Discovery Silver
Discovery Mining Ltd. (formerly Discovery Silver) is a TSX-listed precious metals producer operating the Porcupine gold mines and Kidd copper-zinc-silver operation in Timmins, Ontario, while developing the Cordero silver project in Chihuahua, Mexico, for sale to global commodity markets.
- Company typePublic
- Founded2017
- HeadquartersToronto, Canada
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Discovery Silver does
Discovery Silver Corp., rebranded as Discovery Mining Ltd. effective June 22, 2026, is a Toronto-headquartered, TSX-listed (DSV) precious and critical metals producer with operations and development projects in Canada and Mexico. The company's revenue engine is gold production from the Porcupine Complex in Timmins, Ontario — acquired from Newmont Corporation in April 2025 for $425 million — comprising the Hoyle Pond, Borden, and Pamour mines. The asset base was expanded in Q1 2026 through the acquisition of Glencore Canada's Kidd Operations for up to $85 million, which added the Kidd Creek copper-zinc-silver mine and the Kidd Metallurgical Site, providing processing infrastructure and tailings capacity intended to scale gold output toward 500,000-750,000 oz annually over a 3-5 year horizon.
Underlying the Canadian producing platform is a development-stage portfolio centered on the Cordero Project (held through wholly owned subsidiary Minera Titán) in Chihuahua State, Mexico, described as one of the world's largest undeveloped silver deposits, with feasibility projecting 14 million ounces of silver annually in years 1-10 of operations at a negative $12.50/oz all-in sustaining cost. The company's core technology is conventional open-pit and underground mining combined with mineral processing through established mills; processing infrastructure from Kidd is intended to anchor expansion. By-product exposure includes copper and zinc from Kidd and Cordero, alongside silver and gold credits.
The business model is commodity sales to global precious and base metals markets at prevailing spot prices, with no published product tiers or list pricing. Discovery generated $653.2M in revenue and $172M in free cash flow in 2025 with zero debt and $634.9M in total liquidity as of March 2026, while reporting Q1 2026 net earnings of $81.7 million. Customer base consists of precious metals buyers, commodity exchanges, and refineries served through direct sales globally, with no disclosed enterprise customer concentration.
Discovery Silver firmographics
Firmographics- Name
- Discovery Silver
- Legal name
- Discovery Mining Ltd.
- Website
- https://discoverysilver.com
- Company type
- Public
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Discovery Mining Ltd. (formerly Discovery Silver) is a TSX-listed precious metals producer operating the Porcupine gold mines and Kidd copper-zinc-silver operation in Timmins, Ontario, while developing the Cordero silver project in Chihuahua, Mexico, for sale to global commodity markets.
- Ownership category
- akta.pro rank
Discovery Silver industry classification
Industry- Product category
- Precious Metals Mining
- NAICS
- Gold Ore and Silver Ore Mining (21222), Copper, Nickel, Lead, and Zinc Mining (212230)
- SIC
- Gold And Silver Ores (1040)
- akta.pro primary industry
- Silver Mining (IMAKAEAB)
- akta.pro secondary industries
- Gold Mining (IMAKAEAA), Precious Metals Exploration & Project Development (IMAKAEAI), Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)
Keywords
Where Discovery Silver is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices4 records
Markets served
Discovery Silver business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Gold Production and Sales: Discovery generates revenue through the production and sale of gold from its Porcupine Complex operations in Timmins, Ontario. The company produces gold from multiple mines including Hoyle Pond Mine, Borden Mine, and Pamour Mine.
- Silver Production and Sales: Revenue from silver production expected from the Cordero Project in Mexico, one of the world's largest undeveloped silver deposits, projected to produce 14 million ounces of silver annually in feasibility years 1-10.
Distribution channels1 record
Marketing channels7 records
Discovery Silver product offering
Product offeringCore offering
Discovery Silver (now Discovery Mining Ltd.) operates precious metals mining operations, producing gold from its Porcupine Complex (Hoyle Pond, Borden, and Pamour mines) and Kidd Operations in Timmins, Ontario, while advancing the Cordero Project (Minera Titán) — one of the world's largest undeveloped silver deposits — in Chihuahua State, Mexico. The company sells extracted gold and silver commodities to global buyers and refiners at prevailing spot prices.
Product overview
Discovery Mining Ltd. (formerly Discovery Silver Corp.) operates as a North America-focused precious metals company with a diversified portfolio of producing and development-stage assets. The company's product portfolio consists of three core assets: the Porcupine Complex (a producing gold operation in Timmins, Ontario with multiple mines and expansion potential), the Kidd Operations (the acquired Kidd Creek copper-zinc-silver mine and mill providing processing infrastructure), and the Cordero Project (one of the world's largest undeveloped silver deposits in Mexico). The company is transitioning from a silver-focused explorer to a diversified gold and silver producer.
Differentiator
Problem solved
Functional benefit
Products and services
- Porcupine Complex (Porcupine Operations) A portfolio of gold producing assets in the Timmins, Ontario area, including multiple operating mines (Hoyle Pond Mine, Borden Mine, Pamour Mine) and development projects (Dome, TVZ, Owl Creek). The complex produces gold and is being expanded to increase annual production toward 500,000–750,000 ounces.
- Kidd Operations The Kidd Creek copper-zinc-silver mine and Kidd Metallurgical Site in Timmins, Ontario, acquired from Glencore Canada. Includes the Kidd Metallurgical Site processing facility and tailings capacity, providing infrastructure for future expansion and cost synergies. Produces copper, zinc, and silver.
- Cordero Project (Minera Titán) One of the world's largest silver development-stage projects located in Chihuahua State, Mexico, held through the wholly-owned subsidiary Minera Titán. The project is advancing toward final investment decision and features significant silver reserves with by-product gold, copper, and zinc. Projected production is 14 million ounces of silver annually in feasibility years 1–10 at negative $12.50/oz AISC.
Quantifiable outcome
- 2026 gold production guidance: 260,000-300,000 ounces
- +3 more outcomes
Companies that use Discovery Silver
Customer profileSegments1 record
Ideal customer profiles2 records
Discovery Silver technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Discovery Silver partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- Taykwa Tagamou NationcoreDiscovery Silver entered into a Resource Development Agreement with Taykwa Tagamou Nation (TTN) to facilitate cooperation and responsible development of mining activities within TTN's territory in Ontario. The agreement aims to share economic benefits and minimize environmental impacts. TTN also filed a legal notice to discontinue a past court action against Discovery.
- Allied Market ResearchminorDiscovery Silver's $425 million acquisition of Newmont's Porcupine Complex was cited as a key industry development in Allied Market Research's global underground mining market report.
- Metals Creek ResourcesminorMetals Creek Resources and Discovery Silver have a 50/50 joint venture on the Ogden Gold Project in Timmins, Ontario, where Metals Creek serves as operator and launched a 4-hole drill program targeting the Thomas Ogden Zone.
Scale indicators16 records
Recent moves8 records
Expansion highlights6 records
Discovery Silver competitors and assessment
Company assessmentDirect peers
- MAG Silver Corp. Silver-focused developer with the Juanicipio project in Mexico. Highly comparable to Discovery as a mid-cap silver developer with a large Mexican asset advancing toward production, similar scale and stage to Cordero.
- First Majestic Silver Corp. Primary silver producer with operations across Mexico. Directly comparable as a publicly listed silver producer of similar size, with by-product gold credits and Mexican mining exposure.
- SilverCrest Metals Inc. Silver-gold producer with operations in Mexico. Comparable mid-cap precious metals producer focused on high-grade silver mining with by-product gold, similar jurisdictional profile to Discovery's Cordero.
- Coeur Mining, Inc. Silver and gold producer with operations across the Americas including Mexico. Comparable as a mid-cap diversified precious metals producer with Mexican and North American assets.
Broad incumbents
- Pan American Silver Corp. Major silver producer with diversified precious metals portfolio across the Americas. Provides a comparable scaled silver producer benchmark, though significantly larger and more diversified than Discovery.
- Hecla Mining Company: Established silver and gold producer with multiple North American operations. Comparable as a diversified precious metals producer of similar size with both producing silver-gold assets and development projects.
- Agnico Eagle Mines Limited: Major gold producer with extensive Canadian operations including in the Timmins region. Comparable as a large gold producer with Tier-1 Canadian assets, providing a benchmark for Discovery's growth ambition.
- Newmont Corporation: World's largest gold producer and former owner of Discovery's Porcupine Complex (sold for $425M). Relevant as the divestor's benchmark and as a comparable large-scale gold operator.
Regional players
- Torex Gold Resources Inc. Gold producer operating the Morelos Complex in Mexico. Regionally comparable gold producer with Mexican operations; VP Gertjan Bekkers was hired from Torex, indicating industry talent overlap.
Others
- KGHM Polska Miedź S.A. Integrated copper and silver producer with by-product precious metals. Comparable as an operator of a copper-silver mine producing by-product precious metals, relevant to Discovery's Kidd Operations integration.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Discovery Silver social profiles
Digital presenceDiscovery Silver financial estimates
Financial estimateRevenue estimate
Valuation estimate
Discovery Silver leadership team
Management profileNumber of profiles
Profiles8 records
Discovery Silver subsidiaries and ownership
Company hierarchySubsidiaries1 record
Discovery Silver funding detail
Funding detailFunding overview
Funding rounds5 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Discovery Silver M&A and investment
M&A and investmentM&A2 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Discovery Silver
What does Discovery Silver do?
Discovery Silver (now Discovery Mining Ltd.) operates precious metals mining operations, producing gold from its Porcupine Complex (Hoyle Pond, Borden, and Pamour mines) and Kidd Operations in Timmins, Ontario, while advancing the Cordero Project (Minera Titán) — one of the world's largest undeveloped silver deposits — in Chihuahua State, Mexico. The company sells extracted gold and silver commodities to global buyers and refiners at prevailing spot prices.
Is Discovery Silver a public or private company?
Discovery Silver is a public company. It is classified as public and is currently operating.
When was Discovery Silver founded?
Discovery Silver was founded in 2017. It employs 101 to 250 people.
Where is Discovery Silver based?
Discovery Silver is headquartered in Toronto, Canada, in the North America region.
How does Discovery Silver make money?
Two revenue lines are on record. Gold Production and Sales are the primary driver. The others are silver Production and Sales.
Who are Discovery Silver's main competitors?
Direct peers on record are MAG Silver Corp., First Majestic Silver Corp., SilverCrest Metals Inc. and Coeur Mining, Inc.. Broad incumbents are Pan American Silver Corp., Hecla Mining Company, Agnico Eagle Mines Limited and Newmont Corporation. Torex Gold Resources Inc. is listed as a regional player. KGHM Polska Miedź S.A. is listed as an others.
Does Discovery Silver have an API?
No public API is recorded for Discovery Silver.
What industry is Discovery Silver in?
Discovery Silver's product category is Precious Metals Mining. Its primary akta.pro industry code is IMAKAEAB, Silver Mining, with a secondary code of IMAKAEAA, Gold Mining. Its NAICS code is 21222 and its SIC code is 1040.