SilverCrest Metals (TSX: SIL) has released its production results for the fourth quarter and full year of 2024. The production comes from the firms Las Chispas operation, which is found in Sonora, Mexico.
In the fourth quarter, the company managed to produce 2.50 million ounces of silver equivalent, which consisted of 1.38 million ounces of silver and 13,993 ounces of gold. Production declined from 2.60 million silver equivalent ounces in the third quarter.
Sales during the quarter meanwhile consisted of 2.65 million silver equivalent ounces. 1.45 million ounces of silver was sold at an average price of $31.26 per ounce, while 15,100 ounces of gold were sold at an average price of $2,647 per ounce. Revenue for the quarter is said to have amounted to $85.2 million.
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For the full fiscal year, SilverCrest produced 10.35 million silver equivalent ounces, which comprised of 5.66 million ounces of silver and 58,943 ounces of gold. Sales amounted 10.5 million silver equivalent ounces, with 5.75 million ounces of silver sold at an average price of $28.03 per ounce. 59,804 ounces of gold were also sold, with those ounces sold at an average price of $2,356 each. Annual revenue for 2024 reached $301.9 million.
Guidance had called for sales of 10.0 to 10.3 million silver equivalent ounces.
SilverCrest ended 2024 with $193.4 million in treasury assets, including $153.41 million in cash and a further $40.0 million in bullion.
SilverCrest Metals last traded at $14.55 on the TSX.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to these organizations. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
