Core Insights - Apollo Silver Corp. is advancing the Calico Silver Project, which is recognized as the second largest primary silver deposit in the US, following the US Department of the Interior's inclusion of silver in the 2025 List of Critical Minerals [1][2]. Industry Developments - The US government has added silver to the USGS List of Critical Minerals, highlighting its growing importance for economic and national security, which may lead to enhanced government support for domestic silver mining [1][2]. - The designation of silver as a critical mineral emphasizes its strategic value, especially as the US imported 64% of its silver consumption in 2024, indicating a reliance on foreign sources [2]. Company Updates - Apollo Silver's Calico Project has an updated Mineral Resource Estimate (MRE) of 55 million tonnes at a grade of 71 grams per tonne, totaling 125 million ounces of silver, with an inferred resource of 17.6 million tonnes at the same grade for an additional 58 million ounces [2]. - The inclusion of silver on the Critical Minerals List strengthens the case for the Calico Project under the Fast-41 program, which aims to streamline permitting processes for critical projects [2]. Company Overview - Apollo Silver is focused on developing the Calico Project, which contains significant barite and zinc credits, recognized as critical minerals essential to various sectors in the US [5]. - The company also holds an option on the Cinco de Mayo Project in Mexico, which features a high-grade carbonate replacement deposit [5].

Financial Performance - Sales increased by 38% year-over-year to $251.4 million in Q3 2025[11, 12] - Operating income increased significantly by 204% year-over-year to $154.6 million[16] - Net cash from operating activities before working capital was $113.9 million, or $0.37 per share[3, 16] - Free cash flow from ongoing operations reached $73.4 million, up from $57.4 million in Q2 2025[3, 16] Production and Operations - Q3 production from continuing operations was 72,462 GEO (Gold Equivalent Ounces)[3, 5] - Séguéla Mine produced 38,799 ounces of gold with cash costs of $688/oz Au and AISC of $1,738/oz Au[5] - Lindero Mine produced 24,417 ounces of gold with cash costs of $1,117/oz Au and AISC of $1,570/oz Au[5] - Caylloma Mine produced 233,612 ounces of silver with cash costs of $17.92/oz Ag Eq and AISC of $25.17/oz Ag Eq[6] Diamba Sud Gold Project - The PEA (Preliminary Economic Assessment) for Diamba Sud projects an initial 3-year average production of 147,000 ounces of gold[6] - The Diamba Sud PEA estimates construction capital costs of $283.2 million[6] - The Diamba Sud PEA indicates an after-tax NPV5% of $563 million and an after-tax IRR of 72% at a gold price of $2,750/oz[6, 7]

Core Points - Rio Silver Inc. intends to settle $293,250 of indebtedness through the issuance of 1,396,428 common shares at a deemed price of $0.21 per share and 420,238 common share purchase warrants [1][2] - The common shares issued to non-arm's length creditors will total 976,190 shares, with no warrants issued to them [1] - Each warrant is exercisable into a common share at a price of $0.28 per share for a period of three years from the date of issue [2] - The transaction is subject to approval from the TSX Venture Exchange and will help improve the company's working capital deficiency [2]

Financial Data and Key Metrics Changes - The company reported record Q3 silver production of 3.9 million ounces, with year-to-date production reaching 11.3 million ounces [10] - Revenues for the quarter were also at a record level, contributing to a cash flow of $140 million and a cash position exceeding $560 million [10][16] - EBITDA reached another record of $128 million, indicating strong operational performance [19] Business Line Data and Key Metrics Changes - The company is on track to meet its guidance of over 30 million silver equivalent ounces for the year, with a breakdown of 55% silver, 35% gold, and 10% lead and zinc [12] - Significant improvements were noted at the San Dimas operation, with production increasing and costs decreasing, returning to budget after previous challenges [14] - At La Encantada, a transition to sub-level caving is expected to reduce costs and enhance operations by Q1 2026 [15] Market Data and Key Metrics Changes - The company maintained a strong inventory level, holding 758,000 ounces of silver and nearly 4,000 ounces of gold, representing $50 million in potential revenue [16][17] - Marketable securities valued at $140 million as of September 30, indicating substantial liquidity [18] Company Strategy and Development Direction - The company is focused on operational efficiencies and cost reductions while continuing to explore and develop its assets, particularly at Los Gatos and Santa Elena [12][13] - Plans to increase throughput at Los Gatos to 4,000 tons per day are underway, with further guidance expected in January 2026 [12][21] - The company aims to enhance its exploration efforts, particularly at Jerritt Canyon, with updates anticipated by early 2026 [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a strong Q4 and ending 2025 positively, despite ongoing tax issues that are not viewed as material to the business [10][11] - The company is actively working with the Mexican government to resolve a long-standing tax dispute, with no significant changes expected in the near term [4][6] Other Important Information - The company has a solid dividend policy in place, with potential for increases depending on future performance [20] - Safety and sustainability performance have improved, positioning the company favorably within the mining sector [18] Q&A Session Summary Question: Are you doing any share buyback at these prices? - The company confirmed that share buybacks were conducted recently, indicating active management of capital [23]

Financial Data and Key Metrics Changes - The company reported record Q3 numbers, with silver production reaching 3.9 million ounces and year-to-date production at 11.3 million ounces [10] - Revenues for the quarter were also a record, contributing to a cash flow of $140 million and a cash position exceeding $560 million [10][19] - EBITDA reached another record of $128 million, indicating strong operational performance [19] Business Line Data and Key Metrics Changes - The company is on track to meet its guidance of over 30 million silver equivalent ounces for the year, with a breakdown of 55% silver, 35% gold, and 10% lead and zinc [12] - Significant improvements were noted at San Dimas, with production increasing and costs decreasing, bringing the operation back within budget [14] - At La Encantada, a transition to sub-level caving is expected to reduce costs and enhance operations by Q1 2026 [15] Market Data and Key Metrics Changes - The company maintained a strong inventory level, holding 758,000 ounces of silver and nearly 4,000 ounces of gold, representing $50 million in potential revenue [16] - Marketable securities amounted to $140 million as of September 30, contributing to the company's liquidity [18] Company Strategy and Development Direction - The company is focused on operational efficiencies and cost reductions while continuing to enhance its production capabilities [3][10] - The integration of the Los Gatos acquisition is progressing well, with plans to increase throughput to 4,000 tons per day [12] - Exploration efforts at Santa Elena have yielded two major discoveries, which are expected to extend the mine's life significantly [13] Management's Comments on Operating Environment and Future Outlook - Management views the ongoing tax dispute with the Mexican government as non-material and continues to work towards resolution [4][6] - The company is optimistic about ending 2025 on a positive note, anticipating a strong Q4 performance [10] - Management emphasized the importance of focusing on operational achievements rather than sensationalized media reports [3][8] Other Important Information - The company plans to provide further guidance in January 2026 regarding its budget and production targets [12][21] - Safety and sustainability performance have improved, positioning the company favorably within the mining sector [18] Q&A Session Summary Question: Are you doing any share buyback at these prices? - The company confirmed that share buybacks were conducted recently [23]

Financial Data and Key Metrics Changes - The company reported a record silver production of 3.9 million ounces for Q3 2025, with year-to-date production reaching 11.3 million ounces [11] - Revenues for the quarter were also at a record level, contributing to a cash flow of $140 million, and the company holds over $560 million in cash [11] - EBITDA reached a record of $128 million, indicating strong operational performance [19] Business Line Data and Key Metrics Changes - The company is on track to meet its guidance of over 30 million silver equivalent ounces for the year, with a breakdown of 55% silver, 35% gold, and 10% lead and zinc [13] - Significant improvements were noted at the San Dimas operation, with production increasing and costs decreasing, now operating within budget [15] - At La Encantada, a transition to sub-level caving is expected to reduce costs and improve operations by Q1 2026 [15] Market Data and Key Metrics Changes - The company maintained a strong inventory level, holding 758,000 ounces of silver and nearly 4,000 ounces of gold, representing $50 million in potential revenue [16] - Marketable securities valued at $140 million as of September 30, 2025, contribute significantly to the company's liquidity [19] Company Strategy and Development Direction - The company is focused on operational efficiency and cost reduction while continuing to explore and develop its assets, particularly at Los Gatos and Santa Elena [14][15] - The integration of systems from the Los Gatos acquisition is progressing well, with plans to increase throughput to 4,000 tons per day [14] - Future guidance for 2026 will include updates on production and cost strategies [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a strong Q4 2025, building on the positive results from Q3 [11] - The ongoing tax dispute with the Mexican government is not viewed as a material issue, and management is focused on operational performance rather than tax concerns [5][7] - The company is optimistic about exploration results, particularly at Santa Elena, which could extend the mine's life significantly [14] Other Important Information - The company plans to update resource estimates at the Navidad project in March 2026, indicating ongoing exploration and development efforts [21] - The dividend policy remains intact, with potential for increases depending on future performance [20] Q&A Session Summary Question: Are you doing any share buyback at these prices? - The company has conducted share buybacks recently, indicating confidence in its stock value [22]

Financial Performance - Q3 2025 silver production reached 3.9 million ounces, a 96% year-over-year increase [19] - Q3 2025 silver equivalent production was 7.7 million ounces, and year-to-date production was 23.2 million ounces, representing 73% of the revised guidance mid-point [15] - Record Q3 2025 quarterly revenue of $285 million, up 95%, driven by higher production (+$73 million) and higher metal prices (+$66 million) [15] - Record Q3 2025 cash flow from operations was $141 million ($0.29/share) [15] - The company ended Q3 2025 with a record cash position of $569 million, including $435 million in cash and cash equivalents and $133 million in restricted cash [15] - All-in sustaining costs (AISC) decreased by 1% year-over-year to $20.90 per silver equivalent ounce [19] - The company returned $12 million to shareholders year-to-date in Q3 2025, including $7.3 million in dividends and $4.3 million in share buybacks [15] - Available liquidity stands at $682 million, excluding $133 million in restricted cash [31] Operational Updates - The company is on track to achieve upwardly revised 2025 production guidance [20] - The company is converting to owner haulage at La Encantada Silver Mine to support increased mill throughput rates [23] Other Considerations - The company achieved a 30.0 ESG risk rating with Sustainalytics, placing it in the Medium risk category and in the top 40% of its peer group [28]

Group 1 - The article does not provide any specific content or key points related to a company or industry [1]

Core Viewpoint - Silver Spruce Resources Inc. has completed a share consolidation, reducing its outstanding common shares significantly [1] Group 1: Share Consolidation Details - The consolidation ratio is one post-Consolidation Common Share for every fifteen pre-Consolidation Common Shares [1] - The number of issued and outstanding Common Shares has decreased from 324,152,832 to 21,610,189 [1]

Core Viewpoint - Santacruz Silver Mining Ltd. is positioned to benefit from rising silver prices through increased production, which is central to the investment thesis for the company [1]. Company Overview - Santacruz Silver Mining Ltd. operates mines in Mexico and Bolivia, focusing on silver production [1]. Investment Thesis - The investment thesis is based on the expectation that rising silver prices will lead to increased production, thereby enhancing the company's financial performance [1].