SilverCrest Metals Inc. Common Shares - SILV STOCK NEWS

SilverCrest Metals announced the nearing completion of its 2021 infill drilling program at the Las Chispas Project in Sonora, Mexico, aimed at increasing resource confidence. Approximately 80,632 metres have been drilled, confirming high-grade inferred resources, including a notable discovery in the ‘Shoot 201’ zone with an average grade of 5,040 gpt AgEq over 1.4 metres. The results support potential upgrades to mineral reserves and the Life of Mine Plan in 2022. The company plans to transition focus towards expansion drilling in Q4 2021.

SilverCrest Metals Inc. (SILV) announced that its Canadian subsidiary has completed the second drawdown of US$30 million from a US$120 million Credit Facility with RK Mine Finance. The funds will support construction of the Las Chispas Project in Sonora, Mexico. As of August 31, 2021, construction progress reached 33%, ahead of the scheduled 28%, with a target of 80% completion by year-end. The company holds approximately US$207 million in cash and has US$60 million left under the Credit Facility.

SilverCrest Metals announced its unaudited financial results for Q2 2021, reporting strong progress at the Las Chispas Project in Sonora, Mexico. As of June 30, 2021, the company holds $200.4 million in cash, supported by a $138.1 million equity offering completed in February. Construction of Las Chispas is on track, with 33% completion against a target of 28%. A total of 71,556 metres of drilling was completed in H1 2021, focusing on resource conversion. The comprehensive loss for H1 2021 was $21.7 million, improved from $24.7 million in H1 2020.

SilverCrest Metals provided an update on the Las Chispas Project in Sonora, Mexico, reporting 33% construction completion by mid-2021, ahead of the scheduled 28%. Capital spending is on track, with 60% of the $137.7 million budget committed. Underground development has reached 13.1 km, exceeding expectations, and optimization efforts are ongoing. The company maintains a strong cash position of $188 million as of July 31, 2021, with projected after-tax cash flow of $160 million in 2023. The project is on schedule for plant commissioning in late Q2 2022.

SilverCrest Metals has appointed Clifford Lafleur as the new Vice President of Technical Services, enhancing its technical team in preparation for the next phase of operations. Lafleur brings over 20 years of experience in mining, including significant leadership roles at Torex Gold Resources in Mexico. His expertise lies in mine planning, resource management, and underground operations. SilverCrest focuses on the Las Chispas mining district in Sonora, Mexico, targeting production startup in mid-2022, following a successful feasibility study.

SilverCrest Metals Inc. announced outcomes from its Annual General Meeting held on June 15, 2021, where 54.66% of shares were represented. Shareholders approved seven directors, with votes in favor ranging from 86.74% to 99.87%. PricewaterhouseCoopers LLP was reappointed as the company’s auditor. Additionally, a new 1.5% Equity Share Unit Plan was approved. Focused on the Las Chispas mining district in Mexico, SilverCrest is targeting production startup by mid-2022.

SilverCrest Metals Inc. announced amendments to its Equity Share Unit Plan and Stock Option Plan to align with governance practices. The revised plans, subject to shareholder approval at the annual meeting on June 15, 2021, now allocate a combined 7% of outstanding common shares, with the SU Plan reduced to 1.5% from 4%, and the Option Plan to 5.5% from 10%. These changes aim to minimize shareholder dilution while allowing for performance-based incentives aligned with governance standards as the company transitions toward production in Mexico.

SilverCrest Metals (SILV) reported its unaudited financial results for Q1 2021, highlighting a cash position of $226 million and a comprehensive loss of $12.7 million. The Las Chispas Project is progressing on schedule, with construction at 14.3% completion and cumulative expenditures totaling $50 million. A bought deal prospectus offering raised $138.1 million in February 2021, contributing to a strong cash position. The company successfully completed 33,382 meters of drilling during the quarter, furthering its exploration efforts.

SilverCrest Metals announced significant in-fill and expansion drilling results from its Las Chispas Project in Sonora, Mexico. The recent 78 holes, totaling 29,308 meters, confirmed vein continuity and enhanced understanding of mineral resources. Notable findings include high-grade intercepts in the Babi Vista Vein Splay, with an average grade of 16.12 gpt Au and 1,351.5 gpt Ag or 2,752 gpt AgEq. The company aims to optimize resource conversion to reserves, emphasizing the potential for enhanced mine economics and expanded production throughput.