SilverCrest Metals Inc. Common Shares - SILV STOCK NEWS

SilverCrest Metals Inc. has successfully refinanced its US$120 million secured project financing facility, now transitioning to a new US$120 million senior secured credit facility. The financing includes a US$50 million term facility and a US$70 million revolving facility. Following the refinance, SilverCrest will have a cash balance of approximately US$50 million and total debt of US$50 million. The revolving facility can be utilized until November 2026 for corporate purposes. This transition aims to lower the cost of capital and enhance operational flexibility as the Company enters a full production year.

SilverCrest Metals reported its unaudited financial results for Q3 2022, highlighting a successful ramp-up at the Las Chispas Mine. Key production figures include 4,121 Au oz and 373,513 Ag oz produced, totaling 731,628 AgEq oz. Revenue from first metal sales reached $2.7 million. The company also retains a strong cash position of $88.6 million. However, comprehensive loss stood at $7.3 million, despite an income of $26.1 million, primarily due to foreign exchange gains. The Las Chispas processing plant has been performing ahead of projections, with commercial production declared effective November 1, 2022.

SilverCrest Metals Inc. has announced the declaration of commercial production at its Las Chispas Mine in Sonora, Mexico, effective November 1, 2022. The declaration followed a two-month commissioning period where the processing plant operated at over 80% capacity, exceeding a recovery rate of 85% for gold and silver. The processing plant was completed on time and on budget in May 2022, processing 62,146 tonnes of ore at an average of 1,019 tonnes per day.

The company aims to ramp up production to 600-700 tonnes per day by the end of 2022, with plans to generate revenue and free cash flow in 2023.

SilverCrest Metals announced progress at its Las Chispas Mine in Sonora, Mexico, with metallurgical recovery and throughput exceeding Feasibility Study projections. In August 2022, gold recovery averaged 96.2% and silver recovery 85.6%, with a throughput of 784 tonnes per day. The project is fully energized, and the underground mine is expected to ramp up to 600-700 tpd by the end of 2022. The first metal sale is anticipated in Q3 2022, with commercial production on schedule for Q4 2022. SilverCrest remains well-funded with $101.6 million in cash as of August 31, 2022.

SilverCrest Metals Inc. (SILV) announced its unaudited financial results for Q2 2022, highlighting a strong cash position with $118.6 million and a $30 million unused credit facility. The Las Chispas Mine in Mexico is on track for commercial production in Q4 2022 after completing construction ahead of schedule and under budget. The company reported a comprehensive loss of $6.0 million for H1 2022, significantly improved from the previous year. Key operational milestones include the first precious metal pour with approximately 9,200 ounces of silver and commissioning activities currently in progress.

SilverCrest Metals Inc. announced the appointment of Anna Ladd-Kruger to its Board of Directors, effective immediately. With over 20 years of experience in the mining industry, Ladd-Kruger has held key roles in public mining companies, including her recent position as CFO of McEwen Mining Inc. She has significant expertise in transitioning projects from exploration to production, which is seen as crucial as SilverCrest advances its Las Chispas Mine toward commercial production. Eric Fier, CEO, expressed enthusiasm about the strategic value she brings to the company's leadership.

SilverCrest Metals has announced the successful first pour of silver and gold from its Las Chispas Mine in Sonora, Mexico, completed on June 30, 2022. The initial production yielded approximately 9,200 ounces of silver and 100 ounces of gold. CEO Eric Fier highlighted this milestone as a step towards commercial production expected in Q4 2022. The plant's commissioning is progressing as planned, with an aim to achieve a capacity of 1,250 tonnes per day. Further updates on the ramp-up operations are expected in Q3 2022.

SilverCrest Metals announced the results of its Annual General Meeting (AGM) held on June 15, 2022, in Vancouver, BC. A total of 85,223,625 votes represented 58.42% of issued shares. Shareholders approved six directors with voting percentages ranging from 97.27% to 99.68%. PricewaterhouseCoopers LLP was reappointed as the auditor, and a new 'rolling 5.5%' Stock Option Plan was adopted. The company focuses on precious metal exploration and development, particularly in Mexico's Las Chispas mining district, which is key for its future production goals.

SilverCrest Metals Inc. has announced the successful construction handover of its Las Chispas processing plant by Ausenco Engineering ahead of schedule and under budget. Commissioning is underway, with expectations of achieving commercial production by Q4 2022. The project is anticipated to incur capital costs below the estimated US$137.7 million. With substantial underground development already completed, SilverCrest will gradually ramp up production starting 2025. The company is transitioning to a fully operational power grid by H2 2022, enhancing operational efficiency.