Sierra Madre Gold and Silver Ltd.
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Climate Goals & Targets
Short-term Goals:
- Initiate test mining at Guitarra mine in Q3 2024.
Environmental Challenges
- Liquidity risk due to lack of operating revenue and dependence on financing.
- Political and economic instability in Mexico.
- Environmental risks associated with mining operations.
- Potential for labor disputes.
- Competition from larger mining companies.
- Cybersecurity threats to automated systems.
- Title disputes or claims on mineral properties.
- Fluctuations in metal prices and other commodity prices.
- Reclamation obligations.
- Access restrictions and equipment availability.
Mitigation Strategies
- Securing equity financing to meet capital requirements.
- Implementing safety management systems to mitigate health and safety risks.
- Investing in technologies and practices for safe tailings storage.
- Maintaining cash balances to meet short-term and long-term obligations.
- Regularly updating cash projections.
- Negotiating agreements with Ejidos to secure surface rights.
- Conducting community relations efforts to maintain social license to operate.
- Implementing measures to address cybersecurity threats.
- Investigating and addressing title issues.
- Refurbishing existing equipment to reduce costs and accelerate potential mine restart.