# Silver Mining News in Argentina Canonical page: https://atlas-extractions.minestarters.com/news?commodities=silver®ions=argentina Atlas summarizes and classifies mining-industry stories from third-party publishers. Follow each source link for the original reporting. Results: 40 Returned: 10 Coverage: drill results, resource updates, and metallurgy; primary commodity matching; all time unless dates are supplied. Region: Argentina (argentina) Commodity: Silver (silver) Applied filters: {"regions":["argentina"],"commodities":["silver"],"commodity_scope":"primary","document_types":["drill_results","resource_update","metallurgy"],"document_type_match":"any"} Sort: published_at desc Offset: 0; page size: 10 [Next page](https://atlas-extractions.minestarters.com/news.md?commodities=silver®ions=argentina&page=2&page_size=10) ## Argenta Silver Reports Up to 96% Silver Recovery and 14,857 g/t Ag Concentrate from Initial Cleaner Flotation Tests at El Quevar - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/argenta-silver-reports-up-to-96-silver-recovery-and-14-857-g-t-ag-concentrate-fr--b1511c64-440f-4709-bf91-7546423fa2aa) · [Markdown](https://atlas-extractions.minestarters.com/news/argenta-silver-reports-up-to-96-silver-recovery-and-14-857-g-t-ag-concentrate-fr--b1511c64-440f-4709-bf91-7546423fa2aa.md) - Original announcement: 2026-09-21T11:45:31.765Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Argenta Silver Corp. (AGAG) - Original source: [cnw](https://www.newswire.ca/news-releases/argenta-silver-reports-up-to-96-silver-recovery-and-14-857-g-t-ag-concentrate-from-initial-cleaner-flotation-tests-at-el-quevar-824559181.html) - Atlas sentiment: 0.649 - Atlas tags: High Recovery, Mill Route, Bench Scale Only, Multi-Domain Tested Argenta Silver reported successful initial flotation testwork at the El Quevar project in Argentina, achieving silver recoveries of up to 96% and high-grade silver concentrates of 14,857 g/t Ag. The tests used a conventional rougher-cleaner flotation flowsheet on representative variability samples from the Yaxtché deposit. ## Argenta Silver Reports Up to 96% Silver Recovery and 14,857 g/t Ag Concentrate from Initial Cleaner Flotation Tests at El Quevar - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/argenta-silver-reports-up-to-96-silver-recovery-and-14-857-g-t-ag-concentrate-fr--408b87cd-1864-417e-ac12-14ea3dd04bd7) · [Markdown](https://atlas-extractions.minestarters.com/news/argenta-silver-reports-up-to-96-silver-recovery-and-14-857-g-t-ag-concentrate-fr--408b87cd-1864-417e-ac12-14ea3dd04bd7.md) - Original announcement: 2026-09-21T11:30:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Argenta Silver Corp. (AGAG.V) - Original source: [orestocks](https://orestocks.com/company/AGAG.V/press-releases/5369891368851585) - Atlas sentiment: 0.706 - Atlas tags: High Recovery, Mill Route, Bench Scale Only, Multi-Domain Tested, QA/QC Disclosed, No QP/CP Disclosure, Resource Update Argenta Silver Corp. reported strong initial metallurgical test results from its El Quevar project in Salta Province, Argentina, achieving up to 96% silver recovery and concentrate grades of 14,857 g/t Ag from cleaner flotation. The testwork, conducted by Blue Coast Research, demonstrated the amenability of the Yaxtché deposit's mineralization to a conventional flotation flowsheet. The company also provided an updated mineral resource estimate for the Yaxtché deposit, including 45.3 million ounces of indicated silver and 4.1 million ounces of inferred silver. ## Diablillos drilling reveals encouraging near-surface mineralization - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/diablillos-drilling-reveals-encouraging-near-surface-mineralization--afeea691-11e5-44b7-9902-f428655c5f0f) · [Markdown](https://atlas-extractions.minestarters.com/news/diablillos-drilling-reveals-encouraging-near-surface-mineralization--afeea691-11e5-44b7-9902-f428655c5f0f.md) - Original announcement: 2026-09-02T17:16:10.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: AbraSilver Resource (ABRA) - Original source: [canadianminingjournal](https://www.canadianminingjournal.com/news/diablillos-drilling-reveals-encouraging-near-surface-mineralization/) - Atlas sentiment: 0.456 - Atlas tags: AbraSilver, Assay, Diablillos, Drill Results, drilling, Exploration, Mineral Processing, Mining, People, near-surface, Resources/Reserves AbraSilver Resource reported encouraging near-surface silver and gold drill results from five holes at the Cerro Viejo target within the Diablillos project in Argentina. The results, including significant intercepts in holes DDH 26-037 and DDH 26-047, support potential resource growth beyond the project's existing definitive feasibility study. ## AbraSilver Files Definitive Feasibility Study Technical Report & Provides Heap Leach PEA Update - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/abrasilver-files-definitive-feasibility-study-technical-report-provides-heap-lea--be9a61ea-f00c-4a78-abab-e147a657c436) · [Markdown](https://atlas-extractions.minestarters.com/news/abrasilver-files-definitive-feasibility-study-technical-report-provides-heap-lea--be9a61ea-f00c-4a78-abab-e147a657c436.md) - Original announcement: 2026-07-21T11:30:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: AbraSilver Resource Corp. (ABRA) - Original source: [tmx](https://money.tmx.com/en/quote/ABRA/news/7573417094767115/abrasilver-files-definitive-feasibility-study-technical-report-provides-heap-lea) - Atlas sentiment: 0.727 - Atlas tags: DFS Bankable, High IRR, Fast Payback, Heap Leach Route, Single Domain Only AbraSilver has filed its Definitive Feasibility Study (DFS) for the Diablillos project in Argentina, reporting a US$3.0 billion NPV and a 41.9% IRR based on an open-pit operation. Additionally, the company reported encouraging metallurgical testwork results for a potential supplementary heap leach operation, which will be incorporated into an updated PEA and Mineral Resource Estimate later this year. ## AbraSilver Intersects 109 Metres of 221 g/t Silver and 0.72 g/t Gold at Oculto West, Including 14 Metres of 580 g/t Silver - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/abrasilver-intersects-109-metres-of-221-g-t-silver-and-0-72-g-t-gold-at-oculto-w--a9e768b3-a58b-495f-b9e3-c1868f16d977) · [Markdown](https://atlas-extractions.minestarters.com/news/abrasilver-intersects-109-metres-of-221-g-t-silver-and-0-72-g-t-gold-at-oculto-w--a9e768b3-a58b-495f-b9e3-c1868f16d977.md) - Original announcement: 2026-07-13T11:30:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: AbraSilver Resource Corp. (ABRA) - Original source: [tmx](https://money.tmx.com/en/quote/ABRA/news/8679108393936258/abrasilver-intersects-109-metres-of-221-g-t-silver-and-0-72-g-t-gold-at-oculto-w) - Atlas sentiment: 0.632 - Atlas tags: Cut-off Disclosed AbraSilver Resource Corp. announced high-grade silver and gold drill results from its Diablillos project in Argentina, including 109 metres at 221 g/t silver and 0.72 g/t gold. These results extend mineralization in previously undrilled areas and highlight significant exploration upside beyond the current mine plan. The company also provided an updated Mineral Resource Estimate, showing substantial Measured and Indicated resources for both tank and heap leach processes. ## Argenta Silver Intersects 446 g/t Ag over 28.0m, including 1,195 g/t Ag over 6.0m in a 120.0m step out Drill Hole at Yaxtché - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/argenta-silver-intersects-446-g-t-ag-over-28-0m-including-1-195-g-t-ag-over-6-0m--58e3be4a-b4af-4448-8c1e-f287b1383c70) · [Markdown](https://atlas-extractions.minestarters.com/news/argenta-silver-intersects-446-g-t-ag-over-28-0m-including-1-195-g-t-ag-over-6-0m--58e3be4a-b4af-4448-8c1e-f287b1383c70.md) - Original announcement: 2026-07-06T12:00:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Argenta Silver Corp. (AGAG) - Original source: [tmx](https://money.tmx.com/en/quote/AGAG/news/6693749621850393/argenta-silver-intersects-446-g-t-ag-over-28-0m-including-1-195-g-t-ag-over-6-0m) - Atlas sentiment: 0.473 - Atlas tags: None Argenta Silver Corp. reported bonanza-grade silver drill results from its El Quevar Project in Salta Province, Argentina, including 4,870 g/t Ag over 1.0m within a 28.0m interval grading 446 g/t Ag in hole QVD-469. This hole represents a 120m step-out, significantly expanding the known mineralization at the Yaxtché Deposit. The results also indicate a potential connection between the silver-dominant Yaxtché and gold-copper Carmen targets, suggesting a larger district-scale system with strong continuity and expansion potential. ## ARGENTA SILVER REPORTS SURFACE EXPLORATION RESULTS AT EL QUEVAR: HIGH GRADE SILVER AT SURFACE, 20+ TARGETS DEFINED - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/argenta-silver-reports-surface-exploration-results-at-el-quevar-high-grade-silve--eadadfd9-86a8-4ee5-aa5c-330e463e90a4) · [Markdown](https://atlas-extractions.minestarters.com/news/argenta-silver-reports-surface-exploration-results-at-el-quevar-high-grade-silve--eadadfd9-86a8-4ee5-aa5c-330e463e90a4.md) - Original announcement: 2026-06-30T12:00:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Argenta Silver Corp. (AGAG) - Original source: [tmx](https://money.tmx.com/en/quote/AGAG/news/6981419160772504/argenta-silver-reports-surface-exploration-results-at-el-quevar-high-grade-silve) - Atlas sentiment: 0.554 - Atlas tags: QA/QC Disclosed, Step-Out Extension, Nearology Play, NI 43-101 Compliant, QP/CP Signed, Bonanza Intercept, Inferred Resource, Historical Estimate Only, Stale Data Re-release, Apparent Width Only, Cut-off Undisclosed Argenta Silver reported new high-grade silver rock chip samples from the Mani-Copan target at its El Quevar Project, with multiple samples exceeding 100 g/t Ag and peak values up to 1,500 g/t Ag. The company also highlighted historical high-grade drill intercepts from Mani-Copan and Carmen, and noted the expansion of the Yaxtché deposit footprint by 20%. Over 20 new exploration targets have been defined across the project, with metallurgical test work underway and results expected by Q3 2026. ## AbraSilver Receives Final Environmental Approval from Catamarca Authorities for Diablillos - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/abrasilver-receives-final-environmental-approval-from-catamarca-authorities-for--e3c7cb5d-5744-4779-b147-b870c5881cdb) · [Markdown](https://atlas-extractions.minestarters.com/news/abrasilver-receives-final-environmental-approval-from-catamarca-authorities-for--e3c7cb5d-5744-4779-b147-b870c5881cdb.md) - Original announcement: 2026-06-24T21:15:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: AbraSilver Resource Corp. (ABRA) - Original source: [tmx](https://money.tmx.com/en/quote/ABRA/news/4571057024213485/abrasilver-receives-final-environmental-approval-from-catamarca-authorities-for-) - Atlas sentiment: 0.942 - Atlas tags: Permitting Milestone, Fully Permitted AbraSilver has received the final major environmental permit (DIA) from the Catamarca Province for its Diablillos silver-gold project in Argentina. This milestone, combined with previous approvals from Salta Province, makes the project fully permitted and construction-ready. ## AbraSilver's Definitive Feasibility Study Positions Diablillos Among the Premier Undeveloped Silver-Gold Projects Globally with CAD$4.2B After-Tax NPV5% & 42% IRR - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/abrasilver-s-definitive-feasibility-study-positions-diablillos-among-the-premier--395f479d-c8dc-4476-b91a-d1cbbd31eacd) · [Markdown](https://atlas-extractions.minestarters.com/news/abrasilver-s-definitive-feasibility-study-positions-diablillos-among-the-premier--395f479d-c8dc-4476-b91a-d1cbbd31eacd.md) - Original announcement: 2026-06-22T21:15:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: AbraSilver Resource Corp. (ABRA) - Original source: [tmx](https://money.tmx.com/en/quote/ABRA/news/5716627007352047/abrasilver-s-definitive-feasibility-study-positions-diablillos-among-the-premier) - Atlas sentiment: 0.842 - Atlas tags: None AbraSilver Resource Corp. announced the results of a Definitive Feasibility Study (DFS) for its Diablillos silver-gold project, highlighting a robust after-tax NPV5% of CAD$4.2 billion and an IRR of 41.9% with a 1.7-year payback period. The study outlines a 25-year mine life with low All-in Sustaining Cash Costs of $20/oz AgEq, positioning Diablillos as a low-cost producer. The DFS also reports increased Proven and Probable Mineral Reserves of 77.9 Mt, containing 183 Moz Ag and 1.8 Moz Au. ## AbraSilver Announces Filing of Technical Report for Updated Mineral Resource Estimate on the Diablillos Project - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/abrasilver-announces-filing-of-technical-report-for-updated-mineral-resource-est--f24186b9-8ad6-4262-97b8-853a2e7a8b78) · [Markdown](https://atlas-extractions.minestarters.com/news/abrasilver-announces-filing-of-technical-report-for-updated-mineral-resource-est--f24186b9-8ad6-4262-97b8-853a2e7a8b78.md) - Original announcement: 2026-06-19T21:00:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: AbraSilver Resource Corp. (ABRA) - Original source: [tmx](https://money.tmx.com/en/quote/ABRA/news/7746676981882621/abrasilver-announces-filing-of-technical-report-for-updated-mineral-resource-est) - Atlas sentiment: 0.319 - Atlas tags: NI 43-101 Compliant, Resource Update AbraSilver Resource Corp. has filed a NI 43-101 compliant technical report for an updated mineral resource estimate at the Diablillos silver-gold project in Argentina. The Measured and Indicated resource consists of 102.0 Mt at 65 g/t Ag and 0.62 g/t Au, containing approximately 213 Moz of silver and 2.0 Moz of gold. # Atlas tag definitions - **Bonanza Intercept:** Exceptionally high-grade zone, well above the deposit-type norm. - **Metal Equivalent Opaque:** Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent. - **True Width Disclosed:** Actual thickness perpendicular to structure is stated, not just downhole length. - **Apparent Width Only:** Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. - **QA/QC Disclosed:** Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates). - **Compositing Transparent:** Cut-off grade and internal dilution rules are clearly stated for reported intervals. - **No QA/QC Disclosure:** Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. - **Cut-off Undisclosed:** Cut-off grade not disclosed — cannot assess comparability to prior estimates or peers. - **Step-Out Extension:** Mineralization extended beyond the previously known limit. - **Infill Drilling:** Confirmatory drilling to raise resource confidence, not new discovery. - **Stale Data Re-release:** Historical results re-announced with no new assays or reinterpretation — low genuine novelty. - **Deleterious Elements Present:** A source-stated penalty, refractory or recovery concern in the fact's scope. Element detection alone, including measured elements explicitly below penalty thresholds, does not trigger this tag. Respect negation and retain a separately stated concern even when another risk is explicitly absent. - **Refractory Ore:** Complex mineralogy requiring oxidation or other special processing before recovery. - **Nearology Play:** Value premise rests on proximity to a known deposit rather than own results. - **Measured Resource:** Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. - **Indicated Resource:** Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. - **Proven Reserve:** Measured Resource with demonstrated economic viability after applying modifying factors. - **Probable Reserve:** Indicated Resource with demonstrated economic viability after applying modifying factors. - **Inferred Resource:** Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. - **All Inferred:** M&I share below the weak bound — very early stage, no engineering confidence. - **Tonnage Growth:** Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. - **Grade Improvement:** Average resource grade improved vs prior estimate — better deposit economics. - **Contained Metal Growth:** True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. - **Category Upgrade:** Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. - **Tonnage Decline:** Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. - **Grade Decline:** Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. - **Contained Metal Decline:** Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. - **Category Downgrade:** Resource confidence decreased — Measured downgraded to Indicated, or Indicated to Inferred. Unusual and concerning. - **Dilutive Growth:** Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion. - **Cut-off Lowered:** Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. - **Cut-off Undisclosed:** Cut-off grade not disclosed — cannot assess comparability to prior estimates or peers. - **Stale Estimate:** Effective date is >2 years old — data currency concern, may not reflect current geological understanding. - **QP/CP Signed:** Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience. - **Cut-off Disclosed:** Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. - **JORC Compliant:** Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard. - **NI 43-101 Compliant:** Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard. - **Historical Estimate Only:** Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. - **No Contained Metal:** Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. - **No QP/CP Disclosure:** No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. - **Maiden Resource:** First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. - **Resource Update:** Revised estimate for an existing resource — compare to prior to assess progress. - **PEA-Supporting:** Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. - **PFS-Supporting:** Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. - **DFS-Supporting:** Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. - **High Recovery:** Recovery at or above the exceptional band for the commodity and processing route. - **Pilot Scale Complete:** Pilot or demonstration plant testing completed under continuous operation. - **Free Milling:** Simple, clean ore amenable to standard processing without oxidation. - **Multi-Domain Tested:** Variability across ore domains (oxide, transition, fresh) has been addressed. - **Recovery Improving:** Recovery improved versus a like-for-like prior test program on the same domain and route. - **Low Recovery:** Recovery below the weak band for the commodity and processing route. - **Bench Scale Only:** Only preliminary bench tests completed — no locked-cycle or pilot work. - **Refractory Ore:** Complex mineralogy requiring oxidation or other special processing before recovery. - **Single Domain Only:** Testing limited to one composite or domain — representativeness not established. - **Recovery Stagnant:** No improvement across multiple test programs on comparable material. - **Theoretical Recovery Only:** Only theoretical or liberation-derived recovery reported, with no actual test result. - **Heap Leach Route:** Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. - **Mill Route:** Processing via mill or concentrator (CIL, CIP, tank leach, flotation). - **Gravity Route:** Gravity separation forms a material part of the flowsheet. - **POX/BIOX Route:** Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX. - **Byproduct Commodity:** The tested commodity is a byproduct rather than the primary economic driver. - **DFS Bankable:** AACE Class 2-1 study complete and within the staleness window. - **PFS Complete:** AACE Class 3 study complete. - **PEA Only:** Only Class 4 / Initial Assessment economics available. Not bankable. - **No Study:** No formal economic study — no engineering basis for the economics quoted. - **Stale Study:** Beyond the staleness window measured from the estimate base date. - **Inferred Heavy Feed:** Material Inferred share of LOM mill feed, or the share is undisclosed. - **Resource Governance Undisclosed:** No QA/QC, top-cut methodology or QP independence disclosed. Caps study quality at the moderate tier. - **NPV Cut vs Prior Study:** A restated study reduces NPV materially against its own predecessor on the same asset. - **High IRR:** Post-tax real unlevered IRR in the strong tier or better. - **Low IRR:** IRR below the moderate tier. - **Below Jurisdiction Hurdle:** IRR below the greenfield or brownfield hurdle for its jurisdiction tier. - **IRR Basis Undisclosed:** Real vs nominal not stated, so the tier is not comparable across studies. - **Undervalued PNAV:** Funding-adjusted P/NAV in the strong tier or better. - **Overvalued PNAV:** Funding-adjusted P/NAV in the red-flag tier. - **Fast Payback:** Payback in the strong tier or better, on the required basis. - **Slow Payback:** Payback in the weak tier or worse. - **Bottom Quartile Cost:** P0-25 of the relevant commodity cost curve. - **Top Quartile Cost:** P75-100 of the relevant commodity cost curve — first to cut in a downturn. - **Cost Basis Undisclosed:** By-product vs co-product not stated, so quartile placement is unreliable. - **Low Capital Intensity:** Below the benchmark for its project type. - **High Capital Intensity:** Above the benchmark for its project type. - **Conservative Pricing:** Conservative on the worst of the spot, 3-year and consensus comparisons. - **Aggressive Pricing:** The study only works on a stretched price deck. - **No Price Sensitivity:** No price sensitivity disclosed — treated as a deliberate signal, not a neutral gap. - **No Discount Rate Sensitivity:** Blocks NPV normalisation to the common rate without reconstruction. - **Price Deck Unstructured:** Prices given only as free text, so conservatism cannot be scored. - **Long Reserve Life:** Reserve life index in the top tier of the single ladder. - **Short Reserve Life:** Reserve life index in the critical tier. - **Resource Life Upside:** Wide gap between reserve life and resource life — conversion upside rather than discovery dependence. - **Fully Funded:** Funding coverage at or above 1.0x counting committed facilities only. - **Material Funding Gap:** Funding coverage below the substantially-funded band. - **Funding Gap Exceeds Market Cap:** Red flag regardless of headline NPV — the upside is not reachable by the current equity holder. - **Encumbered by Stream:** An existing stream or royalty reduces attributable NAV and restricts future financing. - **Stability Agreement:** Fiscal terms fixed, with a term covering the mine life. - **High Government Take:** Total government take above the regional norm as a share of pre-tax cash flow. - **Fully Permitted:** Key permits granted with no unresolved challenge. - **Permit Challenge Outstanding:** An appeal or legal challenge is unresolved, which can defer first production indefinitely. - **No Community Agreement:** Permits held but no IBA or benefit agreement — the start date is unsupported. - **Closure Underprovisioned:** Closure provision materially below peers, unfunded, or undisclosed. - **Upstream TSF:** Upstream tailings construction, which is banned in Brazil and Ecuador.