Year: 2025

Mithril Silver and Gold Limited (ASX:MTH; TSXV:MSG) appoints Michael Port as Chief Financial Officer on April 30, 2025. Port, a chartered accountant with over 30 years in audit and accounting, is a partner at DFK Kidsons.

Silver Bull Resources, Inc. updated its international arbitration claim against Mexico, filed with the International Centre for Settlement of Investment Disputes (ICSID). Key progress includes appointing a three-person arbitration panel, engaging a quantum expert to assess the claim’s value, and setting a timeline with the Memorial filing due in May 2024 and the hearing scheduled for October 2025. The company, represented by Boies Schiller Flexner and funded by Bench Walk Advisors (up to $9.5 million), continues case preparation.

Alamos Gold Inc. reported Q1 2025 results, with Mexico’s Mulatos District producing 30,400 ounces, down 51% from Q1 2024 due to lower grades at La Yaqui Grande. Costs rose, with total cash costs at $1,233/oz. Construction on the PDA project, approved by SEMARNAT, will ramp up mid-2025, targeting 104,000 ounces annually from mid-2027.

United States Antimony Corporation (USAC) announced a major expansion of its Thompson Falls, Montana smelter, the only operating antimony smelter in the U.S. USAC contracted WSP USA Inc. for engineering and construction to increase production capacity sixfold to over 300 tons per month by the end of 2025, with a budget under $15 million. The project, complemented by the recent Madero Smelter startup in Mexico, aims to reach 500 tons monthly, enhancing U.S. supply chain security without disrupting current operations.

Fortune Bay Corp. plans to advance its 100 %-owned gold projects: the Goldfields Project in Saskatchewan, Canada, with an updated PEA and permitting to pave the way toward future prefeasibility work, and the Ixhuatán Project in Chiapas, Mexico (to be renamed Poma Rosa), focusing on community engagement, resource review, and preparation for updated NI 43-101 estimates and renewed exploration.

Fortuna Mining Corp. received Toronto Stock Exchange approval to renew its normal course issuer bid, allowing repurchase of up to 15,347,999 common shares (5% of outstanding shares) from May 2, 2025, to May 1, 2026, or until the limit is reached. Shares will be bought at market prices and canceled, reflecting Fortuna’s belief that its shares are undervalued.

Fortune Bay Corp. plans to advance its Goldfields Project in Saskatchewan with an Updated PEA by Q3 2025 and initiate permitting activities. The Ixhuatán Project in Mexico, renamed Poma Rosa, will see community consultations and exploration restart in late 2025. A resource review aims to update the historical mineral resource estimate, enhancing value for both projects.

GR Silver Mining temporarily paused field work at its Plomosas Silver Project in Sinaloa, Mexico, despite no violence or direct threats, to allow Mexican government efforts to improve regional security and stability. During the pause, the team continues office-based data modelling; the drilling program will resume when management deems it safe to do so.

Orogen Royalties Inc. reported record 2024 revenue of $7.9 million, up 34%, and net income of $4.3 million, up 126% from 2023. Royalty revenue rose due to higher gold prices and Ermitaño Mine output. Prospect generation income fell 54%. The company, with $26.8 million in working capital, announced a $421 million acquisition by Triple Flag Precious Metals, including a spin-out company.