Month: May 2022

“We are running a thriving business in an $1,800 per ounce gold price environment and are confident of the resiliency of our assets throughout the precious metal cycle.”

Larry Radford, President & CEO stated: “We were generally in line with our operational budget during the first quarter, which yielded over 55,000 GEOs and $25 million in cash flow. My focus since my appointment has been primarily on the Magino construction project. The mining industry is experiencing extraordinary cost pressures and Magino is no exception.”

“Torex had a solid start to 2022. Reliable production, combined with the stronger gold price and disciplined cost management, resulted in robust revenue and EBITDA generation. With 112,446 ounces of gold produced in the quarter, and quarterly production expected to be higher throughout the remainder of the year, the Company is well positioned to deliver on 2022 operational guidance.”

Luis Marchese, CEO of Sierra Metals, commented, “Following a difficult start to the year, the Company continues on its path towards operational recovery. During the first quarter, lower throughput and grades resulted in a decrease in the production of all metals along with significant increases to cash costs and all-in sustaining costs at both Yauricocha and Bolivar.”

“Our first quarter performance was strong, putting us on track to achieve our 2022 production guidance,” stated Dan Dickson, CEO of Endeavour Silver. “High-grade ore at Guanacevi was a driving force and is expected to continue throughout the balance of the year, while production at Bolanitos remains solid.”

“In the quarter, we continued to focus on our Los Ricos project as we continue to advance our second 100,000 metre drill program,” said Brad Langille, President and CEO. “Parral continues to produce for us, providing meaningful cash flow contributing to the general and administrative costs and the Los Ricos exploration budget.”

“The first quarter of 2022 demonstrated the potential of the Cosalá Operations” stated Americas Gold and Silver President & CEO Darren Blasutti. “With strong silver, zinc, and lead prices, the Company generated positive operating cash flow, significantly improved the Company’s balance sheet, and funded the Galena Complex growth capital, which will allow the Galena Complex to double silver production over the next two years.”

“As we indicated in our February 23, 2022 news release, our operations experienced high levels of workforce absenteeism in January and early February due to the Omicron variant of COVID-19. Workforce deployment is now back to more normal levels, and we are maintaining our guidance for 2022 with production weighted to the second half of the year.”