Guanajuato Silver Company Ltd V.GSVR

A Letter From James

[ErinBrockovich]

Dear Guanajuato Silver Shareholder, 
 

With the holidays approaching, we are reminded how exciting the world of precious metals investing can be; there is no substitute for silver, and there is no substitute for the emotions released from big moves in the spot prices of silver and gold.  Since late October, the precious metals have been on the rise; we believe this will prove to be a very memorable and long-lived rally.
 
On the 18th of October, I penned an article at the Mining Discovery website that declared, “I believe that you can circle October 11, 2023 on your calendar as the day that a new bull market in the gold price commenced; we are now in the very early days of a new bull-run for precious metals – and it is going to be spectacular.” My reasoning for this call on the market was based on a combination of four primary arguments; anyone who would like to read this article can find it HERE. The jump in the silver price from around $21 to over $25 an ounce within just eight weeks or so, was a massive boon to a junior mining industry that has seen more than its fair share of market downturns. Gold’s move was even more dramatic, and as a precious metals producer, the impact on Guanajuato Silver has been immense.
 
At the same time that we were enjoying higher silver prices, we finished the year by completing a number of operational upgrades designed to improve overall efficiencies across all four of our producing silver assets. At Valenciana, we added infrastructure improvements to allow for the targeting of higher-grade areas of the mine; at El Cubo we are in the final stages of dewatering sections of the mine known to hold high-grade vein mineralization; at San Ignacio production levels are now generating their highest levels since the restart; and at Topia, the transitions to a new business model based on contract mining is demonstrating superior economics. With all of these operational improvements nearly completed, we have every reason to be filled with optimism as we enter 2024.
 
On behalf of the 1300 employees of Guanajuato Silver, I thank you for your continued support, and I hope you have a safe and enjoyable holiday season.

Feliz Navidad y Prspero Ao!

James Anderson
Chairman & CEO
Guanajuato Silver