SilverCrest Reports Third Quarter 2024 Financial Results
SilverCrest Metals reported strong Q3 2024 financial results with record quarterly revenue of $80.4 million and mine operating earnings of $47.0 million. The company achieved net earnings of $9.5 million ($0.06 per share) and free cash flow of $36.2 million ($0.24 per share). Production reached 2.6 million oz silver equivalent with cash costs of $8.85/oz AgEq and AISC of $13.72/oz AgEq. Treasury assets grew 29% to $158.2 million. Mining rates increased 23% to 1,350 tonnes per day, while mill throughput averaged 1,324 tpd. The company remains on track to meet or exceed its 2024 guidance for sales, cash costs, and AISC.
SilverCrest Metals ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con un fatturato trimestrale record di 80,4 milioni di dollari e guadagni operativi minerari di 47,0 milioni di dollari. L'azienda ha registrato utile netto di 9,5 milioni di dollari (0,06 dollari per azione) e flusso di cassa libero di 36,2 milioni di dollari (0,24 dollari per azione). La produzione ha raggiunto 2,6 milioni di once equivalenti d'argento con costi di cassa di 8,85 dollari/oncia AgEq e costi totali sostenuti di 13,72 dollari/oncia AgEq. Le attività di tesoreria sono aumentate del 29% a 158,2 milioni di dollari. I tassi di estrazione sono aumentati del 23% a 1.350 tonnellate al giorno, mentre la lavorazione media in fabbrica è stata di 1.324 tpd. L'azienda è ancora in linea per soddisfare o superare le previsioni di vendita, costi di cassa e AISC per il 2024.
SilverCrest Metals reportó resultados financieros sólidos para el tercer trimestre de 2024, con ingresos trimestrales récord de 80,4 millones de dólares y ganancias operativas mineras de 47,0 millones de dólares. La compañía logró ganancias netas de 9,5 millones de dólares (0,06 dólares por acción) y un flujo de efectivo libre de 36,2 millones de dólares (0,24 dólares por acción). La producción alcanzó 2,6 millones de onzas equivalentes de plata con costos de efectivo de 8,85 dólares/onza AgEq y costos totales sostenidos de 13,72 dólares/onza AgEq. Los activos de tesorería crecieron un 29% hasta 158,2 millones de dólares. Las tasas de extracción aumentaron un 23% a 1.350 toneladas por día, mientras que el procesamiento promedio en molino fue de 1.324 tpd. La compañía sigue en camino de cumplir o superar sus pronósticos de 2024 para ventas, costos de efectivo y AISC.
SilverCrest Metals는 2024년 3분기에 강력한 재무 결과를 보고했으며, 분기 매출이 8,040만 달러로 기록을 세웠고, 광산 운영 이익은 4,700만 달러에 달했습니다. 회사는 순이익 950만 달러 (주당 0.06달러) 및 자유 현금 흐름 3,620만 달러 (주당 0.24달러)를 달성했습니다. 생산량은 260만 온스의 은 등가물에 도달했으며, 현금 비용은 1온스 당 8.85달러 AgEq, 총 지속 비용(AISC)은 1온스 당 13.72달러 AgEq로 나타났습니다. 재무 자산은 29% 증가하여 1억 5,820만 달러에 달했습니다. 채굴 속도는 23% 증가하여 하루 1,350톤에 도달했으며, 밀 평균 처리량은 1,324 tpd였습니다. 회사는 2024년 판매, 현금 비용 및 AISC에 대한 가이드라인을 충족하거나 초과할 수 있을 것으로 보입니다.
SilverCrest Metals a annoncé des résultats financiers solides pour le troisième trimestre 2024, avec un chiffre d'affaires trimestriel record de 80,4 millions de dollars et des bénéfices d'exploitation minière de 47,0 millions de dollars. L'entreprise a réalisé un bénéfice net de 9,5 millions de dollars (0,06 dollar par action) et un flux de trésorerie libre de 36,2 millions de dollars (0,24 dollar par action). La production a atteint 2,6 millions d'onces d'argent équivalent avec des coûts de production de 8,85 dollars/onze AgEq et des coûts totaux soutenus (AISC) de 13,72 dollars/onze AgEq. Les actifs de trésorerie ont augmenté de 29% pour atteindre 158,2 millions de dollars. Les taux d'extraction ont augmenté de 23% pour atteindre 1 350 tonnes par jour, tandis que le débit moyen des usines était de 1 324 tpd. L'entreprise est sur la bonne voie pour atteindre ou dépasser ses prévisions 2024 en matière de ventes, de coûts de production et d'AISC.
SilverCrest Metals hat solide Finanzkennzahlen für das dritte Quartal 2024 berichtet, mit einem Rekordumsatz von 80,4 Millionen Dollar und Betriebsergebnissen von 47,0 Millionen Dollar aus dem Bergbau. Das Unternehmen erzielte netto Einkommen von 9,5 Millionen Dollar (0,06 Dollar pro Aktie) und einen freien Cashflow von 36,2 Millionen Dollar (0,24 Dollar pro Aktie). Die Produktion erreichte 2,6 Millionen Unzen Silberäquivalent mit Barkosten von 8,85 Dollar/Unze AgEq und All-In-Sustaining-Kosten (AISC) von 13,72 Dollar/Unze AgEq. Die Treasury-Assets stiegen um 29% auf 158,2 Millionen Dollar. Die Abbaugeschwindigkeiten erhöhten sich um 23% auf 1.350 Tonnen pro Tag, während die durchschnittliche Mühlenleistung 1.324 tpd betrug. Das Unternehmen ist auf Kurs, um seine Umsatz-, Cashflow- und AISC-Prognosen für 2024 zu erreichen oder zu übertreffen.
- Record quarterly revenue of $80.4 million, up from $72.7 million in Q2 2024
- Record mine operating earnings of $47.0 million with 59% operating margin
- Free cash flow increased 49% to $36.2 million ($0.24 per share)
- Treasury assets grew 29% to $158.2 million
- Mining rates increased 23% to 1,350 tpd
- AISC of $13.72/oz AgEq, below guidance range of $14.90-15.75
- Net earnings decreased to $9.5 million from $29.9 million in Q3 2023
- Lower processed grades (674 gpt AgEq vs 765 gpt AgEq in Q2 2024)
- Higher cash costs of $8.85/oz AgEq compared to $7.47/oz AgEq in Q3 2023
Insights
Q3 2024 results showcase exceptional financial performance with several key achievements. Revenue hit a record $80.4 million, driven by strong metal prices (
The company's cost management remains stellar with AISC of
The pending acquisition by Coeur Mining at 1.6022 shares per SILV share provides shareholders with a clear exit opportunity, though timing of option exercises may be impacted by transaction-related blackouts.
Strong Free Cash Flow Continues, Supporting
TSX: SIL | NYSE American: SILV
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. Mining rates continued to benefit from having two underground contractors, a dynamic we plan to maintain into Q1 2025 as part of our strategy to manage single asset risk and create additional operational flexibility. These results once again showcase the quality and consistency of our asset and operating team.
Free cash flow per share remains a strong testament of our performance, increasing
Q3 2024 Highlights
- Recovered 14,928 ounces ("oz") gold ("Au") and 1.4 million oz silver ("Ag"), or 2.6 million oz silver equivalent ("AgEq")(2).
- Sold 15,204 oz Au and 1.5 million oz Ag (2.7 million oz AgEq) at average realized prices of
$2,472 $29.48 - Record quarterly revenue of
$80.4 million $72.7 million - Record mine operating earnings of
$47.0 million 59% operating margin(1), exceeded the$41.5 million 57% operating margin achieved in Q2 2024. - Adjusted earnings(1) of
$26.3 million $0.18 $24.9 million $0.17 - Net earnings were
$9.5 million $0.06 $6.5 million $0.04 - Cash costs of
$8.85 $8.87 $8.28 $9.25 $9.75 - All-in sustaining costs ("AISC") of
$13.72 $14.50 $14.90 $15.75 - Mining rates increased to 1,350 tonnes per day ("tpd"), a
23% increase from Q2 2024, benefiting from the ongoing engagement of two mining contractors at site throughout the quarter. - Average daily mill throughput increased to 1,324 tpd due to capacity testing performed in the quarter. With testing complete in August, throughput has returned to the range of 1,200 tonnes per day for the remainder of the year.
- Operating cash flow of
$44.2 million $0.30 $39.6 million $0.27 $37.8 million $0.25 $12.1 million - Free cash flow generation of
$36.2 million $0.24 $11.9 million $24.3 million $0.16 - Ended the quarter with total treasury assets of
$158.2 million $120.9 million $37.4 million 29% from$122.3 million $3.0 million
(1) | Refer to the "Non-GAAP Financial Measures" disclosure at the end of this press release and associated MD&A for a description and calculation of these measures. |
(2) | Silver equivalent ("AgEq") ratio used in this news release of 79.51:1 based on the Las Chispas Operation Technical Report dated September 5, 2023, with an effective date of July 19, 2023 (the "2023 Technical Report"). |
Third Quarter Operating Performance
The following operating performance refers to adjusted earnings, operating cash flow per share (basic), free cash flow, free cash flow per share (basic), cash costs, AISC, and treasury assets which are described in more detail in the "Non-GAAP Financial Measures" section of this news release.
Three months ended September 30, | Nine months ended September 30, | ||||
OPERATIONAL | Unit | 2024 | 2023 | 2024 | 2023 |
Ore mined | tonnes | 124,229 | 83,800 | 309,985 | 222,300 |
Underground development | kilometres ("km") | 4.4 | 3.3 | 13.3 | 9.6 |
Ore milled(1) | tonnes | 121,775 | 114,500 | 325,793 | 326,900 |
Average daily mill throughput | tpd | 1,324 | 1,245 | 1,193 | 1,197 |
Gold | |||||
Average grade | grams per tonne ("gpt") | 3.87 | 4.35 | 4.35 | 4.42 |
Recovery | % | 98.5 % | 98.3 % | 98.5 % | 98.1 % |
Recovered | oz | 14,928 | 15,700 | 44,950 | 45,600 |
Sold | oz | 15,204 | 14,500 | 44,704 | 42,100 |
Silver | |||||
Average grade | gpt | 366 | 413 | 416 | 427 |
Recovery | % | 98.3 % | 98.1 % | 98.2 % | 96.1 % |
Recovered | million oz | 1.41 | 1.49 | 4.28 | 4.31 |
Sold | million oz | 1.45 | 1.53 | 4.30 | 4.34 |
Silver equivalent | |||||
Average grade | gpt | 674 | 759 | 762 | 778 |
Recovery | % | 98.4 % | 98.2 % | 98.4 % | 97.0 % |
Recovered | million oz | 2.60 | 2.74 | 7.85 | 7.93 |
Sold | million oz | 2.66 | 2.68 | 7.85 | 7.69 |
Three months ended September 30, | Nine months ended September 30, | ||||
FINANCIAL | Unit | 2024 | 2023 | 2024 | 2023 |
Revenue | $ millions | $ 80.4 | $ 63.8 | $ 216.8 | $ 183.8 |
Cost of sales | $ millions | $ (33.3) | $ (26.4) | $ (90.8) | $ (72.5) |
Mine operating earnings | $ millions | $ 47.0 | $ 37.5 | $ 126.0 | $ 111.4 |
Earnings for the period | $ millions | $ 9.5 | $ 29.9 | $ 49.9 | $ 80.8 |
Earnings per share (basic) | $/share | $ 0.06 | $ 0.20 | $ 0.34 | $ 0.55 |
Adjusted earnings for the period | $ millions | $ 26.3 | $ 28.5 | $ 88.9 | $ 82.8 |
Adjusted earnings per share (basic) | $ millions | $ 0.18 | $ 0.19 | $ 0.60 | $ 0.56 |
Operating cash flow | $ millions | $ 44.2 | $ 43.8 | $ 82.6 | $ 122.2 |
Operating cash flow per share (basic) | $/share | $ 0.30 | $ 0.30 | $ 0.56 | $ 0.83 |
Free cash flow | $ millions | $ 36.2 | $ 34.0 | $ 49.2 | $ 97.0 |
Free cash flow per share (basic) | $/share | $ 0.24 | $ 0.23 | $ 0.33 | $ 0.66 |
Cash costs(2) | $/oz AgEq | $ 8.85 | $ 7.47 | $ 8.28 | $ 7.43 |
AISC(2) | $/oz AgEq | $ 13.72 | $ 12.23 | $ 14.50 | $ 11.94 |
September | December | ||||
Cash and cash equivalents | $ millions | $ 120.9 | $ 86.0 | ||
Bullion | $ millions | $ 37.4 | $ 19.2 | ||
Treasury assets | $ millions | $ 158.2 | $ 105.2 | ||
(1) | Ore milled includes material from stockpiles and ore mined. |
(2) | Q3 2023 figures have been recast to align with the presentation of the current period. For the three and nine months ended September 30, 2024, cash costs increased by |
Mine
In the quarter, a total of 124,229 tonnes were mined from the underground. Mining rates in Q3 2024 averaged 1,350 tpd, a
Plant
Process plant throughput averaged 1,324 tpd in Q3 2024, benefiting from successful capacity testing of the plant in its current configuration at 1,500 tpd for 20 days.
Mill throughput returned to planned rates of 1,200 tpd by the end of the quarter and is expected to continue to run at this level for the remainder of the year. Process plant availability was
Average processed grades of 3.87 gpt Au and 366 gpt Ag, or 674 gpt AgEq compared to Q2 2024 grades of 4.36 gpt Au and 418 gpt Ag, or 765 gpt AgEq. As planned, grades in the quarter were lower than in Q2 2024 to balance increased throughput while maintaining consistent recovered ounces.
Average process recoveries in Q3 2024 were
Production
The Company produced 2.6 million oz AgEq in Q3 2024, largely in line with the 2.7 million oz AgEq in Q2 2024.
Sustaining Capital
Sustaining capital expenditures totaled
Cash Costs and AISC
During the quarter, cash costs averaged
Cash costs YTD 2024 averaged
AISC averaged
Exploration
During Q3 2024, the Company continued drilling activities at Las Chispas to support mineral resource growth with approximately 12,500 metres completed between conversion drilling (
Program expenditures of
Selected Q3 2024 Financial Results
Revenue
During Q3 2024, the Company sold a total of 15,204 oz Au and 1.5 million oz Ag at average realized prices of
Net Earnings
Q3 2024 net earnings of
Q3 2024 adjusted earnings of
Cash Flow
In Q3 2024, cash flow generated by operating activities was
During the quarter, the Company remitted
During the quarter, the Company made payments of
Q3 2024 free cash flow of
Financial Position
As at September 30, 2024, the Company had treasury assets of
Bullion assets increased by
The Company's working capital was
Environmental, Social and Governance ("ESG")
In Q3 2024, SilverCrest completed the latest phase of the reconstruction of the local sewage system in
During the quarter, the Company released its second annual ESG Report. The 2023 ESG Report offered further insight into SilverCrest's continued commitment to working with stakeholders to identify areas where contribution and Company lead initiatives can make the most meaningful impact.
Efforts to integrate renewable solar power at Las Chispas are progressing. With the permitting process underway SilverCrest expects to transition to using solar power in Q1 2025.
Subsequent Events
On October 4, 2024, SilverCrest and Coeur Mining Inc. ("Coeur") announced that they have entered into a definitive agreement whereby Coeur will acquire all of the issued and outstanding shares of SilverCrest pursuant to a plan of arrangement (the "Transaction"). Pursuant to the Transaction, SilverCrest shareholders will receive 1.6022 Coeur common shares for each SilverCrest common share. The special meeting and management information circular relating to the Transaction is expected to be available in Q4 2024, with the Transaction expected to close in late Q1 2025.
As a result of the Transaction and quarter end reporting, a blackout was in place which prevented the exercise of some expiring options, including 149,800 held by executives and Board of Directors. It is expected that these options, along with 163,750 expiring in late December 2024, will be exercised and the maximum number of shares sold will be those needed to cover the cost of the options and any tax obligations. with the remainder locked up as per the Transaction.
Q3 2024 Conference Call
A conference call to discuss the Company's Q3 2024 operational and financial results will be held Wednesday, November 13, 2024 at 8:00 a.m. PT / 11:00 a.m. ET. To participate in the conference call, please dial the numbers below.
Date & Time: Wednesday November 13, 2024 at 8:00 a.m. PT / 11:00 a.m. ET
Telephone: North America Toll Free: 1-800-274-8461
Conference ID: SILVER (745837)
Webcast: https://silvercrestmetals.com/investors/presentations/
ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals producer headquartered in
Non-GAAP Financial Measures
Management believes that the following non-GAAP financial measures will enable certain investors to better evaluate the Company's performance, liquidity, and ability to generate cash flow. These measures do not have any standardized definition under IFRS, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these measures differently.
Average realized gold and silver price
Average realized gold and silver price per ounce is calculated by dividing the Company's gross revenue from gold or silver sales for the relevant period by the gold or silver ounces sold, respectively. The Company believes the measure is useful in understanding the metal prices realized by the Company throughout the period. The following table reconciles revenue and metal sold during the period with average realized prices:
Three months ended | Nine months ended | |||
2024 | 2023 | 2024 | 2023 | |
Gold revenue | 37,580 | 28,005 | 100,935 | 81,361 |
Gold ounces sold during the period | 15,204 | 14,500 | 44,704 | 42,100 |
Average realized gold price (per oz sold) | $ 2,472 | $ 1,931 | $ 2,258 | $ 1,933 |
Silver revenue | 42,791 | 35,823 | 115,823 | 102,449 |
Silver ounces sold during the period | 1,451,493 | 1,530,000 | 4,299,493 | 4,341,000 |
Average realized silver price (per oz sold) | $ 29.48 | $ 23.41 | $ 26.94 | $ 23.60 |
Capital expenditures
Capital expenditures are classified into sustaining capital expenditures or non-sustaining capital expenditures depending on the nature of the expenditure. Sustaining capital expenditures are those required to support current production levels. Non-sustaining capital expenditures represent the capital spending at new projects and major, discrete projects at existing operations intended to increase production or extend mine life. Management believes this to be a useful indicator of the purpose of capital expenditures and this distinction is an input into the calculation of AISC.
The following table reconciles payments for mineral properties, plant and equipment, and equipment leases to sustaining and non-sustaining capital expenditures:
Three months ended | Nine months ended | |||
2024 | 2023 | 2024 | 2023 | |
Payments for mineral properties, plant and equipment | $ 10,449 | $ 13,081 | $ 44,797 | $ 33,930 |
Payments for equipment leases | 37 | 11 | 84 | 82 |
Total capital expenditures | 10,486 | 13,092 | 44,881 | 34,012 |
Less: Non-sustaining capital expenditures | (2,543) | (3,256) | (11,455) | (8,892) |
Sustaining capital expenditures | $ 7,943 | $ 9,836 | $ 33,426 | $ 25,120 |
Free cash flow
Free cash flow subtracts sustaining capital expenditures from net cash provided by operating activities, serving as a valuable indicator of our capacity to generate cash from operations post-sustaining capital investments. The following table reconciles this non-GAAP financial measure to the most directly comparable IFRS measure:
Three months ended | Nine months ended | |||
2024 | 2023 | 2024 | 2023 | |
Operating cash flow (1) | $ 44,166 | $ 43,801 | $ 82,618 | $ 122,165 |
Less: sustaining capital expenditures | (7,943) | (9,836) | (33,426) | (25,120) |
Free cash flow | $ 36,223 | $ 33,965 | $ 49,192 | $ 97,045 |
Free cash flow per share (basic) | $ 0.24 | $ 0.23 | $ 0.33 | $ 0.66 |
Weighted average shares outstanding (basic) | 148,585 | 146,776 | 147,759 | 147,067 |
(1) | For the three and nine months ended September 30, 2024, operating cash flow has been adjusted to include |
Working capital
Working capital is calculated as current assets less current liabilities. The Company uses working capital as a measure of the Company's operational efficiency and short-term financial health.
Operating margin
Operating margin is calculated as mine operating earnings divided by revenue. The Company uses Operating Margin as a measure of the Company's profitability. The following table reconciles this non-GAAP financial measure to the most directly comparable IFRS Accounting Standard measure:
Three months ended | Nine months ended | |||
2024 | 2023 | 2024 | 2023 | |
Revenue | $ 80,371 | $ 63,828 | $ 216,758 | $ 183,810 |
Mine operating earnings | 47,033 | 37,460 | 125,998 | 111,359 |
Operating margin | 59 % | 59 % | 58 % | 61 % |
Operating cash flow before change in working capital
The Company uses operating cash flow before change in working capital to determine the Company's ability to generate cash flow from operations, and is calculated by adding back the change in working capital to operating cash flow as reported in the consolidated statements of cash flows.
Three months ended | Nine months ended | |||
2024 | 2023 | 2024 | 2023 | |
Operating cash flow (1) | $ 44,166 | $ 43,801 | $ 82,618 | $ 122,165 |
Less: change in working capital | (6,394) | (4,268) | 4,539 | (4,106) |
Operating cash flow before change in working capital | $ 37,772 | $ 39,533 | $ 87,157 | $ 118,059 |
Operating cash flow per share (basic) | $ 0.30 | $ 0.30 | $ 0.56 | $ 0.83 |
Operating cash flow before change in working capital per share (basic) | $ 0.25 | $ 0.27 | $ 0.59 | $ 0.80 |
Weighted average shares outstanding (basic) | 148,585 | 146,776 | 147,759 | 147,067 |
(1) | For the three and nine months ended September 30, 2024, operating cash flow has been adjusted to include |
Treasury assets
SilverCrest calculates treasury assets as cash and cash equivalents plus bullion as reported in the consolidated statements of financial position. Management believes that treasury assets provide a useful measure of the Company's most liquid assets that can be used to settle short-term obligations or provide liquidity. Treasury assets are calculated as follows:
September 30 | December 31 | |
Cash and cash equivalents | $ 120,864 | $ 85,964 |
Bullion | 37,374 | 19,191 |
Treasury assets | $ 158,238 | $ 105,155 |
Cash costs
Cash costs include production costs, and government royalties. Management uses this measure to monitor the performance of its mining operation and ability to generate positive cash flow on a site basis.
AISC
All-in sustaining costs, a non-GAAP financial measure, starts with cash costs and includes general and administrative costs, reclamation accretion expense and sustaining capital expenditures. Management uses this measure to monitor the performance of its mining operation and ability to generate positive cash flow on an overall company basis.
Cash costs and AISC are calculated as follows:
Three months ended | Nine months ended | |||
2024 | 2023 | 2024 | 2023 | |
Production costs | $ 23,153 | $ 19,728 | $ 64,036 | $ 56,168 |
Government royalties | 404 | 319 | 980 | 927 |
Total cash costs (1) | 23,557 | 20,047 | 65,016 | 57,095 |
General and administrative expenses | 4,885 | 2,808 | 15,017 | 9,222 |
Reclamation accretion expense | 126 | 132 | 402 | 355 |
Sustaining capital expenditures | 7,943 | 9,836 | 33,426 | 25,120 |
Total AISC | $ 36,511 | $ 32,823 | $ 113,861 | $ 91,792 |
Silver equivalent ounces sold (koz) | 2,660 | 2,683 | 7,854 | 7,688 |
Cash costs (per AgEq sold) | $ 8.85 | $ 7.47 | $ 8.28 | $ 7.43 |
AISC (per AgEq sold) | $ 13.72 | $ 12.23 | $ 14.50 | $ 11.94 |
(1) | 2023 Figures have been recast to align with the current period's presentation. For the three and nine months ended September 30, 2024, cash costs increased by |
Adjusted earnings
Adjusted earnings and adjusted basic earnings per share (collectively, "Adjusted Earnings") are presented to remove items that are unrelated to ongoing operations. These metrics do not have a standardized definition under IFRS Accounting Standards and should not be considered as a substitute for results prepared in accordance with IFRS Accounting Standards. Other companies may calculate Adjusted Earnings differently. Adjusted Earnings excludes the tax-effected impact of transaction and integration costs, unrealized gains and losses on foreign currency derivative contracts, gains or losses from the disposal of mineral properties, plant and equipment, and deferred taxes.
Three months ended | Nine months ended | Three months ended | |||
2024 | 2023 | 2024 | 2023 | 2024 | |
Net earnings | $ 9,508 | $ 29,936 | $ 49,866 | $ 80,803 | $ 6,494 |
Increase (decrease) due to: | |||||
Transaction and integration costs | 3,435 | — | 3,435 | — | — |
Unrealized losses on foreign currency derivative contracts | 4,218 | — | 7,732 | — | 4,062 |
Mineral properties, plant and equipment gains | — | — | (20) | — | (20) |
Current tax effect from adjusting items | (380) | — | (380) | — | — |
Deferred tax (recovery) expense | 9,503 | (1,389) | 28,306 | 1,998 | 14,335 |
Adjusted earnings | 26,284 | 28,547 | 88,939 | 82,801 | 24,871 |
Weighted average shares outstanding (in 000's) Basic | 148,585 | 146,776 | 147,759 | 147,067 | 147,728 |
Adjusted basic earnings per share | $ 0.18 | $ 0.19 | $ 0.60 | $ 0.56 | $ 0.17 |
Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" (collectively "forward-looking statements") within the meaning of applicable Canadian and
Qualified Persons Statement
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is N. Eric Fier, CPG, P.Eng, CEO for SilverCrest, who has reviewed and approved its contents.
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SOURCE SilverCrest Metals Inc.
FAQ
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