AVM sets up advisory board for Mexican silver assets

Our silver and gold Investment Advance Metals (ASX: AVM) just added two members to an advisory board set up for its assets in Mexico.

AVM has three silver assets in Mexico with a combined ~100M silver ounces in foreign resources across 3 projects:

1. Guadalupe y Calvo (60.6M oz silver equivalent foreign resource estimate)
2. Yoquivo (17.2M Oz silver equivalent foreign resource estimate)
3. Gavilanes (22.4M Oz silver equivalent foreign resource estimate)

Inside the last 3 weeks AVM has:

1. Raised $13M from the likes of Jupiter Asset Management, Tribeca Investment Partners, Lowell Resources Fund & APAC Resources, AND
2. locked in exploration programs for all three projects, aiming to increase the combined resources to >200M ounces of silver equivalent. (we covered that news here).

Now AVM has strengthened its team to lead those exploration programs appointing:

• Douglas Coleman who founded the Mexico Mining Center, co-founded the Discoveries Mining Conference, and previously held senior roles with Appian Capital Advisory, Layne, and Globexplore.

As Head of Mexico at Appian he was responsible for sourcing and executing mining investment opportunities in Mexico… Appian states their team has “collectively brought 60+ mines into production and managed transactions in excess of US$200 billion.” (source)

• Trevor Woolfe who has extensive global experience in exploration and corporate development, including as a director and former VP Exploration & Corporate Development at GR Silver Mining - a $100M+ capped company with silver and gold assets in Mexico.

He founded Shordean Pty Ltd, an independent consultancy specialising in project evaluations across Latin America, Africa, and Australasia.

Both have had experience in Mexico and with three different assets, AVM will need all the help it can get when the exploration programs across the Portfolio get started.

All of this will potentially help AVM be able to fast track toward production as it goes about proving up over 200k ounces of silver equivalent over the coming year.

See why we Invested in AVM from our AVM launch note here: Our New Investment: Advance Metals (ASX: AVM)

Why we are Invested in AVM:

We published our Initiation Note on AVM on 19th September.

Here is a list of the 9 reasons why we Invested in AVM from our Initiation Note.

Check out the full note here for the deep dive on the reasons.

1. AVM has an estimated 100M ounces of silver equivalent resources. We think it can grow from here
2. AVM is undervalued relative to its silver peers on the ASX
3. We think silver could go on a ‘once in a generation’ run to new highs
4. Very few silver stocks on ASX
5. Mexico is a top silver and gold producer (and this is in a mature mining area)
6. Mexican silver projects are misunderstood on the ASX
7. AVM’s most recent acquisition adds scale to AVM’s portfolio
8. Exploration upside (three projects that haven’t been systematically drilled)
9. Victorian gold asset might justify AVM’s current valuation on its own

What’s next for AVM?

Assay results from AVM’s Victorian gold project 🔄

AVM is currently drilling the Victorian gold asset, and we think the next hole could be the most material (if it comes in) for AVM’s current valuation.

Being the deepest hole, it is looking to see if the structure extends ~60-80m below known mineralisation.

IF we see a strong hit here, it could change the way the market values the asset.

(Source)

Sampling of old drillcore at the Yoquivo silver project in Mexico 🔄

We are also looking forward to seeing the sampling results from the untested parts of AVM’s Yoquivo project in Mexico.

The old drilling hadn’t been completely tested in the past so we should see the results from this in the coming weeks (hopefully the gaps in the veins from the image below are also mineralised)

The company has detailed that results from this are due in late October and will be used along with the recent diamond drilling results to update the JORC Resource for the project.

(Source)