We are expecting AUMN to commence commercial production at Velardeña (a silver-gold-lead-zinc mine in Mexico) in the coming weeks. A recently completed PEA returned an AT-NPV8% of $88M, using $1,826/oz gold, and $23/oz silver. AUMN is trading at just 4% of the AT-NPV8%.

As we expected, production at Rodeo (a gold-silver mine located 80 km west of Velardeña) ended in September 2023.