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Guanajuato Silver produces record 836,375 silver equivalent ounces in Q4 2022

Vladimir Basov

Kitco News

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(Kitco News) - Guanajuato Silver (TSXV: GSVR) announced Thursday that its consolidated silver equivalent production of 836,375 ounces in Q4 2022 was 19% higher than the previous quarter due to the continuing ramp-up of operations at all of GSilver's mining assets.

According to a press release, total production for 2022 was 2.15 million silver equivalent ounces.

Importantly, the company said it ended the year at a commercial run-rate of 3.5 million silver-equivalent ounces, which was approximately 8% higher than initially anticipated for 2022.

GSilver noted that all assets acquired through the MMR transaction (San Ignacio, VMC and Topia) in August 2022 are now fully operational, adding that towards the end of the quarter, the Cata mill at VMC was recommissioned and is currently processing mineralized material from San Ignacio and the Los Pozos mine at VMC.

"We ended 2022 with record production of precious metals from five mines and three processing facilities," commented Chairman and CEO James Anderson. "Capital investments made during Q4 are already generating improved efficiencies and our operations team continues to look for opportunities to enhance profit margins as we strive to continue our trend of quarterly increases in silver production across all of our producing assets."

GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from the El Cubo mine, Valenciana mines complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history.

Additionally, the company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver said it is one of the fastest growing silver producers in Mexico.

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By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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