Interview with Glenn Jessome, President and CEO of Silver Tiger Metals Inc.
Recording date: November 28, 2025
Silver Tiger Metals offers investors the rare opportunity to benefit from near-term silver production underpinned by exceptional project economics, secured financing, and an experienced development team. The company has achieved a significant milestone by securing the first new mining permit in Mexico since 2020, enabling the development of the El Tigre stockwork deposit in Sonora state, with an 18-24 month construction timeline starting in January 2026.
The project’s pre-feasibility study indicates compelling financial metrics: a post-tax net present value of $750 million, a 92% internal rate of return, capital payback within one year, and projected annual cash flow exceeding $100 million after production begins. These economics reflect current precious metal prices of approximately $31-32 per ounce of silver and $2,700 per ounce of gold, with sensitivity analysis revealing significant upside potential at higher metal prices. At a silver price of $35 and a gold price of $3,000, the annual after-tax cash flow increases to $60 million.
The capital structure of Silver Tiger distinguishes the company from typical mining projects in the development phase. With $60 million in cash against a total capital requirement of $186 million, the company has deliberately avoided the constraints associated with highly leveraged financing structures. Management has secured debt financing options on favorable terms, expected to close in 2025, while maintaining sufficient cash reserves to pursue parallel objectives such as underground mine expansion, regional exploration programs, and early-stage work on satellite deposits.
The execution risk profile benefits significantly from the appointment of Francisco Albelais, a Mexican mining engineer with 25 years of experience in the construction and operation of large-tonnage mines in Sonora. From 2010 to 2023, Francisco built two mines with a capacity of 55,000 tonnes per day for Argonaut Gold and led teams of 400 employees throughout the project lifecycle. He brings established relationships with contractors and access to a 200-person construction team based in Hermosillo, approximately two hours from the site.
Key preparatory work already completed includes the final engineering design scheduled for completion in December 2025, the construction of a 53-kilometer all-weather access road over which mill components can be transported, and the securing of long-term power supply agreements with the Mexican Federal Electricity Regulatory Authority. The company will operate with generators during the 18-month construction period and switch to grid power within two years.
Beyond the initial bulk mining, Silver Tiger will release a preliminary economic assessment in January 2026 for an 800-tonne-per-day underground mine targeting high-grade silver mineralization. The underground resources comprise 113 million ounces of
The broader investment scenario includes significant exploration potential along a 30-kilometer mineralized trend. The current resources of approximately 213 million ounces of silver equivalent (100 million bulk tonnage, 113 million underground) are located within only 2-3 kilometers of the explored area, with independent consultants identifying near-term potential for an additional 73-100 million ounces through infill drilling. Historical mines to the north and south offer district-scale discovery opportunities.
With a current market capitalization of approximately $350 million against a net present value of $750 million for the initial operation alone, Silver Tiger offers investors significant potential for revaluation as construction progresses and production risks decrease.
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