Month: November 2025

Vizsla Silver Corp. (TSX: VZLA | NYSE: VZLA) announced a proposed US$250M (upsizable to US$300M) offering of convertible senior unsecured notes due 2031. Net proceeds will fund exploration and development at the Panuco silver project, potential acquisitions, and general corporate purposes. A portion will finance cash-settled capped calls to reduce potential dilution upon conversion. Terms including interest rate and conversion rate to be set at pricing.

Torex Gold Resources (TSX:TXG) has received TSX approval to renew its normal course issuer bid (NCIB), allowing the repurchase and cancellation of up to 8,133,430 common shares (approximately 10% of the public float) from November 21, 2025 to November 20, 2026. Purchases will be made on the open market through the TSX or alternative systems, funded from working capital.

Silver Viper Minerals (TSXV: VIPR, OTCQB: VIPRF) announces a non-brokered private placement to raise up to $12M through 15M units at $0.80 each. Each unit includes one share + one $1.20 warrant (24 months; acceleratable at $1.40 VWAP for 20 days). Proceeds for working capital. Closing ~Dec 10, 2025, subject to TSXV approval; 4-month+1-day hold. Up to 6% finder’s fees payable.

VVC Exploration (TSX-V: VVC, OTC: VVCVF) is exiting the Gloria Copper Project in Chihuahua, Mexico due to high costs, political volatility, safety concerns and permitting uncertainty. The Company will focus mining efforts on the promising Cumeral Gold Project in Sonora (1,665-ha, 4km gold trend with historical high-grade samples) and redirect resources to its helium/natural gas projects in Kansas.

Apollo Silver Corp. (TSX.V: APGO, OTCQB: APGOF) granted 750,000 Restricted Share Units (RSUs) to certain officers and directors under its Omnibus Incentive Plan. The RSUs vest in three equal tranches over 36 months, with each vested RSU convertible into one common share.

Vizsla Silver’s Panuco project Feasibility Study shows US$1.8B after-tax NPV(5%), 111% IRR, and 17.4 Moz AgEq annual production over 9.4 years. Vizsla Royalties (TSXV:VROY) holds key NSR royalties, expecting ~560 koz AgEq/year, with strong early cash flow from high-grade Copala. Production targeted for late 2027.

Luca Mining (TSXV: LUCA, OTCQX: LUCMF) reported strong Q3 2025 results: revenue $35M (+94% YoY), adjusted EBITDA $4.3M, tonnes milled +66%. Campo Morado ZnEq lbs +75%, Tahuehueto AuEq oz +74%. Generated $5.3M YTD net free cash flow pre-WC despite heavy capex. Revised 2025 FCF guidance to $5-10M (from $30-40M) due to lower grades/sequencing and higher development spend; production tracking below original targets but higher grades expected ahead. Capex raised to $29.4M.