Business
Guanajuato Silver Reports Q1 2023 Financial and Operating Results
~ Q1 Production of Over 938,000 AgEq Ounces ~ VANCOUVER, BC / ACCESSWIRE / May 26, 2023 / Gu...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"Guanajuato Silver Reports Q1 2023 Financial and Operating Results~ Q1 Production of Over 938,000 AgEq Ounces ~VANCOUVER, BC / ACCESSWIRE / May 26, 2023 / Guanajuato Silver Company Ltd. (the \"Company\" or \"GSilver\") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) is pleased to announce financial and operating results for the three months ended March 31, 2023. All dollar amounts are in US dollars (US$). Production results are from the Company's wholly owned El Cubo Mines Complex (\"El Cubo\"), Valenciana Mines Complex (\"VMC\") and San Ignacio mine (\"San Ignacio\") in Guanajuato, Mexico, and Topia mine (\"Topia\") located in Durango, Mexico.James Anderson, Chairman & CEO of Guanajuato Silver, said, \"We continue investing aggressively in our assets as we build what we feel is Mexico's fastest growing silver mining company. Operating results for Q1 continue to demonstrate growth and are aligned with our expectations for this phase of the ramp-up; I commend our 100% Mexican operations team for their technical excellence as we optimize production at all four of our producing silver mines. With quarter-over-quarter increases in silver-equivalent production expected to continue, we remain on-pace to meet our stated full year production guidance of 4.6 to 4.8 million silver-equivalent (\"AgEq\") ounces in 2023. We expect to end 2023 at a production run-rate of over 5 million AgEq ounces per year.\"Q1 2023 HighlightsRecord production during the quarter of 938,047 AgEq ounces derived from 458,803 ounces of silver; 4,413 ounces of gold; 906,696 pounds of lead; and 1,153,138 pounds of zinc.Record Revenue of $17.1M, up from $15.4M in Q4 2022; revenues grew from increased production of AgEq ounces, as well as higher realized silver and gold prices during the quarter.Net Loss narrowed to $8.7M from $9.9M in Q4 2022.Reduced environmental footprint through the implementation of an underground hydraulic-fill tailings system at VMC; tailings material is now being placed underground in some of the numerous voids that have been created over VMC's 450-year mining history.All-in sustaining cost (\"AISC\") of $21.83 per AgEq ounce produced was slightly higher than $20.80 for Q4 2022; this increase was due primarily to targeted capex investments designed to accelerate the ramp-up of operations at the three Guanajuato mines; operating costs were also impact...