The following is a summary of the SilverCrest Metals, Inc. (SILV) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 revenue was reported at $72.7 million with mine operating earnings of $41.5 million.

• Record operating cash flow of $39.6 million, or $0.27 per share, and free cash flow of $24.3 million, or $0.16 per share.

• Net earnings impacted by foreign exchange losses were $6.5 million, or $0.04 per share.

• Corporate all-in sustaining costs for Q2 were $16.88 per ounce, with a first-half average of $14.89 per ounce.

Business Progress:

• SilverCrest Metals announced an increase in annual sales guidance to 10 million to 10.3 million silver equivalent ounces, up from the original 9.8 million to 10.2 million ounces.

• Treasury assets increased by 34% to $122.3 million, and bullion holdings grew to $24 million.

• Enhanced underground mining rates at the Las Chispas mine exceeded plan, averaging 1,100 tonnes per day.

• Launched second annual ESG report, with significant impacts on local agricultural communities through water stewardship plans.

Opportunities:

• The company's strong performance and revised operational guidance suggest continued growth and robust operations.

Risks:

• Net earnings were notably impacted by the depreciation of the Mexican peso, indicating potential future vulnerabilities related to foreign exchange fluctuations.

More details: SilverCrest Metals IR

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