Silver Mines (SVL) 2025 Precious Metals Summit - Beaver Creek summary

Project status and financials

• Confident in regaining planning consent, expected within the year, which could trigger a significant revaluation.

• Raised $34 million post-period, ensuring funding through to the financial investment decision.

• Ended June with $19 million in cash, with a strong correlation to silver price but current share price lagging.

• Project acquired in 2016, with over $100 million invested to date, including substantial land purchases.

Resource and feasibility update

• Fifth largest undeveloped silver project globally, with a 2024 optimized feasibility study completed.

• Targeting completion of the final 30% of DFS by January, positioning as a leading scalable silver project.

• Pre-production capital estimated at $330 million, with potential minor adjustments pending DFS completion.

• All-in sustaining costs projected at $15/oz over a 16.5-year mine life, with potential for further reserve conversion.

Production profile and operational strategy

• Shifted to a bulk concentrate approach, increasing silver recoveries and revenue percentage.

• Production expected to ramp up to 5.5 million ounces by year five, with strategies to flatten output profile.

• Exploration and ore sorting results suggest potential for reserve growth and mine life extension.

• Open pit design allows for low mining costs and significant leverage to rising silver prices.