Sierra Madre Gold and Silver (SM.V) has confirmed it has obtained full commercial production at its Guitarra mine complex in Mexico. All aspects of the mining operation (including mining, crushing and milling) have ben running at a capacity of 500 wmt per day for the past 90 days.
As the company is now in full commercial production, it will finally allow Sierra Madre to publish proper mining data going forward, including revenues and all-in sustaining costs, which will make it easier to compare Sierra Madre to other silver producers in Mexico. The final update for 2024 mentioned a total of almost 1,300 dmt of concentrate were shipped (with an additional 95 tonnes held in inventory as of year end) with an average concentrate grade of almost 2,600 g/t silver and just under 35 g/t gold. This means the shipped concentrate contained 108,000 ounces of silver and about 1,450 ounces of gold.
We are now looking forward to seeing a production guidance for 2025 and hope to see the AISC to come in around the low-$20 range for this first full year of operations.
Disclosure: The author has a long position in Sierra Madre Gold and Silver. Sierra Madre is a sponsor of the website. Please read the disclaimer.
