Sinda (NYSE: SIND) reported third-quarter 2026 exploration progress, including the start of earthworks for its planned Caracol exploration decline.
Phase 2 drilling completed approximately 31,150 meters using 18 rigs. Caracol returned its highest-grade intercept to date: 3.05 meters at 12,494 grams per metric ton of silver-equivalent, a combined silver-and-gold measure. Initial Don Diego drilling indicated a possible structural link between Caracol and Agaves.
Cash and cash equivalents totaled $305.6 million at September 30. Sinda said it is fully funded for ongoing exploration and the decline, budgeted at approximately $98 million over three and a half years. Underground drilling has a separate approximately $44 million budget. The company plans 122,000 meters of Phase 2 drilling, expects site preparation completion in the fourth quarter, and targets an updated mineral resource estimate by year-end 2026.
Hycroft (Nasdaq: GDXJ) has engaged RESPEC to evaluate underground mining options for high-grade silver systems at Brimstone and Vortex and is studying an exploration decline to improve drill access and reduce time and cost. WestLand completed TSF engineering; Ausenco will finish the Initial Assessment in Q2 2026. Hycroft was added to the VanEck Junior Gold Miners ETF (GDXJ), expanding institutional visibility.
The Brimstone system begins about 30 meters below the existing open pit; RESPEC will deliver an internal engineering report in the coming months.