May 28, 2025

Guanajuato Silver – Solid Q1 2025 Financials And US$4.8M In Positive Mine Operating Income Demonstrate That The Company Is At A Strong Inflection Point

17 minutes

James Anderson, CEO of Guanajuato Silver (TSX.V:GSVR – OTCQX:GSVRF), joins me to review the solid Q1 2025 financials and operational metrics, demonstrating that the Company has reached a strong inflection point. We also discuss the growth plans for the company through operational efficiencies at their 4 producing mines in Mexico, ongoing exploration initiatives, and the potential future development at Pinguico to augment throughput at their El Cubo mill.

Selected Q1 2025 Highlights:

Record mine operating income of $4,845,773 was up 82% over the previous quarter; the Company's mining operations have now successfully generated four consecutive quarters of positive mine operating income.

Record revenue for the quarter of $21,330,483 was up 12% over the previous quarter. Guanajuato Silver is a primary precious metals producer with over 90% of the Company's revenue derived from the production and sale of silver and gold.

Operating costs continued to improve over the quarter; cash cost of $19.19 per AgEq ounce was 3% lower than the previous quarter; All-In Sustaining Cost ("AISC")* was $23.41 per AgEq ounce - a 6% improvement over Q4, 2024.

Production for the quarter was 738,006 silver equivalent ounces ("AgEq"), which was a 1% increase over the previous quarter. Production consisted of 380,406 ounces of silver, 3,347 ounces of gold, 699,294 pounds of lead, and 909,029 pounds of zinc.

Adjusted EBITDA was up 135% over the previous quarter to $4,104,669.

James reviewed the out-sized leverage that Guanajuato has to the price of precious metals, and the operations returned record income and the highest quarterly revenue in the last quarter, as working efficiencies continue to show marked improvements at all four of their producing assets in Mexico.

Guanajuato Silver produces silver and gold concentrates from the El Cubo Mine Complex, Valenciana Mines Complex, and the San Ignacio mine; all three mining centers are located within the state of Guanajuato, which has an established 480-year mining history. In addition, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. The operations team is also augmenting material at the Cata processing facility in Guanajuato with ore from both the historic Horcon Mine project, located in the state of Jalisco, and from stockpiles at the Pinguico mine. James outlines that the company is working to get a permit to be able to extract more ore from the Pinguico underground mine, and is looking to launch a more comprehensive exploration and development work program at the Horcon Mine.

If you have any follow up questions for James on Guanajuato Silver, then please email them into me at [email protected].

In full disclosure, Shad is a shareholder of Guanajuato Silver at the time of this recording and may choose to buy or sell shares at any time.

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