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: The project is considered fully funded , supported by over US$450 million in cash and a US$300 million convertible senior notes offering closed in late 2025.
: In April 2026 , Vizsla awarded an EPCM contract to M3 Engineering and a mine design contract to Mining Plus . Vizsla Silver guides for a September Panuco pro...
Vizsla Silver reached several critical milestones for its flagship in late 2024 and 2025, transitioning the asset from advanced exploration toward construction readiness. Key Project Milestones (2024–2025) : The project is considered fully funded ,
: In September 2024 , the company finalized a resource estimate that significantly expanded the project's scale, including a 43% increase in measured and indicated resources. Key Project Milestones (2024–2025) : In September 2024
: Published in November 2025 , the FS optimized the project further, projecting: 17.4 million ounces average annual AgEq production. An exceptionally fast 7-month after-tax payback period. An after-tax NPV (5%) of US$1.8 billion and 111% IRR . 2026 Outlook and Construction Readiness
: Initial silver production is currently targeted for the second half of 2027 . Expert Perspectives
: The company anticipates receiving the MIA environmental permit in mid-2026, which is required to make a formal construction decision.
: The project is considered fully funded , supported by over US$450 million in cash and a US$300 million convertible senior notes offering closed in late 2025.
: In April 2026 , Vizsla awarded an EPCM contract to M3 Engineering and a mine design contract to Mining Plus .
Vizsla Silver reached several critical milestones for its flagship in late 2024 and 2025, transitioning the asset from advanced exploration toward construction readiness. Key Project Milestones (2024–2025)
: In September 2024 , the company finalized a resource estimate that significantly expanded the project's scale, including a 43% increase in measured and indicated resources.
: Published in November 2025 , the FS optimized the project further, projecting: 17.4 million ounces average annual AgEq production. An exceptionally fast 7-month after-tax payback period. An after-tax NPV (5%) of US$1.8 billion and 111% IRR . 2026 Outlook and Construction Readiness
: Initial silver production is currently targeted for the second half of 2027 . Expert Perspectives
: The company anticipates receiving the MIA environmental permit in mid-2026, which is required to make a formal construction decision.