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.