Discovery Silver details management appointments, closes Kidd deal

Discovery Silver Corp. [DSV-TSXV, DSVSF-OTCQX] has announced management appointments in conjunction with the closing of the company’s acquisition of Glencore Canada Corp.’s Kidd Operations near Timmins, Ont.

The appointments include: Dawid Myburgh as Senior Vice President, Timmins Operations, Harold Bird as Vice President, Mineral Processing, and Gertjan Bekkers as Vice-President, Technical Services.

“We are delighted to welcome Dawid, Harold and Gertjan to the executive team,’’ said Discovery CEO Tony Makuch. “They are all accomplished professionals with a proven track record of success in the mining industry,’’ he said. “Dawid and Harold join Discovery from Glencore, where they held senior leadership roles at the Kidd Operations and where they have gained extensive experience working in the Timmins camp. Gertjan brings to the company significant technical services expertise in support of further progress at both our Porcupine Complex and Cordero Project in Mexico.’’

On Tuesday, Discovery shares rose 4.3% or 35 cents to $8.42. The shares trade in a 52-week range of $12.48 and $2.71.

These appointments have been announced after Discovery reported the completion of the previously announced acquisition of Glencore Canada’s 100% interest in the Kidd operations.

They include the Kidd Metallurgical Site, the Kidd Creek copper, zinc and silver mine, and the Kidd Creek Timber Ltd. exploration land package. Discovery has paid Glencore $10 million via the issuance of 1.7 million common shares. Additional consideration includes: The assumption of all financial assurances and environmental and rehabilitation obligations associated with the Kidd Met Site and Kidd Creek Mines, subject to the terms and conditions of the agreement; offtake arrangements related to concentrates produced at the Kidd Creek Mine; a 1.0% net smelter return royalty that would apply to any future mineral production from a large exploration land package held by Kidd Creek Timber Ltd., that is located outside the existing operations; and the reimbursement of certain costs incurred by Glencore with respect to additional work required at the Kidd TMA up to a maximum amount of $75 million, payable in cash or Discovery common shares at the company’s choice.

The acquisition supports Discovery’s vision to more than double gold production in Timmins to over 500,000 ounces per year. It also provides exposure to critical minerals at Kidd Creek Mine, including copper, zinc, and silver (expected production for the remainder of 2026 includes 10-15,000 tonnes of zinc, 5-7,000 tonnes of copper and roughly 400,000 ounces of silver.

Discovery Silver moved to establish itself as a new Canadian gold producer with multiple operations in January 2025. when it announced details of a definitive deal with Newmont Corp. [NEM-NYSE, ASX, PNGX] to acquire the U.S. company’s 100% interest in its Porcupine operations based in and near Timmins, Ont., for US$425 million.

Discovery’s Porcupine Operations cover approximately 1,400 square kilometres in and near Timmins. Porcupine consists of the Hoyle Pond, Pamour and Hollinger mine properties, the Dome mine property and milling facility, and numerous near-mine and regional exploration targets.