Programa de Produccion

Periodo 2022 2023 2024 2025

Tonelaje 721,920 720,044 719,392 720,029
Ley_Zn% 5.99 6.48 6.44 5.61
Ley_Pb% 0.23 0.22 0.28 0.41
Ley_Ag 1.91 1.96 1.94 2.44
Ley_Cu 0.06 0.07 0.10 0.14

2,005 2,000 1,998 2,000

Produccion
2026 2027 2028 Total
720,000 720,000 609,060 4,930,446
5.69 5.10 4.61 5.73
0.48 0.58 0.50 0.38
1.87 1.49 2.03 1.95
0.11 0.08 0.02 0.08

2,000 2,000 1,692 13,696

 PRODUCCION EST
Datos del Programa de Produccion
Periodo 2022 2023 2024 2025
Tonelaje 721,920 720,044 719,392 720,029
Ley_Cu 0.06 0.07 0.10 0.14
Ley_Pb% 0.23 0.22 0.28 0.41
Ley_Zn% 5.99 6.48 6.44 5.61
Oz._Ag. 1.91 1.96 1.94 2.44

2022
Produccion Ensayes
Producto T.M.S % Peso % Cu % Pb % Zn
Tratamiento 721,920.46 100.00 0.06 0.23 5.99
Conc. Cu 381.01 0.05 16.00 2.20 3.40
Conc. Pb 2,686.23 0.37 0.83 43.00 12.07
Conc. Zn 73,553.27 10.19 0.29 0.30 53.70
Relaves 645,680.96 89.44 0.02 0.05 0.52
60.96
381.01
2023
Produccion Ensayes
Producto T.M.S % Peso % Cu % Pb % Zn
Tratamiento 720,044.45 100.00 0.07 0.22 6.48
Conc. Cu 537.67 0.07 15.00 1.44 2.60
Conc. Pb 2,486.34 0.35 1.19 43.00 14.08
Conc. Zn 79,461.20 11.04 0.35 0.25 53.70
Relaves 638,096.91 88.62 0.02 0.04 0.57

2024
Produccion Ensayes
Producto T.M.S % Peso % Cu % Pb % Zn
Tratamiento 719,392.06 100.00 0.10 0.28 6.44
Conc. Cu 736.47 0.10 15.00 1.36 1.89
Conc. Pb 3,207.84 0.45 1.18 43.00 10.83
Conc. Zn 78,849.49 10.96 0.46 0.33 53.70
Relaves 637,334.73 88.59 0.03 0.05 0.57

2025
Produccion Ensayes
Producto T.M.S % Peso % Cu % Pb % Zn
Tratamiento 720,029.12 100.00 0.14 0.41 5.61
Conc. Cu 1,316.26 0.18 15.00 1.11 0.92
Conc. Pb 5,084.35 0.71 1.07 49.00 5.96
Conc. Zn 68,179.49 9.47 0.75 0.24 54.12
Relaves 646,765.28 89.82 0.03 0.04 0.49

2026
Produccion Ensayes
Producto T.M.S % Peso % Cu % Pb % Zn
Tratamiento 720,000.00 100.00 0.11 0.48 5.69
Conc. Cu 1,188.95 0.17 17.00 1.46 3.45
Conc. Pb 6,042.28 0.84 0.74 45.80 5.09
Conc. Zn 69,351.55 9.63 0.61 0.31 53.70
Relaves 644,606.17 89.53 0.02 0.07 0.53

2027
Produccion Ensayes
Producto T.M.S % Peso % Cu % Pb % Zn
Tratamiento 720,000.00 100.00 0.08 0.58 5.10
Conc. Cu 478.66 0.07 15.00 4.36 4.60
Conc. Pb 6,788.88 0.94 0.45 43.00 4.32
Conc. Zn 63,083.52 8.76 0.46 0.73 52.40
Relaves 650,127.60 90.30 0.03 0.12 0.51

2028
Produccion Ensayes
Producto T.M.S % Peso % Cu % Pb % Zn
Tratamiento 609,059.92 100.00 0.02 0.50 4.61
Conc. Cu 78.58 0.01 15.00 19.46 71.46
Conc. Pb 4,907.96 0.81 0.13 43.00 4.58
Conc. Zn 48,807.77 8.01 0.13 0.81 51.80
Relaves 555,344.19 91.18 0.01 0.10 0.45

TOTAL
Produccion Ensayes
Producto T.M.S % Peso % Cu % Pb % Zn
Tratamiento 4,930,446.01 100.00 0.08 0.38 5.73
Conc. Cu 4,717.60 0.10 15.58 2.00 3.65
Conc. Pb 31,203.88 0.63 0.72 44.52 6.89
Conc. Zn 481,286.29 9.76 0.44 0.40 53.40
Relaves 3,122,147.28 89.51 0.03 0.09 0.74
 PRODUCCION ESTIMADA PLAN LARGO PLAZO
ma de Produccion
2026 2027 2028 Total
720,000 720,000 609,060 4,930,446
0.11 0.08 0.02 0.08
0.48 0.58 0.50 0.38
5.69 5.10 4.61 5.73
1.87 1.49 2.03 1.95

nsayes Contenidos Metalicos

gr/t Onz/t Cobre, t Plomo, t Zinc, t Plata gr.
96.08 1.91 406.41 1,674.03 43,214.56 42,898,351
20,266 651.58 60.96 8.37 12.96 7,721,703
5,861 188.43 22.35 1,155.08 324.11 15,743,709
157 5.06 211.33 217.62 39,498.11 11,582,562
12.16 0.39 111.76 292.96 3,379.38 7,850,377
Total Oz Ag 35,047,974

nsayes Contenidos Metalicos

gr/t Onz/t Cobre, t Plomo, t Zinc, t Plata gr.
- 1.96 537.67 1,549.46 46,685.63 43,826,510
14,672 471.72 80.65 7.75 14.01 7,888,772
6,469 207.99 29.57 1,069.12 350.14 16,084,323
149 4.79 279.59 201.43 42,670.66 11,833,162
12.57 0.40 147.86 271.16 3,650.82 8,020,252
Total Oz Ag 35,806,257

nsayes Contenidos Metalicos

gr/t Onz/t Cobre, t Plomo, t Zinc, t Plata gr.
- 1.94 690.44 1,999.09 46,326.23 43,391,590
10,605 340.97 110.47 10.00 13.90 7,810,486
4,964 159.61 37.97 1,379.37 347.45 15,924,700
149 4.78 359.03 259.88 42,342.18 11,715,716
12.46 0.40 182.96 349.84 3,622.71 7,940,688
Total Oz Ag 35,450,902

nsayes Contenidos Metalicos

gr/t Onz/t Cobre, t Plomo, t Zinc, t Plata gr.
90.20 2.44 987.19 2,930.98 40,370.61 54,720,627
7,483 240.59 197.44 14.66 12.11 9,849,713
3,950 126.99 54.30 2,491.33 302.78 20,082,457
 217 6.97 513.34 161.20 36,898.74 14,774,556
15.48 0.50 222.12 263.79 3,156.98 10,013,901
Total Oz Ag 44,706,726

nsayes Contenidos Metalicos

gr/t Onz/t Cobre, t Plomo, t Zinc, t Plata gr.
58.06 1.87 808.49 3,476.59 40,992.61 41,803,882
6,329 203.48 202.12 17.38 40.99 7,524,699
2,539 81.63 44.47 2,767.36 307.44 15,342,039
164 5.27 420.41 212.07 37,241.78 11,370,654
11.74 0.38 141.49 479.77 3,402.39 7,566,491
Total Oz Ag 34,237,391

nsayes Contenidos Metalicos

gr/t Onz/t Cobre, t Plomo, t Zinc, t Plata gr.
46.21 1.49 552.30 4,170.31 36,687.86 33,273,224
12,512 402.28 71.80 20.85 22.01 5,989,180
1,799 57.83 30.38 2,919.22 293.50 12,211,287
142 4.58 287.20 458.73 33,055.76 8,983,773
9.37 0.30 162.93 771.51 3,316.58 6,088,984
Total Oz Ag 27,184,240

nsayes Contenidos Metalicos

gr/t Onz/t Cobre, t Plomo, t Zinc, t Plata gr.
63.20 2.03 117.87 3,058.58 28,075.99 38,492,854
88,174 2,834.86 11.79 15.29 56.15 6,928,714
2,878 92.54 6.48 2,110.42 224.61 14,126,888
213 6.85 61.29 397.62 25,282.43 10,393,071
12.68 0.41 38.31 535.25 2,512.80 7,044,181
Total Oz Ag 31,448,673

nsayes Contenidos Metalicos

gr/t Onz/t Cobre, t Plomo, t Zinc, t Plata gr.
60.65 1.95 4,100.37 18,859.03 282,353.49 298,407,036
11,385.72 366.06 735.23 94.30 172.14 53,713,267
3,509.67 112.84 225.52 13,891.91 2,150.03 109,515,404
167.58 5.39 2,132.19 1,908.56 256,989.66 80,653,493
17.46 0.56 1,007.43 2,964.27 23,041.66 54,524,873
Total Oz Ag 243,882,163
 45.6

75.5 90 35.24
os Recuperaciones, %
Plata, Oz Cu Pb Zn Ag
1,379,214.00 100.00 100.00 100.00 100.00
248,258.52 15.00 0.50 0.03 18.00
506,172.00 5.50 69.00 0.75 36.70
372,388.00 52.00 13.00 91.40 27.00
252,395.48 27.50 18.00 7.85 18.30
1,126,818.52 81.70

75.5 90 35.24
os Recuperaciones, %
Plata, Oz Cu Pb Zn Ag
1,409,055.00 100.00 100.00 100.00 100.00
253,629.90 15.00 0.50 0.03 18.00
517,123.00 5.50 69.00 0.75 36.70
380,445.00 52.00 13.00 91.40 27.00
257,857.10 27.50 18.00 7.85 18.30
1,151,197.90 81.70

75.5 90 35.24
os Recuperaciones, %
Plata, Oz Cu Pb Zn Ag
1,395,072.00 100.00 100.00 100.00 100.00
251,112.96 16.00 0.50 0.03 18.00
511,991.00 5.50 69.00 0.75 36.70
376,669.00 52.00 13.00 91.40 27.00
255,299.04 26.50 18.00 7.85 18.30
1,139,772.96 81.70

75.5 90 35.24
os Recuperaciones, %
Plata, Oz Cu Pb Zn Ag
1,759,309.00 100.00 100.00 100.00 100.00
316,675.62 20.00 0.50 0.03 18.00
645,666.00 5.50 85.00 0.75 36.70
 475,013.00 52.00 5.50 91.40 27.00
321,954.38 22.50 9.50 7.85 18.30
1,437,354.62 81.70

75.5 90 35.24
os Recuperaciones, %
Plata, Oz Cu Pb Zn Ag
1,344,026.00 100.00 100.00 100.00 100.00
241,924.68 25.00 0.50 0.10 18.00
493,258.00 5.50 79.60 0.75 36.70
365,575.00 52.00 6.10 90.85 27.20
243,268.32 17.50 14.30 8.40 18.10
1,100,757.68 81.90

75.5 90 35.24
os Recuperaciones, %
Plata, Oz Cu Pb Zn Ag
1,069,759.00 100.00 100.00 100.00 100.00
192,556.62 13.00 0.50 0.06 18.00
392,602.00 5.50 70.00 0.80 36.70
288,835.00 52.00 11.00 90.10 27.00
195,765.38 29.50 19.00 9.10 18.30
873,993.62 81.70

75.5 90 35.24
os Recuperaciones, %
Plata, Oz Cu Pb Zn Ag
1,237,574.00 100.00 100.00 100.00 100.00
222,763.32 10.00 0.50 0.20 18.00
454,190.00 5.50 69.00 0.80 36.70
334,145.00 52.00 13.00 90.05 27.00
226,475.68 32.50 18.00 9.15 18.30
1,011,098.32 81.70

75.5 90 35.24
os Recuperaciones, %
Plata, Oz Cu Pb Zn Ag
9,594,009.00 100.00 100.00 100.00 100.00
1,726,921.62 17.93 0.50 0.06 18.00
3,521,002.00 5.50 73.66 0.76 36.70
2,593,070.00 52.00 10.12 91.02 27.03
1,753,015.38 24.57 15.72 8.16 18.27
7,840,993.62 81.73
 CONTRIBUCIÓN OPERATIVA (U
2022 2023

Inicio de la Operación 2022

1. Precios
2022 2023
Zn US$/t 2,200 2,200
Pb US$/t 2,000 2,000
Cu US$/t 6,500 6,500
Ag US$/Oz 18.0 18.0
2. Plan de Minado
RESERVAS DE MINERAL
Tonelaje inicial t 4,930,496 4,208,576
Producción Mina t 721,920 720,044
Zn % 5.99 6.48
Pb % 0.23 0.22
Cu % 0.06 0.07
Ag oz/t 1.91 1.96

2023 2024
Treatment Plan
Capacity tpd 2,000 2,000
Días de Operación días 360 360
Tratamiento (DMT-Dry Metric Tonnes) DMT 720,000 720,000

Plan de Tratamiento t 721,920 720,044

Zn % 5.99 6.48
Pb % 0.23 0.22
Cu % 0.06 0.07
Ag oz/t 1.91 1.96

3. Balance Metalúrgico
Recuperaciones Metalúrgicas
Zn % 91.4 91.4
Pb % 69.0 69.0
Cu % 15.0 15.0
Ag % 81.7 81.7
CC Zn % 27.0 27.0
CC Pb % 36.7 36.7
CC Cu % 18.0 18.0

Concentrados
Zn tpd 73,553 79,461
Pb tpd 2,686 2,486
Cu tpd 381 538

Ley de Concentrado
Zn % 53.7 53.7
Pb % 43.0 43.0
Cu % 16.0 15.0

Finos
Zn t 39,498 42,671
Pb t 1,155 1,069
Cu t 61 81
Ag Oz 1,126,818 1,151,198
CC Zn Oz 372,388 380,445
CC Pb Oz 506,171 517,123
CC Cu Oz 248,258 253,630

4. Valor de Concetrado

Valor Bruto US$ 000 109,885 117,259

Zn US$ 000 86,896 93,875
Pb US$ 000 2,310 2,138
Cu US$ 000 396 524
Ag US$ 000 20,283 20,722

CC Zn Pagable
Zn Pagable FMT 33,573 36,270
deducción 1 Unidad 8.00 8.00
deducción 2 % 85.00 85.00
Ag Pagable Oz 97,587 90,346
minima deducción Oz/t 3.1 3.1
% deducción % 69.0 69.00
CC Pb Pagable
Pb Pagable FMT 1,074 995
deducción 1 % 3.0 3.0
deducción 2 % 95.00 95.0
Ag Pagable Oz 476,754 487,464
minima deducción Oz/MT 1.6 1.6
% deducción % 95.0 95.0

CC Cu Pagable
Cu Pagable FMT 57 75
deducción 1 % 1.0 1.0
deducción 2 % 96.7 96.7
Ag Pagable Oz 211,020 215,585
minima deducción Oz/MT 0.0 0.0
% deducción % 85.0 85.0

Valor Pagable US$ 000 90,518 96,554

Zn US$ 000 73,861 79,794
Pb US$ 000 2,149 1,989
Cu US$ 000 371 489
Ag US$ 000 14,136 14,281

Producción de finos Pagables

Zn t 33,573 36,270
Pb t 1,074 995
Cu t 57 75
Ag Oz 785,361 793,396

Términos Comerciales
Concentrado de Zn
Costo de Fundición (Maquila) US$/t -225 -225
Concentrado de Pb
Costo de Fundición US$/t -215 -215
Costo de Refinación US$/Ag -1.3 -1.3
Concentrado de Cu
Costo de Fundición US$/t -500 -500
Costo de Refinación US$/Ag -1.3 -1.3
Descuentos Comerciales US$ 000 -18,212 -19,596
Zn US$ 000 -16,549 -17,879
Pb US$ 000 -578 -535
Cu US$ 000 -191 -269
Ag US$ 000 -894 -914

Valor Neto US$ 000 72,307 76,957

Zn US$ 000 57,312 61,915
Pb US$ 000 1,571 1,455
Cu US$ 000 181 220
Ag US$ 000 13,242 13,367
Valor Neto / Valor Bruto
Zn 66% 66%
Pb 68% 68%
Cu 46% 42%
Ag 65% 65%
VALOR PUNTO US$ ( FACTOR NSR)
US$ 1% Zn 13.26 13.26
US$ 1% Pb 9.39 9.39
US$ 1% Cu 4.45 4.10
US$ 1 oz Ag 9.60 9.49

Valor ley de cabeza Zn US$/t 79.39 85.99

Valor ley de cabeza Pb US$/t 2.18 2.02
Valor ley de cabeza Cu US$/t 0.25 0.31
Valor ley de cabeza Ag US$/t 18.34 18.56
VPT - NSR US$/t 100.16 106.88
Valor Neto US$(000) 72,307 76,957

6. Opex, Capex y Gastos de Ventas

Costos de Operación (Opex)
Mina US$/t 32.7 33.1
Planta US$/t 8.6 8.6
Administración US$/t 9.2 9.2
Opex US$/t 50.5 50.9
Opex US$ 000 36,440 36,647

Gastos de Capital - Capex

Exploración, Desararrollos, remplazo equipUS$/t 10.9 10.4
Planta y Relaveras US$/t 3.4 6.1
Otro Capex Operativo US$/t 1.4 1.4
Capex US$/t 15.6 18.0
Capex US$ 000 11,298 12,928

Gastos de Ventas
Gastos de Venta Zn US$/t 57.7 57.7
Gastos de Venta Pb US$/t 82.0 82.0
Gastos de Venta Cu US$/t 40.9 40.9
Gastos de Venta US$ 000 4,478 4,809

7. Contribución a la Producción
Valor de Neto de Producción 72,307 76,957
Costo de Producción -36,440 -36,647
Gastos de Ventas -4,478 -4,809
Contribución Operativa US$ 000 31,388 35,501
Capex US$ 000 -11,298 -12,928
Contribución Neta US$ 000 20,090 22,573

Tasa de Descuento % 10%

NPV - Contribución Neta US$ 000 94,255
RATIVA (US$ ´000)
2024 2025 2026 2027 2028

2024 2025 2026 2027 2028

2,200 2,200 2,200 2,200 2,200
2,000 2,000 2,000 2,000 2,000
6,500 6,500 6,500 6,500 6,500
18.0 18.0 18.0 18.0 18.0

3,488,531 2,769,139 2,049,110 1,329,110 609,110

719,392 720,029 720,000 720,000 609,060
6.44 5.61 5.69 5.10 4.61
0.28 0.41 0.48 0.58 0.50
0.10 0.14 0.11 0.08 0.02
1.94 2.44 1.87 1.49 2.03

2025 2026 2027 2028 2029

2,000 2,000 2,000 2,000 2,000

360 360 360 360 360
720,000 720,000 720,000 720,000 720,000

719,392 720,029 720,000 720,000 609,060

6.44 5.61 5.69 5.10 4.61
0.28 0.41 0.48 0.58 0.50
0.10 0.14 0.11 0.08 0.02
1.94 2.44 1.87 1.49 2.03

91.4 91.4 90.9 90.1 90.1

69.0 85.0 79.6 70.0 69.0
16.0 20.0 25.0 13.0 10.0
 81.7 81.7 81.9 81.7 81.7
27.0 27.0 27.2 27.0 27.0
36.7 36.7 36.7 36.7 36.7
18.0 18.0 18.0 18.0 18.0

78,849 68,179 69,352 63,084 48,808

3,208 5,084 6,042 6,789 4,908
736 1,316 1,189 479 79

53.7 54.1 53.7 52.4 51.8

43.0 49.0 45.8 43.0 43.0
15.0 15.0 17.0 15.0 15.0

42,342 36,899 37,242 33,056 25,282

1,379 2,491 2,767 2,919 2,110
110 197 202 72 12
1,139,773 1,437,355 1,100,757 873,993 1,011,098
376,669 475,013 365,575 288,835 334,145
511,991 645,666 493,258 392,602 454,190
251,113 316,676 241,925 192,557 222,763

117,146 113,316 108,594 94,760 78,119

93,153 81,177 81,932 72,723 55,621
2,759 4,983 5,535 5,838 4,221
718 1,283 1,314 467 77
20,516 25,872 19,814 15,732 18,200

35,991 31,364 31,656 28,009 21,378

8.00 8.00 8.00 8.00 8.00
85.00 85.00 85.00 85.00 85.00
89,067 180,042 101,990 62,619 124,813
3.1 3.1 3.1 3.1 3.1
69.00 69.00 69.00 69.00 69.00
 1,283 2,339 2,586 2,716 1,963
3.0 3.0 3.0 3.0 3.0
95.0 95.0 95.0 95.0 95.0
481,485 605,607 459,353 362,588 423,974
1.6 1.6 1.6 1.6 1.6
95.0 95.0 95.0 95.0 95.0

103 184 190 67 11

1.0 1.0 1.0 1.0 1.0
96.7 96.7 96.7 96.7 96.7
213,446 269,174 205,636 163,673 189,349
0.0 0.0 0.0 0.0 0.0
85.0 85.0 85.0 85.0 85.0

96,528 93,863 89,856 78,087 64,315

79,180 69,001 69,642 61,620 47,031
2,566 4,678 5,172 5,431 3,926
670 1,198 1,237 436 72
14,112 18,987 13,806 10,600 13,286

35,991 31,364 31,656 28,009 21,378

1,283 2,339 2,586 2,716 1,963
103 184 190 67 11
783,998 1,054,822 766,979 588,880 738,136

-225 -225 -225 -225 -225

-215 -215 -215 -215 -215

-1.3 -1.3 -1.3 -1.3 -1.3

-500 -500 -500 -500 -500

-1.3 -1.3 -1.3 -1.3 -1.3
-19,702 -18,229 -18,362 -16,577 -12,874
-17,741 -15,340 -15,604 -14,194 -10,982
-690 -1,093 -1,299 -1,460 -1,055
-368 -658 -594 -239 -39
-903 -1,137 -864 -684 -797

76,826 75,634 71,494 61,510 51,442

61,439 53,660 54,038 47,426 36,049
1,877 3,584 3,873 3,971 2,871
302 540 642 196 32
13,209 17,850 12,941 9,916 12,489

66% 66% 66% 65% 65%

68% 72% 70% 68% 68%
42% 42% 49% 42% 42%
64% 69% 65% 63% 69%

13.26 13.29 13.18 12.93 12.84

9.39 12.23 11.14 9.52 9.39
4.37 5.47 7.94 3.55 2.73
9.47 10.15 9.63 9.27 10.09

85.40 74.53 75.05 65.87 59.19

2.61 4.98 5.38 5.52 4.71
0.42 0.75 0.89 0.27 0.05
18.36 24.79 17.97 13.77 20.51
106.79 105.04 99.30 85.43 84.46
76,826 75,634 71,494 61,510 51,442

33.4 33.8 42.2 40.4 28.5

8.6 8.6 8.6 8.6 8.6
9.2 9.2 9.2 9.2 9.1
51.3 51.6 60.0 58.3 46.1
36,884 37,157 43,236 41,949 28,099
 13.4 7.4 10.6 5.3 0.0
2.1 2.9 4.0 5.0 0.0
2.0 1.5 0.0 0.0 0.0
17.6 11.7 14.6 10.4 0.0
12,629 8,455 10,523 7,485 0

57.7 57.7 57.7 57.7 57.7

82.0 82.0 82.0 82.0 82.0
40.9 40.9 40.9 40.9 40.9
4,841 4,403 4,544 4,215 3,221

76,826 75,634 71,494 61,510 51,442

-36,884 -37,157 -43,236 -41,949 -28,099
-4,841 -4,403 -4,544 -4,215 -3,221
35,101 34,074 23,714 15,346 20,122
-12,629 -8,455 -10,523 -7,485 0
22,473 25,619 13,191 7,861 20,122
(TAMAÑO DE DISEÑO DE LA PLANTA)

(OPERACIÓN DE LA PLANTA)
Otra Forma de calcular
el Factor NSR
13.26
9.39
4.45
9.60

79.39
2.18
0.25
18.34
100.16