SilverCrest Metals Inc. Common Shares - SILV STOCK NEWS

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.

SilverCrest Metals announced its audited financial results for the year ending December 31, 2020. The company reported cash equivalents of $135.1 million, up from $85.0 million in 2019. A comprehensive loss of $59.9 million was recorded, higher than the previous year's $44.7 million. Significant activities included drilling of 173,000 metres at the Las Chispas Project and construction contracts valued at $76.5 million. The company is optimistic about production startup in mid-2022, with an estimated initial capital requirement of $137.7 million.

SilverCrest Metals announced the start of drilling at its El Picacho Property near Las Chispas, Mexico. Initial results showed promising intercepts, with Hole PI-20-006 recording 7.25 metres at 40.49 gpt gold and 260.4 gpt silver, equating to 3,297 gpt silver equivalent. Of the 42 drill holes, 21 intercepted an average of 4.1 metres grading 8.14 gpt gold and 49.7 gpt silver. The company is conducting a US$42 million exploration program in 2021, mostly focused on Las Chispas, while continuing at El Picacho. Significant discoveries have been made within a 500-metre radius.

SilverCrest Metals Inc. (TSX: SIL | NYSE American: SILV) announced the successful completion of its prospectus offering on February 22, 2021, raising US$138,069,000 from the issuance of 15,007,500 common shares at US$9.20 per share. The offering was co-led by Scotiabank, Raymond James Ltd., and RBC Capital Markets. Proceeds will be utilized for expanding the Las Chispas project, enhancing mine design, exploring regional targets, and general working capital. Forward-looking statements regarding the use of proceeds are included, emphasizing market and regulatory risks.

SilverCrest Metals has announced a bought-deal offering of 13,050,000 common shares at US$9.20 each, raising approximately US$120 million. Co-led by Scotiabank, Raymond James Ltd., and RBC Capital Markets, this offering is aimed at expanding resources at the Las Chispas project and optimizing its mine and processing designs. The offering is set to close on or about February 22, 2021, pending regulatory approvals. An over-allotment option allows underwriters to purchase an additional 15% of the shares.

SilverCrest Metals announced positive results from the Feasibility Study for the Las Chispas Project in Sonora, Mexico. The study outlines a robust economic profile with an after-tax NPV(5%) of $486.3M, an IRR of 52%, and a payback period of one year, assuming base case metal prices of $1,500/oz gold and $19.00/oz silver. Proven and probable reserves are estimated at 3.35M tonnes, yielding 94.7Moz AgEq, placing it among the highest-grade primary silver projects globally. Construction has commenced, with a targeted processing plant capacity of 1,250 tpd and significant near-term production expected to begin in 2023.