Mining Stock Daily Morning Briefing: Sierra Madre Gold and Silver Generate $6.5M in Revenues in 2024
Apr 23, 2025
Fluctuations in gold and silver prices take center stage, with gold facing a pullback while silver holds strong. Sierra Madre Gold and Silver shines with impressive revenues of $6.5 million from the Guitara mine. Recent mining activities reveal exciting discoveries, including gold prospects in Australia. Meanwhile, Southern Cross Gold and American Eagle Gold are busy with exploration, and a notable acquisition offer from Sierra Metals adds intrigue to the market landscape.
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Divergent Metal Market Trends
- Gold prices recently reached $3,500 an ounce before pulling back about $80, signaling a needed correction after being overbought.
- Silver and copper are showing strength, with silver up 1.18% and copper up 3%, indicating divergent metal trends.
Sierra Madre's 2024 Revenue Insight
- Sierra Madre Gold and Silver generated $6.5 million in 2024 revenues from a six-month test mining program.
- The Guitara mine complex operates at 500 tons per day and reached commercial production on January 1st, 2025.
Exploration Success Highlights
- Founders Metals extended mineralization at their Boise prospect by 1,000 meters, supporting a multi-kilometer scale gold system.
- Southern Cross Gold's Apollo Prospect shows high-grade mineralization at depth, consistent with epizonal gold-antimony deposit patterns.