Silverco Mining (SICO) Mining Forum Americas 2026 summary

Strategic vision and production targets

• Aims to become a 10 million ounce per year silver producer, with rapid ramp-up from two mines in Mexico.

• Production expected to exceed 4 million ounces in 2027, averaging nearly 6 million ounces in subsequent years, peaking above 7 million ounces.

• Both mines, La Negra and Cusi, are in safe, established mining jurisdictions and are being ramped up or restarted.

• Combined after-tax NPV of assets is $450 million, with AISC below $30 per ounce.

• Near-term cash flow is anticipated, with both mines contributing to growth.

Asset development and operational plans

• La Negra mine, acquired in May, is operating at 50% capacity and will be ramped to full production by mid-next year.

• Cusi mine is on a restart plan, with first concentrate shipment expected in Q4 and full production in the first half of next year.

• La Negra requires $21 million in growth capital, mostly funded by operational cash flow, with a quick payback and eight-year mine life.

• Cusi will produce 2.5 million ounces annually over a nine-year mine life, with a $19 million capital requirement, 80% already spent.

• Both mines are undergoing significant drilling programs to expand resources and extend mine life.

Resource base and exploration

• Nearly 100 million ounces in indicated resources at La Negra, with 65% of revenue from silver.

• Cusi features high-grade silver (over 90% at spot price), with ongoing 30,000-meter drill program targeting resource growth.

• Exploration at San Miguel and Promontorio zones at Cusi is converting waste to ore and expanding indicated and inferred resources.

• Targeting over 100 million ounces in measured and indicated resources across both assets by year-end.

• Historic grades at La Negra suggest potential for higher future output as exploration advances.