Guanajuato Silver Company Ltd Stock Price, News & Analysis

Guanajuato Silver (OTCQX:GSVRF) reported Q3 2025 results on November 28, 2025 showing a $11.3M improvement in working capital (Q3 working capital $4.6M vs negative $6.7M in Q2). The company recorded positive operating cash flow of $3,065,567 for the first nine months of 2025 and $712,271 from mining operations in Q3, with realized metal prices of $39.03/oz silver and $3,441/oz gold.

Q3 production was 457,525 AgEq oz (245,369 oz silver; 2,025 oz gold; 597,269 lb lead; 741,595 lb zinc). Capital expenditures rose 97% quarter-over-quarter to fund fleet upgrades, Mill 3 relining, a Falcon concentrator at Topia, Pinguico pre-development and dewatering work. Cash and cash equivalents were $11.6M at quarter end; subsequent to quarter end the company closed a bought deal for gross proceeds of C$43.5M (~US$31.1M) on October 9, 2025.

Guanajuato Silver (TSXV:GSVR / OTCQX:GSVRF) entered a definitive agreement to acquire the Bolanitos gold-silver mine from Endeavour for total consideration of up to US$50 million (US$40M upfront; US$10M contingent), with closing expected in January 2026. Bolanitos adds a 1,600 tpd flotation plant (currently ~75% capacity) and 2024 production of 2,471,027 AgEq oz (452,627 oz Ag; 25,230 oz Au; recoveries 84.4% Ag, 92.7% Au).

The deal includes contiguous San Ignacio integration to reduce transport and increase mill utilization, the past-producing Cebada mine for reactivation, contingent payments tied to 2M and 4M AgEq milestones, and an investor rights agreement with share transfer restrictions; COO Carlos Silva will retire Dec 31, 2025.

Guanajuato Silver (TSXV:GSVR / OTCQX:GSVRF) reported 2025 El Cubo drill results highlighting multiple high‑grade vein intercepts. Key hits include PAC25-03: 26.7 g/t Au + 321 g/t Ag = 2591 g/t AgEq over 0.42 m and SL25-10: 13.02 g/t Au + 970 g/t Ag = 2077 g/t AgEq over 0.18 m (Ag/Au = 85:1). San Luis, Dolores, Packman and Villalpando veins showed continuity and new vein discoveries; San Luis contributed >8,900 tonnes to 2025 production. Company lab performed assays; ~20% of samples were sent to ISO labs for validation and those independent results are pending.

Guanajuato Silver (OTCQX:GSVRF) has announced significant upgrades to its mining fleet at the El Cubo Mines Complex and Valenciana Mines Complex in Guanajuato, Mexico. The company has received six new mining vehicles from Shandong-based Tuoxing Heavy Machinery Company, including three low-profile trucks and three scooptrams.

Additionally, the company has ordered three "Torino" style 20-tonne haulage trucks manufactured in central Mexico, scheduled for delivery over the coming months. The new fleet additions are expected to improve operating efficiencies, enhance production, and ensure better fleet availability.

Guanajuato Silver (OTCQX:GSVRF) reported strong financial results for H1 2025, marking its fifth consecutive quarter of positive mine operating income. The company achieved $8.2M in mine operating income for H1 2025, with Q2 contributing $3.38M. Production reached 659,237 silver equivalent ounces in Q2, including 321,990 ounces of silver and 2,913 ounces of gold.

The company's working capital deficiency improved significantly, reducing by 56% from -$15.4M to -$6.7M during H1 2025. Average realized prices were strong at $33.58 per silver ounce (up 5.2% from Q1) and $3,278 per gold ounce. The company, deriving over 90% of revenue from precious metals, maintains a strategic focus on grade quality over quantity to maximize operating margins.

Guanajuato Silver (TSXV:GSVR) has successfully concluded its non-brokered Listed Issuer Financing Exemption (LIFE) private placement, which was oversubscribed. The offering consists of 60,000,000 units at $0.30 per unit, raising total gross proceeds of $18,000,000.

Each unit comprises one common share and one-half of a common share purchase warrant. The warrants are exercisable at $0.45 per share for 36 months following the closing. The anticipated closing date is set for the week of August 18, 2025, subject to regulatory approvals including TSX Venture Exchange approval.

Guanajuato Silver (OTCQX:GSVRF) has received a crucial General Use Explosives Permit from Mexico's Ministry of Defense for its Pinguico gold-silver project. This permit enables the restart of development work at the historic mine, which was once the highest-grade gold/silver mine in the Guanajuato region from 1890 to 1913.

The company plans to resume underground mining activities in Q4 2025, focusing on constructing a decline from Level 4 toward the historical underground stockpile. The project is located within 10km of the Company's El Cubo processing facility. Previous drilling has shown promising results, including intersections of 953 g/t AgEq silver-equivalent over 0.90 meters.

The permit was obtained several months ahead of schedule, with approximately 500 metres remaining to be developed. The company expects that economic mineralization encountered during development work will help offset the 2025/2026 underground development program costs.

Guanajuato Silver (OTCQX:GSVRF) has reported significant high-grade gold discoveries at its wholly-owned Valenciana Mines Complex (VMC) in Guanajuato, Mexico. The exploration program revealed impressive intercepts at the Santa Margarita zone, including 0.98 metres true width grading 16.7 g/t gold and 12 g/t silver (1,432 g/t AgEq) and 0.26 metres true width grading 45.3 g/t gold and 38 g/t silver (3,886 g/t AgEq).

The company completed approximately 475 metres of diamond drilling in Q1 2025 at the Santa Margarita and Maravillas areas. At Maravillas, drill hole UGM25-001 intercepted a wide vein with a true width of 7.06 metres. The promising results from Santa Margarita will be used to develop a new mining block in 2025, with gold values notably higher than the historical average at VMC.

Guanajuato Silver (OTCQX:GSVRF) has appointed Rick Trotman as Senior Vice President, strengthening its senior management team. Trotman brings 20 years of mining industry experience, including roles at Barrick Gold, Meridian Gold, and Yamana Gold. His expertise spans technical operations, financial analysis, and resource development.

Trotman's previous experience includes managing investments worth over $300 million at Resource Capital Funds and serving as President and CEO of Barksdale Resources. The Company has also granted 2,200,000 stock options to officers and employees at an exercise price of C$0.32, expiring July 29, 2030.