Business
Sierra Madre Gold and Silver Reports Strong Q1 2026 Financial Results, Record Quarterly Revenues
128,827 Silver Equivalent Ounces Sold in Q1 2026 Quarterly Net Revenues of US$10.1 Million and Adjusted EBITDA of US$2.8 Million First Phase of La Guitarra
About this update from Sierra Madre Gold & Silver Ltd.
[{"type":"text","content":" 128,827 Silver Equivalent Ounces Sold in Q1 2026 Quarterly Net Revenues of US$10.1 Million and Adjusted EBITDA of US$2.8 Million First Phase of La Guitarra Capacity Expansion on Schedule for Completion by the End of Q2 2026 Vancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) (\"Sierra Madre\" or the \"Company\") is pleased to provide financial results for the quarter ended March 31, 2026 (\"Q1 2026\"). Unless otherwise noted, all amounts are expressed in U.S. dollars. Alex Langer, Chief Executive Officer, commented, \"Our Q1 revenues of US$10.1 million are a record for the Company. With a steady production base, Sierra Madre leveraged the effects of rising commodity prices. We are on solid footing heading into the rest of 2026. Head grades are anticipated to improve as Coloso and Nazareno mines continue to ramp up. We have purchased haul trucks, scoop trams, and invested in backup generators to reduce operating costs and sustain production continuity. The Guitarra plant capacity expansion is anticipated to be completed by the end of Q2 2026 and is expected to increase throughputs by over 50% from current levels. We expect these initiatives to materially increase production while reducing unit costs.\" Mr. Langer continued, \"We are also looking forward to closing the Del Toro mine acquisition and preparing for exploration in the East District of the La Guitarra Mine Complex, with over 30,000 metres of drilling, planned to start in H2 2026.\" Highlights Revenues: Gross silver revenues for the quarter totalled $5.9 million ($85.14 per ounce) and gold revenues totalled $5.1 million ($4,906 per ounce). Silver revenues for the quarter ended March 31, 2025 (\"Q1 2025\") totalled $2.3 million ($31.13 per ounce) and gold revenues totalled $2.9 million ($2,828 per ounce). Sales: In Q1 2026, the Company sold 69,006 ounces of silver (\"Ag\") and 1,038 ounces of gold (\"Au\") or 128,827 silver equivalent (\"AgEq\") ounces, based on the ratio of silver and gold prices realized for each shipment in the quarter. This compares to 75,137 ounces of Ag and 1,022 ounces of Au or 165,093 AgEq ounces sold in Q1 2025. Cash Costs for the quarter were $42.55 per AgEq ounce produced, as compared to $33.63 per AgEq ounce produced in Q4 2025 and $22.51 in Q1 2025 due to a number of fac...