N. Eric Fier, CEO, commented, “We are pleased to deliver another quarterly record for both revenue and mine operating earnings, as well as one of our best quarters to date for both operating and free cash flow. Our results were supported by strong metal prices, impressive sales quantities and all-in sustaining costs that were well below the low end of our 2024 guidance.”
“We were pleased to see the continued rally in metal prices during the third quarter” said David Wolfin, President and CEO. “That combined with our strong production results, positions us favorably as we prepare to achieve our transformational growth objectives through advancement at La Preciosa.”
MAG Silver Corp. reported robust financial results for Q3 2024, driven by strong performance at the Juanicipio mine, where it holds a 44% stake. Net income was $22.3 million ($0.22 per share), supported by Juanicipio’s silver production of 4.9 million ounces and equivalent production of 7.1 million ounces. Additionally, MAG entered an exploration agreement with Apollo Silver for the Cinco de Mayo project.
Fresnillo plc has received notification from Industrias Peñoles, S.A.B. de C.V. that its Sabinas mine is experiencing operational difficulties impacting silver production.
“CLG’s strong third quarter 2024 production and cost performance together with higher metal prices resulted in record quarterly free cash flow at the LGJV and a record quarter-end cash balance for Gatos Silver,” said Dale Andres, CEO of Gatos Silver.
“Fortunately, during this concerning event, no personal injuries were reported and the people affected are safe. The safety and security of our employees, customers, and community members is our top priority, and we will continue to fully cooperate with the authorities as they investigate the situation,” the mining company said.
Kingsmen Resources Ltd. is pleased to report on its continuing exploration program on its 100% owned Las Coloradas project, which is in the Parral mining district of the Central Mexican Silver Belt, Chihuahua Mexico.
Apollo Silver Corp. is pleased to report that it has closed its previously announced non-brokered private placement and has issued an aggregate of 67,500,000 common shares of the Company at a price of C$0.20 per Share for aggregate gross proceeds of $13,500,000.
Heliostar CEO, Charles Funk commented, “Through the acquisition of this portfolio, Heliostar has unhedged gold production from multiple assets and strong pipeline for production growth. The combination of production, production growth, resource expansion and the removal of the US$20 million in milestone payments from Ana Paula establishes Heliostar as a dynamic growth company in 2025 and beyond.”
Based on the Company’s existing streams and royalties and the year-to-date outperformance of gold prices relative to other commodities, attributable gold equivalent ounces for 2024 are forecasted to be between 70,000 and 75,000 ounces.
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