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Earnings Call Summary | SilverCrest Metals(SILV.US) Q2 2024 Earnings Conference

moomoo AI ·  Aug 8, 2024 19:33  · Conference Call

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

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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