Discovery Silver (TSX: DSV; OTCQX: DSVSF) President & CEO Tony Makuch joins Kitco Mining at the 2025 NBC Capital Markets CEO Mining Conference to break down Discovery’s dramatic transformation. The acquisition of Newmont’s Porcupine complex has turned the company from a silver developer into a cash-flowing, Ontario-based gold producer with major growth potential. Makuch says the deal “unlocks a lot of potential,” describing Porcupine as a platform for long-term growth.

Makuch confirms the company generated free cash flow in both Q2 and Q3 and outlines a multiyear plan to double production at Porcupine. Work continues in parallel at Cordero in Mexico, where technical studies and permitting remain on track. “We’re not sitting on our hands,” he says, stressing that Discovery is prioritizing growth over dividends or buybacks while the company builds toward its full potential.

In this interview, Tony Makuch also discusses:
• How Discovery plans to double Porcupine production and expand mill capacity
• The four-pillar value model: operations, reinvestment, new mines, exploration
• Dome and TVZ as major catalysts within a 15-million-ounce resource base
• Progress on Cordero permitting and updated engineering work
• Financing options for Cordero and long-term capital strategy
• Positioning the company for growth in a $4,000 gold, $50 silver environment

Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels for more coverage from the 2025 NBC Capital Markets CEO Mining Conference.

Special thanks to our sponsor, Agnico Eagle, for making this coverage possible. Visit https://agnicoeagle.com/ to learn more.

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Discovery Silver Targets Mill Expansion From 4.5M to 9M Tonnes

Kitco MINING

Discovery Silver Targets Mill Expansion From 4.5M to 9M Tonnes