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Guanajuato ups silver equivalent production 85% in August due to integration of new mines

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(Kitco News) - Guanajuato Silver (TSXV: GSVR) today provided an operations update highlighting the impact of additional production from the company's recently acquired Topia and San Ignacio mines.

The company said that it produced 267,525 ounces of silver equivalent (AgEq) in August 2022, up 122,864 AgEq ounces or 85% from July, which only included production from El Cubo.

GSilver also pointed out that cash costs per AgEq ounce continue to decline at El Cubo with July costs declining to $12.85, adding that costs also remain in-line with expectations companywide at $15.09 in August.

Importantly, the company noted it anticipates ending the year at a run rate of approximately 3.4M AgEq ounces per annum.

“Due to the professional integration of Topia and San Ignacio into Guanajuato Silver's production schedule, in August the company saw an 85% increase in AgEq ounces produced over July 2022. Additional incremental increases in production from Topia and San Ignacio are anticipated in the months ahead as part of the company´s ramp up schedule,” the company said in its statement.

GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico, which has an established 480-year mining history. The company operates five mines and three processing facilities.


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