Santacruz Silver (TSXV: SCZ) Q3 2025: revenue $80M (+2% YoY), gross profit $20.2M (+28%), net income $16.3M, adjusted EBITDA $19.5M (+67%). Produced 3.42M AgEq oz (+30% YoY); paid off Glencore liability. Cash $40M, working capital $69M (+186% YoY). AISC $35.62/oz.
IMPACT Silver reported Q3 2025 results with revenue of $10.7 M, up 24% from Q3 2024, driven by higher silver prices. Net loss improved to $0.6 M from $3.1 M, and year-to-date mine operating income before amortization was $5.6 M vs a loss last year. Cash and working capital rose significantly. Operations at Zacualpan and Plomosas both showed increased production and revenue.
GoGold Resources Inc. closed a C$144 million bought deal financing by selling 54,245,500 units at C$2.65 each, including overallotment. Proceeds will fund exploration and development at its Los Ricos projects in Mexico and general corporate needs. Each unit includes one share plus half a warrant exercisable at C$3.50 for three years. BMO Capital Markets led the deal.
Silver Tiger Metals Inc. (TSXV:SLVR) closed a C$40M bought deal financing, issuing 54.8M common shares at C$0.73 each. Proceeds will advance exploration and development at the 100%-owned El Tigre silver-gold project in Sonora, Mexico, and support working capital. Underwriters led by BMO and Stifel received a 5.5% commission.
Avino Silver & Gold Mines Ltd. (TSX:ASM, NYSE:ASM) filed a prospectus supplement to increase its at-the-market (ATM) equity offering in the U.S. to US$60 million (from previous limit). Shares will be sold periodically through agents at prevailing market prices, providing flexible capital access. No obligation to sell; conditional TSX approval received.
Santacruz Silver (TSXV: SCZ) shareholders approved all matters at the Nov 25, 2025 AGM, including director elections, board change (Bruce Wolfson replaces Roland Löhner), and share consolidation to meet Nasdaq’s US$4 minimum bid price for proposed U.S. listing. Consolidation ratio and effective date to be announced.
Apollo Silver Corp. (TSX.V: APGO) engaged Equedia Network for 3-month marketing and communications services at a one-time fee of US$350,000. Equedia, an arm’s-length provider, currently holds 6,000 Apollo shares and may buy more. No shares or options issued as compensation. Engagement pending TSXV approval.
Kenadyr Metals Corp. (TSXV: KEN.H) appoints Enrico Gay as CEO (to be renamed Algo Grande Copper Corp.) as it completes the 100% acquisition of the district-scale Adelita copper-gold-silver project in Sonora, Mexico. Timothy McCutcheon steps down as CEO but remains a director. All documents submitted; awaiting TSXV approval for reactivation and name change.
Silver Wolf Exploration Ltd. closed a C$2.125M non-brokered private placement, issuing 14,166,665 units at C$0.15 each (1 share + ½ warrant exercisable at C$0.25 for 36 months). Proceeds will fund a 3,000m drill program at the Ana Maria property in Mexico and working capital. Avino Silver acquired 5M units, increasing its stake to ~11.65% (16.5% diluted). TSX-V final approval pending.
Pinnacle Silver and Gold Corp. (TSXV: PINN) is arranging a non-brokered private placement of up to 18M units at $0.14 each to raise up to $2.52M. Each unit includes one share and one-half warrant (exercisable at $0.20 for 24 months). Proceeds will advance the El Potrero gold-silver project in Mexico and support working capital. Expected close: Dec 19, 2025.
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