45M Ounces of Silver in Argentina, But Can the Concentrate Be Sold? | Argenta Silver CEO Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today, we're going to CEO BBQ advanced stage silver exploration in the high Andes of Argentina, together with Argenta Silver.
But if you're short on time, subscribe to our free newsletter, and once a week, we'll send you a five-minute summary of all interviews we put out, resourcetalks.com for a free weekly newsletter. Now, although this company has not paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general, and impersonal piece of information intended only for those who know and understand the risks of junior mining, of which there are many. Before moving on, read the company's official filings on Sitterplus.ca and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases and do not consume this content if you don't agree with everything said therein. Moving on, Argenta Silver's main asset is the El Quevar project located 300 kilometers north west of the city of Salta in Argentina. The main deposit there is a high sulfidation epithermal silver system that according to a 2024 NI 43 101 technical report carries an indicated resource of 45.3 million ounces of silver at a relatively high grade. So it's 482 grams per ton. Plus there's an additional about 4 million ounces of inferred at 417 grams per ton.
Right now, they're running a two rig diamond drill program that was upsized to 25,000 meters in early 2026 And it's focused both on step out around the existing resource and testing new target, the new targets that they have across the broader land package, while also starting fresh met work on the recent core, all of which, of course, will be asking and talking about later on in the conversation. The most expected catalysts are continued assay results from the current drilling through the next few months, as well as that data from the ongoing metallurgical program. Met work is going to be very well, it's always important, but it's going to be very important here.
So both of these things we're going to be talking about later on. Both of these things could also feed into a resource update and the first economic assessment work in the early part of 2027, the more specific timeline for which will hopefully become clear later on in the conversation. Now for some of the numbers and a bit of the details here, Argentina is listed as AGAG Silver on the TSX-V in Canada, where the average daily volume over the last three months has been about a half a million units. The 52-week high is $1.18 and a 52-week low is $0.32.
With a little under 130 million shares outstanding and a $290 million market cap, today this is a 45-cent stock with a 50 and a 200-day moving average at 54 and 71 cents respectively, so the stock is now trading below those two. They're just under 28.5 million warrants and 22 million options together, representing about 15% of the fully diluted 341 million shares, and I'm rounding up there. The last time they closed the financing was January 2022 They raised $23 million through a bot deal life private placement at 80 cents per share. There was no warrants on there besides the broker warrants that help with the financing. How much money have they got right now? How much money are they going to have at the end of the drill program? How much money are they going to need to actually get to that resource, hopefully early next year? And will they be back to the market anytime soon? Or of course, all questions we'll be asking later on in the conversation. But for this to actually become a conversation though, I'm going to have to shut up unfortunately and Joaquin, I'll give you the word. But first of all, thank you for sitting down with us today.

**Joaquin Marias** (3:53)
Thanks to you guys. It's a pleasure to be here with you. And I'm glad to go through this long hour that we have ahead talking about the project and clearing out some questions that you might have also been picking up from what it's out there in the market, right?

**Antonio** (4:11)
Yeah, well, I know that when you say it's a pleasure to be here with you, you only mean with me and not the two of us because you couldn't feel any pleasure being a Christian anyway, but I'll let him kick it off, though.