05:10 PM EDT, 04/17/2024 (MT Newswires) -- SilverCrest Metals ( SILV ). (SIL.TO, SILV) was at last look up 1.7% in US after hours New York trading after it provided interim operational results for the first quarter of 2024 from the company's Las Chispas Operation located in Sonora, Mexico.

Among Q1 operating results and sales highlights, Silvercrest cited: recovered 14,719 ounces of gold and 1.41 million ounces of silver, or 2.58 million silver equivalent ounces; and sold 15,000 ounces of gold and 1.40 million ounces of silver, or 2.59 million AgEq ounces; and average realized price of $2,062/oz gold and $23.37/oz silver generating $63.6 million of revenue.

Chief executive Eric Fier in a statement said, "Our first quarter has set the stage for another year of strong operational performance at Las Chispas, with silver sales exceeding plan and positioning us well to achieve 2024 sales guidance. Mobilization of our new mining contractor began in February 2024 and ramp-up of the underground continues to progress well. In the quarter, we achieved record silver equivalent process grades of 874 grams per tonne and recoveries of 98.3%, while completing planned maintenance ahead of schedule and returning plant availability to 92% in March.

"Strong performance of bullion prices in the quarter contributed to a 4% increase in our bullion holdings, to end the quarter at US$20.0 million. As expected a significant cash payment for 2023 taxes and duties was completed, bringing total treasury assets2 to $91.1 million at the end of the quarter. We look forward to providing more details of our operational and financial performance in mid May."

The company's unaudited condensed interim consolidated financial statements for the three months ended March 31, 2024 will be released after market on May 14, 2024.

The company's shares closed up C$0.17 to C$9.81 on the Toronto Stock Exchange.