Guanajuato Silver Announces Q1 2022 Financial and Operating Results

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Overig advies 27/05/2022 14:14
Q1 Production of 275,823 Silver Equivalent Ounces

VANCOUVER, BC / ACCESSWIRE / May 27, 2022 / Vancouver, British Columbia - Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce its financial and operating results for the three months ended March 31, 2022. All dollar amounts are in US dollars (US$). Production results are from the Company's wholly owned El Cubo Mine Complex ("El Cubo") and El Pinguico ("El Pinguico") project in Guanajuato, Mexico.

"We remain on track to achieve all of our 2022 production objectives," stated James Anderson, CEO of GSilver. "Higher tonnage through-put of roughly 86,000 tonnes at our processing plant in the first quarter marks a significant ‘ramp-up' milestone for the Company. Meanwhile, in the current quarter (Q2, 2022) silver and gold grades continue to improve and should have a material effect on our results going forward."

Q1 2022 Selected Highlights

Strong Production: 125,423 ounces (oz) of silver and 1,880 oz of gold for 275,823 oz silver equivalent (Ag/Eq) (1).
All-in Sustaining Cost ("AISC") per AgEq ounce produced continues to improve:(2) In the quarter ended March 31, 2022 AISC was $25.67 compared to $33.31 from Q4 2021; this represents a 23% improvement and is in-line with Company projections and expectations at this stage of the ramp-up.
Cash cost per AgEq ounce produced: (2) For Q1 2022, cash costs were lower at $20.12 compared to $20.36 for Q4 2021, in line with expectations, and primarily due to continued acceleration of operations at the Villalpando and Santa Cecilia mine areas of El Cubo. Cash costs were, however, negatively impacted in the quarter by additional costs related to continued stope preparation during the ramp-up phase. The Company will continue to implement several optimization projects over the next 6 months which are anticipated to improve production and reduce costs within both the mines and processing plant.
Significant Growth in Net Revenue: Net revenue of $6.3 million (Q4, 2021 $4.1m) from the sale of 134,281 oz of silver and 2,007 oz of gold at average realized prices of $23.97 per oz silver and $1,864.26 per oz gold.
Balance Sheet: Cash position of $6.8 million and working capital(2) of -$1.2 million as of March 31, 2022.
Mine operating loss of $1.7 million, 22% less than the Q4, 2021 mine operating loss of $2.2 million.

see & read more on
https://www.gsilver.com/news/2022c/786-uanajuatoilvernnounces12022inancialandperating20220527



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