Ermitaño (Au, Ag)

Royalty and Terms: 2% NSR royalty on the Ermitaño project and the Cumobabi property
Operator:  Visit First Majestic for more information
Primary Commodity: Gold, Silver
Location: Sonora State, Mexico
Reserves and Resources:
  • Proven and propable reserves of 41.2 Moz AgEq (2.8 Mt @ 459.69 g/t AgEq )
  • Inferred Resources of 39.2 Moz AgEq (3.2 Mt @ 386.01 g/t AgEq)
Attributable Production to Osisko:
  • 2021 : 0 GEOs
  • 2022 : 1,903 GEOs
  • 2023e : 1,870 to 2,087 GEOs

Catalysts:

  • Ramp-up to 100% production from the Ermitano mine in 2023 (2023 production guidance of 7.8-8.7 Moz AgEq)
  • Operational ramp-up of the dual-circuit at the Santa Elena processing plant to increase recoveries
  • Further infill drilling at the Ermitaño vein to convert Inferred Resources to Indicated Resources
  • Property-wide & regional exploration potential; including on adjacent Cumobabi property

More details in the 2023 Asset Handbook

 

 
Ermitaño, page 27
Source: Company disclosure and Osisko management estimates.