Stephen Barley, Chairman and CEO of Magma Silver Corp, joins Andy Millette to break down Magma Silver’s Niñobamba silver-gold project in Peru and what the company is building into 2026.

Magma Silver Corp tickers
TSXV: MGMA
OTCQB: MAGMF
Frankfurt: BC21
WKN: A411DV

Recorded on January 5, 2026

In this conversation we cover why Peru remains a top jurisdiction for precious metals, what it takes to permit drill programs and mines, and how Niñobamba’s size, infrastructure and metallurgy could translate into a scalable silver and gold story. Stephen also walks through ownership terms, royalty structure, capital structure, and the catalysts Magma is targeting in 2026, including near term drilling.

Key topics

Magma Silver overview and why the company is focused on silver and gold only

Peru permitting timelines for drilling and mining

Niñobamba project scale and history, including prior work by major miners

Infrastructure and access, community relations, and logistics to market

Metallurgy and a potential heap leach development concept

Share structure, recent financing and strategic investors

2026 plan: drilling, surface work and additional permitting

Chapters
00:00 Intro and disclosure
01:05 Silver and gold market setup
02:47 Why Peru for silver and gold
03:21 Drill and mine permitting in Peru
04:19 Niñobamba size, history and prior work
06:13 Economics and cost profile discussion
07:09 Royalty and ownership terms
08:09 Resource potential discussion and 43-101 constraints
10:22 Nearby operators and regional context
11:12 Infrastructure, access and community relations
12:00 Heap leach concept and shipping logistics
14:21 Share structure and financing, Eric Sprott mentioned
16:55 2026 drilling plans and catalysts
18:20 Where to learn more, tickers and links
19:02 Closing

Guest and company links
Website: https://magmasilver.com/

Investors: https://magmasilver.com/investors/

Investor presentation download: https://magmasilver.com/?ipr_redirect=1

Fact sheet download: https://magmasilver.com/?ipr_redirect=2

News: https://magmasilver.com/news/

LinkedIn: https://www.linkedin.com/company/magma-silver/

X: https://x.com/MagmaSilverCorp

Instagram: https://www.instagram.com/magmasilver

YouTube: https://www.youtube.com/@magmasilver

Host links
Website: https://www.NaturalResourceStocks.net

YouTube Main: https://www.youtube.com/@NaturalResourceStocks

YouTube Clips: https://www.youtube.com/@NaturalResoureStocksClips

X: https://x.com/theandymillette

LinkedIn: https://www.linkedin.com/in/andymillette/

Millettian

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