SilverCrest Metals – 2023 Sales And Corporate AISC Beat Guidance, 2024 Balance Sheet and Exploration Outlook
Chris Ritchie, President of SilverCrest Metals (“SilverCrest” or the “Company”) (TSX:SIL – NYSE:SILV) joins us to recap the Q4 and year-end financial results from the Las Chispas Mine, in Mexico, released on March 11th. The Company beat guidance on 2023 sales and all-in sustaining costs (“AISC”) as well as an increase of $54.4million in treasury assets.
We have Chris share his thoughts on the pop in share price on the back of the financial results and ask about a possible short squeeze. We then focus on the balance sheet strength, with treasury assets of $105.2 million ($86.0 million cash and $19.2 million in bullion). We ask how the Company will manage the cash and build bullion on the balance sheet. The Company is committed to building the bullion holdings and leading the sector and other producers to do this as well.
Since costs are such a focus for investors in the sector we focus on the AISC, reported at $12.58 per oz AgEq sold which beat the low end of the 2023 guidance range of $12.75 to $13.75 per oz AgEq sold. As costs are rising industry wide we focus on the 2024 guidance and how the Company is controlling cost increases.
We wrap up with a comment on the exploration plans for this year at the Las Chispas Project. Also listen to the prior interview with Chris where we focused on the 2024 guidance – click here to listen.
Click here to visit the SilverCrest website to read over the full Q4 and 2023 financial results.
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SilverCrest Metals: A Significant Earnings Beat In Q4 2023
Bang For The Buck – Seeking Alpha – Mar. 11, 2024
https://seekingalpha.com/article/4677351-silvercrest-metals-a-significant-earnings-beat-in-q4-2023
Hi Ex, I sent you an e-mail, I think you might be interested in. DT
Thanks guys, you’ve been the mainstay in the industry of keeping us abreast with president Chris Ritchie progressive voice of developing and growing the company. Seeking Alpha suggests waiting for a pullback, but if we get a breakout this H1, 2024, and they meet or beat free cash flow and earning estimates, this baby could easily see $10+ sooner rather than later. Holding strong since 2015 with a ton of unjustified takedowns in that duration. AYA can’t hold a candle to Silvercrest, no mention of looking for actual nearby properties in particular, maybe the next topic of conversation in your next podcast. I’d love for Silvercrest to consider Blackrock Silver at these still wholesale prices and have another jurisdiction for operation.
Silver is up BIGLY today, @ 3.26% and just under $25. Santacruz made a move based on today’s performance of the price of silver. I will believe it when Santacruz shows more life, (up18.18%) The Phoenix is stirring but will it get to stand up before it falls down. LOL! DT ✔