The new plan also predicts robust annual cash flows and presents a marked improvement in mining efficiency and cost management. All-in sustaining costs are now pegged at $6.29 per ounce of payable silver.
Chief executive Dale Andres highlighted the disciplined optimization of assets and successful resource expansion as key drivers for the mine’s growth potential. The updated mineral reserve estimate shows a 28% increase in contained silver ounces from the previous year, with a 2024 mineral reserve of 10.3 million tonnes at 172 grams per tonne silver.
BMO metals & mining analyst Kevin O’Halloran said the updated reserve grade was slightly below the bank’s modelled expectation, averaging 389 grams per tonne of silver equivalent (AgEq) at BMO metals prices.
Operating costs, however, beat the bank’s expectations. “This was driven by higher throughput and increased longhole mining, while sustaining capex was above our…
