Vizsla Silver Corp. (VZLA): Marketing Mix Analysis [Dec-2025 Updated]

You're looking for a clear-eyed view of Vizsla Silver Corp.'s market position, so let's break down the four P's using the latest 2025 project data. Honestly, after their November 2025 Feasibility Study dropped, the story got much clearer: we're looking at a high-grade silver-gold Product with a projected after-tax NPV of $1.8 billion and a lean All-in Sustaining Cost of just $10.61/oz AgEq. I've spent two decades mapping out these development stories, and the key now is seeing how their Place (the 100%-owned Panuco Project in Mexico) and Promotion efforts align with those strong Price metrics. Keep reading; I'll walk you through the precise details of their entire marketing mix right now.

Vizsla Silver Corp. (VZLA) - Marketing Mix: Product

The product offering from Vizsla Silver Corp. centers entirely on the development and eventual extraction of precious metals from its flagship asset, the Panuco silver-gold project in Sinaloa, Mexico. This is a high-grade silver-gold development project, which is the core of the company's value proposition to its stakeholders. The company is advancing this asset with a clear pathway toward becoming a producer.

The mineral inventory, which underpins the entire product, has seen significant upgrades, most recently detailed in the January 2025 update and the November 2025 Feasibility Study (FS). The resource base is substantial, providing the raw material for the future product.

• 222.4 Moz AgEq in Measured and Indicated Resources as of January 2025.
• The total Measured and Indicated Mineral Resources are estimated at 12.96 million tonnes ("Mt") grading 534 g/t AgEq.
• The project also contains an Inferred Mineral Resource of 138.7 Moz AgEq.

The transition from a resource base to an economic product is defined by the Mineral Reserves, which are the only category considered for the mine plan. The Feasibility Study, effective November 4, 2025, established these reserves.

The final physical product that Vizsla Silver Corp. intends to sell is silver-gold doré bars. The company is targeting the start of production in the second half of 2027 (H2 2027).

The expected output from the mine plan, based on the November 2025 FS, is detailed below, showing the scale of the product stream over the mine life.

• Life of Mine (LOM) average annual payable production is projected at 17,383 koz AgEq per year, which is approximately 17.4 Moz AgEq.
• The initial years (Years 1-5) project a higher average annual payable production of 20,078 koz AgEq per year.
• The processing involves a 3-stage crushing-grinding circuit, followed by a leach and Merrill Crowe circuit to produce the final doré bars.

The product is designed for industry-leading economics, with LOM all-in sustaining costs (AISC) of US$10.61/oz payable AgEq on a co-product basis. This low cost structure is a key feature enhancing the value of the physical metal produced.

Vizsla Silver Corp. (VZLA) - Marketing Mix: Place

You're looking at the physical and market access points for Vizsla Silver Corp. (VZLA) as of late 2025. For a mining company, Place isn't about retail shelves; it's about where the resource sits and how the security is traded to bring capital to that resource.

The entire distribution strategy hinges on the flagship Panuco Project, which Vizsla Silver Corp. owns 100%. This asset is the source of the product that will eventually be sold into the global market.

The physical location is key to operational readiness. The Panuco Project is situated in the historic mining district of Sinaloa, Mexico. This location offers significant advantages in terms of existing infrastructure, which helps de-risk the path to production targeted for H2 2027.

The existing infrastructure is substantial, supporting the development timeline following the November 4, 2025 effective date Feasibility Study.

• All-weather access roads are in place.
• High-voltage power is available on site.
• The district has an abundance of skilled local labour.
• The total land package covers over 40,000 hectares.
• The project benefits from 35 kilometers of historic underground mines.

The operational plan, as detailed in the Feasibility Study, relies on this established physical footprint to support planned throughput. The initial processing capacity is set at 3,300 tonnes per day for the first 3 years, scaling up to 4,000 tonnes per day in year 4.

Market access, the other side of Place, is managed through the listing of Vizsla Silver Corp. shares on major exchanges, providing liquidity and access to global capital markets necessary for the development phase.

Here's a look at the trading venues and some recent market metrics as of late 2025:

The company is actively de-risking the physical site by developing a test mine to build a stockpile of mineralized material, which helps smooth the transition once the main mill construction begins, following expected permitting approvals around mid-2026. This physical readiness is a critical component of the Place strategy, ensuring the product can move from resource to market efficiently.

Vizsla Silver Corp. (VZLA) - Marketing Mix: Promotion

Promotion for Vizsla Silver Corp. centered on communicating the successful transition from an exploration-focused entity to a fully financed, near-term developer, primarily driven by the November 2025 Feasibility Study (FS) results.

The release of the Panuco Project FS on November 12, 2025, served as the primary promotional catalyst, de-risking the asset significantly for the market. The key economic takeaways communicated were designed to position Vizsla Silver as a tier-one asset producer. Investor webcasts and presentations, such as the one hosted on November 24, 2025, were used to disseminate these figures directly to the target audience.

The headline economics from the FS, based on a case of US$35.50 per ounce silver and US$3,100 per ounce gold, included:

• After-Tax Net Present Value (NPV) at a 5% discount rate of US$1.8B.
• After-Tax Internal Rate of Return (IRR) of 111%.
• Payback period of approximately 7 months.
• Projected annual production of 17.4 Moz AgEq over an initial mine life of 9.4 years.
• All-in Sustaining Cost (AISC) estimated around US$10.61/oz AgEq.

The promotion also heavily featured the project's capital structure and funding status, which validated the path to production. The initial pre-production capital expenditure (Capex) was cited at US$238M, with the project showing an NPV to Capex ratio exceeding seven times. The company highlighted that it was fully funded, having closed a US$300 million convertible senior notes offering on November 24, 2025, replacing a previously announced debt mandate. This financing, combined with existing cash, provided total financing capacity exceeding US$500 million against the initial Capex of US$224M.

The ongoing development of the fully funded Copala test mine was used as tangible proof of concept, validating future mining methods and de-risking the mine build. As of June 2025, the decline had advanced approximately 125 metres, with crews optimizing rates to achieve around 8 metres per day. The plan included taking a 10,000-tonne bulk sample to confirm metallurgy and reconcile the block model ahead of full construction.

District-scale exploration served as the growth narrative, emphasizing future upside beyond the current mine plan. Vizsla Silver's promotion pointed to the 40,000+ hectare land package, noting that only 30% of the mapped vein strike, which totals approximately 88.5 kilometers, has been drill-tested. This exploration work supports the resource base, which as of January 2025, stood at 222.4 Moz AgEq in the Measured and Indicated categories.

Analyst sentiment was a key component of the promotion, signaling external validation of the company's strategy and economics. As of late 2025, Vizsla Silver Corp. maintained strong coverage, with consensus ratings leaning heavily toward the positive.

The promotion effectively linked the de-risking milestones to the financial performance and analyst endorsements, creating a narrative of a company moving decisively toward production.

Vizsla Silver Corp. (VZLA) - Marketing Mix: Price

You're looking at the core financial metrics that underpin the perceived value and competitive pricing power for Vizsla Silver Corp. (VZLA) as of late 2025. The price element here isn't about a direct consumer sale, but rather the project's inherent economic attractiveness, which dictates future capital raising terms and ultimately, the valuation that supports the stock price.

The November 2025 Feasibility Study (FS) on the Panuco project provides the bedrock for these figures. This study is what gives investors confidence in the underlying asset's ability to generate returns, which is critical when considering the capital required to bring it online.

Here's the quick math on the project's expected cost structure and value:

The pricing strategy for Vizsla Silver Corp. is intrinsically linked to keeping its operating costs low relative to prevailing metal prices. An AISC of US$10.61/oz AgEq is positioned to generate strong operating margins, even if metal prices soften from the base case used in the study.

On the corporate finance side, the company has taken steps to ensure the CAPEX can be covered without excessive shareholder dilution, which directly impacts the per-share value proposition. This financing strength helps maintain a competitive position against peers still seeking development capital.

• Market Capitalization as of December 2025: approximately $1.71 billion.
• Total Financing Capacity secured for production: US$450 million.
• Shares Outstanding (Basic, Dec 2025): 344.09 million.
• Stock Price Volatility (Beta 5Y): 1.70, indicating higher price movement than the market average.

The market capitalization of $1.71 billion reflects the market's current assessment of the Panuco project's value, factoring in the recent FS results and the secured funding structure. This valuation is the current market price you must pay to acquire a stake in the company's future production profile.

Finance: draft 13-week cash view by Friday.