SMI’s turnover at the end of March 2022 amounted to 217 MDH, up +84% compared to the same period of the past year.
This positive development is explained by:
• The improvement of Silver production by +28% under the combined effects of (the improvement in production from the underground and the entry into production of the quarry.
• The increase in the average sale price of +33%.
• The appreciation of the USD/MAD exchange parity of +6%.
Investments made during the first quarter of 2022 amount to 55 MDH, allocated mainly to research and mining infrastructure work.
Net debt stood at -9 MDH against -91 MDH at the end of 2021, down 82 MDH compared to the end of 2021.
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