Over the past twelve months, AG’s stock has climbed an impressive 205%, driven primarily by its decision in May 2025 to divest non-core assets in Nevada and Ontario for a combined cash consideration of $280 million. Proceeds from these sales were redeployed into the early-2025 acquisition of Gatos Silver, a high-grade Mexican silver producer, for $1.2 billion. This deal added the Juanicipio Mine—which produced 5.4 million ounces of silver in the first half of 2025 at an average cash cost of $7.20 per ounce—to AG’s portfolio, lifting consolidated silver output by 76% in Q2 2025 versus the prior year. The integration of Gatos assets has also driven a 35% decline in AG’s all-in sustaining costs, enhancing margins at spot silver prices that have risen over 150% year-to-date.