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With a recent $26M financing and high grades reported, and silver continuing to surge, AGMR is well-positioned for continued positive momentum. targets commercial production at its Reliquias mine in Peru for Q3 2026. Recent company updates, including high-grade sampling and stockpiling progress, confirm the team remains on track for this timeline despite earlier delays from 2025 targets. As a rule, we always add time to company forecasts, so we might move production expectations to 2027. There is some risk here: Silver Mountain Resources' Reliquias mine is located in Huancavelica, Peru, a region with a history of mining-related protests but no current reports of active disruptions targeting this specific site as of early 2026. Peru faces ongoing political tensions and informal miner protests elsewhere, particularly around permit extensions and elections, yet recent AGMR updates emphasize progress without mentioning local unrest. The area remains politically sensitive due to past national demonstrations affecting mining. But frankly, for small cap developers this is really nothing new. We think the risk is likely priced in.