Santacruz Silver Mining Ltd. reported strong FY 2024 results, with revenues up 13% to $283 million, gross profit soaring 1670% to $57 million, and net income rising 1594% to $165 million. Adjusted EBITDA increased 200% to $53 million, and cash reserves grew 622% to $36 million. Despite a 1% drop in silver equivalent ounces produced, operational improvements and favorable silver prices drove growth.
Golden Minerals Company announced Anil Jiwani as Chief Financial Officer, effective June 1, 2025, succeeding Joe Dwyer, who resigns May 31, 2025. Jiwani, with 20 years of accounting and financial management experience, joins via Avisar Everyday Solutions Ltd., which will provide outsourced accounting services. Jiwani’s expertise is expected to enhance financial operations while reducing costs.
Canasil Resources Inc. completed and filed its 2023 and 2024 Audited Financial Statements and Annual Reports on SEDAR+, bringing financial filings up to date. The Q1 2025 Quarterly Report will be delayed until June 16, 2025. The Company is working to revoke a Cease Trade Order to resume normal trading and is reviewing its mineral property portfolio.
GR Silver Mining Ltd. closed a non-brokered private placement, issuing 14,190,000 units for $1,844,700. The company paid $104,442 and issued 803,400 finder’s warrants, exercisable at $0.19 for two years. Securities have a hold period until September 28, 2025, per TSXV rules. The offering is not registered under U.S. securities laws.
First Majestic Silver Corp. announced a second significant gold and silver discovery at its Santa Elena property in Sonora, Mexico, within a year. The newly identified Santo Niño vein, located one kilometre south of the Santa Elena mine, and expanded drilling at the Navidad discovery have revealed high-grade mineralization, enhancing the district’s potential and extending mine life.
Guanajuato Silver reported record Q1 2025 results, with mine operating income of $4.8M (up 82%) and revenue of $21.3M (up 12%). Production reached 738,006 AgEq ounces, with cash costs at $19.19 and AISC at $23.41 per ounce. Adjusted EBITDA rose 135% to $4.1M. The company appointed Dan Oliver as Lead Independent Director.
Aztec Minerals Corp. launched a two-phase 2025 exploration program at its Cervantes porphyry gold-copper project in Sonora, Mexico. Phase 1 involves surface sampling and mapping at California East, North, and Brasil targets. Phase 2, post-rainy season, plans drilling to expand the California gold target and test Brasil, aiming to define open-pit, heap leach potential.
Luca Mining Corp. reported a strong Q1 2025 with $4.5M net earnings, $7.6M EBITDA, and $11.7M free cash flow. Record revenues rose 117% to $47.4M, driven by 51% higher gold equivalent production (21,293 ounces). Both Campo Morado and Tahuehueto mines saw significant throughput growth. The company reduced debt by $8.4M, maintaining $24.6M in cash. Exploration continues to show promising results.
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