Cash Flow PressureLower-than-expected operating cash flow driven by ramp-up expenses, reduced throughput, currency appreciation and higher royalties could strain near-term liquidity and constrain investment flexibility.
Operational DisruptionsHeavy rainfall, a transformer failure, and a safety shutdown led to reduced production, highlighting vulnerability to weather, equipment outages, and operational stoppages.
Ramp-up Cost And Throughput ShortfallTerronera's ramp-up resulted in higher operating costs and lower-than-planned throughput, which pressured profitability and undermined near-term production targets.