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Guanajuato Silver Co Ltd - Mexico-focused precious metal producer - Completes its first full year of precious metal production in 2022. Produces 1.0 million ounces of silver in the year, compared to 124,750 ounces the year prior. Produces 11,174 ounces of gold, compared to 1,440 ounces the year prior. Silver recovery improves to 86.0% from 82.9%, while gold recovery improves to 84.5% from 78.8%. Consequently, posts record revenue of $36.9 million, up sharply from $4.1 million in 2021. Net loss, meanwhile, widens to $26.8 million from $11.8 million as cost of sales surge to $43.8 million from $6.4 million year-on-year.
Chair & Chief Executive James Anderson says: ‘Throughout 2022 we have exceeded many of our ramp-up targets, such as very strong process plant recoveries, and consistently larger throughput volumes of mineralized material. Our company’s rapid growth is demonstrated by our strong quarter over quarter silver and gold production increases, which we plan to accelerate throughout 2023. Our operations team remains focused on delivering even greater success for 2023 as we aim to further enhance Guanajuato Silver’s status as one of the fastest growing silver producers in Mexico.’
Current stock price: 28.00 pence
12-month change: up 1.8%
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