IMPACT Silver Corp.

Notable vs. Peers

• Financials score of 10/10 is stronger than the peer average of 7.5/10.

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · Reused-permit shape, same convention as HL/DRD (batch 1) and WGX (this batch): the Canadian Mining Journal's profile of IMPACT's January 2006 US$1.8M acquisition of the then-ailing Guadalupe production centre states directly that Impact inherited 'a site with strong production potential' where 'water and power were readily available, the tailings infrastructure was well designed, and the bulk of the operating permits were grandfathered' -- i.e. the operating permits predate and were not newly granted for IMPACT's 2006 acquisition, consistent with this miner's own existing CONSTRUCTION_DECISION row describing Guadalupe as 'already-existing, already-licensed but underperforming' at acquisition. No dated 'permit granted' event specific to IMPACT's ownership was found (nor would one be expected, given the grandfathered-permits framing) -- reused pre-existing permit, not a new grant. · Source
2. Construction decision (FID)

   Reached — date not disclosed · IMPACT Silver Corp acquired the already-existing, already-licensed but underperforming (~130-142tpd vs 500tpd nameplate, "due to lack of ore") Guadalupe production centre (Zacualpan/Royal Mines of Zacualpan district, Mexico) for US$1.8M in January 2006, from a prior operator not identified in available sources -- a real decision-equivalent capital commitment to acquire and overhaul the asset, not a from-scratch construction FID (Guadalupe was already producing, just underperforming, at acquisition). Corroborated by a company release marking the '10 Year Anniversary of Continuous Production at the Royal Mines of Zacualpan Silver District' (record 2015 production), independently fixing continuous production from Jan 2006. Exact day within January 2006 not found. See also this miner's existing FIRST_PRODUCTION row (2006, undated), which this same acquisition underlies. · Source
3. Construction start

   Not yet reached · Carried forward verbatim from this miner's own constructionMilestone:CONSTRUCTION_START MetricStatus note (Task #700, status VERIFIED): "LEGITIMATE DIVERGENCE, not a data gap -- re-verified and upgraded from RESEARCHED_UNKNOWN to a positive ruling. IMPACT Silver did not build its producing asset: it ACQUIRED the already-existing, already-licensed, already-producing (though underperforming, ~130-142tpd against a 500tpd nameplate) Guadalupe production centre in the Zacualpan district, Mexico, for US$1.8M in January 2006, and has produced there continuously since. This miner's own sibling rows already say so independently -- PERMIT_GRANTED is recorded as a reused/grandfathered permit ('the bulk of the operating permits were grandfathered'), CONSTRUCTION_DECISION is explicitly recorded as 'a real decision-equivalent capital commitment to acquire and overhaul the asset, NOT a from-scratch construction FID', and FIRST_PRODUCTION is recorded as continuous production since 2006. A CONSTRUCTION_START row would contradict all three. Same shape as CMCL/Blanket, TBR/EKJV, KSN/Mineral Hill, and DSV (Task #672). Consistent with Task #610, which reached the same reading of Zacualpan when writing this miner's FIRST_PRODUCTION row. Capire was tested as an alternative anchor and REJECTED: IMPACT did build a pilot mill there, but Capire is explicitly on care and maintenance and this miner's own COMMERCIAL_PRODUCTION note already rules it 'not a current producing asset, not the basis' -- anchoring the gate to a non-producing asset to close it would be circular. stage=PRODUCTION is correct and is not in doubt." Task #807: written as a real disputed=true/disputedKind=CONFIRMED_NON_OCCURRENCE row now that Task #792/#793 built the generic exemption mechanism (hasConfirmedPermanentDivergence() in src/lib/lifecycle-gates.ts) -- this finding previously existed only as MetricStatus prose. sourceUrl reuses the Canadian Mining Journal profile already cited on this miner's own CONSTRUCTION_DECISION/PERMIT_GRANTED rows, the primary source for the Jan 2006 Guadalupe acquisition. · Source
4. First pour / production

   Reached — date not disclosed · IMPACT Silver has produced silver in the Royal Mines of Zacualpan district (Mexico) since 2006, when it acquired the then-ailing Guadalupe production centre in a US$1.8 million deal and brought it into production -- the company's own materials state that since 2006 IMPACT has produced over 14 million ounces of silver at Zacualpan on revenue of more than US$352 million, and a company release marking the '10 Year Anniversary of Continuous Production at the Royal Mines of Zacualpan Silver District' (reporting record 2015 silver production of nearly one million ounces) independently fixes the start of continuous production at 2006. achievedDate left null: 2006 is year-level only, and no source found gives a month or day for IMPACT's original first production at Zacualpan. Distinct from, and earlier than, the September 2018 Guadalupe restart-after-hiatus already documented on this miner's COMMERCIAL_PRODUCTION row -- that row describes a restart of an operation this row dates the original start of. The Capire project is explicitly on care and maintenance and is not the basis for this row. Task #610 (2026-08-25): row was missing entirely; stage=PRODUCTION was already correct (IMPACT reported Q1 2026 revenue of US$31.2M and record net income of US$11.3M). · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no source found pins down IMPACT's own original (pre-hiatus) first commercial-production date with any precision, and only a month was found for the restart itself: the Guadalupe Mine (Zacualpan district, Mexico) restarted commercial production in September 2018 following a five-year hiatus, under IMPACT Silver's own long-standing (20+ year) continuous operatorship of the Zacualpan district. The Capire project is explicitly on care and maintenance, under evaluation for a possible future restart -- not a current producing asset, not the basis. Left null. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.