Welcome to our dedicated page for Silver Elephant Mining news (Ticker: SILEF), a resource for investors and traders seeking the latest updates and insights on Silver Elephant Mining stock.
Silver Elephant Mining Corp (OTCQB: SILEF) generates frequent news related to its mining operations, corporate finance activities, and legal matters. The company’s disclosures highlight its work at the Apuradita Paca Mining Project in Bolivia, where it reports mining silver-bearing and lead-bearing mineralized material, toll milling, and concentrate sales under an off-take agreement with a major international buyer.
News releases from Silver Elephant often cover operational milestones at Apuradita, such as the delivery of silver-bearing material to a toll-milling facility, commencement of toll milling, and the completion of the first silver-lead concentrate sale. These updates include technical details on mining methods, internal production targets, and assay results for concentrates, providing context for how the project is being advanced.
Investors following SILEF can also expect regular announcements on non-brokered private placements, where the company raises gross proceeds through units composed of common shares and share purchase warrants. These financings frequently involve participation by directors, officers, and significant shareholders and are described in the context of Multilateral Instrument 61-101 related party transaction requirements.
Additional Silver Elephant news items include shareholder meeting results, changes in legal leadership, and updates on arbitration proceedings against Andean Precious Metals Corp. over an additional consideration payment under a Master Services Agreement and Sales and Purchase Agreement. Together, these releases provide a detailed picture of the company’s operational progress, corporate governance, financing strategy, and legal environment.
This news page aggregates such disclosures so readers can review Silver Elephant’s latest operational, financial, and legal updates in one place and track how developments at Apuradita and other corporate actions may affect the company over time.
Silver Elephant Mining Corp. (SILEF) has announced amendments to 11,676,258 common share purchase warrants, adjusting their exercise price to $0.30 CAD. The amendments will take effect on April 22, 2025, except for insider-held warrants which require shareholder approval.
The warrants, issued between May 2020 and November 2024, originally had exercise prices ranging from $0.45 to $1.60 CAD. Insiders hold 2,726,865 of these warrants, with CEO John Lee holding a significant portion. The new $0.30 exercise price represents a 19.52% premium to the company's five-day volume-weighted average price of $0.217.
The amendments require Toronto Stock Exchange approval and include a limitation on warrant exercise for 10% shareholder Ron Motz, preventing him from acquiring 20% or more of voting rights. This limitation also applies to his 400,000 warrants issued on January 15, 2025.
Silver Elephant Mining Corp. (SILEF) has announced an agreement to assign its rights to the El Triunfo Gold-Antimony Project in Bolivia to CleanTech Vanadium Mining Corp. for CAD 155,000 in cash. The transaction involves transferring Silver Elephant's option to acquire 100% equity in Mururata S.R.L., which owns the Bolivian mining rights.
The El Triunfo Project, located 75km east of La Paz, Bolivia, covers approximately 256 hectares. The deal's closing is contingent on several conditions, including due diligence completion, regulatory approvals, and an amendment to the original Triunfo Option Agreement. CleanTech has provided a refundable deposit of $155,000, returnable if the transaction isn't completed by December 31, 2025.
The transaction is classified as Non-Arm's Length due to overlapping leadership positions between the companies, with several executives and directors serving both entities. Key officers John Lee and Greg Hall declared their interest and abstained from voting on the transaction.
Silver Elephant Mining Corp. (SILEF) is facing challenges with its Mining Production Contract (MPC) in Bolivia after Comibol, the state mining company, issued a Notice of Cancelation in December 2024, alleging illegal mining activities. The company strongly denies these allegations, stating there is no physical evidence and maintaining that all permits were legally valid.
The situation is complicated by Andean Precious Metals Corp., a former customer, entering into a purchase agreement with Comibol for oxide materials from areas within Silver Elephant's MPC territory. This development follows a series of business interactions between the companies, including a terminated Master Services Agreement that resulted in a disputed $1,000,000 payment.
Silver Elephant has filed legal actions, including a Notice of Arbitration for payment and a Notice of Dispute regarding contractual interference. The company is actively pursuing administrative and judicial measures to reinstate the MPC for its 2,803-hectare Pulacayo-Paca Project.
Silver Elephant Mining Corp. (SILEF) announces plans to commence silver production at its Paca Apuradita Silver Project in Bolivia by May 2025. The company has completed 111 meters of a planned 160-meter tunnel development for its underground mining operation, advancing at 2.4 meters per day.
The project's infrastructure is fully operational, including rail transport systems, logistics infrastructure, air compressor systems, and civil works. The planned 100-tonne-per-day operation will utilize shrinkage stoping method across two stopes (30m length x 20m height x 4m width).
The calculated average grade of extracted sulphide materials is 412 g/t Ag, 1.09% Pb, and 0.38% Zn, based on diamond drill holes and internal mine modeling. High-grade intercepts show silver grades ranging from 424 g/t to 715 g/t. The company is finalizing toll milling and concentrate sales agreements, with production expected to begin in May 2025.
Silver Elephant Mining Corp (OTCQB: SILEF) has announced a non-brokered private placement to raise $300,000 through the sale of 1.5 million units at $0.20 per unit. Each unit includes one common share and one share purchase warrant, with warrants exercisable at $0.30 per share for three years.
The placement includes a Finder's Fee of up to 7% cash or Units. A company Director will subscribe for 400,000 units ($80,000), constituting a related party transaction under MI 61-101. The company is exempt from formal valuation and minority shareholder approval requirements as the Director's participation won't exceed 25% of market capitalization.
Securities issued will have a four-month plus one-day regulatory hold period. Proceeds will be used for general corporate purposes, subject to TSX approval.
Silver Elephant Mining Corp. (SILEF) has initiated arbitration proceedings against Andean Precious Metals Corp. for failing to pay US$1,000,000 in Additional Consideration. The payment was due December 18, 2024, triggered when silver prices averaged over US$28 for 260 trading days.
The dispute stems from a September 11, 2023 Master Services Agreement (MSA) and Sales and Purchase Agreement (SPA), where Silver Elephant agreed to sell up to 800,000 tonnes of Paca oxide materials to Andean for US$5-7 million plus expense reimbursements. After Andean defaulted on payment and the cure period lapsed, Silver Elephant terminated both agreements on December 31, 2024.
Following failed resolution attempts, Silver Elephant delivered an Arbitration Notice on January 14, 2025, seeking payment plus interest and legal expenses. Due to Andean's non-cooperation in arbitrator selection, Silver Elephant filed a petition with the Supreme Court of British Columbia on February 20, 2025, to appoint an arbitrator.