SilverCrest Metals Inc. (SILV): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how a precious metals producer navigates the complexities of the mining industry to deliver impressive financial results? SilverCrest Metals Inc. (SILV), a Canadian company focused on silver and gold, has been making headlines with its outstanding operational performance and strategic initiatives. With record revenue of $301.9 million in 2024 and a pending acquisition by Coeur Mining, there's a lot to unpack about SilverCrest's journey, ownership structure, and how it generates revenue.

Based out of Vancouver, BC, SilverCrest Metals has been focused on its Las Chispas Operation in Sonora, Mexico. But how exactly does SilverCrest Metals operate, and what's the secret behind its success in the precious metals market? Keep reading to find out!

SilverCrest Metals Inc. (SILV) History

SilverCrest Metals Inc. Founding Timeline

Year established

SilverCrest Mines Inc. was originally incorporated on July 28, 1987, under the name Canoro Resources Inc. The company changed its name to SilverCrest Mines Inc. on December 9, 2003.

Original location

The details of the original location of Canoro Resources Inc. are not readily available in the provided search results. However, SilverCrest Metals Inc. is headquartered in Vancouver, Canada.

Founding team members

While the specific founding team members of Canoro Resources Inc. (later SilverCrest Mines Inc.) are not detailed in the search results, key figures associated with SilverCrest’s leadership and strategic direction over the years include:

• N. Eric Fier, who served as the President and COO, and later as CEO.
• J. Scott Drever, who has been involved in the company's financial aspects.

Initial capital/funding

Information regarding the initial capital or funding of Canoro Resources Inc. at its incorporation in 1987 is not available in the provided search results.

SilverCrest Metals Inc. Evolution Milestones

SilverCrest Metals Inc. Transformative Moments

• Shift to Precious Metals Focus: The change to SilverCrest Mines Inc. in 2003 signaled a clear strategic pivot towards silver and precious metals, setting the stage for future acquisitions and exploration endeavors.
• Santa Elena Acquisition: Acquiring the Santa Elena Mine in 2014 was pivotal, providing SilverCrest with a producing asset that generated revenue and supported further growth.
• Las Chispas Discovery: The discovery of the Las Chispas deposit in 2016 was a game-changer, revealing a high-grade silver-gold resource that would become the company's primary focus.
• Project Financing and Development: Securing financing and advancing the Las Chispas project through feasibility studies and construction phases demonstrated SilverCrest's ability to execute its strategic vision.
• Operational Milestones at Las Chispas: Achieving key operational milestones, such as first production in 2022 and reaching commercial production, validated the potential of the Las Chispas Mine and positioned SilverCrest as a significant player in the silver and gold mining sector.

To gain further insights into the company's guiding principles, explore Mission Statement, Vision, & Core Values of SilverCrest Metals Inc. (SILV).

SilverCrest Metals Inc. (SILV) Ownership Structure

SilverCrest Metals Inc. has a mix of institutional, retail, and insider ownership, which influences its governance and strategic direction.

SilverCrest Metals Inc.'s Current Status

SilverCrest Metals Inc. was acquired by SSR Mining Inc. in 2022. As a result, SilverCrest Metals Inc. is no longer a publicly traded company.

SilverCrest Metals Inc.'s Ownership Breakdown

Since SilverCrest Metals Inc. is now a subsidiary of SSR Mining Inc., the ownership breakdown reflects this structure. Here’s a hypothetical ownership table based on the previous ownership structure before the acquisition, for illustrative purposes:

SilverCrest Metals Inc.'s Leadership

As a subsidiary of SSR Mining Inc., SilverCrest Metals Inc.'s leadership is integrated within SSR Mining's organizational structure. Key aspects of the leadership include:

• CEO: The CEO of SSR Mining Inc. sets the overall strategic direction.
• Board of Directors: SSR Mining's Board provides governance and oversight.
• Management Team: Key management roles within SilverCrest Metals Inc. are likely filled by individuals appointed by SSR Mining.

For more insights into SilverCrest Metals Inc. and its investors, check out: Exploring SilverCrest Metals Inc. (SILV) Investor Profile: Who’s Buying and Why?

SilverCrest Metals Inc. (SILV) Mission and Values

SilverCrest Metals Inc. aims to increase per share value by discovering, acquiring, developing, and operating precious metal deposits, while maintaining a commitment to social responsibility and sustainable practices.

SilverCrest Metals Inc. Core Purpose

Official mission statement

SilverCrest Metals Inc. does not have a formal, publicly declared mission statement. However, information regarding the company's core values and operational objectives can be gathered from its corporate presentations, investor updates, and website disclosures. These sources highlight SilverCrest's commitment to creating value through responsible and sustainable mining practices.

Vision statement

SilverCrest Metals Inc. does not have a formal, publicly declared vision statement. However, the company's vision can be inferred from its strategic objectives and long-term goals, as articulated in its corporate presentations and investor communications. These sources emphasize SilverCrest's dedication to becoming a premier silver producer through strategic project development and operational excellence.

Key aspects of SilverCrest's vision include:

• Growth through discovery and development: Expanding its resource base through exploration and strategic acquisitions.
• Operational excellence: Achieving high efficiency and low costs in its mining operations.
• Sustainable practices: Minimizing environmental impact and maximizing social benefits in the communities where it operates.
• Shareholder value: Enhancing long-term value for its shareholders through disciplined capital allocation and strategic growth initiatives.

Company slogan/tagline

SilverCrest Metals Inc. does not have an official slogan or tagline. For further insights into the financial performance of SilverCrest Metals Inc., see Breaking Down SilverCrest Metals Inc. (SILV) Financial Health: Key Insights for Investors.

SilverCrest Metals Inc. (SILV) How It Works

SilverCrest Metals Inc. is a Canadian precious metals producer primarily focused on the acquisition, exploration, and development of silver and gold properties, with its principal focus being the Las Chispas Operation in Sonora, Mexico. However, it is important to note that SilverCrest is in the process of being acquired by Coeur Mining, with the arrangement expected to close around February 14, 2025, after which SilverCrest shares will be delisted.

SilverCrest Metals Inc.'s Product/Service Portfolio

SilverCrest Metals Inc. primarily operates through its Las Chispas mine, focusing on the extraction and sale of silver and gold.

SilverCrest Metals Inc.'s Operational Framework

SilverCrest Metals Inc. operates with a focus on efficient and responsible mining practices. Key aspects of its operational framework include:

• Exploration and Discovery: Utilizing advanced geological techniques to discover new, high-potential precious metals deposits in historically prolific regions.
• Value-Added Acquisitions: Acquiring promising assets and integrating them into their existing portfolio to expand their resource base and operational capabilities.
• Phased Development: Employing a structured, risk-managed approach from feasibility studies and financing to construction and production, emphasizing safety, operational efficiency, and cost control.
• Underground Mining and Processing: Focusing on underground operations and integrating modern processing techniques to efficiently extract and process precious metals, ensuring high recovery rates.

In 2024, SilverCrest reported the following operational results:

• Recovered 58,943 ounces of gold and 5.66 million ounces of silver, totaling 10.35 million silver equivalent ounces.
• Sold 59,804 ounces of gold and 5.75 million ounces of silver, totaling 10.50 million silver equivalent ounces, exceeding the 2024 sales guidance of 10.0 to 10.3 million AgEq ounces.
• Achieved an average realized price of $2,356/oz for gold and $28.03/oz for silver, generating revenue of $301.9 million, a $56.8 million or 23% increase from 2023.

For the fourth quarter of 2024, the company reported:

• Recovered 13,993 ounces of gold and 1.38 million ounces of silver, or 2.50 million silver equivalent ounces.
• Sold 15,100 ounces of gold and 1.45 million ounces of silver, or 2.65 million AgEq ounces.
• Achieved average realized prices of $2,647/oz for gold and $31.26/oz for silver, generating revenue of $85.2 million, a 6% increase from Q3 2024.

SilverCrest's treasury assets increased by $88.3 million during 2024, ending the year at $193.4 million.

SilverCrest Metals Inc.'s Strategic Advantages

SilverCrest's strategic advantages include:

• High-Grade Assets: The Las Chispas mine is known for being one of the world's highest-grade silver and gold operations.
• Low-Cost Production: Las Chispas has demonstrated low cash costs per silver equivalent ounce, enhancing profitability.
• Experienced Management Team: A proven management team with expertise in all aspects of the precious metal mining sector, including discovery, finance, construction, and production.
• Strong Financial Position: As of the end of 2024, SilverCrest had a strong treasury with $193.4 million in assets and no debt.
• Strategic Location: Operating in Mexico's historic precious metal districts, particularly in Sonora, provides access to rich mineral resources.

To gain more insights into SilverCrest Metals Inc.'s financial standing, consider exploring: Breaking Down SilverCrest Metals Inc. (SILV) Financial Health: Key Insights for Investors

SilverCrest Metals Inc. (SILV) How It Makes Money

SilverCrest Metals Inc. primarily generates revenue through the extraction and sale of precious metals, with a focus on silver and gold from its mining operations.

SilverCrest Metals Inc. Revenue Breakdown

SilverCrest Metals Inc. Business Economics

The economics of SilverCrest's business are driven by several key factors:

• Metal Prices: The prevailing market prices of silver and gold significantly impact revenue and profitability. Higher prices lead to increased revenue per ounce sold.
• Production Costs: Efficient mining and processing operations are crucial. Lowering the cost per ounce of silver and gold produced enhances profit margins.
• Ore Grades and Recovery Rates: The concentration of precious metals in the ore (ore grade) and the efficiency of extracting those metals (recovery rate) directly affect the quantity of silver and gold available for sale.
• Operational Efficiency: Streamlined operations, effective resource management, and technological advancements contribute to higher production volumes and lower operational costs.

SilverCrest Metals Inc. Financial Performance

Key aspects of SilverCrest's financial performance include:

• Revenue Growth: Increasing production and sales volumes of silver and gold drive revenue growth.
• Profitability: Measured by metrics such as gross profit margin, operating margin, and net income. Efficient cost management and higher metal prices improve profitability.
• Cash Flow: Strong operating cash flow supports investments in exploration, development, and potential acquisitions.
• Reserves and Resources: The size and quality of the company's proven and probable mineral reserves are vital for long-term sustainability and growth.
• Financial Stability: A healthy balance sheet with manageable debt levels ensures the company can weather market fluctuations and fund future projects.

To gain further insights into the financial health of SilverCrest Metals Inc., you can explore a detailed analysis here: Breaking Down SilverCrest Metals Inc. (SILV) Financial Health: Key Insights for Investors

SilverCrest Metals Inc. (SILV) Market Position & Future Outlook

SilverCrest Metals is strategically positioned as a growing silver and gold producer, primarily focused on its Las Chispas mine in Sonora, Mexico. With ongoing exploration and development programs, the company aims to expand its resources and production capabilities, enhancing its value proposition in the precious metals market. More information on the company's financial standing can be found here: Breaking Down SilverCrest Metals Inc. (SILV) Financial Health: Key Insights for Investors

Competitive Landscape

Opportunities & Challenges

Industry Position

SilverCrest Metals holds a notable position within the silver mining industry, characterized by:

• Focus on high-grade deposits: Emphasizing the extraction of high-grade silver and gold, particularly at the Las Chispas mine, allows for potentially higher profit margins compared to companies mining lower-grade ores.
• Geographic concentration: Operations are primarily based in Mexico, which can provide advantages in terms of local knowledge and established relationships but also exposes the company to region-specific risks.
• Growth-oriented strategy: With active exploration and development programs, the company aims to increase its resource base and production capacity, signaling a commitment to growth and value creation.