I called Umm Hadid. But again, the real driver is Peru. Peru's got such big potential for us. Arguably, we don't need anything else, but here we are. We're getting 90% of our revenue from silver. That puts us among the top silver producers in terms of percentage revenue. So right there, that makes Kuya a very special company. What I think that means, practically speaking for you as an investor, is that when we do get a little further along and we're being valued on EBITDA or cash flow or NPV, whatever metrics you want to use, we should trade at a premium to our peers, both because of our silver exposure that we give investors is quite unique, and also because of the huge growth profile, both in production and exploration, which I'll explain how we're going to do that. We're largely de-risked.
The biggest risk you have in mining is time, and the fact that we're already producing fully permitted mine in a mining-friendly jurisdiction, again, puts us well ahead of the game. We've a really strong balance sheet, actually more than CAD 30 million in Canadian cash. It's $25 USD, so about CAD 35, and no debt. We've got a multi-year growth plan. This is really exciting as well because we do have a lot of catalysts in the short term that I think are going to be positive as we report our progress on ramping up the mine and the exploration program over the next three months, six months, et cetera. But we're really building this company to compound with growth over many, many years as we expand this Bethania district. So just keep that in mind, and I'll talk more about that a bit later.
Capital discipline, no near-term need for financing. Again, we're fully financed for all the growth that we want or need to do at Bethania, and to get the mine to the point where it's basically paying for its own growth. The valuation upside is absolutely huge, where after the sell-off this past week, we're sitting at about a $65 million U.S. enterprise value. So, getting some production and getting valued on that, the upside is just huge if you look at where our peers are trading. In the interest of time, I'm going to breeze through this. But here's where we're located, central Peru. You can see the red Bethania, the red crossed hammers there. We process at the Camila plant, about 150 km away at the moment. We're going to build our own plant at site as well.
And we're in this very well-defined mining camp in central Peru with lots of other silver, lead, zinc, and gold mines around us. It's probably the most important slide in the deck. It's our 100/100 Plan. So this is how we think about our medium to long-term growth with the Bethania project. Obviously, in the short term, the rest of 2026 and early 2027, we're ramping up the mine, and that's really a very big focus for us day to day right now, getting to that 350 ton. That's what we're permitted to produce at the mine. So we want to get to that level to maximize the production, producing over 1 million oz a year of silver, and also we're now starting our drill program, which is really exciting. So a lot of things are firing at Bethania right now.
One thing about producing 1 million oz a year, we think at CAD 60 silver, we are going to have very, very expansive margins on that. We do not have a recent study, so I will not go into any more detail, but I would be happy to discuss that offline with you after. Needless to say, I think the valuation upside at 1 million oz is into the many hundreds of millions of dollars of market cap.
Of course, we are well below 100 today. There is huge upside, and that is very short term. That is in the next few quarters. Longer term, as we look into later into 2027 and beyond, the plan will be to finish this drill program, update the resource, then we will decide how big the next phase of Bethania is going to be. Will it be 1,000 tons per day? Will it be more?
We will be able to answer more of those questions later in 2027, and then start to put a plan together in place. Again, I expect that to be fully funded, both the plant expansion and the mine expansion, and further exploration should be fully funded by our cash flow, which by then will be quite substantial. We keep building this. The 100/100 Plan comes from 100 million oz of silver resource as a goal and CAD 100 million a year of cash flow or EBITDA as a goal. We will not get there in 2027, but certainly in 2028 or beyond, depending on the silver price, it is definitely quite realistic. One of the ways that we are going to get this 100/100 Plan done is through intensive exploration, which we have never really been able to do until now. Up until late last year, we were very undercapitalized.
Fortunately, with the stronger markets, we were able to address that. That is the main reason we are sitting on so much cash today, and we are going to put some of that cash into drilling. We have not drilled in five years at Bethania. I cannot believe it myself. We are very excited. The drills are turning now. This is our entire land package. During the tough years in between going public and 2025, we were able to put together this large land package. We sent our geologists out into the field, and they have been able to identify six more silver vein systems outside of the Bethania mine.
They all appear to be distinct silver vein zones or systems, which we have done hundreds of samples on all of them, lots of mapping, and there is some evidence of artisanal mining as well, past artisanal mining, so that is a good clue. We really believe all six of these could be resources and maybe mines for us down the road, feeding that centralized mill at Bethania. Zooming in now, you can see that the Bethania mine is the biggest footprint right now. That is because we have done the most work there. Obviously, that is where we are mining. That is our home base for the moment. That is where the mill is going to be.
We do have Carmelitas Main, Millo cocha Oeste, and Tito, both of which have similar size and scale to Bethania in terms of their footprint on surface, where we are mapping the veins and where we are taking those samples. The other three look to be a little smaller, but you never know what happens as you go underground. We are going to start with the bigger ones in terms of our surface drill program, and we are also doing an extensive drill program underground at the same time. The total is 20,000 m, just started last week, and half of that will be underground, half of that will be on surface. In terms of the underground drilling, we are going to drill below where our current resource is. That Bethania maiden resource, the red triangle there, again, five years old.
We did that drilling originally, 5,000 m in 2021 to get 14 million oz inferred, plus indicated silver equivalent. There has been several million ounces mined out of this. This was a past producing mine before we got there. Plus, we have made some new discoveries in that same area since the resource. If you add the mined-out stuff, the new resources or the new potential veins, plus what is there now, you are somewhere in the 20 million oz of geological endowment before any mining took place.
That is open at depth and open along strike. We have got two rigs drilling the depth extension, and if we go down another 200 m, we expect to get basically the same as what is above, which would be roughly 20 million oz. Then off to the east, we have got the extension of the veins on the other side of the hill there.
We call that the Hilltop Zone, and we are going to drill off to the east and test that as well. When you look at both the depth potential plus what could be in the other side of the hill as you extend off to the east, you are looking at many tens of millions of ounces that we can add here just with this current drill program. Then we will take the other 10,000 m. We are going to run a couple of surface rigs.
Oh, I lost. Okay. I am going to go back for a second. Probably one of the rigs, or not probably, one of the rigs we are going to do is on Carmelitas Main. That is the project we are setting up first for drilling. Then we will likely choose one of the other two, Millococha Oeste or Tito, for some drilling as well in early 2027.
Lots of news coming out on drilling. The resource growth is a really important part of our valuation. I think it will just add to what kind of multiple we trade at. Because once we can demonstrate that we have got many years of production, that we have got that expansion potential, much like some of our peers, bigger silver companies out there have done this, and we are really following in their footsteps. I have got a couple of minutes I can just quickly cover Silver Kings and Umm Hadid. Silver Kings is a huge property in the Cobalt Camp. No resources at the moment, but we did make a new discovery a couple of years ago with drilling. We decided to stop drilling there, focus on Bethania in 2025. However, we have been able to sample some of the surface material there.
Because our property covers a lot of old mines, we have tailings, we have low-grade stockpiles, and those, of course, still contain silver and sometimes cobalt as well. We have a press release a couple of months ago with the sampling for that. In particular, I personally think the tailings look pretty interesting because some of these tailings are as much as 80 or 100 years old, where they couldn't recover much silver, or they left a lot of silver in there. That's something we could look at for a little starter project to get some cash flow and then keep exploring this very exciting district in Northern Ontario. Then finally, Umm Hadid. This is our JV. We have a back-in right.
The deal that we struck with our financing partner, which is our financial partner in Saudi Arabia, is that they're paying for the whole program right now. I think between last year and what we've done this year, we're probably in the 15,000 m-20,000 m range now. We're still drilling there. We've got a few more meters to go this year, and then we're going to look at, see what we've got, and then plan a 2027 program, both potentially resource and perhaps some economics on some early mining scenario there. It's been going very well. The fact that we're able to move it that quickly is because we've been successful with the drill, and that's really been driven by our team, the Kuya team supervising and the drill strategy and the exploration plan here.
If you look at our press release from a couple of weeks ago, we've got a really good update here, and I would encourage you to look at what we're drilling there. Got high-grade core, again, dominantly silver with some low grade around it that potentially could be open pitable. We'll see. We need to do more drilling, but it's looking very good, and we're excited about that. If we back in, we can buy a 45% interest in the project for very cheap, a very good deal. Then we would be 45/55 partners with our Saudi partner there. That's it. Leave you with the capital structure. We're sitting with 195 million shares and some great investors on the books already and hopefully more to come.
We do have a few minutes for questions. If you have a question, please raise your hand so a microphone can be brought forward. At the front here.
Thank you very much. I was just wondering, is it just incidental shipments right now to the Camila mill from Bethania? When do you think you will be into steady state shipments and how many tons a day or whatever?
Right now the Camila mill can do 150 tons per day. We are helping them expand that, and that expansion should be done fairly soon, in the next few months, if not maybe early 2027, to at least 250 tons per day. Right now what we do is we mine and stockpile our mineralized material at site, and then we truck it to Camila in batches. Once we get closer to 150 tons per day, that will essentially be constant because we will be constantly filling the mill. Then we will continue to do that as it expands to 250 tons per day. Now, because we are planning to mine 350 tons per day, there is 100 ton per day gap there, which we will address one of two ways.
Either we can find, if we really need the cash flow from that, we could go to another third-party mill and just toll that 100 tons a day somewhere else. Or my preferred route would be just to stockpile it, and we will start processing it once we have our own mill completed towards the end of next year. I don't think we need to sell every single ton that we mine, given the silver price, given our financial strength, our strong balance sheet. I don't think we need to sell every ton right now. So we do have that option to stockpile. Yep.
Right. It's a land position to the west of Bethania. There's a big block which apparently you don't control and I'm curious if you could give us a little more color on that.
Yeah, sure. The way the Peruvian system works now with the new, I think it is post-2016, is one by one kilometer blocks. That is what you can stake for new claims. Some of what we have was purchased from previous owners, some of which was staked, new claim staking that we have done. There is that block west of the mine we do not have. There is actually two different owners in that. It is about three one-by-one squares. Two of those squares is Fresnillo. One of them is a Chinese company called Hanaq . As far as we are aware, there is not much activity going on in that middle area right now. It is kind of a valley, and then it goes up to another hill where Carmelitas is, where we have more silver veins. Yeah.
We do have a couple of minutes if there is any more questions from the floor. Maybe just a quick one from me then. You are looking to grow fairly significantly in terms of tonnage coming out of the mine. Do you think, in the fullness of time, that the bulk of that tonnage growth is going to be from Bethania or from the more regional targets?
Yeah, that is a great question. One thing I did not touch on was this new ramp we are putting in. It is part of our infrastructure. We are investing in the mine to ramp up production and de-bottleneck what we acquired previously from the previous owners. That ramp, which is 4x 4 m, and it is going to allow truck traffic in and out of the mine, would allow us to ramp up Bethania to something significantly more than 350 tons per day. We will have to see exactly if it is going to be 500, 700, something like that, but it would be on that order, maybe even 1,000. If there is resources there to justify that. With that being said, we also do expect that at least a few of those other satellite vein systems will become mines.
Maybe we will have 100 tons from Carmelitas or 200 tons from Millococha and trucking those all towards Bethania. I think Bethania, at least based on what we know today, does seem to be the largest vein system and has the most tonnage potential in the camp, but that is also just because it is the one that has had the most exploration, the most production, the one that we know the most about. Bethania can definitely produce quite a lot of that, 1,000 tons per day, let us say, most of it. But we do expect to rely on some of those other either pits or underground mines to fill more tonnage.
And maybe in the last 45 seconds that we've got here, silver developers that go into production tend to have a fairly short lifespan in that producers tend to buy them fairly quickly.
Right.
For the access to the silver there. Is it your ambition to build a larger silver company with Canada and Saudi Arabia? Or if somebody came along with the right price, would you step aside?
Yeah. I personally don't think setting up your company to sell is a good business model, but it definitely happens, as you said. I think, look, we're going to drill the resource. I think that's probably the one thing that would hold back an acquisition is the resource right now, the fact that we haven't done enough drilling in the last few years. We're going to address that in the next 12 months and then let's see what happens.
Well, that's the end of our time. Please join me in thanking David.
Thank you.