- Revenue growth from $2.5 million in Q3 to $3.9 million in Q4 2024
- Strong metal recoveries with 79% for silver and 84% for gold
- Minimal Q4 net loss of $38,000, showcasing an improvement from previous quarters
Sierra Madre Gold and Silver (SMDRF, Financial) reported its financial results for FY 2024, highlighting a total revenue generation of $6.5 million from operations at the Guitarra Mine Complex in Mexico. The company achieved commercial production on January 1, 2025, following a successful six-month test mining program.
In Q4 2024, the company generated revenues of $3.9 million, an improvement from $2.5 million in Q3 2024. This included silver revenues of $1.9 million, priced at $31.58 per ounce, and gold revenues of $2.4 million, priced at $2,667 per ounce. The net loss for Q4 was minimized to $38,000.
The Guitarra Mine processed 38,464 dry metric tonnes (DMT) in Q4 2024, with silver recoveries of 79% and gold recoveries of 84%. Concentrate deliveries for the quarter totaled 795 DMT, containing approximately 59,178 ounces of silver and 897 ounces of gold.
Operational highlights for the company included a 24-month concentrate off-take agreement with MRI Trading AG, commencing commercial production post-January 2025, and securing regulatory approvals for dry stack tailings deposition.
Despite challenges, Sierra Madre remains focused on optimizing operations and expects improvement in the operating costs and head grades of mineralized materials in 2025.
