Silver Storm Stock Price, News & Analysis

Silver Storm Mining Ltd. (OTCQX: SVRSF) is a mining company focused on advanced-stage silver projects in the state of Durango, Mexico. According to the company’s public disclosures, Silver Storm holds a 100% interest in the La Parrilla Silver Mine Complex and the San Diego Project, which it describes as being among the largest undeveloped silver assets in Mexico. The company’s shares trade on the TSX Venture Exchange under the symbol SVRS, on the OTCQX Best Market in the United States under SVRSF, and on the Frankfurt Stock Exchange under SVR.

Silver Storm describes the La Parrilla Silver Mine Complex as a past-producing operation that includes a 2,000 tonne-per-day (tpd) mill and multiple underground and open pit mines. Public information states that La Parrilla historically produced 34.3 million silver-equivalent ounces between 2005 and 2019. The complex has included five underground mines and an open pit, and more recent disclosures refer to three underground mines within the complex. The company has communicated that it is advancing toward a potential restart of operations at La Parrilla and has outlined activities such as mill rehabilitation, underground development, and drilling programs.

The company’s disclosures highlight that La Parrilla hosts several named underground mines and zones, including Quebradillas, San Marcos, and Rosarios within the La Parrilla Complex. Technical descriptions in company news releases characterize these areas as containing sulphide replacement bodies, sulphide-bearing fault veins, oxide mineralization, and stockwork or replacement zones with defined strike lengths, vertical extents, and thicknesses. Silver Storm has announced underground drilling campaigns focused on step-out and infill drilling in these zones to support internal mine planning and resource definition.

In addition to La Parrilla, Silver Storm holds a 100% interest in the San Diego Project in Durango, which the company describes as one of the largest undeveloped silver assets in Mexico. While detailed technical parameters for San Diego are not provided in the available summaries, Silver Storm consistently references this project as a key component of its asset base alongside La Parrilla.

Silver Storm has also engaged in corporate and financing transactions to support its project plans. The company entered into a prepaid offtake financing facility with subsidiaries of Samsung C&T, granting Samsung the right to purchase 100% of the lead-silver and zinc concentrates produced at La Parrilla over a defined period. The proceeds of this facility are earmarked in company disclosures for activities at La Parrilla, including mill rehabilitation, upgrading, underground development, and working capital.

On the corporate side, Silver Storm completed a court-approved plan of arrangement to acquire all of the issued and outstanding common shares of Till Capital Corporation through a wholly owned subsidiary. Under this arrangement, Till shareholders received units of Silver Storm consisting of common shares, purchase warrants, and contingent value rights. Following completion of the transaction, Till’s shares were expected to be delisted from the TSX Venture Exchange, while Silver Storm’s shares continued to trade under the symbol SVRS.

The company has also reported governance and capital markets developments, such as a change of auditor and the granting of incentive stock options under its incentive stock option plan to directors, officers, employees, and consultants. These actions are presented in its news releases as part of its ongoing corporate administration and capital structure management.

From a trading perspective, Silver Storm’s graduation from the OTCQB Venture Market to the OTCQX Best Market in the United States is described by the company as an important milestone. The OTCQX Market is characterized in the company’s news as being designed for established, investor-focused companies that meet specified financial standards, follow corporate governance practices, and comply with applicable securities laws. Silver Storm’s management has stated that this upgrade is intended to improve visibility to U.S. investors and increase liquidity in its shares.

Silver Storm regularly participates in mining investment conferences and showcases, where it presents updates on its projects and planned activities. Public announcements reference attendance at events such as the 121 Mining Investment Conference in London and Red Cloud’s Fall Mining Showcase in Toronto, positioning these forums as opportunities to discuss the company’s recent and planned project work with investors and industry participants.

Across its disclosures, Silver Storm consistently emphasizes its focus on advanced-stage silver assets in Durango, Mexico, with La Parrilla and San Diego forming the core of its project portfolio. The company’s public communications describe a strategy centered on advancing La Parrilla toward a potential restart of operations and maintaining San Diego as a significant undeveloped silver project.

Business focus and project portfolio

According to multiple company news releases, Silver Storm’s business is centered on:

• Holding and advancing advanced-stage silver projects in Durango, Mexico.
• Owning 100% of the La Parrilla Silver Mine Complex, a past-producing operation with a 2,000 tpd mill and multiple underground mines and an open pit.
• Owning 100% of the San Diego Project, described by the company as among the largest undeveloped silver assets in Mexico.
• Conducting underground drilling and planning surface exploration programs at La Parrilla to support internal mine planning and potential mine development.
• Arranging project-related financing, including a prepaid offtake facility tied to future concentrate production at La Parrilla.

Trading venues and corporate structure

Silver Storm Mining Ltd. is listed on several markets. The company states that its common shares trade on the TSX Venture Exchange under the symbol SVRS, on the OTCQX Best Market in the United States under SVRSF, and on the Frankfurt Stock Exchange under SVR. The company has also disclosed a completed plan of arrangement through which it acquired Till Capital Corporation via a three-cornered amalgamation under the Business Corporations Act (British Columbia).

Key technical and operational elements at La Parrilla

Company technical disclosures describe La Parrilla as including:

• A 2,000 tpd mill.
• Historically, five underground mines and an open pit, with production of 34.3 million silver-equivalent ounces between 2005 and 2019.
• Three underground mines referenced in recent descriptions of the complex.
• Named mines and zones such as Quebradillas, San Marcos, and Rosarios, with detailed geological characterizations in terms of mineralization style, strike length, vertical extent, and thickness.

Silver Storm has announced underground drilling programs at La Parrilla, with metreage allocated among the Quebradillas, San Marcos, and Rosarios mines and associated zones. The company’s stated objectives for these programs include exploration step-out and infill drilling to support internal mine planning and potential development.

Financing and offtake arrangements

To support activities at La Parrilla, Silver Storm entered into a prepaid offtake financing facility with subsidiaries of Samsung C&T. Public information indicates that:

• The facility is a secured prepaid financing arrangement.
• Proceeds are intended for La Parrilla restart-related activities, including mill rehabilitation, upgrading, and underground development, as well as working capital.
• Samsung has the right to purchase 100% of the lead-silver and zinc concentrates produced at La Parrilla over a specified period.

Corporate governance and capital actions

Silver Storm has reported several corporate actions, including:

• A change of auditor from Dale Matheson Carr-Hilton Labonte LLP to BDO Canada LLP, with no reservations in the former auditor’s reports for the two most recent fiscal years and no reportable events as defined in National Instrument 51-102.
• The grant of incentive stock options under its 2020 Amended and Restated Incentive Stock Option Plan to directors, officers, employees, and consultants, with options subject to TSX Venture Exchange policies.
• The issuance of shares, warrants, and contingent value rights in connection with the acquisition of Till Capital Corporation.

Position within the mining sector

Within the mining, quarrying, and oil and gas extraction sector, Silver Storm is classified in the dimension stone mining and quarrying industry category for data purposes, while its own disclosures focus on silver mining and related polymetallic concentrates at its Durango projects. The company’s communications consistently present it as a holder of advanced-stage silver projects with a focus on La Parrilla and San Diego.

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