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El Cubo //

Cubo covers approximately 8,150 hectares in the same district as Bolañitos, six kilometres southeast of the city of Guanajuato. Access is by municipal road and infrastructure includes the state power grid, and local labour, supplies and services in the city of Guanajuato.

Similar to Bolañitos, the El Cubo subdistrict is characterized by multiple low-sulfidation epithermal veins typically thousands of metres long, up to 400 metres deep, and ranging up to 15 metres thick. The El Cubo mine is comprised of four underground mining operations feeding a modernized and expanded, 1,500 tonne-per-day plant, which produces high-grade silvergold concentrates. The mine provides employment for 500 employees and 252 contractors.

In 2018, El Cubo produced 2.6 million oz of silver and 26,616 oz of gold for silver equivalent production of 4.7 million oz (using a 80:1 silver: gold ratio). Silver equivalent production at El Cubo was above guidance for 2018, primarily a result of significantly improved ore grades being mined from the center of the Villalpando-Asuncion orebody and slightly higher throughput and recoveries.

El Cubo 2018 Results

2. 2019 silver equivalents are converted using an 80:1 gold: silver ratio. 2018 silver equivalents have been reinstated from a 75:1 gold: silver ratio to an 80:1 gold: silver ratio.
3. Cash costs per ounce and AISC per ounce are examples of Non-IFRS measures. See disclosure in quarterly MD&A for information on “Non-GAAP” measures found on the company website. Costs are presented in US $, net of by-product credits.
4. All-in sustaining costs (AISC) include mining, processing, direct overhead, corporate G&A, on-site exploration, share-based compensation, reclamation, and sustaining capital net of gold credits.
5. For full details, refer to the complete Reserves and Resources table provided on our website.