2024-05-30 17:00:00 ET
Speaking to the Investing News Network, Chris Ritchie, president of SilverCrest Metals (TSX: SIL ,NYSEAMERICAN:SILV), shared his thoughts on how inflation continues to impact gold and silver miners, and explained why his company has chosen to hold precious metals on its balance sheet in this environment.
SilverCrest's Las Chispas operation in Mexico went into production about two years ago, and Ritchie said that after paying back all of its debt in seven months the company had to decide what to do with the cash it had coming in.
"Some of the knee-jerk responses were, 'Let's go build a new mine.' And collectively as a team we said, 'Okay, let's slow down. Let's actually see how we performed on this one," he said during the interview.
For further details see:
SilverCrest Metals: Gold, Silver vs. Fiat — We Want "Real Money" on our Balance Sheet