Overview
- The miner posted record first-quarter revenue of $476.7 million, up 95% year over year, after silver and gold output topped its midpoint guidance.
- Operating cash flow reached $311 million and free cash flow came in at $223.5 million, lifting total cash and equivalents to $1.13 billion.
- Stronger realized prices led the jump, with silver up 161% and gold up 81%, along with higher sales from La Encantada, Santa Elena and Los Gatos, and $63.6 million of bullion held in inventory.
- Costs per silver‑equivalent ounce rose to $20.28 in cash costs and $29.76 all‑in as worker profit‑sharing, higher taxes and heavier mine development raised expenses and a lower metal conversion ratio reduced reported silver‑equivalent volumes.
- Management appointed Dave Howe as COO and Alex Thompson to lead the Jarrett Canyon restart, outlined expansions at Santa Elena and Los Gatos, and set an exploration plan above 300,000 meters while keeping M&A options open without naming targets.