Argentina: El Quevar, Sarita Este, Desierto
Mexico: Velardeña, Rodeo, Yoquivo, Santa Maria, Flechas
USA: Sand Canyon (Nevada)
1 Resources prepared under SK-1300 guidelines include only Rodeo and Velardeña, as outlined in Mar. 2022 Technical Report Summaries ("TRS"), plus Yoquivo (Feb. 24, 2023 Mineral Resource Estimate; see footnote below).
2 Technical Reports include reports prepared under both U.S. SEC S-K 1300 (TRS reports) and Canadian NI 43-101 (PEA reports) guidelines, as noted below:
Tetra Tech, March 2022. “Velardeña Project Technical Report Summary.” Initial Assessment for the property as defined under U.S. SEC Regulation S-K 1300. Two economic models were prepared for the Project: one includes Inferred Mineral Resources (MII Plan) in the analysis, and the second excludes the Inferred material (MI Plan). The economic model results are based on Mineral Resources that, by definition, are not Mineral Reserves, and do not have demonstrated economic viability. The TRS assumes prices of $1,744/oz gold, $23.70/oz silver, $0.97/pound (“lb”) lead (“Pb”) and $1.15/lb zinc (“Zn”). Mineral resources were calculated having an effective date of February 28, 2022, as diluted to a minimum of 0.7 meters and are reported at a $175 NSR cutoff. NPV calculated using an 8% discount rate.
Mine Technical Services, Ltd., February 24, 2023. “NI 43-101 Technical Report on Mineral Resource Estimate”. Mineral Resources have been classified using the 2014 CIM Definition Standards. Mineral Resources assume a traditional underground cut-and-fill mining method; a silver price of US $24/oz, a gold price of US $1,840/oz, a minimum mining width of 1 m; assumed silver and gold metallurgical recovery of 85%; an average mining cost of US $75/t mined; average processing and general and administrative cost of US $50/t processed; transportation and selling cost of US $0.95/oz Ag and US $15/oz Au; and a gold and silver royalty of 2%.
• PEA: Wood Group. NI 43-101 Technical Report on PEA. Sept. 4, 2018. NPV calculated using a 5% discount rate.
• Resource: Amec Foster Wheeler E&C Services Inc. a Wood Group PLC company. NI 43-101 Technical Report on Updated Mineral Resource Estimate. Feb. 26, 2018.
• PEA: Tetra Tech. NI 43-101 Technical Report & Updated PEA. Sept. 14, 2018. NPV calculated using 5% discount rate.
1 Key Employee Long Term Incentive Plan
2 As of December 31, 2022.
All figures rounded to the nearest million except cash. Numbers may not sum due to rounding.