AbraSilver’s President and CEO, John Miniotis joins GoldSeek TV in Zurich to talk about the company’s plans to progress the huge silver-gold project in Argentina towards a production decision.
AbraSilver's Diablillos project is uniquely positioned to become a leading gold and silver producer in the future. It is a large-scale project already, over 250 million Silver equivalent ounces and growing with additional discoveries.
The Diablillos project continues to grow as the company is currently undergoing a 20,000 meter exploration program which is stepping out the drilling and encountering new high grade hits as well.
It is a large resource already and in March of this year (2024) the company released a pre-feasibility study and it shows that over the first five-years, the project could be producing over 18 million ounces a year with cash cost over the life of mine of $12.50 an ounce Silver equivalent.
John Miniotis gives a breakdown of the project's gold-silver deposits and what attracted a large C$20M strategic investment into the company by Kinross Gold and Central Puerto. We get a more detailed overview of the project and discoveries that have, and still might, occur including copper.
John also gives us some key insights into the economic changes taking place in Argentina including a new plan for favorable tax-treatment for large, $200+ million in size, investments into the country (25% from 35%). There will be no more export duties, which were very high including 8% for gold and 4.5% for silver. This means that in the mine plan, the $180 million allocated to export duties can now be removed. There will be a reduction in the $500M+ in taxes, which will come down significantly, and very importantly no more capital controls/forex restrictions.
AbraSilver is looking to have the project ready for a construction decision in 2026, so the recent changes in Argentina will look quite favorable in the updated plans.
Please note, employees at GoldSeek are long-term shareholders in ArbraSilver and the company.
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Founder and President of GoldSeek.com
