The following is a summary of the SilverCrest Metals Inc. (SILV) Q1 2024 Earnings Call Transcript:
Financial Performance:
SilverCrest Metals reported Q1 revenue of $63.6 million with cost of sales at $26.2 million.
The company exceeded planned sales, reaching 2.6 million ounces of silver equivalent.
This generated a net earning of $33.9 million, or $0.23 per share.
Despite the payment of $26.2 million for 2023 taxes and mining duties, the company reported positive retained earnings of $21.5 million.
Business Progress:
SilverCrest Metals witnessed strong operational results and financial flexibility in Q1 with lower than planned All-Sustaining-Costs.
Transitioning to renewable power, especially solar, has begun at Las Chispas.
The company's exploration efforts are focused on infill and expansion drilling at Las Chispas and nearby deposits.
They aim to sell 9.8 million to 10.2 million ounces and achieve an all-in sustaining cost within the $15 to $15.90 per ounce range in 2024.
More details: SilverCrest Metals IR
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