Guanajuato Silver Reports Q1 2024 Financial and Operating Results

Guanajuato Silver Company Ltd. (GSilver) has announced its financial and operating results for Q1 2024. Record production and reduced costs marked the quarter, benefiting from previous year's investments.

GSilver reported a record production of 987,312 AgEq ounces, a 16% increase from the previous quarter. Total tonnes milled rose by 20%, processing 165,079 tonnes across its three facilities. The all-in sustaining cost (AISC) decreased by 6% to $20.19 per AgEq ounce, while cash costs dropped to $16.55 per AgEq ounce. Revenue reached $17.8 million, an increase of 7%, and the net loss slightly reduced to $7.3 million from $7.6 million in Q4 2023.

James Anderson, Chairman and CEO, highlighted that investments made in 2023 improved production while lowering costs. Average metal prices were $23.37 per silver ounce and $2,068 per gold ounce.

The company operates multiple mines in Mexico, including El Cubo, Valenciana Mines Complex, San Ignacio, and Topia, with significant contributions to the recent growth metrics.