N. Eric Fier, CEO, commented, “Marking another significant milestone for SilverCrest, Q1, 2023 was our first full quarter of production since Las Chispas was declared commercial in November 2022. We generated $19.3 million of net free cash flow allowing for accelerated debt prepayment of $25.0 million and a robust quarter end cash position of $45.8 million.”
“We are pleased to be able to conduct our program to drill holes to intersect the Palos Verdes vein at significantly deeper levels than in the previous drilling campaigns. We will be able to test the vein several hundred meters underneath the surface exposures with the first hole being underway.”
The Company intends to use the net proceeds of the offering to further advance studies at the Esperanza Gold Project, exploration and drilling activities at the silver projects and general working capital purposes.
“We are very excited with MCR’s progress at the SDA Plant,” says Joanne Freeze, President and CEO of Xali Gold. “The Profit Sharing Agreement with MCR and the same with Sun River Gold on the El Oro Tailings project will allow us to put our assets to work and provide cash flow while we continue to evaluate other opportunities.”
Fortuna Silver Mines Inc. is pleased to report that the illegal blockade at its San Jose Mine in Mexico has been lifted. Compañía Minera Cuzcatlán and union workers have reached an agreement to resume operations at the mine and processing plant which recommenced on May 10 at 7:00 p.m. local time.
“As we continue our growth in silver production, silver revenues are now exceeding gold revenues for the second consecutive quarter,” said Phillips S. Baker Jr., President and CEO. “Greens Creek had excellent operational performance achieving record throughput and very strong silver and record gold production, and Lucky Friday exceeded 1.2 million ounces of silver production for third time out of the last four quarters.”
“The consistent operational and cost performance that investors have come to expect of Torex continued in the first quarter of 2023, placing the Company in an excellent position to deliver on full year operational guidance for a fifth year in a row. During the quarter, the team produced 122,918 ounces of gold at an all-in sustaining cost of $1,079 per ounce, implying an all-in sustaining costs margin of 42%.”
“Going forward, Pan American will be a significantly larger, more diversified company following our acquisition of Yamana. Our guidance for 2023 demonstrates the positive impact of the four new mines on production and costs, and we are excited by the growth opportunities the combined portfolio presents.”
“GoGold maintains a strong balance sheet with over $100 million USD in cash which continues to allow us to advance our Los Ricos South project in an expeditious manner.”
“Step-out drilling along the southern extent of Copala continues to deliver high-grades over broad widths, beyond the January 2023 resource wireframes,” commented Michael Konnert, President & CEO. “Today’s results extend the Copala mineralized footprint by ~150m to the south of previously reported drilling and represents a potential shoot of new mineralization with a vertical profile of ~280m.”
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