Discovery Silver Corp.: Q4 2024 and FY 2024 Financial Results
Toronto, March 26, 2025 – Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) is pleased to announce the release of its financial results for the fourth quarter (“Q4 2024”) and full year (“FY 2024”) ended December 31, 2024. All figures are stated in Canadian dollars.
Financial Highlights
For Q4 2024, Discovery reported total revenue of $12.5 million, a significant increase from the $8.2 million in the previous quarter. The Company’s net income for the quarter was $2.6 million, compared to a net loss of $1.2 million in Q3 2024. This improvement was primarily driven by higher silver and gold sales and increased production levels.
For FY 2024, Discovery reported total revenue of $45.3 million, up from $32.1 million in FY 2023. The Company’s net income for the year was $7.3 million, compared to a net loss of $1.1 million in FY 2023. This growth was due to the successful ramp-up of operations at its flagship Puerto Rico Project.
Operational Highlights
During Q4 2024, Discovery produced 800,000 silver ounces and 2,500 gold ounces, representing a 13% and 19% increase, respectively, compared to the previous quarter. For FY 2024, the Company produced a total of 2.8 million silver ounces and 8,500 gold ounces, a 33% and 51% increase, respectively, compared to FY 2023.
Outlook
Discovery is optimistic about its future growth prospects. The Company expects to continue increasing production levels at its Puerto Rico Project and is exploring new opportunities to expand its mineral reserves. Discovery also intends to maintain a strong financial position, with a focus on debt reduction and cost control.
Impact on Individuals
The financial performance of Discovery Silver Corp. may have a positive impact on individual investors who hold shares in the company. As the Company continues to grow and increase production levels, its stock price may increase, leading to potential capital gains. Additionally, Discovery’s success may encourage other silver and gold mining companies to improve their operations, potentially leading to increased competition and innovation in the industry.
Impact on the World
The mining industry, and specifically the silver and gold mining sector, plays a crucial role in the global economy. Discovery Silver Corp.’s financial success is a positive sign for the industry as a whole, indicating a strong demand for precious metals. This demand can lead to increased economic activity and job creation, particularly in countries with significant mineral reserves. Additionally, the continuous discovery and development of new mineral reserves can contribute to energy and resource security, as well as technological advancements in mining and extraction processes.
Conclusion
Discovery Silver Corp.’s strong financial performance in Q4 2024 and FY 2024 is a testament to the Company’s successful operations and its commitment to growth. This success not only benefits individual investors but also contributes to the global economy by increasing demand for precious metals and encouraging innovation and competition within the mining industry. As Discovery continues to expand its operations and explore new opportunities, it is poised to make a significant impact on both the industry and the world.
- Discovery Silver Corp. reports Q4 2024 and FY 2024 financial results, with total revenue of $12.5 million and $45.3 million, respectively.
- The Company’s net income for Q4 2024 and FY 2024 was $2.6 million and $7.3 million, respectively.
- Discovery produced 800,000 silver ounces and 2,500 gold ounces in Q4 2024, and a total of 2.8 million silver ounces and 8,500 gold ounces in FY 2024.
- Discovery’s financial success may lead to increased capital gains for individual investors and potential innovation and competition in the mining industry.
- The mining industry’s continued success contributes to economic activity, job creation, and technological advancements.
