Silverco Mining Ltd.

Description

Silverco Mining Ltd. is a Canadian silver producer with two 100%-owned underground mining assets in Mexico, the operating La Negra silver-lead-zinc-copper mine in Queretaro and the permitted, past-producing Cusi silver-lead-zinc-gold complex in Chihuahua.

The investment case combines immediate operating exposure with a funded, relatively low-capital second-mine restart. La Negra is operating at approximately 55% of its 2,500 tpd nameplate capacity, while Cusi is targeted for first concentrate in Q4 2026 and full ramp-up by mid-2027 using its existing 1,200 tpd processing plant.

Cusi’s 2026 PEA outlines an 8.3-year mine life, approximately 2.47Moz average annual AgEq production from 2028–2033, US$26.75/oz AISC, US$19.2M initial capex and US$104.1M after-tax NPV5 with a 94.8% IRR at US$44.58/oz silver. Its resource contains approximately 41.2Moz M&I plus 31.8Moz inferred AgEq. La Negra adds current production, substantial existing processing infrastructure and district-scale exploration optionality.

List of Projects:

Project 1: La Negra Mine, Queretaro, Mexico — 100%-owned producing silver-lead-zinc-copper underground mine with a 2,500 tpd plant. Current utilization is approximately 55%, with filtration, fleet and technical work supporting a targeted H1 2027 move toward nameplate capacity.

Project 2: Cusi Silver Complex, Chihuahua, Mexico — 100%-owned permitted silver-lead-zinc-gold restart project with an existing 1,200 tpd mill. Planned mining areas include Promontorio, San Miguel and Eduwiges, supported by approximately 11,665 ha of exploration ground.

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