Company Overview - Unico Silver (ASX:USL) aims to become a globally significant silver development company with over 300 million ounces of silver equivalent resources[14] - The company completed a $25 million placement to accelerate the development of its silver projects in Argentina[1, 12] - As of June 30, 2025, the company had $12.5 million in cash, excluding the proceeds from the $25 million placement[12] - The pro-forma market capitalization of the company is $177 million (AUD)[12] Resource Base and Exploration - The company has a large resource base of 160 million ounces of silver equivalent (AgEq) Indicated and Inferred resources, including 105 million ounces of silver and 407,000 ounces of gold[21, 22] - The company plans an aggressive drill program of 30,000 meters[21] - The company is targeting an exploration roadmap to over 150 million ounces of pit-constrained free-milling oxide silver mineralization[37] - The PLUS 150 Exploration Target estimates approximately 315 million tonnes grading ~150 g/t AgEq, for a contained silver equivalent range of approximately 123 to 176 million ounces[102] Project Development and Strategy - The company has completed five acquisitions in two years, consolidating a large silver district at a cost of 10c/AgEq oz[21, 22] - The company's immediate plan is to transition from explorer to developer, focusing on "high-value" free-milling silver ounces[29] - A medium-term strategy is in place to unlock value through growth in sulphide resources, enhancing project scale and longevity[29] Market and Location - The company's projects are located in Santa Cruz, Argentina, a pro-mining province with a clear permitting framework[21, 66] - Coeur Mining acquired 49% of Joaquin for USD $60 million in 2012, implying a valuation of $27/AgEqoz[23]