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Sierra Madre Gold and Silver (SM) investor relations material
Sierra Madre Gold and Silver Corporate presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Strategic growth and asset expansion
La Guitarra mine achieved full commercial production in January 2025, with expansion phases planned for Q2 2026 and Q3 2027 to double processing capacity from 500 tpd to up to 1,500 tpd, funded from internal cash flow.
Acquisition of Del Toro mine from First Majestic for up to $60M in cash and shares, with a planned restart in mid-2027 and production targeted for mid-2028, subject to regulatory and shareholder approvals.
Del Toro mine includes a 3,000 tpd flotation circuit, extensive underground development, and a 12-year dry stack tailings facility, with a $12M exploration budget and a $10M restart budget.
Strategic and institutional investors include First Majestic, Commodity Capital, Franklin Templeton, and Eric Sprott.
Operational and financial performance
Q3 2025 saw silver equivalent production of 152,498 oz, revenues of $5.52M, gross profit of $1.70M, and adjusted EBITDA of $1.86M, with all-in sustaining costs rising to $34.42/oz.
Power outages impacted Q3, but Q4 and 2026 are expected to benefit from improved reliability and ramp-up at Coloso and Nazareno mines.
La Guitarra mine processed 38,433 tonnes in Q3 2025, with silver and gold recoveries of 76.96% and 75.55%, respectively.
Expansion projects at La Guitarra require no additional permits and are expected to be self-funded.
Resource updates and exploration
La Guitarra’s 2023 resource estimate: 27.2M AgEq oz indicated (up 373%) and 20.2M AgEq oz inferred (up 204%), with Coloso mine grades significantly higher than Guitarra.
District-wide exploration at La Guitarra includes a $3.5M program and a 20,000–25,000m drill campaign in the East District starting H2 2026.
Del Toro’s historic resource (2020): 7.6M AgEq oz M&I and 11.2M AgEq oz inferred, with 23 identified deposits and significant exploration upside.
Tepic project offers over 15km of strike length potential, with recent drilling returning high-grade silver and gold intercepts.
- Production growth and asset expansion drive strong outlook, with Del Toro restart on the horizon.SM
Corporate presentation23 Mar 2026 - Fully funded expansion will triple silver output by 2027, leveraging high-grade resources.SM
2025 Precious Metals Summit - Zurich3 Feb 2026 - La Guitarra mine achieved rapid production growth, strong cash flow, and major expansion plans.SM
Nordic Funds & Mines Conference 202415 Jan 2026 - Commercial production started in 2025, with expansion and output set to triple by 2027.SM
2025 Precious Metals Summit - Beaver Creek27 Dec 2025 - Q2 2025 saw strong revenue and EBITDA growth, with major expansion and exploration funded.SM
Q2 202524 Nov 2025 - Q3 2025 delivered higher revenues and profit, with plant expansion and new exploration underway.SM
Q3 202521 Nov 2025 - La Guitarra achieved commercial production with robust financials and major expansion plans.SM
Corporate Presentation14 Nov 2025 - La Guitarra mine delivers strong production and growth, with major expansion and exploration underway.SM
Corporate Presentation11 Nov 2025 - La Guitarra's commercial production and resource growth drive strong financial and exploration momentum.SM
Corporate Presentation7 Jul 2025
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