Vizsla Silver Corp.
Vizsla is advancing the 100%-owned Panuco silver-gold project in Sinaloa toward a construction decision, having awarded key plant equipment and engineering contracts in 2026 and secured a MXN$173M working capital facility from Mexican government institution FIFOMI.
Notable vs. Peers
- Financials score of 8.1/10 is stronger than the peer average of 5.8/10.
Lifecycle Milestones
Jurisdiction (40%)6/10
Mexico has deep mining infrastructure and expertise, but state-level security issues and policy uncertainty keep it below top-tier North American jurisdictions.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Panuco Project, Sinaloa, Mexico.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: San Dimas (First Majestic Silver Corp.), 79 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
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 in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:4/10
Nearest producing mine: San Dimas (First Majestic Silver Corp.), 79 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:10/10
Stage: Feasibility Study
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:6/10
Mexico: jurisdiction score 6/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:5/10
Primary commodity: Silver
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Holds a Bachelor of Commerce from Royal Roads University and a Diploma in Marketing Management from BCIT. Founded Vizsla Silver Corp. in 2017 and has served as President, CEO & Director since, leading consolidation of a high-grade silver-gold district in Mexico. Co-founded Inventa Capital in 2017, a natural resource incubator that has raised over C$800 million, and co-founded CobaltOne Energy Corp, a battery-metals explorer later acquired by Blackstone Minerals. Also serves as Executive Chairman of Vizsla Royalties, as Director and Interim Chief Executive Officer of TinOne Resources Inc. (TSXV: TORC, an Inventa portfolio company), and sits on the boards of Vizsla Copper and Summa Silver.
B.Eng (Hons) in Metallurgical Engineering (1994) from the Gartrell School of Mining, Metallurgy and Applied Geology, University of South Australia. Began his career at Western Mining Corporation's Olympic Dam Mine, then spent eight years on the Goro Nickel project in New Caledonia as Senior Project Manager and Construction Director. Joined Ausenco in 2009, rising through Manager-Project Delivery, President APAC/Africa, President North America, and President Americas, then COO in 2019, before joining Vizsla Silver as COO in April 2024 after having been a company director since its formation.
Member of the Mexican Mining Hall of Fame with a career spanning roughly four decades, holding senior executive/board roles at Industrial Peñoles, Luismin, Goldcorp, Wheaton River Minerals, Alamos Gold, Primero Mining, and Dyna Resource. Played a key role in developing Mexico's San Dimas mine and previously served on the board of Wheaton Precious Metals. Former President of the Mexican Mining Chamber and former President of the Silver Institute. Joined Vizsla Silver's board as an independent director in November 2023 and was subsequently named Lead Director.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Sprott holds 4.35% as at 30 June 2026 and the Franklin Gold & Precious Metals Fund a further 1.81% -- real precious-metals specialists, though neither is big enough on its own to signal strong conviction. Institutional ownership is high at 68%, but a large part of that is index and ETF money, including the Amplify Junior Silver Miners ETF at 7.26%. Insider activity is two-sided: four different insiders bought on the open market in the last year, while roughly 2.2 million shares were sold over the same period -- close to ten times the volume bought, much of it by CEO Michael Konnert, who appears on both sides.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Vizsla Silver is advancing the 100%-owned Panuco silver-gold project in Sinaloa, Mexico, toward a construction decision; in 2026 it awarded key plant equipment and engineering contracts and secured a MXN$173M working capital facility from the Mexican government institution FIFOMI. The Panuco resource (effective 9 September 2024) is 127,819,000 oz of silver in measured and indicated resources (28,597,000 oz measured, 99,222,000 oz indicated), plus 73,621,000 oz inferred. The November 2025 feasibility study shows an after-tax NPV5% of US$1.80B and a 111% IRR at US$35.50/oz silver and US$3,100/oz gold, with initial capital of US$238.7M, an initial 9.4-year mine life and an all-in sustaining cost of US$10.61 per payable silver-equivalent ounce.