Investigator Resources (IVR) RIU Explorers Conference 2026 summary

Silver market dynamics and outlook

• Silver prices have experienced significant volatility, peaking at $120/oz before settling around $75–$80/oz, driven by persistent supply-demand imbalances and growing industrial and monetary demand.

• Only 27–28% of global silver supply comes from primary silver mines, with most production as a by-product in geopolitically unstable regions, leading to inelastic supply.

• Ongoing supply deficits over the past five years have supported upward price pressure, benefiting projects in stable jurisdictions.

Paris Silver Project development and economics

• The Paris Silver Project in South Australia is a high-grade, primary silver asset with a near-term production pathway and a simple open-pit design.

• Processing will use conventional cyanide leach and Merrill-Crowe precipitation, targeting a 10–11 year mine life.

• Recent water discoveries enabled a shift from dry stack to wet tailings, reducing capital and operating costs.

• Higher silver prices have allowed for pit expansion, lower cut-off grades, and increased recoverable ounces, with updated economics expected in the upcoming definitive feasibility study.

• Previous studies at $22/oz silver showed $500M free cash; at current prices, this could rise by $2–4B.

Permitting, stakeholder engagement, and execution readiness

• The project is located in a mining-friendly, sparsely populated area with strong government support and minimal land use conflicts.

• Permitting is on track, with a mine lease application planned for mid-2026 and final investment decision by mid-2027.

• Longstanding, respectful engagement with Traditional Owners has resulted in agreed exclusion zones and reduced project risk.

• Detailed engineering, early contractor engagement, and finance preparations are underway to ensure rapid post-approval execution.

• Intensive drilling is planned to increase resource confidence and support favorable debt terms.