Orogen reported a strong 2025 exploration year with over 37,800 m of partner-funded drilling (~$30 M), new royalties, and project sales. For 2026, it expects ~40,000 m of partner-financed drilling, continued alliances with Altius, South32 & Triple Flag, and upcoming resource updates at key copper-gold and gold-silver targets, including Ermitaño.
Santacruz Silver reported 3,739,019 silver-equivalent ounces in Q4 2025, including 1,343,607 oz silver, 23,846 t zinc, 3,000 t lead, and 287 t copper, with production improvements driven by stronger output across its Bolivar, Caballo Blanco, Zimapán and San Lucas operations.
Hecla reported 2025 silver output of 17.0 M oz and gold of 150,509 oz, both at the top of guidance. For 2026, it forecasts 15.1–16.5 M oz silver and 134–146 k oz gold, plans a record $55 M in exploration/pre-development, and modestly higher total capital spend.
Heliostar Metals Ltd. has filed a National Instrument 43-101 prefeasibility study for its Cerro del Gallo Project in Guanajuato, Mexico. The technical report, authored with Kappes, Cassiday & Associates and effective December 11, 2025, is now available on SEDAR+ and the company’s website. Heliostar aims to grow as a mid-tier gold producer with other Mexican assets.
Pacifica Silver closed its upsized brokered private placement, issuing 15.87 million shares at C$1.45 for ~C$23 million in gross proceeds. Key strategic and existing shareholders participated. Funds will accelerate exploration and drilling at the company’s Claudia silver-gold project in Durango, Mexico and support general corporate purposes.
Equinox Gold completed the sale of its Brazil Operations (Aurizona, RDM and Bahia) for up to US $1.015 billion, received $900 M cash upfront and up to $115 M contingent. It used the proceeds to repay over $800 M in debt, cutting net debt to about US $150 M, strengthening its balance sheet and focus on North American growth.
Silver Viper Minerals has appointed Rakesh Malhotra as its new Chief Financial Officer, bringing over 30 years of finance and capital markets experience, including work with public companies and mining firms. His leadership is expected to strengthen financial strategy and support Silver Viper’s growth and project advancement in Mexico’s precious-metals sector.
Tocvan Silver reported debut drill results at its Gran Pilar project in Sonora, Mexico, identifying multiple silver-bearing zones within an epithermal system. Initial drilling confirmed broad mineralized intervals with high-grade silver, supporting the project’s expansion potential and guiding follow-up drilling and exploration.
Kootenay Silver upsized its “bought deal” private placement to C$16.5 million from C$10 million due to strong investor demand. The company will issue 7,333,334 common shares at C$2.25, with an over-allotment option for more. Proceeds will support advancement of its Columba and La Cigarra silver projects in Mexico and general corporate needs.
Avino met its full-year 2025 production guidance, delivering about 2.6 million silver-equivalent ounces (including ~1.16 M oz silver, 7,621 oz gold and 5.67 M lbs copper), with the La Preciosa project contributing material processed in late 2025. The company also saw improved safety performance and operational milestones throughout the year.
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