Project 21 statements
The deposit 15
Key takeaway. Management describes Mineros as a polymetallic asset and reports that it holds about 8 million ounces of gold in resources, having added 30 million ounces to its producing platform from two recent transactions.
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The company cites 227,000 ounces gold equivalent (February 2026), 70,000 ounces gold equivalent (May 2026), and 61,000 ounces gold equivalent in Q1 (May 2026) as resource figures, as well as an extra million ounces in resources (February 2026). On the production side, management says Nicaragua produces 140,000 to 150,000 ounces (May 2026) and Colombia approximately 90,000 ounces (May 2026), and notes a 12-year mine life (February 2026).
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Jurisdiction 3
Key takeaway. Speaking in May 2026, management at Mineros noted the company operates in Nicaragua, Colombia and Chile.
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In that same month, the company reported that in Nicaragua it has a three-party community agreement involving the Bonanza Mining Partnership and local governments, under which mineral purchases are set at 40–50% of spot. An earlier statement from February 2026 also referenced operations in those three same countries.
Technical risk 3
Key takeaway. Management reports improvements in recovery rates at its operations.
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At the company's Colombia operations, the recovery rate went from 84% to 87%. Across the broader portfolio, gold recovery increased from 87% to 90%, while silver recovery rose from 30% to 76%, contributing to a 109% increase in silver production. The company noted that gold recoveries are going from 87% to beyond 90%.
Economics 22 statements
Economics 16
Key takeaway. Management reported strong project economics in May 2026, citing a 38% IRR, $460 million NPV, all-in sustaining costs of about $1,300, and $200 capex.
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The company also noted that Q1 2026 revenues were about $300 million with adjusted EBITDA of $154 million, and that all-in sustaining costs and cash costs ended up below the lower end of guidance.
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Financing 6
Key takeaway. Speaking in May 2026, management of Mineros reported a cash position of more than $200 million in cash and bullion in Q1 2026, or almost $220 million in cash and gold-backed assets.
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The company noted it had returned about $150 million, or $145 million, to investors over the last five years through dividends and buybacks (these two figures come from different interviews, per the quotes). Additionally, $30 million in dividends was approved for this year, and an $80 million buyback program has been authorized.
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Timeline 14 statements
Timeline 12
Key takeaway. Mineros management, speaking in February and May 2026, outlined an aggressive timeline for the year.
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They reported that processing capacity had already risen from 1,800 to around 2,000 tonnes per day in the first month, with a target of 2,500 tonnes per day by year-end. In May, management noted that major environmental permits had been received two to three weeks earlier, with only forestry permits still pending, and reiterated the capacity expansion target. The company reported record Q1 production of 61,000 gold equivalent ounces, with full-year 2026 guidance of 230,000 ounces, and a long-term target of 500,000 ounces by 2030.
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Catalysts 2
Key takeaway. Management says the near-term catalyst for Mineros is a construction decision on the Porvenir project in the near future, with May 2026 flagged as a target.
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The company also reports a goal of becoming a 500,000-ounce gold producer by 2030.
Corporate 6 statements
Management 2
Key takeaway. Management notes that Mineros is a 50-plus-year-old mining company with two assets that have been in production for over a century.
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The company went public on the TSX around the pandemic in May 2026, according to the same May 2026 commentary.
Market 3
Key takeaway. Regarding Mineros' market position, management notes the company is trading at about 2 times revenues and about 4 times EBITDA as of February 2026.
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The company also points to potential acquirers that have acquired assets in Chile's Maricunga gold district and in Colombia with 24 million ounces as of May 2026.
Outside views 1 mention
1 mention by people who do not speak for the company. These are their views, not the company's.
Sources 3 interviews
Every interview 3
| Date | Channel | Interview | Statements |
|---|---|---|---|
| 27 May 2026 | Rule Investment Media | Daniel Henao, President & CEO of Mineros S.A. | Rule Symposium 2026: Rick Rule interviews | 20 |
| 12 May 2026 | Crux Investor | Mineros S.A. (TSX:MSA) - 'Undervalued?' Investment Series, with Daniel Henao | 30 |
| 27 Feb 2026 | Crux Investor | Mineros SA (TSX:MSA) - Record $800M Revenue in 2025 Sets Up 2026 Nicaragua Growth Surge | 13 |
What else those interviews covered
Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.
Questions people ask
What is Mineros's project and where is it?
Mineros is a producer gold company, with a project stated to be in Colombia. Everything here is drawn from its executives' own interviews.
Which interviews mention Mineros?
We track 3 interviews mentioning Mineros, across 2 channels (Crux Investor, Rule Investment Media).
What are investors saying about Mineros?
1 independent voice — people who do not speak for the company — are on record discussing it (1 neutral). Their reasoning is quoted in the outside-view section above.
What do recent interviews with Mineros cover?
The most-discussed topics on record are economics, the deposit, timeline, financing — each claim quoted and dated in the sections above.