Guanajuato Silver Company Ltd announce financial and operating results for the three month and six month periods ending June 30, 2024.
The selected Q2 2024 (Three Month Period) Highlights are, Record revenue for the quarter of $20.5M representing a 16% increase over the previous quarter, and a 22% increase over Q2 2023. Consolidated revenue for the quarter was generated by a realized average price of $28.78 per silver ounce, $2,334 per gold ounce, $0.98 per pound of lead, and $1.29 per pound of zinc.
Positive mine operating income of $947,433. During the quarter, the Company posted its first ever positive income from mining operations. Positive EBITDA of $2,007,907 represents the first positive EBITDA reported by the Company and demonstrates improving cash flow from mining operations.
EBITDA showed a notable $6.5M improvement from the previous quarter. Adjusted EBITDA was also positive at $1,916,933 for the quarter.
During the quarter, the Company attained the production for the quarter of 823,679 silver-equivalent ounces (AgEq) derived from 398,685 ounces of silver, 4,255 ounces of gold.
Guanajuato Silver remains a primary silver and gold producer with over 90% of revenues being derived from the sale of precious metals. All lead and zinc production comes exclusively from the Company’s Topia mine located in northwest Durango.
Total tonnes milled at the Company’s three production facilities was 161,457, which was a decrease of 2% from the previous quarter. All of Guanajuato Silver’s mining operations continue to be in the process of ramping up to full production.
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