Day: January 10, 2024

Rodrigo Barbosa, Aura’s President and CEO commented, “We have made considerable progress in the fourth quarter, with production enhancements across multiple operations and achieved our highest quarterly production in 2023, reaching 69k GEO. Production at Apoena significantly improved once we reached again the Ernesto pit and pushed some of the higher grades to early 2024. At Minosa, we stabilized the mine and achieved four consecutive quarters of production improvements. At Aranzazu, we maintained a high performance level during the quarter, with stable production.”

“We finished 2023 with another strong quarter, achieving the top end of our increased annual guidance with record production of 529,300 ounces of gold. This represented a 15% increase from 2022, at lower costs, driving a record financial performance and strong free cash flow, all while continuing to invest in high-return, low-cost growth,” said John A. McCluskey, President and Chief Executive Officer.

Shawn Howarth, President and CEO, commented, “While 2023 was challenging on several fronts, Excellon remained resilient. Our transition from silver production in Mexico allows us to now focus on high quality exploration at Kilgore and Silver City. The deconsolidation of wholly owned San Pedro Resources, together with the restructuring of the Convertible Debentures, when completed, is anticipated to remove approximately $40 million in liabilities from Excellon’s balance sheet.”

“2023 was another year of significant advancements of the Los Ricos district. In less than five years, we have taken the district from having no resources to having 186 million silver equivalent ounces of measured & indicated resources and 87 million AgEq ounces of inferred resources. We also completed two preliminary economic assessments in each of Los Ricos South and Los Ricos North which showed a combined total NPV of US$871M for the district.”

Fortuna Silver Mines Inc. is pleased to report that the Company has paid down an additional $41 million of its revolving credit facility at the end of the fourth quarter of 2023, using cash on hand.