Developer · Junior / Minor · Silver · Argentina · South America
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Exploration · 4 projects
Cerro León
Asset · Exploration
Project information
Description
Flagship 100%-owned silver-gold project in the Deseado Massif of Santa Cruz province, Argentina, and the cornerstone of the company's PLUS 150 growth strategy. FY2025 drilling of nearly 30,000 m delivered bonanza-grade intercepts and new discoveries across Marta Norte (36 m at 474 g/t AgEq — the highest silver intercept in the project's history), Karina, Archen, Savary, Kasia, MS Link and Silvia, supporting a district-scale, free-milling, pit-constrained silver-equivalent target. The July 2024 acquisition of the Sierra Blanca project expanded the Cerro León portfolio and consolidated the surrounding vein field. A conceptual JORC Exploration Target has been defined; an updated JORC Mineral Resource Estimate and maiden Scoping Study are targeted for delivery in 2026, so no current mineral resource is yet defined.
Mining metrics
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Joaquin
Asset · Exploration
Project information
Description
100%-owned silver project in Santa Cruz province, Argentina, acquired in October 2024 via the purchase of Minera Joaquin SA from Pan American Silver Corp; the holding also includes the Cerro Puntudo mining properties acquired from Yamana Argentina Servicios SA, together comprising 16 titles totalling about 35,000 hectares. FY2025 step-out drilling redefined the project's scale, confirming a strike length of more than two kilometres at La Negra (intercepts up to 90 m at 144 g/t AgEq) and a second discovery at La Morocha SE (69 m at 163 g/t AgEq), positioning Joaquin as a cornerstone source of shallow, free-milling silver ounces for the PLUS 150 strategy. A historical foreign estimate exists; an updated JORC Mineral Resource Estimate is targeted for 2026, so no current JORC-compliant mineral resource is defined.
Mining metrics
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Pingüino
Asset · Exploration
Project information
Description
Silver-gold project in Santa Cruz province, Argentina, hosting an extensive polymetallic vein field. The company accelerated the final US$1 million acquisition payment in September 2025 — three years ahead of schedule — to consolidate 100% ownership of the project unencumbered by deferred obligations, and the July 2024 Sierra Blanca acquisition brought the Pingüino vein field under a single entity for the first time. The project is being advanced as part of the company's regional exploration pipeline; no current mineral resource is defined.
Mining metrics
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Sierra Blanca
Asset · Exploration
Project information
Description
Silver and gold project in Santa Cruz province, Argentina, acquired 100% on 24 July 2024 from Sierra Blanca SA — formerly an incorporated joint venture between Austral Gold Argentina (a subsidiary of Austral Gold Limited) and Capella Metals Limited. The project comprises the Sierra Blanca silver-gold titles (five mining titles) plus the Cruz del Sur Project (two additional mining titles); its acquisition expanded the flagship Cerro León portfolio and consolidated the surrounding vein field. Early-stage exploration is underway with new structures identified at Silvia; no current mineral resource is defined.
Mining metrics
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Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
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How to read this tab
- The tables below list unit codes most often used in the Precious Metals sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Precious metals
- Resources vs Reserves. Resources are geological estimates that could one day be mined; Reserves are the subset with a feasibility study and plausible positive economics. Measured → Indicated → Inferred describe increasing geological uncertainty; Proven → Probable are reserve labels from Measured/Indicated. Inferred resources are not convertible to reserves under most codes.
- Grade (g/t) is the headline number on gold/silver pages. High-grade is often above 5 g/t; >10 g/t is bonanza territory; below 1 g/t is bulk low-grade. Open-pit cut-offs are typically lower than underground.
- AISC (All-In Sustaining Cost) is direct cash costs + sustaining capex + royalties + corporate overhead + reclamation, per ounce produced. C1 strips sustaining capex and corporate overhead. Both are non-GAAP and defined differently across issuers.
- By-product credits. Polymetallic deposits credit by-product value against the main metal cost; negative AISC after credits does not mean the main metal is sold below cash cost.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Assumptions
- Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.
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