SilverCrest Provides Third Quarter Operational Results and Conference Call Details
Original announcement by tmx on
- Company
- SilverCrest Metals Inc.
- Ticker
- SIL
- Exchange
- TSX
- Region
- Sonora, Mexico
- Primary commodity
- Silver
- Secondary commodities
- Gold
- Document categories
- Production, Metallurgy
- Extracted
- 2026-09-16 23:07:58 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
SilverCrest Metals Inc. announced strong operational results for the third quarter of 2024 from its Las Chispas Operation in Sonora, Mexico, reporting record revenue of $80.4 million. The company recovered 14,928 ounces of gold and 1.41 million ounces of silver, or 2.60 million silver equivalent ounces, with high process recoveries exceeding 98% for both metals. With year-to-date silver equivalent sales of 7.9 million ounces, SilverCrest is well-positioned to meet or exceed its 2024 annual sales guidance.
Reasoning: SilverCrest reported strong Q3 2024 operational results with record revenue, high metal prices, and increased treasury assets, positioning the company to meet or exceed its annual sales guidance. Process recoveries remain high, though processed grades for both gold and silver saw a slight decrease compared to the prior year period.
Positive factors
- Record revenue generated in Q3 2024
- Strong metal prices for gold and silver
- Increased treasury assets (cash and bullion)
- On track to meet or exceed 2024 annual sales guidance
- High process recoveries for both gold and silver
- Increased ore mined and mill throughput in Q3 2024 compared to Q3 2023
Negative factors
- Average processed grade for gold and silver decreased in Q3 2024 compared to Q3 2023
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 48
Classification and evidence
Production Increasepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: Ore mined increased by 24% from the previous quarter and continues to track ahead of plan.
Evidence · text
“Ore mined in the quarter increased by 24% from the previous quarter and continues to track ahead of plan”
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: Process recovery for gold was 98.5% and for silver was 98.3% in Q3 2024.
Evidence · table
“98.5 %”
Context: Process recovery
Metal Equivalent Opaquenegative · Story-specific tag
Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent.
Why it applies: The silver equivalent ratio is provided (79.51:1) but the underlying metal prices used for the calculation are not explicitly disclosed in the immediate context.
Evidence · text
“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.”
QP/CP Signedpositive · Story-specific tag
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: N. Eric Fier, CPG, P.Eng, CEO for SilverCrest, is the Qualified Person and has reviewed and approved the contents of the news release.
Evidence · text
“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.”
Extracted facts
Stored fact records: 12. Some facts used in scoring do not have a stored record.
Metallurgical Results (12)
Fact 1Las Chispas Operation · goldRecovery: 98.5 %Head Grade: 3.87Head Grade Unit: gptView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- gold
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 98.5 %
- Recovery Basis
- actual_test
- Head Grade
- 3.87
- Head Grade Unit
- gpt
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Gold recovery remains very high, indicating efficient processing, though the processed grade saw a decrease from the prior year.
Positive factors
- High process recovery for gold
Negative factors
- Average processed grade for gold decreased compared to Q3 2023
Evidence · table
“3.87”
Context: Average processed grade
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 98.5% is at or above the exceptional band (95%)
Fact 2Las Chispas Operation · goldRecovery: 98.5 %Head Grade: 4.35Head Grade Unit: gptView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- gold
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 98.5 %
- Recovery Basis
- actual_test
- Head Grade
- 4.35
- Head Grade Unit
- gpt
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Year-to-date gold recovery is consistently high, but the average processed grade shows a slight decline compared to the prior year.
Positive factors
- High process recovery for gold
Negative factors
- Average processed grade for gold decreased year-to-date compared to prior year
Evidence · table
“4.35”
Context: Average processed grade
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 98.5% is at or above the exceptional band (95%)
Fact 3Las Chispas Operation · silverRecovery: 98.3 %Head Grade: 366Head Grade Unit: gptView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- silver
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 98.3 %
- Recovery Basis
- actual_test
- Head Grade
- 366
- Head Grade Unit
- gpt
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Silver recovery remains very high, indicating efficient processing, though the processed grade saw a decrease from the prior year.
Positive factors
- High process recovery for silver
Negative factors
- Average processed grade for silver decreased compared to Q3 2023
Evidence · table
“366”
Context: Average processed grade
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 98.3% is at or above the exceptional band (90%)
Fact 4Las Chispas Operation · silverRecovery: 98.2 %Head Grade: 416Head Grade Unit: gptView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- silver
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 98.2 %
- Recovery Basis
- actual_test
- Head Grade
- 416
- Head Grade Unit
- gpt
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Year-to-date silver recovery is consistently high, but the average processed grade shows a decline compared to the prior year.
Positive factors
- High process recovery for silver
Negative factors
- Average processed grade for silver decreased year-to-date compared to prior year
Evidence · table
“416”
Context: Average processed grade
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 98.2% is at or above the exceptional band (90%)
Fact 5Las Chispas Operation · silverRecovery: 98.4 %Head Grade: 674Head Grade Unit: gptView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- silver
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 98.4 %
- Recovery Basis
- actual_test
- Head Grade
- 674
- Head Grade Unit
- gpt
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Silver equivalent recovery remains very high, indicating efficient processing, though the processed grade saw a decrease from the prior year.
Positive factors
- High process recovery for silver equivalent
Negative factors
- Average processed grade for silver equivalent decreased compared to Q3 2023
Evidence · table
“674”
Context: Average processed grade
Fact 6Las Chispas Operation · silverRecovery: 98.4 %Head Grade: 762Head Grade Unit: gptView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- silver
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 98.4 %
- Recovery Basis
- actual_test
- Head Grade
- 762
- Head Grade Unit
- gpt
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Year-to-date silver equivalent recovery is consistently high, but the average processed grade shows a slight decline compared to the prior year.
Positive factors
- High process recovery for silver equivalent
Negative factors
- Average processed grade for silver equivalent decreased year-to-date compared to prior year
Evidence · table
“762”
Context: Average processed grade
Fact 7Las Chispas Operation · goldRecovery: 98.3 %Head Grade: 4.35Head Grade Unit: gptHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- gold
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 98.3 %
- Recovery Basis
- actual_test
- Head Grade
- 4.35
- Head Grade Unit
- gpt
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-10-10T00:00:00.000Z
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Historical gold processed grade and recovery for comparison with current quarter results.
Evidence · table
“4.35”
Context: Average processed grade
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 98.3% is at or above the exceptional band (95%)
Fact 8Las Chispas Operation · goldRecovery: 98.1 %Head Grade: 4.42Head Grade Unit: gptHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- gold
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 98.1 %
- Recovery Basis
- actual_test
- Head Grade
- 4.42
- Head Grade Unit
- gpt
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-10-10T00:00:00.000Z
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Historical gold processed grade and recovery for comparison with current year-to-date results.
Evidence · table
“4.42”
Context: Average processed grade
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 98.1% is at or above the exceptional band (95%)
Fact 9Las Chispas Operation · silverRecovery: 98.1 %Head Grade: 413Head Grade Unit: gptHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- silver
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 98.1 %
- Recovery Basis
- actual_test
- Head Grade
- 413
- Head Grade Unit
- gpt
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-10-10T00:00:00.000Z
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Historical silver processed grade and recovery for comparison with current quarter results.
Evidence · table
“413”
Context: Average processed grade
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 98.1% is at or above the exceptional band (90%)
Fact 10Las Chispas Operation · silverRecovery: 96.1 %Head Grade: 427Head Grade Unit: gptHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- silver
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 96.1 %
- Recovery Basis
- actual_test
- Head Grade
- 427
- Head Grade Unit
- gpt
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-10-10T00:00:00.000Z
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Historical silver processed grade and recovery for comparison with current year-to-date results.
Evidence · table
“427”
Context: Average processed grade
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 96.1% is at or above the exceptional band (90%)
Fact 11Las Chispas Operation · silverRecovery: 98.2 %Head Grade: 759Head Grade Unit: gptHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- silver
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 98.2 %
- Recovery Basis
- actual_test
- Head Grade
- 759
- Head Grade Unit
- gpt
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-10-10T00:00:00.000Z
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Historical silver equivalent processed grade and recovery for comparison with current quarter results.
Evidence · table
“759”
Context: Average processed grade
Fact 12Las Chispas Operation · silverRecovery: 97 %Head Grade: 778Head Grade Unit: gptHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Las Chispas Operation
- Commodity
- silver
- Region
- mexico
- Reported Region
- Sonora, Mexico
- Ticker
- SIL
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 97 %
- Recovery Basis
- actual_test
- Head Grade
- 778
- Head Grade Unit
- gpt
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-10-10T00:00:00.000Z
Dates
- Event date
- 2024-10-10T00:00:00.000Z
Reasoning: Historical silver equivalent processed grade and recovery for comparison with current year-to-date results.
Evidence · table
“778”
Context: Average processed grade
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.