Glenn Jessome, President and CEO of Silver Tiger Metals (TSX.V:SLVR) (OTCQX:SLVTF), joins us today to provide an overview of the current state of #development and highlight a major company milestone. The March 18 press release stated that the Silver Tiger Metals Board of Directors has approved the construction decision for the open-pit mine; commissioning and the first gold and silver pour are scheduled for December 2027 at the El Tigre project in Sonora, Mexico. We also take a look at the work already completed, the tasks still ahead, and the exploration program around the historic North Tigre mine, which is set to begin next month.
We begin with a brief reminder of why the company chose the recent financing, which closed on February 18, instead of utilizing a much larger credit package with restrictive covenants. This appears to have been the right decision to bolster the company’s strong financial position, especially given the market volatility we have observed across the precious metals sector since then.
Silver Tiger has more than US$86 million (or approx. C$120 million) in cash to carry out immediate development initiatives.
The company is also nearing the completion of a debt financing package, with framework agreements already in place and negotiations narrowed down to selected providers to provide flexible, non-dilutive capital options to support combined surface and underground development at El Tigre.
Silver Tiger has just announced that it has entered into an Engineering, Procurement, and Construction Management (“EPCM”) contract with Kappes, Cassidy & Associates (“KCA”) to support the construction of the mine and processing plant at El Tigre. The company has also now hired its own experienced mine construction management team to work with KCA and KCN.
To date, significant development progress has already been made, including:
- Basic engineering for the mine was prepared by KCA and is 90% complete
- Design for the heap leach and the mine’s waste rock facility has been completed by WSP
- Site clearing for mine construction has begun, including flora and fauna rescue
- The personnel camp for the mine and the construction offices have been designed and are currently in the bidding process
Planning for the improvement of the 46 km road from Colonia Morelos to El Tigre, built by the company in 2023 and 2024, is complete, and the contract to perform the road improvements is currently in the bidding process
The company is nearing completion of its ongoing metallurgical and geotechnical drilling program in the Stockwork Zone; this program is expected to be completed within the next 30 days. Upon completion, the company will immediately transition to exploration drilling targeting the promising vein systems north of the main El Tigre area near the historic North Tigre mine. This priority zone is directly related to the El Tigre North mine concept outlined in Section 24 of the company’s recently filed Preliminary Economic Assessment (PEA dated January 20, 2026). *
If you have further questions for Glenn regarding Silver Tiger Metals, please email them to me at Shad@kereport.com.
Full disclosure: Shad is a shareholder of Silver Tiger Metals at the time of this recording and may choose to buy or sell shares at any time.
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