Sinda (SIND) Registration filing summary

Company overview and business model

• Holds exploration and exploitation rights on five contiguous mining concessions in Mexico's Guanajuato silver belt, covering a large-scale, high-grade silver-gold greenfield discovery.

• The Sinda Property is positioned as a rare, primary silver asset with potential to become a globally significant underground mining operation.

• The project is located near major infrastructure and labor pools, supporting efficient exploration and future development.

• Business strategy focuses on phased development, infill drilling, and expanding mineral resources while maintaining strong community engagement.

Financial performance and metrics

• Reported net losses of $18.7 million in 2025 and $11.6 million for Q1 2026, reflecting ongoing exploration and administrative expenses.

• Cash and cash equivalents were $18.1 million as of March 31, 2026, with working capital of $12.1 million.

• Raised $213 million in gross proceeds from the IPO and $95.3 million from a concurrent placement with Fresnillo.

• No revenues to date; operations are funded by equity and related-party loans.

Use of proceeds and capital allocation

• Proceeds from the IPO and concurrent placement are allocated to surface and underground exploration, infill drilling, technical studies, and permitting.

• Planned capital expenditures include $59 million for surface drilling and $98 million for underground decline development over the next two years.

• Additional funds will be required for future construction and development activities.