Welcome to our dedicated page for Silvercrest Meta news (Ticker: SILV), a resource for investors and traders seeking the latest updates and insights on Silvercrest Meta stock.
SilverCrest Metals Inc. (SILV) provides investors and industry stakeholders with centralized access to official corporate communications and market developments. This resource aggregates all material announcements from the Canadian precious metals producer, offering insight into its exploration progress, operational milestones, and strategic direction in Mexico's mining sector.
Visitors will find timely updates including quarterly financial results, resource estimates, project commissioning details, and leadership decisions. The curated collection serves as an essential reference for tracking the company's phased development approach from discovery through production in historic silver-gold districts.
Key announcement categories include exploration updates from active drilling programs, production figures from operating mines, acquisition disclosures, and technical reports detailing resource expansion. All content is sourced directly from company filings and press releases to ensure accuracy.
Bookmark this page for streamlined monitoring of SilverCrest's operational advancements and corporate developments. Regular updates provide stakeholders with the necessary information to assess the company's position within the evolving precious metals market.
Silver Valley Metals Corp. (TSXV: SILV, OTCQB: SVMFF) announced positive exploration results from the East Curlew target at the Ranger-Page Project in Idaho. The East Curlew target, located 230 meters east of the historic Blackhawk mine, features a significant Induced Polarization anomaly measuring 450 meters in strike length. The geochemical analyses revealed high levels of silver (up to 0.6 opt Ag) and other minerals, validating its potential for mineralization. This target is one of seven prioritized from the 2022 exploration campaign, and further drilling is planned for 2023 to explore these promising findings.
On March 13, 2023, SilverCrest Metals reported its audited financial results for the year ending December 31, 2022. The Las Chispas Mine achieved commercial production in Q4 2022, generating $28.4 million in mine operating income with total revenues of $43.5 million from the sale of 11,400 ounces of gold and 1.1 million ounces of silver. The company reduced its outstanding debt by $40 million during 2022 and further prepaid $15 million in March 2023, leaving a debt balance of $35 million. SilverCrest ended 2022 with $50.8 million in cash and equivalents, amidst operating metrics exceeding previous feasibility study targets.
SilverCrest Metals Inc. reports its Q4 2022 operational results and updates on the Las Chispas Mine in Sonora, Mexico. Commercial production was declared on November 1, 2022, with 11,940 oz of gold and 1.20 million oz of silver recovered during the quarter. The powerline was completed, enhancing operational stability. While underground mining averaged 700 tpd, it fell short of the 2021 feasibility study forecast. An updated technical report is on track for Q2 2023, which will factor in inflation impacts on costs. Ending 2022, the company had $50.8 million in cash and $50 million in debt after successfully refinancing.
SilverCrest Metals Inc. (SILV) announced the completion of its 33 kilovolt electrical powerline at the Las Chispas Mine in Sonora, Mexico. This enhancement ensures reliable electricity for operations. The company also released its first Task Force for Climate Related Financial Disclosure (TCFD) report, indicating significant climate risks, particularly around water availability. A five-year water stewardship plan, with an investment of US$1.5M, aims to support local farming communities. 2023 marks the first full year of production, establishing baseline ESG performance metrics.
SilverCrest Metals Inc. has successfully refinanced its US$120 million secured project financing facility, now transitioning to a new US$120 million senior secured credit facility. The financing includes a US$50 million term facility and a US$70 million revolving facility. Following the refinance, SilverCrest will have a cash balance of approximately US$50 million and total debt of US$50 million. The revolving facility can be utilized until November 2026 for corporate purposes. This transition aims to lower the cost of capital and enhance operational flexibility as the Company enters a full production year.
SilverCrest Metals reported its unaudited financial results for Q3 2022, highlighting a successful ramp-up at the Las Chispas Mine. Key production figures include 4,121 Au oz and 373,513 Ag oz produced, totaling 731,628 AgEq oz. Revenue from first metal sales reached $2.7 million. The company also retains a strong cash position of $88.6 million. However, comprehensive loss stood at $7.3 million, despite an income of $26.1 million, primarily due to foreign exchange gains. The Las Chispas processing plant has been performing ahead of projections, with commercial production declared effective November 1, 2022.
SilverCrest Metals Inc. has announced the declaration of commercial production at its Las Chispas Mine in Sonora, Mexico, effective November 1, 2022. The declaration followed a two-month commissioning period where the processing plant operated at over 80% capacity, exceeding a recovery rate of 85% for gold and silver. The processing plant was completed on time and on budget in May 2022, processing 62,146 tonnes of ore at an average of 1,019 tonnes per day.
The company aims to ramp up production to 600-700 tonnes per day by the end of 2022, with plans to generate revenue and free cash flow in 2023.
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