Guanajuato Silver Company Ltd. · TSXV:GSVR
Guanajuato Silver — Investor Presentation (April 2024)
28 slides from Guanajuato Silver's investor presentation, Apr 11, 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. 13.8% Solar Industrial 49.4% Bullion 26.5% Jewelry 17.3% Silverware 4.8% Photography 2.3% Source: World Silver Survey 2023 – 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: 1.6 GW
1.6 GW 4
Slide 5: Most silver is produced as a by-product
Most silver is produced as a by-product Demand will exceed supply in 2023 for third consecutive year. Supply vs Demand 2023 Forecast Gold Primary 16% Silver 26% Silver Production Copper by Source 25% Metal Other Lead & Zinc 1% 32% 2023 silver demand forecast is 13% higher The silver market is wholly
Slide 6: 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 Metal Mexico 12% Peru China 119Moz KGHM, Poland (42Moz) Peñasquito, Mexico (29Moz) Cu Pb-Zn 200Moz 107Moz Dukat, Russia (18Moz) Ag Antamina,
Slide 7: Mexico's Fastest-Growing Silver Company
Mexico’s Fastest-Growing Silver Company 4 producing silver mines… 7
Slide 8: Optimizing Mine Production
Optimizing Mine Production Successfully advancing the ramp-up across all four producing assets. 8
Slide 9: Guanajuato
Guanajuato Mexico’s premiere mining community. 9
Slide 10: Consolidating the Guanajuato Mining District
Consolidating the Guanajuato Mining District 450-year mining history. 10
Slide 11: The El Cubo Mines Complex
The El Cubo Mines Complex The centerpiece of our hub & spoke mining strategy. 45,000 tonnes/month capacity Current Mineral Resource (December 31, 2022) Tonnes (t) Ag (g/t) Au (g/t) AgEq (g/t) AgEq (oz) M&I 453K 200 2.51 400 5.79M Inferred 1.3M 219 2.84 446 19.8M Silver Equivalent calculated using 1
Slide 12: El Cubo Mill
El Cubo Mill Clean. Dry. Organized. 12
Slide 13: 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 13
Slide 14: Valenciana Mines Complex
Valenciana Mines Complex Cata Mill – 36,000 tonnes/month capacity. 14
Slide 15: Valenciana Mines Complex
Valenciana Mines Complex Currently mining from Los Pozos area. CATA 4.2KM Historical Mineral Resource (July 31, 2021) Tonnes (t) Ag (g/t) Au (g/t) AgEq (g/t) AgEq (oz) M&I 251,666 250 1.76 400 3.2M Inferred 220,760 225 1.95 391 2.7M Metal Prices: USD$20.00/oz silver, and USD$1,650.00/oz gold. Ag eq
Slide 16: San Ignacio
San Ignacio Mineralized material processed at the Cata mill. Primary Access Portal 16
Slide 17: San Ignacio
San Ignacio High-grade silver and gold epithermal vein system Current Mineral Resource (September 21, 2023) Tonnes (t) Ag (g/t) Au (g/t) AgEq (g/t) AgEq (oz) M&I 790,000 123 2.10 300 7.6M Inferred 2,166,000 127 2.27 318 22M Metal prices are set at US$1,850/oz Au and US$22/oz Ag, with 87% recovery fo
Slide 18: Topia Mine
Topia Mine High-grade mine is a consistent multi-decade producer • M&I resource grade of over 1,000 g/t AgEq Historical Mineral Resource (March 31, 2021) Tonnes (t) Ag (g/t) Au (g/t) Pb (%) Zn (%) AgEq (g/t) AgEq (oz) M&I 331,800 609 1.84 4.4 4.5 1,041 11.1M Inferred 274,600 592 1.44 3.35 3.63 932 8
Slide 19: Topia Processing Plant
Topia Processing Plant 7,500 tonnes/month flotation facility. 19
Slide 20: Four Mines & Three Production Facilities
Four Mines & Three Production Facilities Source: Behre Dolbear & Company (USA Inc.) PEA Jan 26, 2023 Source: Apex Geoscience Technical Report San Ignacio Mine – September 21, 2023 Source: Apex Geoscience Technical Report on the Valenciana Mine Complex, Guanajuato, Mexico April 30, 2022 – All resourc
Slide 21: 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 22: Shares Issued & Outstanding
Shares Issued & Outstanding Four-Year Share Performance. El Cubo Topia, VMC and San Ignacio Acquisition Acquisition Common Shares 350 M Financing Warrants 110 M Options Outstanding 20 M Fully Diluted 482 M Current Market Cap C$91 M 22
Slide 23: Current Major Shareholders
Current Major Shareholders All numbers approximate. Fidelity Investments 10.9% Endeavour Silver Corp. 7.9% SILJ 5.5% GSilver Directors & Advisors 4.3% Myrmikan Capital LLC. 3.0% (Director Daniel Oliver) VBS Exchange Pty Ltd. 2.9% SIL 2.2% Eric Sprott 1.9% EMA Garp Fund LP. 1.7% Public Shareholders 5
Slide 24: 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 25: 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 26: 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 27: DISCLAIMER 2/2
DISCLAIMER 2/2 Technical Information For additional details on the Company’s mineral properties please refer to: (i) El Cubo/El Pinguico – the technical report dated June 22, 2023 (effective date December 31, 2022) titled “Preliminary Economic Analysis – El Cubo/El Pinguico Silver Gold Complex Proje
Slide 28: 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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