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SilverCrest Metals (SIL) investor relations material
SilverCrest Metals Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record Q3 2024 revenue of $80.4 million and mine operating earnings of $47 million, driven by strong operational performance and favorable metal prices.
Free cash flow rose 49% to $36.2 million ($0.24/share), with treasury assets up 29% to $158.2 million.
Mining rates increased to 1,350 tpd, above plan, aided by two underground contractors.
Remain on track to meet or exceed 2024 sales, cash cost, and AISC guidance.
Announced acquisition by Coeur Mining at an 18% premium, expected to close in late Q1 2025.
Financial highlights
Q3 2024 revenue reached $80.4 million, up from $63.8 million in Q3 2023 and $72.7 million in Q2 2024.
Mine operating earnings were $47 million, a 25% increase year-over-year.
Adjusted net earnings were $26.3 million ($0.18/share), with net earnings of $9.5 million ($0.06/share).
Operating cash flow was $44.2 million ($0.30/share), and free cash flow was $36.2 million ($0.24/share), up 49% from Q2.
Treasury assets at quarter-end totaled $158.2 million, including $120.9 million in cash and $37.4 million in bullion.
Outlook and guidance
Confident in meeting or exceeding 2024 sales, cash cost, and AISC guidance, with YTD sales of 7.9 million oz AgEq and costs below guidance.
Plant throughput planned at 1,200 tpd for the rest of 2024.
Sustaining capital expenditures and exploration spend expected at the top end of $40–44 million and $12–14 million guidance, respectively.
Targeting inferred resource growth and advancing regional exploration.
Solar power integration and Coeur Mining transaction expected in Q1 2025.
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