Quarterly Report · 10-Q
Sunshine Silver Mining & Refining Company
SSMRNYSEEQUITYCurrent
Quarterly Report
Company context
We are the owner and developer of the permitted Sunshine mine (the “Sunshine Mine”) and permitted silver/copper refinery located one mile north of the Sunshine Mine (the “Sunshine Silver/Copper Refinery”), as well as the associated facilities including a tailings storage facility (the “Sunshine Tailings Storage Facility”) and historical antimony refinery grounds (collectively, the “Sunshine Complex”). The Sunshine Mine is a historic, permitted, large-scale past-producing silver mine in the United States, which historically also produced meaningful quantities of antimony, copper and lead. The Sunshine Mine is one of the highest-grade primary silver resources in the world, with an average diluted silver grade of 1,022 grams per tonne of Indicated Mineral Resources and 776 grams per tonne of Inferred Mineral Resources. When production is restarted, we expect the Sunshine Mine will also be one of the largest silver mines in the United States. We have the major permits required to restart mining, milling and refining operations, and we will not require an environmental impact study to initiate restart of such operations. We do not anticipate issues in maintaining our current permitting status or securing the outstanding and ongoing permits required. A summary of relevant permits and their status is included in Table 17-1 of the Sunshine Technical Report Summary. Our current permits will be subject to normal course updates throughout the construction process. Our mining, milling an