From GlobeNewswire: 2024-05-14 19:44:00

Discovery Silver Corp announced financial results for Q1 2024, highlighted by the Feasibility Study for the Cordero silver project in Mexico. The project is positioned as one of the world’s largest silver developments, averaging 37 million silver equivalent ounces annually with low costs. With silver prices up 20% to over $28 per ounce, the Project’s after-tax NPV5% increases significantly. The Company aims to de-risk Cordero, advance permitting, and engage with local communities in 2024. The Feasibility Study showcases a 19-year mine life with average annual production of 33 Moz AgEq and attractive all-in costs. The project represents a substantial investment in Mexico, with benefits including job creation, goods and services purchases, and tax revenue. The Company reached a land access agreement and continues to work towards project completion. Spot silver prices have risen close to 20% in 2024, reflecting strong demand from industries like electric vehicles and green energy. Discovery Silver Corp’s financial data for Q1 2024 shows a net loss of $680,805 and total comprehensive income of $1,118,080 with total assets of $147,418,451 as of March 31, 2024. The Cordero project has the potential to become a large-scale, long-life project with attractive economic returns. Key personnel, including CEO Tony Makuch, emphasize the benefits of the project in terms of economic returns, community involvement, and environmental sustainability.



Read more at GlobeNewswire:: Discovery Reports First Quarter 2024 Financial Results