GR Silver Mining (GRSL) Q2 2025 earnings summary

Executive summary

• No operating revenue generated; focus remains on exploration and evaluation of mineral assets in Mexico.

• Net loss for the six months ended June 30, 2025, was $2,956,271, a significant improvement from a $5,112,614 loss in the same period last year.

• Working capital as of June 30, 2025, was $981,010, with an accumulated deficit of $65,993,655.

• Major asset sale: divestiture of Marlin Gold Mining Ltd. and the La Trinidad property, resulting in a gain and removal of significant liabilities.

Financial highlights

• Cash balance increased to $2,123,040 as of June 30, 2025, from $1,162,255 at December 31, 2024.

• Net cash used in operating activities was $2,525,614 for the six months, up from $1,638,452 in the prior year.

• Financing activities raised $3,496,995, including private placements and warrant exercises.

• Total assets at June 30, 2025, were $10,525,242, with total liabilities of $1,756,584.

• Shareholders’ equity stood at $8,768,658 at period end.

Outlook and guidance

• Recent $13.8 million private placement (closed August 13, 2025) expected to provide sufficient working capital for at least twelve months.

• Continued focus on advancing exploration projects in Mexico, particularly Plomosas and San Marcial.