Vizsla Silver (VZLA) 2025 Precious Metals Summit - Beaver Creek summary

Strategic vision and production goals

• Aims to pour first silver in 2027 and become the world's largest single-asset silver primary producer through the Pánuco District in Mexico.

• Seeks to close the valuation gap between developers and producers, targeting a re-rating as it advances toward production.

• Not pursuing a sale; focused on building a multi-asset silver mid-tier company.

• Pánuco project features high grades, 100% ownership, and significant exploration upside.

• 11-year mine life with an average of 9 million ounces of silver equivalent per year as per PEA.

Financial position and project funding

• Secured a $220 million debt facility with Macquarie, complementing $200 million in cash and $30 million in equity.

• Total financing capacity of $450 million versus $224 million CapEx in PEA, indicating strong financial health.

• Low CapEx and industry-leading NPV to CapEx ratio of 5x, with rapid payback expected.

• Sub-$10 ASIC in initial years, supporting robust project economics.

Project development and timeline

• Permitting and feasibility study underway, with feasibility results expected this year.

• Construction planned for 2026, targeting first silver pour by end of 2027.

• Fully permitted, funded 5x5 test mine started at end of 2024 to de-risk initial production.

• Mining permits expected within statutory timeframe, leveraging previously disturbed land for easier approvals.