SilverCrest Metals (SIL) Corporate Presentation summary

Business overview

• SilverCrest Metals is a high-grade precious metals producer focused on low-cost, resilient production with a minimally dilutive capital structure and strong execution flexibility.

• Operates the Las Chispas underground mine in Sonora, Mexico, producing 55% silver and 45% gold, with a stable production profile of 10 Moz AgEq per year for the first seven years.

• Maintains a debt-free balance sheet, with $122M in treasury assets as of June 30, 2024, including $98M in cash and $24M in bullion.

• Leadership team and board have extensive mining, engineering, and financial experience, supporting operational and governance excellence.

Financial and operational performance

• Achieved record Q2 2024 revenue of $72.7M and mine operating earnings of $41.5M, with free cash flow of $24.3M ($0.16 per share).

• Operating margins averaged ~60% from Q1 2023 to Q2 2024, outperforming 2023 guidance and improving 2024 guidance.

• Cash costs and AISC for Q2 2024 were $8.87/oz and $16.88/oz AgEq sold, respectively, with AISC guidance for 2024 improved to $14.90–$15.75/oz AgEq, well below peer averages.

• Treasury assets grew 34% from Q1 to Q2 2024, and retained earnings increased 30% in the same period.

Production and reserves

• Las Chispas mine processed 1,216 tpd in Q2 2024, with AgEq process grades of 765 gpt and record recoveries of 98.4%.

• Proven and probable mineral reserves total 3.4Mt at 4.08 gpt Au and 395 gpt Ag (719 gpt AgEq), containing 446 koz Au, 43.1 Moz Ag, and 78.6 Moz AgEq.

• Measured and indicated resources total 2.7Mt at 6.69 gpt Au and 644 gpt Ag (1,176 gpt AgEq), containing 579.9 koz Au, 55.8 Moz Ag, and 101.9 Moz AgEq.

• Stockpiles provide 2–3 months of available feed throughout the mine life, supporting operational flexibility.