Record Cash Balance and Financial Position
The cash balance is expected to exceed $500 million at year-end, positioning the company solidly in a net cash position heading into 2026. Net debt has been driven below $100 million, and the company is on track to achieve a net debt to EBITDA ratio of 0 in Q4 2025.
Strong Production and Cost Management
The company reported over 111,000 ounces of gold and 4.8 million ounces of silver production. Adjusted cash per ounce for gold and silver continued a positive trend compared to Q3 2024, at $1,215 per ounce and $14.95 per ounce, respectively.
Las Chispas and Palmarejo Performance
Las Chispas operation reported a 34% increase in free cash flow, totaling $66 million. Palmarejo delivered $47 million of free cash flow with recoveries and mill throughput at their highest levels in 6 quarters.
Lowered Cost Guidance
The company lowered its cost guidance at three out of five mines, reflecting improved cost management and conservative inflation estimates.