Core Insights - Pinnacle Silver & Gold Corp is resuming work on its project in Mexico after a 35-year hiatus, focusing on the Dos de Mayo vein system and historic mine workings [1][5] - The company is utilizing surface and underground sampling to build a clearer understanding of mineralization, likening the process to assembling a jigsaw puzzle [2][6] Project Overview - The La Dura mine, one of three sampled sites, has provided valuable data despite its small size, helping to define mineralization exposure [3][10] - The company plans to drill between the three mine areas to assess potential connections and continuity of mineralization [3][7] Sampling Results - High-grade assays have been recorded, with surface samples reaching up to 2,000 grams per tonne of silver and underground samples at Pinos Cuates showing up to 85 grams per tonne [3][9] - The La Dura mine's underground workings are limited to just over 12 meters, but sampling has allowed for further exploration and drilling to determine the extent and average grade of mineralization [10]

Core Insights - Honey Badger Silver Inc. has identified a new gold and silver zone named "Canela" at its 100% owned Plata Project in the Yukon, following a successful soil sampling and prospecting program [1][2][3] Company Developments - The Canela zone is the first discovery from the summer exploration work at Plata, supporting the thesis of exceptional mineral endowment at the site [2] - The Canela zone is approximately 1 km in strike length and features soil samples with values up to 38.6 g/t silver and 0.27 g/t gold, marking the highest gold-in-soil values recorded at Plata to date [4] - Historical soil sampling had previously indicated anomalous silver values in the Canela area, but gold was not analyzed until this summer's program, which expanded the anomalous results significantly [4] Exploration Background - The summer fieldwork program included 1,027 soil samples and 115 rock samples aimed at identifying new silver and gold zones across the Plata property [3] - The Canela zone appears to be trending WNW-ESE and shares geochemical similarities with the nearby high-grade Ajo zone, located approximately 800 m to the northwest [4] Future Plans - The company plans to report remaining results from the 2025 summer work program soon and will continue to analyze new assay data alongside historical data to prepare for follow-up fieldwork and drilling in 2026 [8] Project Overview - The Plata Project is located in the Tombstone Gold Belt and has a history of high-grade silver production, with approximately 290,000 ounces of silver mined from high-grade veins [9] - The company is exploring the potential for a larger gold deposit in addition to the existing high-grade silver vein potential, drawing parallels to the nearby Keno Hill Silver Mine [9]

Financial Data and Key Metrics Changes - Record attributable free cash flow of $251.7 million in Q3 2025, benefiting from increased silver and gold prices and solid cost performance [4] - Attributable revenue reached a record of $884.4 million, with net earnings of $169.2 million or $0.45 basic earnings per share [5] - Adjusted earnings were $181 million or $0.48 basic adjusted earnings per share, with attributable cash flow from operations at a record of $323.6 million [5][6] - Cash and short-term investments totaled $910.8 million, with total available liquidity of $1.7 billion [6] Business Line Data and Key Metrics Changes - Attributable silver production in Q3 was 5.5 million ounces, including 580,000 ounces from Juanicipio's one-month contribution [7] - Silver segment cash costs were $10.41 per ounce, and all-in sustaining costs were $15.43 per ounce, lower than Q2 2025 [9] - Attributable gold production was 183,500 ounces, with gold segment cash costs at $1,325 per ounce and all-in sustaining costs at $1,697 per ounce [10] Market Data and Key Metrics Changes - The company raised its attributable silver production guidance to 22-22.5 million ounces and lowered silver segment all-in sustaining costs to $14.50-$16 per ounce [11] - The quarter benefited from high byproduct gold production and prices, contributing to lower costs [9] Company Strategy and Development Direction - The acquisition of MagSilver is expected to lower costs and improve margins, with a strategic focus on the Juanicipio mine [4] - Development plans at La Colorada include a phased approach to enhance project value, with a PEA expected in Q2 2026 [12][28] - Optimization studies at Jacobina aim to improve operational efficiencies and mine life, with several projects underway [13][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving Q4 guidance despite challenges in Q3, with expectations for improved gold production [25][31] - The company anticipates a strong Q4 report and plans to provide detailed guidance for 2026 early next year [55] Other Important Information - The board approved an increase in the dividend to $0.14 per common share for Q3 2025, reflecting strong cash flow generation [6][48] - The company is actively engaged in partnership discussions for the La Colorada Scarn project, with significant resource potential identified [12][26] Q&A Session Summary Question: Guidance increase related to Juanicipio - Management confirmed that the guidance for Juanicipio remains similar to what MagSilver had previously, with no significant changes expected [16] Question: Silver grades and mining strategy at Huarón - Management explained that the current strategy involves increasing development to prepare high-grade stopes, which may lead to more diluted ore in the short term [17][18] Question: Optimization studies at Jacobina - Management detailed ongoing optimization efforts at Jacobina, focusing on plant efficiency and tailings management to enhance production and reduce costs [19][20] Question: Gold production challenges and guidance - Management maintained confidence in achieving gold production guidance for Q4 despite challenges faced in Q3 [25] Question: Partnership discussions for La Colorada Scarn - Management indicated that discussions are advanced but too early to share specific details publicly [26] Question: Zinc and lead price performance - Management discussed the factors influencing base metal prices, noting that zinc is included in critical minerals lists, which supports its price [29] Question: Technical issues at various mines - Management acknowledged ongoing technical issues but expressed optimism about resolving them and improving production in Q4 [31][33] Question: Accounting for Juanicipio - Management offered to discuss the accounting details for Juanicipio offline, noting complexities in reporting [42][43] Question: Dividend policy and future expectations - Management clarified that the recent dividend increase was a one-time decision based on strong cash flow, with future dividends to be evaluated based on performance [48][49]

La Guitarra Mine Operations & Expansion - Full commercial production at La Guitarra Mine commenced on January 1, 2025[13, 27] - Q3 2025 sales reached 153,583 silver equivalent ounces[13] - Q3 2025 revenues totaled $5.5 million[13] - Gross profit for Q3 2025 was $1.7 million[13, 47] - A C$19.5 million private placement closed in July 2025 to fund plant expansion[13, 40] - Expansion plans aim to increase capacity by +50% to 750-800 tonnes per day by Q2 2026 and +100% to 1,200-1,500 tonnes per day by Q3 2027[48, 49, 51] La Guitarra Resource Estimate - The 2023 resource update shows 272 million silver-equivalent Measured & Indicated ounces, a 373% increase[31] - Inferred resources are 202 million silver-equivalent ounces, a 204% increase[31] Tepic Project Exploration - Exploration at Tepic Project indicates a potential strike length of over 15 km[75, 76] - Historical ore shoots in the East District measure up to 750 meters in length and 1-4 meters in thickness[57] Financials & Share Structure - Current assets, including cash, were $16.9 million as of September 30, 2025[84, 93] - A $5 million loan from First Majestic Silver bears interest at 15% per annum[64, 71, 84]

Core Viewpoint - Silver Tiger Metals Inc. has announced a bought deal offering of 54,800,000 common shares at C$0.73 per share, aiming to raise approximately C$40 million for exploration and development of its El Tigre project and general corporate purposes [1][2]. Group 1: Offering Details - The offering is led by a syndicate of underwriters including BMO Capital Markets and Stifel Nicolaus Canada, with an option for the underwriters to purchase an additional 15% of the offering for over-allotments [1]. - The expected closing date for the offering is around November 26, 2025, pending necessary regulatory approvals [1]. Group 2: Use of Proceeds - Net proceeds from the offering will be allocated to the exploration and development of the El Tigre project, as well as for general corporate purposes [2]. Group 3: Company Background - Silver Tiger Metals Inc. is a Canadian company with over 27 years of experience in discovering and building large hydrothermal gold and silver mines in Mexico [4]. - The company owns the 28,414 hectare Historic El Tigre Mining District located in Sonora, Mexico [4]. Group 4: Project Development - Silver Tiger has been working on the El Tigre Project since 2017, having drilled over 150,000 meters, with significant drilling completed since 2020 [5]. - The Preliminary Economic Assessment (PEA) for the El Tigre open pit was released in November 2023, showcasing robust economic metrics [6]. Group 5: Economic Metrics - The October 2024 Preliminary Feasibility Study (PFS) projects an After-Tax NPV of US$222 million at a 5% discount rate, an After-Tax IRR of 40.0%, and a payback period of 2.0 years [6]. - The project is expected to deliver a life of mine undiscounted After-Tax Cash Flow of US$318 million, with initial capital costs estimated at US$86.8 million [6].

Junior miner Pinnacle Silver & Gold Corp (TSX-V:PINN, OTCQB:NRGOF) is betting that speed pays. With its recently acquired El Potrero project in Durango, Mexico, the company aims to start generating revenue within 24–30 months. As most investors know, that can be a rare proposition for a junior miner in a sector where exploration often stretches for years. “This isn’t about exploration for exploration’s sake,” said CEO Robert Archer, who took the helm in 2021. “Our focus is fast-track to production. The soon ...

Silver Dollar Discovers New Mineralized Zone at the Nora Silver-Gold Project and Receives Drill PermitThe new North Canyon Zone is 1,500m north, and along strike from the historic Candy mine, and 950m north of previously reported surface sampling that returned up to 29.61 g/t gold, 2,215 g/t silver and 3.34% copperNovember 12, 2025 8:00 AM EST | Source: Silver Dollar Resources Inc.Vancouver, British Columbia--(Newsfile Corp. - November 12, 2025) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX ...

Core Viewpoint - GoGold Resources Inc. has announced a bought deal offering of 47,170,000 units at a price of C$2.65 per unit, aiming for gross proceeds of approximately C$125 million, with the offering expected to close around November 27, 2025, pending regulatory approvals [1][4]. Group 1: Offering Details - Each unit consists of one common share and half of one common share purchase warrant, with each warrant exercisable at C$3.50 per share for three years from the closing date [2]. - The underwriters have an option to purchase up to an additional 15% of the offering for over-allotments within 30 days post-closing [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for exploration and development of the Los Ricos projects and for general corporate purposes [4]. Group 3: Company Overview - GoGold Resources is a Canadian-based silver and gold producer focused on high-quality projects in Mexico, operating the Parral Tailings mine and developing the Los Ricos South and North projects [6].

Summary of Avino Silver & Gold Mines Ltd Conference Call Company Overview - **Company**: Avino Silver & Gold Mines Ltd (NYSEAM:ASM) - **Incorporation**: Founded in 1968, with significant historical context provided by the CEO David Wolfin, who has been involved since the mine's construction in 1974 [2][3] Industry Context - **Mining Sector**: Focus on silver production, with a bullish outlook on silver prices, which have increased by 70% since the beginning of the year [17] Key Financials - **Q3 Performance**: - Revenue: $21 million - Gross Profit: $10 million - Gross Margin: 47% - Net Income: $0.05 per share - Free Cash Flow: $5 million - Cash Costs: $17.09 per ounce, with an All-In Sustaining Cost (AISC) of $24.06 [6][7] - **Cash Position**: Over $60 million in cash, debt-free, with $51 million in working capital [5][7] Production and Growth Plans - **Current Production**: - Avino mine expected to produce 2.5-2.8 million ounces of silver equivalent in the current year [3] - La Preciosa project anticipated to significantly boost silver revenue, with a composition of 90% silver and 10% gold [5] - **Future Growth**: - Aiming for intermediate status with production between 8-12 million ounces per year [5] - Upcoming maiden reserve calculation expected in Q1 [14] Resource Base - **Silver Equivalent Resources**: - Total resource base of approximately 377 million ounces of silver equivalent, with 277 million measured and indicated, and 94 million inferred [4] - **Oxide Tailings Project**: - Pre-feasibility study completed, with a post-tax NPV of $61 million at $23.45 silver and $1,840 gold [13] Operational Highlights - **Mining Method**: Utilizes mechanized long hole sublevel caving, with a unique geological system allowing for low costs [8] - **Community Relations**: Strong focus on community engagement and sustainable practices, including a 100% Mexican labor force [10] Market Position - **Stock Performance**: - Ranked fifth in TSX 30 for top-performing companies, with a stock increase of 610% and market cap growth of 778% over three years [8] - Daily trading volume exceeds $30 million, indicating high liquidity [8] Strategic Focus - **Organic Growth Strategy**: Emphasis on organic growth rather than mergers and acquisitions, with a clear five-year growth plan [15] - **Community Engagement**: Ongoing efforts to establish relationships with local communities, particularly in the context of the Cinco de Mayo project in Mexico [24][25] Conclusion - **Outlook**: Avino Silver & Gold Mines Ltd is positioned for significant growth in silver production, backed by strong financials, a robust resource base, and a commitment to sustainable practices and community relations [15][16]

Summary of Sierra Madre Gold and Silver Conference Call Company Overview - **Company**: Sierra Madre Gold and Silver (OTCPK:SMDR.F) - **Industry**: Mining, specifically silver and gold production - **Location**: Mexico - **Current Production**: Producing silver from La Guitarra mine, with quarterly production between 150,000 and 190,000 ounces since Q4 2024 [1][2] Key Highlights - **Production Achievement**: Successfully put the mine into production on time and on budget, marking a significant milestone for the company [2][6] - **Investor Support**: Welcomed notable investors including Eric Sprott and Fidelity, enhancing the company's financial backing [2] - **Expansion Plans**: Aiming to triple production over the next two years, with plans to increase production capacity from 500 tons per day to 1,500 tons per day [7][9] Financial Performance - **Revenue and Profit**: Generated $5 million in revenue and approximately $1.2 million in net profit in Q2, prior to a surge in silver prices [6] - **Production Costs**: Targeting production costs below $22 per ounce, with potential margins of around $30 per ounce if silver prices remain at $50 [8] Resource and Exploration - **Silver Resource**: Currently holds a resource of 50 million ounces of silver, with plans for 25,000 meters of drilling to increase this resource [5][11] - **Historic Mines**: The company operates in a historically significant silver and gold district with nine historic mines, including the recently opened Coloso and Nazareno mines [4][5] Future Projects - **El Rincón Mine**: Plans to drill at El Rincón, which historically produced silver at 800 grams per ton and gold at 6.5 grams per ton [9][10] - **Tepic Project**: A second project with a resource of about 10 million ounces of silver, but currently not the main focus due to the need for permits [11][14] Management and Ownership - **Management Team**: Includes experienced individuals with a history of successful mine operations in Mexico [3][4] - **Ownership Structure**: Management and founders retain 21% ownership, indicating strong alignment with long-term investor interests [12][13] Market Position - **Valuation**: The company is considered undervalued, with a market cap below CAD 200 million, presenting a potential investment opportunity [12][18] - **Investor Sentiment**: Despite recent market fluctuations, the company is viewed as a good entry point for investors [17][18] Additional Notes - **Permitting Status**: La Guitarra is fully permitted for underground operations, while Tepic requires further permitting [14] - **Support from First Majestic**: First Majestic has been supportive, providing loans and not selling shares on the market, which is seen as a positive for future capital [16][17]