Business
Guanajuato Silver Reports Q4 and Year End 2021 Financial Results
VANCOUVER, BC / ACCESSWIRE / April 26, 2022 / Guanajuato Silver Company Ltd. (the "Company"...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"Guanajuato Silver Reports Q4 and Year End 2021 Financial ResultsVANCOUVER, BC / ACCESSWIRE / April 26, 2022 / Guanajuato Silver Company Ltd. (the \"Company\" or \"GSilver\") (TSXV:GSVR)(OTCQX:GSVRF) announces selected financial information and production results for the Company's fourth quarter, and year ended December 31, 2021. The Company's consolidated financial statements for the year ended December 31, 2021 and Management's Discussion and Analysis (\"MD&A\") thereon can be viewed at www.sedar.com. Production results are from the Company's wholly owned El Cubo Mine Complex and El Pinguico project in Guanajuato, Mexico.Selected 2021 Q4 Highlights:(All figures in US Dollars)All production results continue to be in-line with modelled ramp-up expectations.Revenue from mining operations at El Cubo generated $4.1 million in Q4.105,203 ounces of silver and 1,179 ounces of gold were sold in Q4, totalling 199,526(1) silver-equivalent ounces (AgEq) sold at a realized silver price of $23.35(5) per ounce.Q4 Cash Costs of $20.36(2) and AISC of $33.31(3) (Reflective of Company's ongoing ramp-up).December 31, 2021 cash balance of $8.23 million plus $1.6 million held as silver and gold bullion.\"2021 saw Guanajuato Silver successfully complete the transition from explorer to producer status\", said GSilver Chairman and CEO James Anderson. \"Our revitalization of the El Cubo Mine represents an extremely efficient restart within our industry, as the Company continues to adhere to its ‘On Track, On Time, On Budget' mantra. After purchasing the El Cubo mining complex in April 2021, we were mining and stockpiling mineralized material by August, processing that material in September, and had completed our first sale of precious metals concentrate before the end of October. Driven by ongoing sales of silver and gold and a ramp-up process that continues to unfold on plan, GSilver ended 2021 with a strong balance sheet and renewed confidence that we are moving towards becoming a significant Mexican mid-tier producer.\"Table of Selected 2021 Q4 and Year End Data:(All figures in US Dollars) Three Months Ended Year Ended Dec 312021 Dec 312020 Dec 312021 Dec 312020 Revenue 4,116,811 nil 4,116,811 nil Net loss (4,746,245) (913,110) (11,849,800) (1,721,817) Cost per tonne(4)(6) 63.35 - 79.10 - Cash cost per AgEq ounce(1)(2)(6) 20.36 - 25.45 - A...