# Copalquin property boosted 55% in Stormlands new study

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/copalquin-property-boosted-55-in-stormlands-new-study--bd8622bc-afbf-4b56-949d-fa5543ea0e19

Original source: https://www.canadianminingjournal.com/news/copalquin-property-boosted-55-in-stormlands-new-study/

Publisher: canadianminingjournal

Original announcement: 2026-09-21T16:32:55.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Mithril Silver and Gold

- Ticker: MSG

- Exchange: Unavailable

- Region: Durango, Mexico

- Primary commodity: Gold

- Secondary commodities: Silver

- Document categories: Economic study, Resource update

- Extracted: 2026-09-21 18:48:58 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Stormlands Mining released an economic model for Mithril Silver and Gold's Copalquin gold-silver project in Mexico, showing a 55% increase in NPV to $613.5 million using higher gold and silver prices. While the model shows an IRR of 92.23%, the document clarifies that this is a sensitivity exercise based on the 2026 MRE and is not a formal Preliminary Economic Assessment \(PEA\).

Reasoning: The document describes a sensitivity model by Stormlands Mining that significantly boosts the project's NPV and IRR using higher metal prices, but explicitly notes it is not a formal PEA.

- Positive factor: Significant NPV increase \(55%\) driven by updated metal price assumptions

- Positive factor: High projected IRR of 92.23%

- Positive factor: Strong EBITDA projections

- Negative factor: Not a formal PEA; lacks full engineering, cost work, and risk analysis

- Negative factor: Economic model is based on a resource estimate rather than a formal study

Facts used in scoring: 2

## Classification and evidence

**PEA Only**

Polarity: neutral

Definition: Only Class 4 / Initial Assessment economics available. Not bankable.

Why it applies: The document explicitly states the model is not a formal preliminary economic assessment \(PEA\).

Evidence · text

> Without a formal preliminary economic assessment \(PEA\) Stormlands’ model instead uses the project’s 2026 MRE

**No Study**

Polarity: negative

Definition: No formal economic study — no engineering basis for the economics quoted.

Why it applies: The economic figures are derived from a modeling exercise applied to an MRE, not a formal engineering study.

Evidence · text

> it does not replace the engineering, cost work and risk analysis required for a full PEA

## Extracted facts

Stored fact records: 0. Some facts used in scoring do not have a stored record.

No stored fact records are available for this extraction.

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.