Fresnillo plc reported robust Q2 2025 production with 12.5 moz of attributable silver (up 1.0% vs. Q1 2025, down 14.7% vs. Q2 2024) and 157.7 koz of gold (up 1.0% vs. Q1 2025, up 21.3% vs. Q2 2024). Strong performance at Herradura drove gold output, while silver was impacted by lower grades and Silverstream. The company maintains its 2025 guidance.
MAG Silver Corp. reported Q2 2025 production from Juanicipio (56% MAG, 44% Fresnillo), processing 343,000 tonnes of ore, with silver grades at 417 g/t and production of 4.3 million silver ounces and 10,465 gold ounces. Lead and zinc output rose 9% and 21%, respectively. A tragic fatality in July prompted a safety review. Full-year guidance remains on track, with comprehensive results due August 11, 2025.
Avino Silver & Gold Mines Ltd. reported a 5% increase in Q2 2025 silver equivalent production, reaching 645,602 ounces, with record mill throughput of 190,987 tonnes. Gold and copper production rose 17% and 12%, respectively, despite lower silver output. The company maintains a strong balance sheet with US$37 million in cash and is advancing development at La Preciosa.
Equinox Gold Corp. announces a leadership transition: Greg Smith steps down as CEO and Director, succeeded by Darren Hall, former President and COO. Hall, with 40 years of mining experience, previously led Calibre Mining. David Schummer is appointed COO. The transition marks Equinox Gold’s shift toward operational excellence and growth, leveraging assets like Greenstone and Valentine.
Aura Minerals Inc. (Nasdaq: AUGO, TSX: ORA) announced that S&P Global Ratings upgraded its credit rating outlook to positive from stable, affirming its B+ global and ‘brAA’ Brazilian ratings. The upgrade reflects Aura’s U.S. listing, successful project execution, and high gold prices boosting cash flow. S&P noted potential for further upgrades if Aura grows without increasing leverage. The finance card above shows AUGO at $24.87 and ORA at $89.60.
Kootenay Silver Inc. announced a 2025 drill program at its Columba Project, starting in August with 25,000–30,000 meters to expand the 54.1 Moz silver Inferred Mineral Resource (284 gpt Ag). Fully funded by a $20M financing, the program targets D, F, and B/Lupe Veins. The company also granted 2.5M stock options and 1.5M restricted/deferred share units.
Sierra Madre Gold and Silver Ltd. upsized its private placement to issue 27,858,000 units at $0.70 each, targeting $19,500,600. Each unit includes one common share and half a warrant, exercisable at $0.85 for 12 months. Eric Sprott will participate. The offering, led by Beacon Securities, is set to close July 24, 2025, pending TSX Venture Exchange approval.
Goldgroup Mining Inc. revised its non-brokered private placement to offer 15,000,000 units at $0.80 each, aiming for $12,000,000. Each unit includes one common share and one warrant, exercisable at $1.10 for 24 months. Proceeds will fund targeted mining acquisitions in Mexico to enhance shareholder value, though no suitable projects have been finalized. The placement awaits TSX Venture Exchange approval.
Reyna Silver Corp. announced a special meeting on August 11, 2025, to vote on a proposed arrangement with Torex Gold Resources Inc., where Torex will acquire Reyna Silver’s shares for $0.13 each. The board recommends voting FOR the resolution. Securityholders should review the management information circular on SEDAR+ and vote by August 7, 2025.
Sierra Metals Inc. responded to Alpayana S.A.C.’s allegations regarding its hostile takeover bid launched on December 16, 2024, at CAD $0.85 per share, later raised to CAD $1.15. Alpayana, aware of Sierra Metals’ standard change of control entitlements for senior officers, demanded amendments to deprive them of these rights. Sierra Metals’ Board, prioritizing employee entitlements and business continuity, rejected these demands and approved separation agreements to ensure fair treatment.
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