Guanajuato Silver Company Ltd. reports operating and corporate developments as a Mexico-focused precious metals producer. The company produces silver and gold from the Bolanitos mine, El Cubo Mines Complex, Valenciana Mines Complex and San Ignacio mine in Guanajuato, and produces silver, gold, lead and zinc concentrates from the Topia mine in Durango.
Recurring updates include production and financial results, NI 43-101 technical reports, mineral resource and reserve estimates, drilling programs, mine optimization initiatives, completed asset acquisitions, board appointments, stock option grants and at-the-market equity activity. Company news also addresses concentrate sales exposure to silver and gold and operating risks tied to underground mining in Mexico.
Guanajuato Silver (GSVRF) renewed its Canadian base shelf prospectus on September 25, 2026, permitting potential securities offerings of up to US$65 million.
The company filed the prospectus and received a receipt from securities regulators across Canada. It replaces a prospectus dated August 21, 2024, that expired September 21, 2026. During its 25-month term, the new prospectus permits offerings of common shares, debt securities, warrants, subscription receipts, share purchase contracts or units. Guanajuato Silver has no immediate plans to issue securities and has entered no arrangements to authorize an offer or sale. Terms and use of proceeds for any offering would appear in a separate prospectus supplement.
Guanajuato Silver (GSVRF) has appointed veteran mine operator Colin Bower as Chief Operating Officer, responsible for overseeing its Mexican mining operations.
Bower brings over 35 years of experience in senior roles at major mining companies, including First Majestic Silver, Barrick, BHP and KGHM. At First Majestic from 2021 to 2025 he led three underground precious metals mines, where milling and production rates increased while safety performance improved. His background includes operational leadership positions in Chile, Nevada and Mexico, with a track record of gains in production, cost performance and safety, which the company views as aligned with its growth strategy.
Guanajuato Silver (OTCQX:GSVRF, TSXV:GSVR) announced the grant of incentive stock options to one of its officers. The award covers 150,000 common shares at an exercise price of $0.50 per share, issued under the company’s incentive stock option plan.
The options are exercisable for a 5-year term expiring on August 28, 2031, and are subject to standard vesting provisions. Guanajuato Silver describes itself as a precious metals producer operating four silver-gold assets in Guanajuato, Mexico, and producing silver, gold, lead, and zinc concentrates from the Topia mine in Durango.
Guanajuato Silver (OTCQX:GSVRF, TSXV:GSVR) reported Q2 2026 revenue of $42.5M, similar to Q1’s $43.0M, and its second consecutive quarter of positive net income at $557,000, bringing H1 2026 net income to $6.3M. Mine operating income reached $9.1M in Q2 and $23.4M for the first half, with Q2 Adjusted EBITDA at $5.8M and $20.6M for H1.
Silver output was 347,481 oz, up 2% quarter-over-quarter, while gold production was 3,653 oz, down 15% as Bolanitos continues ramp-up. The company substantially reduced debt by repaying 3,029 oz of gold on its Ocean Partners loan, eliminating future monthly payments; based on the Q2 closing gold price of $4,026, the accelerated repayment was valued at $12.1M, with a single remaining payment in April 2028 valued at $9.5M. Cash, cash equivalents, and short-term investments totaled $19.9M at quarter-end. According to Guanajuato Silver, 2026 features its largest-ever capital expenditure program, driving higher exploration, development and drilling, which has also contributed to higher all-in sustaining costs in Q2 and is expected to do so in Q3 and Q4.
Guanajuato Silver (OTCQX:GSVRF, TSXV:GSVR) received Mexican government approval to begin a surface drilling program at its wholly owned El Horcon project in Jalisco, Mexico, about 60km northwest of Guanajuato. Permits allow up to 45 drill pads along a 3.7km trend, covering roughly one-third of the property's structural prospectivity.
The company plans a first-phase 2026 campaign of about 5,000 metres, averaging 260m per hole, with one hole to 500m, using a company-owned diamond rig redeployed from El Cubo. Drilling aims to validate and expand a historical inferred resource of over 2.0 million silver-equivalent ounces defined in 2017 under NI 43-101, which the company treats as historical and not current. Guanajuato Silver also reported that an appeal in a lawsuit brought by NucTech Mexico against subsidiary MMR was denied by a Mexican court, confirming an earlier damages judgment already accrued in the company’s 2025 financial statements.
Guanajuato Silver (OTCQX:GSVRF) announced the resignation of Richard Silas as VP Corporate Development and Corporate Secretary, effective to address a personal matter. Silas remains on the Board of Directors.
Susana Del Rio, head of legal and compliance, is appointed VP of Administration and Corporate Secretary.
Guanajuato Silver (OTCQX:GSVRF, TSXV:GSVR) reported 2026 AGM results held June 30, 2026 in Vancouver. All six director nominees were elected, with votes “for” ranging from about 73.6% to 90.2%. Shareholders also approved a six-member board, reappointed KPMG LLP as auditors, and approved the Amended Stock Option Plan.
Guanajuato Silver (OTCQX:GSVRF) announced an accelerated partial repayment of its gold loan with Ocean Partners. The company repaid 1,448.7 oz of gold at US$3,830/oz, covering all 11 remaining monthly instalments.
The only remaining obligation is a final bullet payment of 2,365.8 oz due at loan maturity in April 2028. This gold loan is currently the company’s sole debt, with an estimated mark-to-market value of about US$10.2M. Guanajuato Silver notes that this portion of the loan was extinguished at a discount to the current gold spot price.
Guanajuato Silver (OTCQX:GSVRF) reported record Q1 2026 revenue of $43.1M, up 89% quarter-over-quarter, with 97% from silver and gold sales.
The company delivered record EBITDA of $13.1M, net income of $5.7M, mine operating income of $14.3M, and ended the quarter with $30.5M in cash and short-term investments.
Gold output rose 104% to 4,295 oz and silver production increased 15% to 339,104 oz, supported by the January 2026 acquisition of the gold-rich Bolanitos Mine.
Guanajuato Silver (OTCQX:GSVRF) announced an accelerated partial repayment of its gold loan with Ocean Partners UK. The company repaid 1,580.4 ounces of gold, equal to one year of payments, using cash on hand, so obligations under the loan are fully covered until May 2027.
Since inception, Guanajuato Silver has repaid 3,292.5 ounces, or 46% of the original balance. 3,814.5 ounces remain, with monthly installments resuming in 2027 and a final bullet payment due at loan maturity in 2028.