Guanajuato Silver Company Ltd. · TSXV:GSVR
Guanajuato Silver — Investor Presentation (April 2024)
24 slides from Guanajuato Silver's investor presentation, Apr 17, 2024
Slide 1: Mexico's Fastest-Growing Silver Producer
Mexico´s Fastest-Growing Silver Producer : GSVR : GSVRF April 2024
Slide 2: The Industrial Case for Silver
The Industrial Case for Silver Photovoltaics will continue to drive industrial demand growth. 2023 Silver Demand 16.2% Solar Industrial 54.7% Bullion 20.3% Jewelry 16.9% Silverware 4.6% Photography 2.3% Source: World Silver Survey 2024 – The Silver Institute 2
Slide 3: Solar park construction is just beginning…
Solar park construction is just beginning… “Our research is from 30,000 feet.” 1.5 GW 1.3 GW 0.8 GW 1.6 GW 3
Slide 4: Most silver is produced as a by-product
Most silver is produced as a by-product Demand will exceed supply in 2024 for fourth consecutive year. Supply vs Demand 2024 Forecast* Gold Primary 16% Silver 26% Silver Production Copper by Source 25% Metal Other Lead & Zinc 1% 32% The silver market is wholly inelastic; higher silver prices will do
Slide 5: Mexico is the world's top silver producer
Mexico is the world’s top silver producer Outside of Mexico, there are very few primary silver mines in the world. 24% 14% World’s Largest Silver Mines Primary Mexico Metal 12% China KGHM, Poland (42Moz) Cu Peru 119Moz Peñasquito, Mexico (29Moz) Pb-Zn 200Moz 107Moz Dukat, Russia (18Moz) Ag Antamina,
Slide 6: Mexico's Fastest-Growing Silver Company
Mexico’s Fastest-Growing Silver Company 4 producing silver mines… 6
Slide 7: Optimizing Mine Production
Optimizing Mine Production Successfully advancing the ramp-up across all four producing assets. 7
Slide 8: Guanajuato
Guanajuato Mexico’s premiere mining community. 8
Slide 9: Consolidating the Guanajuato Mining District
Consolidating the Guanajuato Mining District 450-year mining history. 9
Slide 10: The El Cubo Mines Complex
The El Cubo Mines Complex The centerpiece of our hub & spoke mining strategy. 45,000 tonnes/month capacity Mineral Resources Silver Equivalent calculated using 1 ounce of gold is equal to 80 ounces of silver. Source: Behre Dolbear & Company (USA Inc.) PEA June 26, 2023. See Disclaimer 10
Slide 11: El Cubo Mill
El Cubo Mill Clean. Dry. Organized. 11
Slide 12: El Cubo 3-D View of Principal Veins
El Cubo 3-D View of Principal Veins High grade epithermal mineralization from multiple veins. Mina Santa Cecilia Mina Villalpando 12
Slide 13: Valenciana Mines Complex
Valenciana Mines Complex Cata Mill – 36,000 tonnes/month capacity. AgEq Au eq Au eq Class Tonnes Ag(g/t) Ag(oz) Au(g/t) Au(oz) AgEq (oz) (g/t) (g/t) (oz) Total Measured 166,262 255 1,362,426 1.81 9,681 409 2,185,272 4.81 25,709 Total Indicated 85,404 240 658,767 1.68 4,600 382 1,049,757 4.5 12,350 T
Slide 14: San Ignacio
San Ignacio Mineralized material processed at the Cata mill. Primary Access Portal 14
Slide 15: San Ignacio
San Ignacio High-grade silver and gold epithermal vein system Metal prices are set at US$1,850/oz Au and US$22/oz Ag, with 87% recovery for both. This yields an Au:Ag ratio of 84.1:1 for the calculation of AgEq. Source: Apex Geoscience Mineral Resource Estimate San Ignacio Mine – September 21, 2023.
Slide 16: Topia Mine
Topia Mine High-grade mine is a consistent multi-decade producer • M&I resource grade of over 1,000 g/t AgEq Tonnes (kt) Ag (g/t) Au (g/t) Pb (%) Zn (%) Measured 176.0 630 1.92 4.63 4.80 Indicated 155.8 587 1.75 4.15 4.16 M&I 331.8 609 1.84 4.40 4.50 Inferred 274.6 592 1.44 3.35 3.63 2021 historical
Slide 17: Topia Processing Plant
Topia Processing Plant 7,500 tonnes/month flotation facility. 17
Slide 18: Additional Sources of Mineralized Material
Additional Sources of Mineralized Material El Horcon Mine and 3RD Party Processing Agreements Stockpiled material from the El Horcon mine located approximately 60km north-west of Guanajuato is being processed at the Cata mill. Since mid-November 2023, production from Horcon has generated over 38,000
Slide 19: Shares Issued & Outstanding
Shares Issued & Outstanding Four-Year Share Performance. El Cubo Topia, VMC and San Ignacio Acquisition Acquisition Common Shares 350 M Major Shareholders Warrants 82 M Fidelity Investments 10.9% Options & RSUs 26 M Endeavour Silver 7.9% Fully Diluted 458 M SILJ & SIL 7.7% Current Market Cap C$91 M
Slide 20: The GSilver Leadership Team
The GSilver Leadership Team Directors James Anderson, Chairman & CEO Ramon Davila, Director & President 20+ years of capital market experience as a retail Mining Engineer with 40+ years in Mexico (First broker and investment banker and manager in the Majestic Silver, Pan American Silver, and Industr
Slide 21: Extensive social outreach programs
Extensive social outreach programs Social license to operate built on commitment to improving local communities. Guanajuato Silver proudly provides: • Clean water services provided to several local communities • Established a medical clinic • Committed to a massive reforestation program • Support fo
Slide 22: DISCLAIMER 1/2
DISCLAIMER 1/2 Forward-looking information This document contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, statements regarding the industrial case for silver and future demand for silver; that the Company
Slide 23: DISCLAIMER 2/2
DISCLAIMER 2/2 Valenciana Disclosure The disclosure on this slide is from the technical report dated March 7, 2024 (effective date December 31, 2023) titled “Technical Report on the Valenciana Mine Complex, Guanajuato, Mexico” available on SEDAR+ (the “VMC Report”). On February 28, 2022, Great Panth
Slide 24: Contact
Contact JJ Jennex Director of Communications (604) 723 1433 jjj@gsilver.com Suite 578 – 999 Canada Place, Vancouver, British Columbia, V6C 3E1 : GSVR : GSVR
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