• SSV has completed an updated Preliminary Economic Assessment (PEA) on its 100%-owned Cerro Las Minitas (CLM) project in Mexico. CLM is one of the largest undeveloped silver-rich polymetallic projects in the world.  
  • The PEA reported an After Tax-NPV5% of US$501M, and an AT-IRR of 21%, using US$23/oz silver vs the spot price of US$31/oz. SSV is trading at just 12% of the NPV.
  • Compared to the 2022 PEA, NPV increased by 44% due to the inclusion of new resources from a 2023 resource update, and a higher throughput rate, resulting in increased annual production. This was partially offset by the impact of higher CAPEX.