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.
Bear Creek Mining reported Q1 2025 results, producing 8,262 oz gold and 36,466 oz silver at Mercedes Mine. The company raised $10 million through a private placement, deferred debt interest payments, and issued a $6.5 million promissory note. A strategic review was initiated, and board changes occurred. Revenue was $23.7 million, with a $13.3 million net loss.
At Avino Silver & Gold Mines’ 2025 Annual General Meeting, all shareholder proposals passed, including setting the board size at five and re-electing directors. Michael Clark was elected as a new director and Ronald Andrews named Chairman. Deloitte LLP was reappointed auditor. The company also filed a final base shelf prospectus to enable future securities offerings.
Prime Mining Corp. has selected Ausenco to conduct a Preliminary Economic Assessment (PEA) for its Los Reyes gold-silver project in Mexico, targeting completion in Q3 2025. The PEA will leverage extensive drilling and technical work, aiming for a high-return, low-capital project. Prime will continue exploration to expand resources and engage local communities.
Coeur Mining, Inc. announced a $75 million share repurchase program, effective through May 31, 2026, to enhance shareholder value. The decision reflects confidence in strong free cash flow from higher metal prices, the Las Chispas mine acquisition, Rochester mine expansion, and consistent operations. Repurchases will occur opportunistically, balancing debt reduction and reinvestment in growth opportunities.
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