Discovery Silver Corp.

TSX:DSV Stock Report

Market Cap: CA$7.2b

Discovery Silver Management

Management criteria checks 3/4

Discovery Silver's CEO is Tony Makuch, appointed in Jun 2022, has a tenure of 4.17 years. total yearly compensation is $5.56M, comprised of 16.4% salary and 83.6% bonuses, including company stock and options. directly owns 1.2% of the company’s shares, worth CA$85.88M. The average tenure of the management team and the board of directors is 1 years and 6.8 years respectively.

Key information

Tony Makuch

Chief executive officer

US$5.6m

Total compensation

CEO salary percentage16.37%
CEO tenure4yrs
CEO ownership1.2%
Management average tenure1yr
Board average tenure6.8yrs

Recent management updates

Recent updates

Narrative Update • Jun 01

Valuation Update (June 2026)

This is an updated, simplified FCF-based valuation incorporating all major projects (Porcupine gold production + growth, Kidd infrastructure/optionality, and Cordero silver development). Important Assumptions & Notes (conservative & transparent): Current data (as of late May 2026): ~810M shares outstanding, ~831M fully diluted (FD).
New Narrative • Mar 01

Long Term Mine Reinvestment And Cordero Advancement Will Reshape This Precious Metals Producer

Catalysts About Discovery Silver Discovery Silver is a precious metals company focused on gold production in Canada and advancing the large Cordero silver project in Mexico. What are the underlying business or industry changes driving this perspective?
Narrative Update • Feb 03

2026 Latest Number

🪙 Discovery Silver Corp. (TSX: DSV) Discovery Silver is now a diversified precious-metals story : a producing Canadian gold complex (Porcupine, Timmins camp) plus a tier-1, large-scale silver development project (Cordero, Mexico).
Narrative Update • Sep 23

If silver reaches $75/oz

🪙 Discovery Silver Corp (DSV / DSVSF) – 2025 Update Latest verified info Shares Outstanding (basic): ~801 million shares. ( Discovery Silver Corp.

CEO Compensation Analysis

How has Tony Makuch's remuneration changed compared to Discovery Silver's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

US$195m

Dec 31 2025US$6mUS$911k

US$107m

Sep 30 2025n/an/a

US$36m

Jun 30 2025n/an/a

-US$10m

Mar 31 2025n/an/a

-US$21m

Dec 31 2024US$2mUS$417k

-US$15m

Sep 30 2024n/an/a

-US$14m

Jun 30 2024n/an/a

-US$11m

Mar 31 2024n/an/a

-US$9m

Dec 31 2023US$3mUS$453k

-US$12m

Sep 30 2023n/an/a

-US$15m

Jun 30 2023n/an/a

-US$18m

Mar 31 2023n/an/a

-US$24m

Dec 31 2022US$1mUS$205k

-US$30m

Compensation vs Market: Tony's total compensation ($USD5.56M) is about average for companies of similar size in the Canadian market ($USD4.38M).

Compensation vs Earnings: Tony's compensation has been consistent with company performance over the past year.

CEO

Tony Makuch (68 yo)

4yrs
Tenure
US$5,564,539
Compensation

Mr. Anthony Paul Makuch, B.Sc. M.Sc. M.B.A. ICD.D. P.Eng., also known as Tony, serves as Chairman of the Board Discovery Silver Corp. since May 13, 2026 and has been its President and Chief Executive Offic...

Leadership Team

NamePositionTenureCompensationOwnership
Anthony Makuch
Chairman4yrsUS$5.56m1.2%
CA$ 85.9m
Alison White
Chief Financial Officerless than a yearUS$1.62mno data
Jennifer Wagner
Executive Vice President of Corporate Affairs & Sustainability1.2yrsUS$2.54m0.027%
CA$ 1.9m
Eric Kallio
Senior Vice President of Exploration & Growth1.2yrsUS$1.44mno data
Raymond Yip
Chief Information Officerless than a yearno datano data
Bindu Satyajit
Corporate Secretary & Manager of Administrative Services2.8yrsno datano data
Mark Utting
Senior Vice President of Investor Relations2.3yrsno data0.12%
CA$ 8.5m
Amy Hu
Senior Vice President of Legal & Sustainability1yrno datano data
Darin Smith
Senior Vice President of Corporate Development1yrno data0.0043%
CA$ 310.1k
Jose Jabalera
Senior VP of Corporate Affairs and Sustainability of Mexico & President of Minera Titánless than a yearno datano data
Gord Leavoy
Senior Vice President of Mineral Processing1yrno data0.012%
CA$ 863.4k
Dawid Myburgh
Senior Vice President of Timmins Operationsno datano datano data
1.0yrs
Average Tenure
58yo
Average Age

Experienced Management: DSV's management team is not considered experienced ( 1 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Anthony Makuch
Chairman4.2yrsUS$5.56m1.2%
CA$ 85.9m
Barry Olson
Independent Director2.8yrsUS$331.49kno data
William John
Lead Independent Director9yrsUS$364.28k0.18%
CA$ 13.3m
Jeffrey Parr
Independent Director8.8yrsUS$313.28k0.094%
CA$ 6.7m
Moira Smith
Independent Director7yrsUS$313.28k0.18%
CA$ 12.7m
Daniel Vickerman
Independent Director6.8yrsUS$313.28k0.030%
CA$ 2.1m
Lee Hodgkinson
Independent Directorless than a yearno datano data
6.8yrs
Average Tenure
67yo
Average Age

Experienced Board: DSV's board of directors are considered experienced (6.8 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/18 15:18
End of Day Share Price 2026/06/18 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Discovery Silver Corp. is covered by 12 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nicolas DionATB Cormark
Kevin O'HalloranBMO Capital Markets Equity Research
Colin HamiltonBMO Capital Markets Equity Research