amounts. They are widely reported in the silver mining industry as a benchmark for performance, but do not have a standardized meaning and are disclosed in addition to IFRS measures. Production costs include mining, milling, and direct overhead at the operation sites. Cash costs include all direct costs plus royalties and special mining duty. Total production costs include all cash costs plus amortization and depletion, changes in amortization and depletion in finished goods inventory and site share-based compensation. Cash costs per silver equivalent ounce is calculated by dividing cash costs and total production costs by the payable silver ounces produced. Production costs per tonne are calculated by dividing production costs by the number of processed tonnes. The following tables provide a detailed reconciliation of these measures to the Company's direct production costs, as reported in its consolidated financial statements.
每盎司白銀當量的現金成本和每噸生產成本是貴金屬公司爲提供可比標準而制定的衡量標準;但是,無法保證公司對這些非國際財務報告準則指標和比率的報告與其他礦業公司報告的指標和比率相似。每盎司白銀當量的現金成本和每噸的總生產成本是非國際財務報告準則的績效指標,公司用於管理和評估其運營採礦單位的經營業績以及相關的國際財務報告準則金額。它們在白銀開採業被廣泛報道爲業績基準,但沒有標準化的含義,除了《國際財務報告準則》指標外還披露了這些指標。生產成本包括採礦、銑削和作業現場的直接管理費用。現金成本包括所有直接成本加上特許權使用費和特殊採礦稅。總生產成本包括所有現金成本加上攤銷和損耗、攤銷變動和製成品庫存枯竭以及基於場地份額的薪酬。每盎司白銀當量的現金成本是通過現金成本和總生產成本除以生產的應付白銀盎司來計算的。每噸生產成本的計算方法是將生產成本除以加工噸數。下表詳細說明了這些指標與公司合併財務報表中報告的直接生產成本之間的對賬。
All-in Sustaining Costs ("AISC") is a non-IFRS performance measure and was calculated based on guidance provided by the World Gold Council ("WGC"). WGC is not a regulatory industry organization and does not have the authority to develop accounting standards for disclosure requirements. Other mining companies may calculate AISC differently as a result of differences in underlying accounting principles and policies applied, as well as differences in definitions of sustaining capital expenditures. AISC is a more comprehensive measure than cash cost per ounce and is useful for investors and management to assess the Company's operating performance by providing greater visibility, comparability and representation of the total costs associated with producing silver from its current operations, in conjunction with related IFRS amounts. AISC helps investors to assess costs against peers in the industry and help management assess the performance of its mine.
全部維持成本(“AISC”)是非國際財務報告準則的績效指標,是根據世界黃金協會(“WGC”)提供的指導計算得出的。WGC不是監管行業組織,無權爲披露要求制定會計準則。由於所適用的基本會計原則和政策的差異以及持續資本支出的定義不同,其他礦業公司的AISC計算方式可能會有所不同。AISC是一項比每盎司現金成本更全面的衡量標準,通過提高與當前業務生產白銀相關的總成本以及相關的國際財務報告準則金額的知名度、可比性和代表性,有助於投資者和管理層評估公司的經營業績。AISC幫助投資者評估與業內同行對比的成本,並幫助管理層評估其礦山的績效。
AISC includes total production costs (IFRS measure) incurred at the Company's mining operation, which forms the basis of the Company's total cash costs. Additionally, the Company includes sustaining capital expenditures, corporate general and administrative expense, operating lease payments and reclamation cost accretion. The Company believes this measure represents the total sustainable costs of producing silver and gold concentrate from current operations and provides additional information of the Company's operational performance and ability to generate cash flows. As the measure seeks to reflect the full cost of silver and gold concentrate production from current operations, new projects capital at current operation is not included. Certain other cash expenditures, including share-based payments, tax payments, dividends and financing costs are also not included.
AISC包括公司採礦業務產生的總生產成本(國際財務報告準則衡量標準),這構成了公司總現金成本的基礎。此外,公司還包括持續的資本支出、公司一般和管理費用、運營租賃付款和回收成本的增加。該公司認爲,該指標代表了通過當前業務生產白銀和黃金精礦的總可持續成本,並提供了有關公司運營業績和產生現金流能力的更多信息。由於該措施旨在反映當前業務中白銀和黃金精礦生產的全部成本,因此不包括當前運營中的新項目資本。某些其他現金支出,包括基於股份的支付、納稅、股息和融資成本,也未包括在內。
The following tables provide detailed reconciliations of these measures to cost of sales, as reported in notes to the Company's consolidated financial statements.
下表詳細說明了這些指標與銷售成本的對賬,如公司合併財務報表附註所示。
- Silver equivalents are calculated using an 85.10:1 (Ag/Au), 0.04:1 (Ag/Pb) and 0.05:1 (Ag/Zn) ratio for Q4 2023, and an 81.35:1 (Ag/Au), 0.05:1 (Ag/Pb) and 0.06:1 (Ag/Zn) ratio for Q4 2022, respectively
- Cash cost per silver equivalent ounce include mining, processing, and direct overhead.
- AlSC per oz include mining, processing, direct overhead, corporate general and administration expenses, on-site exploration, reclamation, and sustaining capital.
- Production costs include mining, milling, and direct overhead at the operation sites.
- Consolidated amount for the three months ended December 31, 2023, excludes $3,986 in relation to silver bullion transportation and selling cost from cost of sales.
- 白銀當量是使用 2023 年第四季度的 85. 10:1(銀/金)、0. 04:1(銀/鉛)和 0. 05:1(銀/鋅)比率以及2022年第四季度的 81. 35:1(銀/金)、0. 05:1(銀/鉛)和 0. 06:1(銀/鋅)比率計算得出
- 每盎司白銀當量的現金成本包括採礦、加工和直接管理費用。
- 每盎司ALSC包括採礦、加工、直接管理費用、公司一般和管理費用、現場勘探、開墾和維持資本。
- 生產成本包括採礦、銑削和作業現場的直接管理費用。
- 截至2023年12月31日的三個月的合併金額不包括與銀條運輸相關的3,986美元和銷售成本中的銷售成本。
- Silver equivalents are calculated using an 82.91:1 (Ag/Au), 0.04:1 (Ag/Pb) and 0.05:1 (Ag/Zn) ratio for YTD 2023 and an 82:78:1 (Ag/Au), 0.05:1 (Ag/Pb) and 0.07:1 (Ag/Zn) ratio for YTD 2022.
- Cash cost per silver equivalent ounce include mining, processing, and direct overhead.
- AlSC per oz include mining, processing, direct overhead, corporate general and administration expenses, on-site exploration, reclamation, and sustaining capital.
- Production costs include mining, milling, and direct overhead at the operation sites.
- Consolidated amount excludes $89,108 in relation to silver bullion transportation and selling cost from cost of sales.
- 白銀當量是使用2023年年初至今的82. 91:1(銀/金)、0. 04:1(銀/鉛)和0. 05:1(銀/鋅)比率以及2022年年初至今的82:78:1(銀/金)、0. 05:1(銀/鉛)和0. 07:1(銀/鋅)比率計算得出的。
- 每盎司白銀當量的現金成本包括採礦、加工和直接管理費用。
- 每盎司ALSC包括採礦、加工、直接管理費用、公司一般和管理費用、現場勘探、開墾和維持資本。
- 生產成本包括採礦、銑削和作業現場的直接管理費用。
- 合併金額不包括與銀條運輸相關的89,108美元和銷售成本中的銷售成本。
SOURCE: Guanajuato Silver Company Ltd.
來源:瓜納華託白銀有限公司