SilverCrest's 2024 Fourth Quarter Operational Highlights
SilverCrest Metals Inc. is thrilled to share its operational achievements for the fourth quarter and the full year of 2024, courtesy of the remarkable performance from the Las Chispas Operation. These results highlight an exceptional year, confirming the company’s ability to enhance its asset extraction and processing capabilities.
Remarkable Sales Performance
For Q4 2024, SilverCrest reported the recovery of 13,993 ounces of gold and 1.38 million ounces of silver, totaling 2.50 million ounces of silver equivalent. This exceptional performance translated into sales of 15,100 ounces of gold and 1.45 million ounces of silver, amounting to 2.65 million silver equivalent ounces. With an average realized price of $2,647 per ounce for gold and $31.26 per ounce for silver, the total revenue for Q4 reached an impressive $85.2 million, marking a 6% increase from Q3 2024.
Strong Yearly Performance
During the entire year 2024, the company recovered 58,943 ounces of gold and 5.66 million ounces of silver, achieving an impressive total of 10.35 million ounces of silver equivalent. Moreover, SilverCrest exceeded its yearly sales guidance by selling 59,804 ounces of gold and 5.75 million ounces of silver, contributing to a total revenue of $301.9 million. This represents a staggering $56.8 million, or 23%, increase compared to the previous year. Notably, the company ended the year with treasury assets amounting to $193.4 million, boosted by an increase of $88.3 million throughout the year.
Leadership Achievements and Recognition
N. Eric Fier, CEO of SilverCrest, expressed his pride in the team, acknowledging that this marked the second consecutive year in which the Las Chispas operation exceeded operational expectations. Safety remained a key priority, with no lost time injuries reported during the year.
Diligent Efforts Resulting in Record Results
These milestones were made possible thanks to the dedicated efforts of the employees in Mexico and Canada. SilverCrest achieved record annual sales that not only surpassed the upper range of its 2024 guidance but also delivered a 15% increase in the tonnes mined compared to the planned budget. The operations met targeted plant throughput and availability while achieving grades that exceed initial projections.
Management Changes
The company has announced recent promotions within its management team, recognizing Clifford Lafleur as the new Senior Vice President of Operations and Tara Hassan as the new Senior Vice President of Corporate Development. Their invaluable contributions have undoubtedly played a role in SilverCrest’s successes.
About SilverCrest Metals Inc.
SilverCrest is a reputable Canadian precious metals producer with a primary focus on the Las Chispas Operation. The company emphasizes expanding its resources and reserves while striving to discover and develop high-value projects in the silver-gold sector across the Americas. Led by an experienced management team, SilverCrest is committed to delivering projects through all stages of development competently and efficiently.
Frequently Asked Questions
What were SilverCrest's total sales figures for 2024?
In 2024, SilverCrest achieved total sales of 59,804 ounces of gold and 5.75 million ounces of silver, amounting to a total revenue of $301.9 million.
How did the Q4 2024 performance compare to previous quarters?
In Q4 2024, SilverCrest generated revenue of $85.2 million, marking a 6% increase from Q3 2024 due to higher average realized prices for gold and silver.
What safety measures were taken at the Las Chispas operation?
SilverCrest prioritized safety throughout the year, reporting no lost time injuries, thereby ensuring the well-being of its employees.
Who were the new appointees in SilverCrest's management team?
Clifford Lafleur was promoted to Senior Vice President of Operations, and Tara Hassan was appointed Senior Vice President of Corporate Development.
What are SilverCrest's future plans?
The company aims to further advance its operations and expand its asset base by exploring and developing new precious metals projects while maintaining strong operational performance across its existing sites.
