Early Signs of Turnaround in Mexico Operations
The company is witnessing early signs of a turnaround in its operations in Mexico. Key improvements include management changes, fleet renewal, and introduction of cut and fill mining methods, which are decreasing costs and increasing profitability.
Production from Three Sisters
Production has commenced from the Three Sisters area, revealing good vein widths and high-grade mineralization, which is expected to contribute significantly to production.
Strong Financial Position
The company concluded the third quarter with a cash position of over $9 million, reflecting successful capital raising efforts and disciplined cash management.
Increase in Metallurgical Recoveries
Metallurgical recoveries across all metals exceeded prior quarters due to adjustments in mining methods and improvements in ore grade.
Investments Yielding Results
Significant capital investments in underground development and exploration are yielding results, providing access to multiple mining faces and commencing production in new areas.