Defiance Silver Corp. appoints Armando Vazquez, M.Sc., C.P.G., as Vice President, Operations, effective May 1, 2025. A seasoned geologist with over 14 years of experience, Vazquez will oversee exploration strategies and operations. His expertise in diverse deposit types and compliance with NI 43-101 standards will drive Defiance’s project advancements and shareholder value.
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.
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.
Mithril Silver and Gold Limited reported significant drilling results at the Copalquin District, Mexico, with high-grade gold and silver intercepts at Target 1, extending the drilling cutoff to May 2025. A second drill rig began at Target 2, aiming for 35,000m in 2025. Channel samples showed strong results, and the technical team was strengthened. Cash balance was A$14.2M.
GR Silver Mining Ltd. has temporarily paused field work at its Plomosas Silver Project in Sinaloa, Mexico, due to regional security concerns, despite no incidents or threats at the project. The decision prioritizes safety, allowing time for enhanced government security measures. The company recently began a step-out drilling program to expand the San Marcial mineralization by 350 meters northwest and identified new silver targets. Work continues at the Rosario office, focusing on data modeling and planning a Bulk Sampling Test Mining program.
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.
Sierra Madre Gold and Silver Ltd. has begun underground mining at the Coloso mine, part of the Guitarra Complex in Mexico, 7 months ahead of schedule. Previously mined by First Majestic Silver, Coloso has higher-grade silver and gold resources than Guitarra. Mining started at 50 tonnes per day, aiming for 150 by year-end, with optimized blending for maximum economic benefit.
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