James Anderson, Chairman & CEO of Guanajuato Silver (TSX.V:GSVR – OTCQX:GSVRF), joins me for a comprehensive update on Q4 2025 financials, year-to-date operations trends, the early partial repayment of their loan to Ocean Partners, the 16,000 meters of underground development work underway, and the key initiatives for their ongoing 75,000 meter drill program at each mine.
Guanajuato Silver produces silver and gold concentrates from the El Cubo Mine Complex, Valenciana Mines Complex, the San Ignacio mine, and their recently acquired Bolanitos Gold-Silver Mine. In addition, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. In addition to these 5 producing mines, the Company also has 3 past-producing exploration and development projects in their portfolio at the El Horcon Mine, Pinguico Mine, and Cebada Mine.
Q4 2025 Highlights:
- Mine Operating Income of $4.0M represented a 375% increase over Q3; Working Capital of $14.2M vs $5.4M, represented a 163% increase over the previous quarter.
- Revenue increased by 40% to $22.7M in Q4 from $16.3M in Q3, 2025.
- Production during Q4 was 295,836 ounces of silver (an increase of 21% over the previous quarter
- Grades of Silver and Gold were 37% and 15% higher respectively, showing a continued trajectory toward higher quality ounces.
- Silver represented 64% of total revenue; with 94% of revenue in Q4 derived from silver and gold sales, Guanajuato Silver remains a genuine precious metals producer with outsized leverage to the silver price.
- Realized prices were $55.54 for silver and $4,161.94 for gold in Q4.
- Cash and cash equivalents totaled $41.5M at the end of the quarter
James outlines their ongoing 16,000 meters of underground development work paired with the 75,000-meter drill program, currently utilizing 7 drill rigs and with plans to contract 2 more to augment exploration initiatives. This is largest exploration program the company has ever deployed, with some areas getting the first meaningful resource expansion in many years.
If you have any follow up questions for James on Guanajuato Silver, then please email them into me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Guanajuato Silver at the time of this recording, and may choose to buy or sell shares at any time.
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