08:19 AM EDT, 03/11/2024 (MT Newswires) -- SilverCrest Metals Inc. ( SILV ) reported Monday an EPS of US$0.25 in the fourth quarter of 2023, rising from US$0.03 posted a year ago.

Revenue increased to US$61.3 million from US$40.8 million while free cash flow stood at US$24.1 million. Silver equivalent recovery climbed to 2.47 million ounces from 2.15 million ounces.

For full-year 2023, SilverCrest's EPS jumped to US$0.79 from US$0.21 while revenue surged to US$245.1 million from US$43.5 million. Free cash flow reached US$121.1 million and silver equivalent recovery surged to 10.40 million ounces from 3.16 million ounces.

"2023 marked a successful first full year of commercial production at Las Chispas, with the operation exceeding the high end of sales guidance, beating the low end of AISC guidance, delivering impressive operating margins of 61%, and generating $121.1 million in free cash flow," CEO N. Eric Fier said.

SilverCrest said the Las Chispas underground operation will continue its ramp-up through 2024.

The company was up 4.5% at last look in US pre-market trading.