Preliminary economic assessment
Reported project economics for the 2024 PEA.
- After-tax NPV (5% discount rate)
- 501US$M
- After-tax IRR
- 21.2%
- Initial capex
- 388US$M
- LOM average AISC
- 13.23US$/ozAgEq
Market cap / NPV unavailable: a recent share price, shares outstanding and matching exchange rate are required.
Metal prices the company used in this PEA
- Silver
- $23/oz
- Gold
- $1,850/oz
- Copper
- $4/lb
- Lead
- $1/lb
- Zinc
- $1.25/lb
All prices in US dollars.
Production through the mine life
Payable metal by operating period, including reported ramp-up and partial years.
- Years 1-8 average annual production
- 14.4
- LOM average annual production
- 11.4
- Peak annual output
- 17.97
Moz AgEq / year · reported average
Moz AgEq / year · reported average
Moz AgEq · operating period 6
Source Annual averages: Presentation · PDF page 13 · Sep 1, 2026
AgEq · Moz AgEq per operating period
Operating period
Equivalent metal combines the metals under the study’s price assumptions. It is not additional physical production.
View annual figures
| Operating period | AgEq (Moz AgEq) |
|---|---|
| 1 | 11.959 |
| 2 | 12.806 |
| 3 | 14.729 |
| 4 | 16.133 |
| 5 | 15.471 |
| 6 | 17.965 |
| 7 | 14.646 |
| 8 | 11.682 |
| 9 | 10.658 |
| 10 | 11.209 |
| 11 | 11.521 |
| 12 | 11.231 |
| 13 | 11.017 |
| 14 | 9.201 |
| 15 | 7.362 |
| 16 | 3.839 |
| 17 | 2.765 |
| 18 | 0.137 |
Annual values are payable metal, not produced or recovered metal; AgEq is reported separately from the physical metals, with Year 18 being the partial final operating year.
Source Cerro Las Minitas NI 43-101 Technical Report and PEA (2024) · PDF page 312 · Jun 4, 2024
Mine life & production
- Mine life
- 17+ years
- LOM average annual production
- 11.4 MozAgEq
- Years 1-8 average annual production
- 14.4 MozAgEq
- Nominal throughput
- 5,300 tpd
- Modelled LOM production
- 29.5 Mt
Cash flow, capital & returns
- Average after-tax annual FCF during production years
- 78 US$M
- LOM sustaining capex
- 160 US$M
- Pre-tax NPV (5% discount rate)
- 888 US$M
- Pre-tax IRR
- 30 %
Study assumptions, grades & recoveries
- Average silver head grade
- 104.1 g/t
- Average AgEq head grade
- 256.8 g/t
- Average silver recovery
- 93.3 %
- Modelled LOM gold head grade
- 0.11 g/t Au
- Modelled LOM copper head grade
- 0.19 % Cu
- Modelled LOM lead head grade
- 1.06 % Pb
- Modelled LOM zinc head grade
- 2.41 % Zn
- Average NSR
- 131 $US/t
LOM Ag/Au/Cu/Pb/Zn sales are shown on an AgEq basis using Ag = $23.00/oz, Au = $1850/oz, Cu = $4.00/lb, Pb = $1.00/lb and Zn = $1.25/lb. Average silver recovery is 93.30%. AISC is reported on a co-byproduct basis using AgEq.
Source Presentation · PDF page 13 · Sep 1, 2026
