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Silverco Mining

TSXV:SICOLive AI agent

Silverco Mining is a growing silver producer with two advanced assets in Mexico: La Negra Mine in Querétaro and the 100%-owned Cusi Silver Complex in Chihuahua.

Investor website: https://www.silvercomining.com/

About

Silverco Mining is a growing silver producer with two advanced assets in Mexico: La Negra Mine in Querétaro and the 100%-owned Cusi Silver Complex in Chihuahua. La Negra is an operating underground silver – lead – zinc - copper mine with a 2,500 tonne per day nameplate capacity, currently operating at approximately 55% of nameplate. Cusi is a permitted, past-producing primary silver mine with a 1,200 tonne per day processing facility. A recent PEA outlined a low capital restart plan with production beginning in late H2 2026 and full production reached by the end of H1 2027. Together, these assets support Silverco’s vision of becoming a 10 million silver-equivalent ounce producer in the next 3 years.

Verified company data

Shares outstanding
54.4 M
Fully diluted shares
61.4 M
Mineral resource
The Cusi Silver Complex is a 100%-owned, permitted, past-producing underground silver mine located in the prolific Sierra Madre Occidental belt of Chihuahua, Mexico, a region renowned for hosting significant silver, lead, zinc, and gold deposits. The Complex includes a 1,200 tonne-per-day processing facility, extensive underground infrastructure, and 95 mineral concessions covering 11,665 hectares along the highly prospective San Miguel Vein System. Key highlights include: 120 kilometres west of Chihuahua City, 100% ownership of 95 mineral concessions covering 11,665 hectares, permitted 1,200 tpd processing plant with existing tailings capacity, strong infrastructure, including paved highway access and a 33 kV connection to the national power grid, extensive underground development and mine infrastructure already in place, significant exploration upside along the San Miguel Vein System, positioned for a low-capital restart and rapid return to production. Silverco is currently advancing Cusi toward a planned restart while continuing exploration across the San Miguel Vein System. Ongoing underground drilling continues to intersect high-grade silver mineralization, supporting both near-term mine planning and future resource growth. On April 12, 2026, Silverco released the Cusi Restart Preliminary Economic Assessment (PEA), confirming Cusi as one of the most compelling primary silver restart opportunities globally, supported by low upfront capital requirements, rapid payback, and strong leverage to rising silver prices. The Company is targeting a restart of operations in the second half of 2026, leveraging the site's existing underground development, permitted infrastructure, and 1,200 tonne-per-day processing facility to bring the operation back into production efficiently.
Projects
["### Cusi Mining Complex\n\n**Restart Project**\n\nChihuahua, Mexico\n\nPermitted, past-producing primary silver mine (~90% silver by revenue)\n\n1,200 tpd processing facility\n\nRestart planned for late H2 2026\n\n[Explore Cusi](https://silvercomining.com/projects/cusi-mine-complex/overview/)\n\n### La Negra Mine\n\n**Producing Mine**\n\nQuerétaro, Mexico\n\nOperating underground Ag-Pb-Zn-Cu mine\n\n2,500 tpd processing facility\n\nCurrently operating at ~55% of processing capacity with operational improvements underway\n\n[Explore La Negra](https://silvercomining.com/projects/la-negra-mine/overview/)\n\n### Overview\n\nThe Cusi Silver Complex is a 100%-owned, permitted, past-producing underground silver mine located in the prolific Sierra Madre Occidental belt of Chihuahua, Mexico, a region renowned for hosting significant silver, lead, zinc, and gold deposits.\n\nThe Complex includes a 1,200 tonne-per-day processing facility, extensive underground infrastructure, and 95 mineral concessions covering 11,665 hectares along the highly prospective San Miguel Vein System.\n\n**Key highlights include:**\n\n- 120 kilometres west of Chihuahua City\n- 100% ownership of 95 mineral concessions covering 11,665 hectares\n- Permitted 1,200 tpd processing plant with existing tailings capacity\n- Strong infrastructure, including paved highway access and a 33 kV connection to the national power grid\n- Extensive underground development and mine infrastructure already in place\n- Significant exploration upside along the San Miguel Vein System\n- Positioned for a low-capital restart and rapid return to production\n\nSilverco is currently advancing Cusi toward a planned restart while continuing exploration across the San Miguel Vein System. Ongoing underground drilling continues to intersect high-grade silver mineralization, supporting both near-term mine planning and future resource growth.\n\nOn **April 12, 2026**, Silverco released the **Cusi Restart Preliminary Economic Assessment (PEA)**, confirming Cusi as one of the most compelling primary silver restart opportunities globally, supported by low upfront capital requirements, rapid payback, and strong leverage to rising silver prices. **[Read more about the study here](https://silvercomining.com/projects/cusi-mine-complex/pea-summary/).**\n\nThe Company is targeting a restart of operations in the second half of 2026, leveraging the site's existing underground development, permitted infrastructure, and 1,200 tonne-per-day processing facility to bring the operation back into production efficiently.\n\n![Cusi Mine Location Map](https://silvercomining.com/_resources/SilverCo_Regional_map_SQUARE.jpg)\n\n### Mining and Processing\n\n**Mining**\n\nMining at La Negra has historically been completed using **room-and-pillar and long-hole open stoping** methods.\n\nMining activities under the PEA will initially focus on the **Valeria Zone** within the existing La Negra underground workings.\n\nGround conditions are generally competent, with limited ground support requirements.\n\nThe PEA targets average mining rates, inclusive of waste, of approximately **2,648 tonnes per day** over the life of mine.\n\nThe mine plan benefits from extensive existing underground development, while production is sourced from new mining areas.\n\nA new mining fleet is scheduled to arrive through **Q4 2026 and Q1 2027**.\n\nThe mine plan incorporates stockpiling of lower-grade material and continued mine planning, grade control and dilution management.\n\n**Processing**\n\nThe La Negra processing facility has a **2,500 tonne per day nameplate capacity**.\n\nThe processing facility consists of a standard crushing, grinding, flotation and filtration circuit producing:\n\n- Lead-silver concentrate\n- Copper-silver concentrate\n- Zinc concentrate\n\nCrushing is completed using a primary jaw crusher with secondary and tertiary cone crushers, followed by two parallel ball milling lines for primary grinding with one additional mill for regrind.\n\nThe flotation circuit consists of three stages to recover the different concentrates.\n\nThe processing plant flowsheet has been well established and is little changed over the history of the operation, allowing operating parameters and recoveries to be well understood.\n\n**Metallurgical Recoveries**\n\nThe PEA assumes the following average life-of-mine metallurgical recoveries:\n\n| **Metal** | **Average Recovery** |\n| --- | --- |\n| Silver | **83.6%** |\n| Copper | **77.8%** |\n| Lead | **81.5%** |\n| Zinc | **81.9%** |\n\nScroll right to view more ![Scroll](https://silvercomining.com/_resources/icons/table-overflow-arrow.svg)\n\nMetallurgical recovery assumptions were developed from actual plant performance since restarting in 2024 through Q1 2026.\n\n**Tailings Management**\n\nThe Company is installing a **tailings thickener and filter press to move to filtered (dry-stack) deposition**, targeted for commissioning and ramp-up in **H1 2027**.\n\nFiltered deposition is designed to increase operational flexibility, improve water recovery and reduce the operation's freshwater draw.\n\nThe project will provide additional tailings capacity and support the planned increase to **2,500 tpd**.\n\n**Infrastructure**\n\nThe La Negra operation includes established underground mine infrastructure and an on-site processing facility.\n\nElectrical power is supplied from the national grid through a **34 kV line** to the process plant and mine facilities.\n\n**Royalties**\n\nIn addition to statutory government royalties, the property is subject to two distinct royalties:\n\n- **Peñoles – 2.8%**, subject to certain deductions\n- **Orion – 2.5%**"]
Leadership
Mark Ayranto (President, Chief Executive Officer and Director, An accomplished mining executive with a demonstrated history of success in building and leading high-performing mining organizations. He has deep experience in exploration, mine development, finance, and operations.), Nico Harvey (VP Project Development, A mining engineer with extensive experience in both open pit and underground operations.), Tara Hassan (Executive Vice President, A registered Professional Engineer with 20 years of industry experience encompassing mine operations, project development, and capital markets.), Victoria Avila (Chief Financial Officer, A Chartered Professional Accountant with over a decade of experience as a senior finance executive.), George Paspalas (Advisor, A highly accomplished mining executive with over 40 years of experience in the industry.), Dr. Jesus Velador (Vice President, Exploration, Holds a Doctorate in epithermal deposits and has over 25 years of experience in exploration across various regions.)

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