About this episode
Discovery Silver (TSX: DSV; OTCQX: DSVSF) CEO Tony Makuch has been named Kitco Mining’s CEO of the Year after leading a rapid turnaround of the Porcupine complex in Ontario and repositioning the former non-core asset into a cash-generating growth platform.Speaking at the 35th BMO Global Metals, Mining & Critical Minerals Conference, Makuch highlighted 2025 production of 180,000 ounces of gold, net profit of $107 million, and free cash flow of $172 million in the company’s first full year operating the asset. Discovery is accelerating investment, increasing exploration spending to more than $65 million as it works to extend mine life beyond current plans, grow resources at Borden, Hoyle Pond, and Pamour, and ultimately lift production while lowering costs. Makuch said the company is targeting all-in sustaining costs of between $1,250 and $1,500 per ounce over time.“Shareholder return over the next few years is going to be an investment of capital into the business to improve the value of the equity,” he said.Makuch also outlined balance sheet strength, a debt-free position, and continued permitting progress at the Cordero project in Mexico as Discovery focuses on reinvesting cash flow to build long-term value.Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews.Special thanks to our sponsor, First Majestic Silver. To learn more, visit https://firstmajestic.com00:33 – Record 2025 Gold Production, Profit & Free Cash Flow02:30 – Reinvesting Higher Gold Prices Into Growth03:52 – Porcupine Exploration & Mine Life Expansion05:58 – Workforce Integration & Culture Shift07:10 – Debt-Free Balance Sheet & Credit Facility Reset09:35 – Shareholder Returns Through Reinvestment11:00 – Cordero Permitting Progress in Mexico13:45 – Investor Questions at BMO Conference15:52 – Mid-Tier Gold Sector Outlook & Cycles18:15 – Kitco Mining CEO of the Year Announcement__________________________________________________________________Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.comStay connected with usX - https://x.com/KitcoMiningInstagram - https://www.instagram.com/kitcominingLinkedIn - https://www.linkedin.com/company/kitco-miningFacebook - https://www.facebook.com/KitcoMiningConnect with the Kitco Mining anchorsPaul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, v
