Golden Minerals Reports Third Quarter 2022 Results
November 10, 2022
Golden Minerals Company today provided financial results and a business summary for the quarter ending September 30, 2022.
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Golden Minerals Company today provided financial results and a business summary for the quarter ending September 30, 2022.
“We delivered our strongest quarterly production in recent history and increased our mill throughput by 37% from the previous quarter to over 160,000 tonnes. This reflects our steady ramp up at the Avino mine,” said David Wolfin, President and CEO.
Jorge A. Ganoza, President and CEO, commented, “Our four mines had steady production of gold and silver in the quarter, which places us in a comfortable position at the end of the nine months of the year to meet our annual guidance estimates. Price inflation on key consumable products has driven cost at our operations to the upper range of annual cost guidance, but at this stage in the year we anticipate that the risk for significant cost deviations beyond guidance has diminished.”
Osisko Development Corp. is pleased to report its financial and operating results for the three months ended September 30, 2022.
“Our Q3 results reflect the industry-wide challenge of softening precious metal prices combined with inflationary cost pressures,” said Michael Steinmann, President and Chief Executive Officer.
Gatos Silver, Inc. today reported unaudited operating and financial results for the three months and nine months ending September 30, 2022.
“Our well-established track record of delivering safe and reliable production at El Limón Guajes continues, with 122,208 ounces produced this quarter.”
“In the third quarter, we saw strong production and cash flows from our Mexican operations as San Dimas and Santa Elena saw significant head grade improvements,” stated President and CEO, Keith Neumeyer. “The consolidated Mexican operations, which accounted for approximately 83% of our total production, generated healthy margins at a low AISC of $12.29 per AgEq ounce, or a 20% decrease from the prior quarter.”
“Hecla reported another quarter of solid operational performance as Greens Creek achieved its best ever throughput and Lucky Friday’s production exceeded 1 million ounces for the second consecutive quarter,” said Phillips S. Baker Jr., President & CEO.
Rodrigo Barbosa, the Company’s President and CEO, noted, “Despite the weather, lower copper prices and lower productivity in Honduras, this quarter we increased our production by 5% compared to Q2 2022. We look forward to strengthening our output across all three operations as we move into the fourth quarter, particularly at EPP with higher grades and San Andres where operational efficiencies are expected to take effect.”
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