Joaquin Marias

Argenta Silver is a pure silver play in northern Argentina, giving full leverage to silver without lead/zinc/gold dilution. Its El Quevar project is the third-largest undeveloped silver asset in Argentina, with about 50 million ounces of high-grade silver resource (90% indicated), extensive existing infrastructure (roads, railroad, gas pipeline, camp) that avoids hundreds of millions of development capex, and only about 1-3% of the 57,000-hectare property thoroughly explored. Management has C$24 million in treasury after a C$15 million bought deal plus C$2.5 million pro-rata from largest shareholder Eduardo Stein, long-term billionaire backers Frank Giustra and Eduardo Stein, and plans 12,000-15,000 meters of drilling in the 2025-26 season to expand resources and explore new targets, targeting at least 25% resource growth and eventually 250 million ounces.

Marias argues that silver faces a large structural supply-demand deficit, saying the industry would need to mine at least five El Quevar-sized deposits per year to fill the gap; he views this deficit as one of the most important drivers of silver prices, which are already at a 13-year high near $40/oz.