Arturo Préstamo

we expect actually we have already a new area producing at Caballo Blanco which which is the the Esperanza the Esperanza mine and and that will contribute for another 30,000 tons I mean of of concentrate from from that

we're going to increase around 5 7% uh our production from efficiencies from um um tonage throughput

So, that mine will give you around 1 million ounces, 1.2 million ounces of silver equivalent on a on a on a quarterly basis.

We produce close to 8 million ounces of silver uh pure silver on a yearly basis plus a significant amount of zinc as well.

We have four producing mines producing silver and zinc here.

we're not investing much uh into that property into that project, but we just want to sustain and of course keep it profitable as it is today

In Mexico, we're increasing production because we are mining at level 960. So, we're increasing tonach throughput and we're increasing head rates

you'll start seeing as well the oiling sustained catch cost coming down at Simapan because we were investing a lot of capex

Well, we closed the year with around revenues for north of $300 million, $326 million to be.

because 85% of your cost are in Bolivianos.

we were investing a lot of capex into the mine and into the milling facility to get where we are today

those cells uh yeah they were an investment for around $2.5 million but they are going to give us around $5 million a month

We end up with u with an evid of 100 uh $100 million uh cash flows

And and an EBITDA north of $100 million, $104 million.

well, if we see the company under enterprise value and um and silver equivalent production today, you will see that we're around $45 per ounce

and catch of hand on hand uh uh close to $70 million

Um And it was definitely a good year for us and a year that has clearly set the path for this 2026. We have very good uh and very strong plans for the year. >> Well, like obviously revenue of 15% year-on-year and an EBITDA as well. Um what are the kind of sort of operational drivers for that? Was it mainly price or was it also what you were doing on the ground? Definitely definitely price was a driver, but efficiencies in the ground was another very important reason why our margins improve as well and our production has been improving. We have been dewatering the Bolivar mine as you know and on our last interview we saw that we discussed that our Bolivar mine experienced some water some floodings at two of its most important veins. So, we've been working in dewatering these two veins and the progress is going out as planned. So, Q4 shows actually an increase of 34% of silver production by Bolivar. And Q1 will be showing again a growth in in its production and increasing its production

we closed the year with close to $80 million in our treasury.

we also have u today on our treasury north of $60 million.

our budget for this year's $110 $120 million every day with a free cash flow of $80 $90 million for the year.

your San Lucas subsidiary has now issued a third promissory note for around$10 million US give or take

As you point out I mean last year we paid Glencore out we paid them around 40 million dollars and uh and even though we did those pay

they were an investment for around $2.5 million but they are going to give us around $5 million a month

No. No need for that, Steve. I mean, just uh just to give you an idea, I mean, this year we have paid $27 million on on taxes.

NASDAQ was this uh yeah January 21st. It was a great uh great um idea, great um strategy.

We're uh important investors in the company. So we were careful cautious on that on that approach and we rather focus on on making our minds more efficient and try to generate as much cash flow as possible.

it's important to have in mind that we amortize one of them in Q1

We paid out Glenor. So technically the company's free of debt other than a few revolving facilities

We have no debt, no streamings, no royalties.

You'll see Q1 uh well you already saw Q1 increase in prod production when compared to Q4 last year

we'll be fully in compliance all of our minds with the technical report and that will allow us to give a a guidance but uh just roughly um mentioning I mean we'll we'll be producing around 10% uh more than last year

by the end of Q3 you'll have the mine at full um production and full capacity

graduating the company to the big board on on the Toronto Stock Exchange that should be uh relatively soon in the next coming weeks or uh no later than uh before this uh June

we're going to be back on track uh as we said um earlier uh by the end of Q3 this year and that mine will be uh very robust

So, Q4 shows actually an increase of 34% of silver production by Bolivar.

and um and that mine by Q4 should start producing small quantities around 200 250 tons per day but that will be in preparation for its its full production by 2027.

But we expect around 10% increase in our production and for the year.

You talked about a Q426. Q426 we should have that the Bolivar mine back on track as as it's budgeted.

We're about to declare commercial production into that mine uh into the Esparansa mine.

Uh we expect all permits to be on hand by August this year uh and before summer um ends before summer ends

we expect to have all permits in hand by this summer and by September by Q4 we should start production at Sorakay.

and that mine by Q4 should start producing small quantities around 200 250 tons per day but that will be in preparation for its its full production by 2027.

we'll we'll be producing around 10% uh more than last year. we'll have a 10% increase in our in our production overall

We're a multi-asset multi-metal producer, mainly silver, across Mexico and Bolivia.

We're a multi- uh jurisdiction uh multimeta producer in Latin America uh working in Bolivia and in Mexico.

all the Bolivian assets that we acquired uh back in March 2022.

St. Lucas, what it does, it buys or from small miners across Orurudo and Potoi

we're increasing production both in Mexico and in Bolivia

As you point out I mean last year we paid Glencore out we paid them around 40 million dollars

What it actually did uh it brought production like 50,000 oz on average, 50,000 oz of pure silver down on a monthly basis.

So, it was more than half a million ounces, close to 660 million ounces of pure silver that we didn't produce in 2026.

Were the watering bolivar mine which was um as you might recall experiencing some water problems over the last uh months

we have a excess water. I mean two of the main veins were flooded but the progress of the watering

we added a flat cell circuit which is improving our silver recoveries by by around 500 basis points

The company now operates from a position of a accumulating retained uh gains.

we came public in uh in June uh sorry, in January uh 21st on NASDAQ

we have plans to grow organically very soon we will announce some uh ideas some initiatives in that line