Toronto, Ontario--(Newsfile Corp. - February 23, 2026) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) ("Honey Badger" or the "Company") is pleased to announce the appointment of Ron Halas, P.Eng., as Chief Operating Officer, effective immediately.Mr. Halas is a professional mining engineer with more than 35 years of experience in mine development, construction, operations, and technical leadership. His career includes senior roles with Lumina Gold, Kinross Gold, IAMGOLD, Vale, Placer Dome and Inco a ...

Key Takeaways EXK and PAAS are riding a 143% surge in silver prices amid strong demand and supply deficits.EXK's Q4 silver output jumped 146% on Terronera and Kolpa, with 2026 AgEq seen up 35%.PAAS expects 2026 silver output of 25-27M oz, up 14% at the mid-point.Pan American Silver Corp. (PAAS) and Endeavour Silver Corporation (EXK) are well-known names in the silver mining sector, sharing several key similarities that define their strategic positioning and investor appeal. Silver prices have skyrocketed 14 ...

We recently published 10 Firms Outperform Wall Street With Surprising Gains. First Majestic Silver Corp. (NYSE:AG)was one of the best performers on Thursday. First Majestic rallied for a second day on Thursday, jumping 9.65 percent to close at $24.78 apiece, as investors cheered its swing to profitability last year, alongside announcements of higher dividends. In an updated report, First Majestic Silver Corp. (NYSE:AG) said that it incurred a net profit of $211 million in full-year 2025, reversing a $10 ...

Core Viewpoint - Hecla Mining Co. has experienced significant fluctuations in silver prices, impacting its stock performance and financial results, but remains optimistic about future earnings potential in various market scenarios [1][3]. Financial Performance - Hecla Mining reported record revenue of $1.4 billion for 2025, reflecting a 53% increase from the previous year [2] - Earnings per share for 2025 were 49 cents, up from 6 cents in 2024, with fourth-quarter earnings at 20 cents compared to breakeven a year earlier [2] Market Outlook - The company anticipates a strong performance in 2026, not solely based on rising silver prices but through strategic planning around multiple price scenarios [3] - At a silver price of $30 per ounce and gold at $2,500, free cash flow is projected to exceed $200 million, while at $75 silver and $4,500 gold, it could surpass $600 million [4] Strategic Confidence - Hecla's confidence is built on three key concepts, although specific details of these concepts are not provided in the text [5] - The company has a history of navigating challenges, including a three-year strike and a fire at its Lucky Friday mine, demonstrating resilience [6] Leadership and Operations - Hecla has undergone leadership changes, hiring Rob Krcmarov, a former executive from Barrick Gold, as CEO to enhance operational focus [7] - The company's assets are located in the U.S. and Canada, where the rule of law is stable, contributing to its operational strength [8]

Core Viewpoint - Bear Creek Mining Corporation has received approval from its shareholders and other voting security holders for the acquisition by Highlander Silver Corp. and the interest deferral agreements with Royal Gold, Inc. and Equinox Gold Corp. [1][2] Voting Results - The acquisition plan required a minimum of 66⅔% approval from Bear Creek Shareholders and Voting Securityholders, which was achieved with 99.41% and 99.43% approval respectively [2][4] - The votes for the acquisition by Bear Creek Shareholders totaled 175,193,313 in favor and 1,041,723 against, representing 99.41% approval [4] - The votes from Voting Securityholders, voting as a single class, showed 183,047,477 in favor and 1,041,723 against, equating to 99.43% approval [4] - For the minority approval requirement, Bear Creek Shareholders approved the acquisition with 75,699,192 votes in favor (98.64%) [4] Interest Deferral Agreements - The special resolution for the Interest Deferral Agreements also received strong support, with 78,492,116 votes in favor (98.65%) from Bear Creek Shareholders, excluding those required for minority approval [5] - The completion of the acquisition and agreements is subject to regulatory approvals from the TSX Venture Exchange, the Toronto Stock Exchange, and the Supreme Court of British Columbia, with an expected closing date in late February [5]

Financial Data and Key Metrics Changes - The company produced 4.2 million pure silver ounces in Q4 and over 15 million for the year, exceeding revised guidance [8] - Revenues reached nearly $1.3 billion for the year, marking a significant financial milestone [9] - The realized silver price for Q4 was just under $59, while the annual average was $41.52 [9] - The company reported record cash flows due to increased metal prices and production [10] - Cash position stood at just under $940 million, with working capital at $733 million [21] Business Line Data and Key Metrics Changes - The mint operation generated just under $23 million in Q4, with annual revenue of nearly $50 million and profitability of about $24 million [9][19] - The company achieved a silver purity of over 60% in Q4, which is a key performance indicator [10][50] Market Data and Key Metrics Changes - The company noted that the silver equivalent production was impacted by a collapse in the silver equivalent ratio towards the end of the year, resulting in a reduction of about 1.4 million silver-equivalent ounces [12] - The company is targeting 13 million to 14 million pure silver ounces for 2026, along with 110,000 to 130,000 ounces of gold [13] Company Strategy and Development Direction - The company plans to continue investing heavily in exploration and production, with a focus on maintaining silver purity [15][50] - The integration of the Gatos asset has been completed successfully, and the company is targeting further cost reductions and resource growth [15] - The company is expanding its plant capacity at Santa Elena and Gatos, aiming for increased throughput [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the volatility in metal prices and the impact on refineries, but stated that it does not affect the company's operations [31] - The company is optimistic about the future, with expectations of continued strength in metal prices and cash flow [24] Other Important Information - The company declared an increase in its dividend policy, doubling it from 1% to 2% of top-line revenue effective 2026 [22][23] - The company is focused on safe production, achieving world-class safety metrics [18] Q&A Session Summary Question: Any quantifiable issues related to costs or shipments this quarter? - Management noted that refineries have suspended financing, impacting smaller producers but not affecting the company [31] Question: Plans for cash allocation and Jerritt Canyon? - Management is considering capital returns to investors and is actively discussing a tax issue that has been pending since 2012 [38] Question: Clarification on realized silver price? - The realized price includes adjustments from concentrate sales and the mint's higher average price [40][45] Question: Plans to expand First Mint? - Management confirmed plans for expansion of the mint facility, which has shown rapid growth [48] Question: Any updates on Jerritt Canyon? - Management plans to provide a standalone update on Jerritt Canyon before the end of the quarter [52]

Financial Data and Key Metrics Changes - The company produced 4.2 million pure silver ounces in Q4 and over 15 million for the year, exceeding revised guidance [8] - Revenues reached nearly $1.3 billion for the year, marking a significant financial milestone [9] - The realized silver price for Q4 was just under $59, while the average for the year was $41.52 [9] - Record cash flows were reported, attributed to increased metal prices and production [10] - The company held just under $940 million in cash, with working capital at $733 million [21] Business Line Data and Key Metrics Changes - The mint operation generated just under $23 million in revenue for Q4, with profitability of about $24 million for the year [9][19] - The exploration program included over 250 kilometers of drilling, with positive results expected to be reflected in the Annual Information Form [10][24] - The company achieved a silver purity of over 60% in Q4, continuing to improve its position as a pure silver producer [10] Market Data and Key Metrics Changes - The company noted that the silver equivalent ratio collapsed towards the end of the year, impacting production and costs [12] - The market for silver has shown volatility, affecting refineries and retail buyers, but the company remains unaffected due to its financing structure [31] Company Strategy and Development Direction - The company plans to maintain a focus on silver purity while exploring potential acquisitions to enhance its portfolio [51] - There are ongoing investments in plant expansions, particularly at Santa Elena, with a target to increase throughput [17] - The company is also targeting robust production for 2026, with guidance set for 13-14 million pure silver ounces [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong cash flow and a favorable market environment for silver prices [21][24] - The company is actively addressing a pending tax issue that has been ongoing since 2012, with hopes to resolve it in 2026 [38] - Management highlighted the importance of safe production and maintaining world-class safety metrics [18] Other Important Information - The company declared an increase in its dividend policy, doubling it from 1% to 2% of top-line revenue effective 2026 [22] - The company is focused on expanding its mint operations, which have shown rapid growth since inception [48] Q&A Session Summary Question: Any quantifiable issues related to costs or shipments this quarter? - Management noted that refineries have suspended financing, impacting retail buyers but not affecting the company directly [30][31] Question: Plans for exploration and availability of rigs? - The company confirmed that it has long-term contracts with drilling contractors, ensuring contained costs and availability of rigs [33] Question: Thoughts on cash allocation and potential returns to investors? - Management indicated that while cash is increasing, there are ongoing discussions regarding a tax issue, and they have not ruled out share buybacks [38] Question: Update on Jerritt Canyon and potential restart? - Management stated that a standalone update on Jerritt Canyon will be provided once plans are finalized, with attention now focused on this operation [52]

Financial Data and Key Metrics Changes - The company produced 4.2 million pure silver ounces in Q4 2025, totaling just over 15 million for the year, exceeding revised guidance [7][8] - Revenues reached nearly $1.3 billion for the year, marking a significant financial milestone [9] - The realized silver price for Q4 was just under $59, while the annual average was $41.52, indicating strong pricing strategies [9][10] - Record cash flows were reported, attributed to operational discipline and improved metal prices [10][22] Business Line Data and Key Metrics Changes - The mint operation generated just under $23 million in revenue for Q4, with profitability of about $24 million for the year [9][20] - The company reported a silver purity of over 60% in Q4, which is a key performance indicator [10][51] Market Data and Key Metrics Changes - The company noted a significant increase in marketable securities, rising by about $140 million for the year [21] - The company is experiencing a tight market with volatility affecting refineries, but it does not impact the company's operations as it does not finance its metal [31] Company Strategy and Development Direction - The company is targeting production of 13-14 million pure silver ounces and 110,000-130,000 ounces of gold for 2026, with a focus on maintaining a stable conversion ratio [13][14] - The integration of the Gatos asset has been successful, providing opportunities for cost reduction and resource growth [15][17] - The company plans to expand its plant capacity at Santa Elena from 3,100-3,200 tons per day to 3,500 tons per day by H2 2026 [18] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing improved metal prices and a strong cash position of just under $940 million [22][24] - The company is focused on resolving a pending tax issue that has been ongoing since 2012, with hopes of final resolution in 2026 [38] Other Important Information - The company has doubled its dividend policy effective 2026, increasing from 1% to 2% of top-line revenue [23] - The company is planning to conduct 266 kilometers of drilling across all operations, reflecting confidence in exploration success [24] Q&A Session Summary Question: Any quantifiable issues related to costs or shipments encountered this quarter? - Management noted that refineries have suspended financing, impacting smaller producers but not the company, which does not finance its metal [31] Question: How is the company thinking about cash management and potential capital returns to investors? - Management indicated that while cash is increasing, there are ongoing discussions regarding a tax issue, and they have not conducted share buybacks but have increased dividends [38] Question: Is there any update on Jerritt Canyon? - Management stated that a standalone update on Jerritt Canyon will be provided once plans and numbers are finalized, with a focus on this asset now that Gatos is integrated [53]

Financial Data and Key Metrics Changes - The company reported record net earnings of $452 million in Q4 2025, or $1.07 per basic share, and $980 million for the full year, or $2.56 per basic share, reflecting strong execution and margin expansion from higher metal prices [3][4] - Adjusted earnings were $470 million in Q4, or $1.11 per share, and $959 million for the full year, or $2.54 per share [4] - Attributable free cash flow reached a record $553 million in Q4 and $1.2 billion for the full year [4] - Cash and short-term investments increased by $408 million from Q3, totaling $1.3 billion at year-end, or $1.4 billion including the company's 44% interest in cash at Juanicipio [4] Business Line Data and Key Metrics Changes - Attributable silver production was 22.8 million ounces in 2025, exceeding the top end of the guidance range, while attributable gold production was 742,200 ounces, within guidance [5] - Silver segment all-in sustaining costs were $9.51 per ounce in Q4 and $13.88 per ounce for the full year, below the decreased guidance [5] - Gold segment all-in sustaining costs were $1,699 per ounce in Q4 and $1,621 per ounce for the full year, within guidance [6] Market Data and Key Metrics Changes - The company expects silver production to increase to 25-27 million ounces in 2026, with all-in sustaining costs of $15.75-$18.25 per ounce [10] - For gold, the guidance is 700,000-750,000 ounces with all-in sustaining costs of $1,700-$1,850 per ounce [11] - The silver market is expected to remain in a deficit for the sixth consecutive year in 2026, supporting the company's outlook [13] Company Strategy and Development Direction - The company plans to release an updated technical report for La Colorada in Q2 2026, integrating mine plans and infrastructure with a phased approach to development [8][9] - Increased project capital is planned for La Colorada Skarn and Jacobina, with a focus on exploration and preliminary engineering [12] - The company remains unhedged on both gold and silver, focusing on margin expansion and capital returns to shareholders [14] Management's Comments on Operating Environment and Future Outlook - Management highlighted the favorable metal price environment, which has coincided with increased silver production, driving higher free cash flow [13] - The company is optimistic about the potential for strong free cash flow and high returns of capital to shareholders in 2026 [12] - Management noted ongoing discussions with potential partners for La Colorada Skarn and emphasized the importance of the consultation process for Escobal [29][30] Other Important Information - The company declared a dividend of $0.18 per common share, marking the third consecutive dividend increase [5] - The consultation process for Escobal is ongoing, with the Guatemalan Ministry of Energy and Mines confirming compliance with court orders [10][30] Q&A Session Summary Question: Experience with Juanicipio and sustainability of outperformance - Management expressed satisfaction with Juanicipio's performance, noting strong production and low costs, while acknowledging potential long-term changes in metal grades [16][17] Question: Details on La Colorada Skarn phased approach - Management indicated that the phased approach will focus on higher-grade material initially, with a tonnage range of 10,000-15,000 tons for Phase 1 [19][20] Question: Commitment to Cerro Moro and exploration in Argentina - Management confirmed a willingness to invest in exploration at Cerro Moro, citing positive changes in Argentina and increased capital for exploration programs [22][23] Question: Progress on potential partnership for La Colorada Skarn - Discussions on potential partnerships have progressed, but specific details were not disclosed due to ongoing negotiations [27] Question: Update on Escobal consultation process - Management noted ongoing engagement with the Ministry of Energy and Mines, with encouraging updates from the government regarding the consultation process [30]

Financial Data and Key Metrics Changes - The company reported record net earnings of $452 million in Q4 2025, or $1.07 per basic share, and $980 million for the full year, or $2.56 per basic share, reflecting strong execution and margin expansion from higher metal prices [4][5] - Adjusted earnings were $470 million in Q4, or $1.11 per share, and $959 million for the full year, or $2.54 per share [5] - Attributable free cash flow reached a record $553 million in Q4 and $1.2 billion for the full year [5] - Cash and short-term investments increased by $408 million from Q3, totaling $1.3 billion at year-end, or $1.4 billion including the company's 44% interest in cash at Juanicipio [5] Business Line Data and Key Metrics Changes - Attributable silver production was 22.8 million ounces in 2025, exceeding the top end of the guidance range, while attributable gold production was 742,200 ounces, within guidance [6] - Silver segment all-in sustaining costs were $9.51 per ounce in Q4 and $13.88 per ounce for the full year, below the decreased guidance [6] - Gold segment all-in sustaining costs were $1,699 per ounce in Q4 and $1,621 per ounce for the full year, within guidance [7] Market Data and Key Metrics Changes - The company expects silver production to increase to 25-27 million ounces in 2026, with all-in sustaining costs of $15.75-$18.25 per ounce [10] - For gold, the guidance is 700,000-750,000 ounces with all-in sustaining costs of $1,700-$1,850 per ounce [11] Company Strategy and Development Direction - The company plans to release an updated technical report for La Colorada in Q2 2026, integrating mine plans and infrastructure with a phased approach to development [8][10] - Increased project capital is planned for La Colorada Skarn and Jacobina, with a focus on exploration and preliminary engineering [12] - The company remains unhedged on both gold and silver, focusing on margin expansion and strong cash flow generation [13][14] Management's Comments on Operating Environment and Future Outlook - Management highlighted the favorable metal price environment, with silver expected to remain in a deficit for the sixth consecutive year in 2026 [13] - The company is optimistic about strong free cash flow and high returns of capital to shareholders, while funding exploration and growth projects [12][14] - The management noted that the increase in metal prices is expected to drive superior returns, as evidenced by record earnings and cash flow in Q4 [11][14] Other Important Information - The company declared a dividend of $0.18 per common share, marking the third consecutive dividend increase [5] - Discussions regarding potential partners for the La Colorada Skarn project are ongoing, with a focus on the new phased approach [28] Q&A Session Summary Question: Experience with Juanicipio and sustainability of outperformance - Management expressed satisfaction with Juanicipio's performance, noting strong production and low costs, while acknowledging potential long-term changes in metal grades [17][18] Question: Details on La Colorada Skarn phased approach - Management indicated that the phased approach will focus on higher-grade material initially, with a tonnage range of 10,000-15,000 tons for phase one [20][21] Question: Commitment to Cerro Moro and exploration in Argentina - Management confirmed a willingness to invest in exploration at Cerro Moro, citing positive changes in Argentina and increased capital for exploration programs [22][24] Question: Update on La Colorada Skarn partnership discussions - Management stated that discussions are progressing but did not provide specific details on economic terms [28] Question: Progress on Escobal consultation process - Management noted ongoing engagement with the Ministry of Energy and Mines, with encouraging updates from the government regarding the consultation process [29][30] Question: Juanicipio dividends and financial arrangements - Management clarified that dividends from Juanicipio are paid out of tax-paid retained earnings, with expectations for another dividend soon [36] Question: Consideration of early repayment of senior notes - Management indicated that early repayment of the 2027 senior notes is a consideration, depending on market conditions and liquidity [39]