Guanajuato Silver Reports Record Revenue and Positive Mine Operating Income in Q2

Guanajuato Silver Company Ltd. announced its financial and operating results for Q2 2024, revealing a record revenue of $20.5 million. This represents a 16% increase over the previous quarter and a 22% rise compared to Q2 2023. Additionally, the company posted its first-ever positive mine operating income of $947,433 and a positive EBITDA of $2,007,907.

The company produced 823,679 silver-equivalent ounces, including 398,685 ounces of silver and 4,255 ounces of gold. Despite a 2% decrease in total tonnes milled, cash costs per ounce of silver-equivalent stood at $19.93, with All-In Sustaining Costs (AISC) at $25.55, partly due to increased sustaining capital expenditure of $1.97 million.

Guanajuato Silver improved its working capital position by 21% over the previous quarter, reducing its net loss to $2.7 million. As of June 30, 2024, the company held $2.2 million in cash and cash equivalents.

The results indicate a positive trend toward cash-flow profitability as the company continues to ramp up production at its mining complexes in Mexico.