Sierra Madre Gold and Silver: Restart of Silver-Gold Mine Ahead of Schedule

Sierra Madre Gold and Silver is making great progress in restarting the La Guitarra silver-gold mine. The company has received a $5 million loan from First Majestic and has already placed orders for the missing equipment. The mine is fully permitted and is on track for commercial production in the first quarter of 2025, with expected operating costs (AISC) expected to be well below $20 per ounce of silver and the potential for annual production of 1-1.5 million ounces. The company has a large land position and plans to resume exploration next year. The community is supportive of the company and analysts are very comfortable with price targets of CAD 1.75.

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