Revenue and Cash Flow Growth
Revenues reached $81.3 million, up 13% from last year, with cash flow from operating activities setting a new quarterly record at $48.3 million, a 21% increase year-over-year.
Increase in Metal Sales and Prices
Silver and gold sales increased by 5% and 95%, respectively, with selling prices also rising by 12% for silver and 45% for gold compared to Q1 of the previous year.
Strong Cash Position
Ended the quarter with a cash position of $377.1 million, up $8 million from March, excluding investments in associates valued at $72.2 million.
Production Increases
Produced 1.8 million ounces of silver (up 6%), over 2,000 ounces of gold (up 79%), and 16 million pounds of lead (up 1%).
Construction and Legal Progress
El Domo and Condor projects in Ecuador progressing well, with legal challenges to environmental licenses dismissed.