SILV News & Events

SilverCrest Metals announced that independent proxy advisory firm Institutional Shareholder Services, or ISS, and other similar advisory firms, have each recommended that SilverCrest shareholders vote for the plan of arrangement with Coeur Mining to be approved at the upcoming Special Meeting of Securityholders on Thursday, February 6. ISS commented "The strategic rationale for the deal makes sense as shareholders are receiving a premium valuation, the transaction is anticipated to be accretive, and shareholders retain the ability to participate in the upside represented by a more scaled, diversified combined company. Shareholders should also benefit from the fact that two members of SILV's board will bring their institutional knowledge to the combined company board." The Board of Directors of SilverCrest unanimously recommends that SilverCrest shareholders and optionholders vote for the Arrangement.

SilverCrest Metals provide interim operational results for the Q4 and FY24 from the Company's Las Chispas Operation located in Sonora, Mexico. In Q4 the company recovered 13,993 ounces, or oz, gold and 1.38M ounces silver, or 2.50M silver equivalent, or AgEq, ounces; sold 15,100 ounces gold and 1.45M ounces silver, or 2.65M AgEq ounces; average realized prices of $2,647/oz gold and $31.26/oz silver, generating revenue of $85.2M, a 6% increase from Q3; treasury assets increased by $35.2M from Q3 to end the quarter at $193.4M including $153.4M in cash and $40.0M in bullion. In FY24 the company recovered 58,943 ounces of gold and 5.66M ounces of silver, or 10.35M AgEq ounces; sold 59,804 ounces of gold and 5.75M ounces of silver, or 10.50M AgEq ounces, exceeding 2024 sales guidance of 10.0M-10.3M AgEq ounces; average realized price of $2,356/oz gold and $28.03/oz silver generating $301.9M of revenue, a $56.8M, or 23%, increase from 2023; treasury assets increased by $88.3M during 2024 to end the year at $193.4M. N. Eric Fier, CEO commented, "For a second consecutive year since declaring commercial production, the Las Chispas operation has exceeded expectations on numerous operational metrics and done so in a safe manner, with no lost time injuries recorded. These outstanding achievements are a direct result of the exceptional efforts by our employees in Mexico and Canada and I would like to thank them all for their contributions in 2024." The Company is continuing to advance its announced transaction with Coeur Mining, which remains on track to close in Q1.

SilverCrest Metals provided interim operational results for the third quarter of 2024 from the Company's Las Chispas Operation located in Sonora, Mexico. In Q3, the company recovered 14,928 ounces gold and 1.41M ounces silver, or 2.60Msilver equivalent ounces; Sold 15,204 ounces gold and 1.45 million ounces silver, or 2.66 million AgEq ounces; Generated record revenue of $80.4 million, a 10% increase from Q2 2024; Average realized prices of $2,472/oz gold and $29.48/oz silver, increases of 11% and 6% respectively from Q2 2024; Treasury assets increased 29% from Q2 2024 to $158.2 million, including $120.9 million cash and $37.4 million bullion. N. Eric Fier, CEO commented, "We are pleased to announce another quarter of record revenues, a testament to consistent performance from the Las Chispas Operation, coupled with strong metal prices. With silver equivalent sales of 7.9 million ounces in the first three quarters of the year, we are well positioned to deliver at or above the top end of our 2024 annual sales guidance of 10 to 10.3 million ounces AgEq. Our treasury assets continued to grow with increases to both our cash (up 23%) and bullion holdings (up 56%) leading to an ending position of $158.2 million.