SilverCrest Metals Inc. (SILV) Q2 2023 Earnings Call Transcript


SilverCrest Metals Inc. (NYSE:SILV) Q2 2023 Earnings Conference Call August 10, 2023 11:00 AM ET

Company Participants

Eric Fier – Chief Executive Officer

Chris Ritchie – President

Pierre Beaudoin – Chief Operating Officer

Conference Call Participants

Stephen Soock – Stifel

John Sclodnick – Desjardins

Operator

Good morning, ladies and gentlemen and welcome to SilverCrest reports Second Quarter 2023 Results Conference Call. [Operator Instructions] This call is being recorded on Thursday, August 10, 2023. I would now like to turn the conference over to Eric Fier, CEO and Director. Please go ahead, sir.

Eric Fier

Thank you, operator and good morning, everybody and thanks for joining. Today, we will be providing commentary on our robust Q2 2023 results and H2 guidance. After which, we will be happy to take questions. The slide deck we will be referring to in this presentation is available on our website at silvercrestmetals.com under the Investors tab.

Before I get started, I would like to direct you to the forward-looking statements on Slide 2. All figures discussed this morning are in U.S. dollars unless otherwise stated and any references to the report are in relationship to the recently released updated technical report. All of the ounce comments on ounce and per ounce references discussed will be based on silver equivalent ounces unless otherwise specified.

On the call with me today is Chris Ritchie, President and Pierre Beaudoin, Chief Operating Officer.

Starting on Slide 3, Q2 marked another successful quarter for production. We have continued to generate free cash flow after eliminating our debt with $25 million repayment in the quarter, also adding approximately $4 million in volume and $8 million of cash to our treasury assets, while spending about $10 million in sustaining capital. Our balance sheet continues to be a differentiator among our peers.

The



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