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They’re Uncovering a District of Gold and Silver | John Skeet - Mithril Silver and Gold

The Deep Dive Oct 6, 2026 5:03

Summary

Mithril Silver and Gold's Copalquin district in Mexico now hosts over 600,000 gold-equivalent ounces, roughly 75% of it in the indicated category.

A PEA (Preliminary Economic Assessment — an early-stage mine study) is underway on target one, with metallurgy done and the practical mine plan as the key open question.

Management is targeting a sub-$1,000 per gold-equivalent-ounce producer making 50-70,000 ounces annually with a $350-400 million after-tax NPV — figures that remain targets, not study results.

Two drills are turning on a more silver-rich neighbouring target within the fully funded 25,000-metre program, with drill news flow expected before year-end.

The guest argues security risk in Durango State is managed through community ties — 80 locally employed people and eight years without a security incident.

Steve Hyland's takeaways

  • Top takeaway As host, Steve Hyland presses the CEO on operational scale for the in-progress scoping study and on security risk in Mexico, surfacing the company's production and valuation targets.
  • He frames the stock for watchlist investors, asking what to look for over the next 12 months, which draws out the PEA results and drill news flow expected by year-end 2026.