Sierra Madre Gold and Silver Ltd (SM) Financings
TSXV: SM · Gold, Silver · Production stage
- Market cap$371.0M
- Share price$1.42
- 52-week range$1.01 – $3.25
- Shares outstanding261,251,826
- ExchangeTSXV
- Websitesierramadregoldandsilver.com
Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) is a precious metals producer and exploration company focused on the operation, exploration, and development at its Guitarra mine complex in the Temascaltepec mining district, Mexico. The Guitarra mine is a permitted underground mine, which includes a 500 tpd processing facility that operated until mid-2018 and restarted commercial production in January 2025. In June 2026, Sierra Madre closed the acquisition of the Del Toro silver mine, adding a past-producing, fully permitted asset to its Mexico-focused silver and gold portfolio. The Company also holds the +2,600 ha Tepic Project, which hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource. Sierra Madre's management team has played key roles in managing the exploration and development of silver and gold mineral reserves and mineral resources. Sierra Madre's team of professionals has collectively raised over $1 billion for mining companies.
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Sierra Madre Gold and Silver Ltd financial statements
Key figures read from 22 of 22 financial statement filings, Apr 30, 2021 to Aug 27, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | US$13,676,593 | US$452,081 | US$1,929,549 | C$1,801,036 | C$10,206,323 |
| Total current assets | US$23,902,342* | US$3,522,569* | US$3,319,770* | C$8,209,380* | C$10,723,639* |
| Exploration and evaluation assets | US$11,871,411 | US$10,901,266 | US$10,203,451 | C$202,785 | C$202,785 |
| Property, plant and equipment | US$17,868,736 | US$17,641,838 | US$15,660,081 | C$62,756 | C$5,359 |
| Total assets | US$66,963,559 | US$34,891,015 | US$30,478,627 | C$9,394,420 | C$10,931,783 |
| Debt | US$5,375,000 | US$5,375,000 | — | — | — |
| Shareholders' equity | US$48,976,367 | US$24,953,384 | US$26,702,270 | C$3,138,317 | — |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Revenue | US$24,955,694 | US$6,473,940 | — | — | — |
| Cost of sales | US$15,270,332 | (US$5,113,961) | — | — | — |
| Exploration and evaluation expense | — | — | — | C$4,830,935 | C$2,450,552 |
| General and administrative | US$2,939,222 | US$2,073,793 | US$2,052,925 | C$1,255,510 | C$469,141 |
| Share-based compensation | US$1,395,691 | US$1,621,449 | — | C$501,286 | C$2,625,190 |
| Impairments and write-downs | — | US$0 | US$2,906,681 | — | — |
| Net income (loss) | US$8,134,561 | (US$4,075,728) | (US$39,999,050) | (C$8,246,715) | (C$7,112,179) |
Cash flow statement: annual key figures
figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | US$4,093,040* | (US$3,729,103)* | (US$5,336,575)* | (US$2,007,330)* | (C$4,699,812)* |
| Investing cash flow | (US$10,872,893)* | (US$3,798,872)* | (US$1,067,387)* | (US$397,202)* | (C$23,012)* |
| Financing cash flow | US$19,831,380* | US$6,065,720* | US$8,007,676* | US$2,476,798* | (C$351,589)* |
| Property, plant and equipment spending | (US$5,226,742) | (US$1,771,658) | (US$327,052) | US$0 | (C$7,655) |
| Proceeds from share issues | (US$2,043,208) | (US$35,964) | (US$521,379) | US$0 | C$0 |
| Change in cash | US$13,051,527 | (US$1,462,255) | US$1,603,714 | US$72,266 | (C$5,074,413) |
| Cash at end of period | US$13,676,593 | US$452,081 | US$1,929,549 | US$88,242 | C$10,206,323 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Sierra Madre Gold and Silver Ltd financings
2 financings announced or closed by Sierra Madre Gold and Silver Ltd, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2025-12-17 | Sierra Madre Gold and Silver Ltd (SM) | Private placement, brokered | Tranche closed, 2 tranches | $57.5M | $1.30 | Sierra Madre Announces Agreement to Acquire the Del Toro Silver Mine from First Majestic Silver and Concurrent $50 Million Offering of Subscription Receipts Addition of second production-ready asset to the Sierra Madre portfolio |
| 2025-07-16 | Sierra Madre Gold and Silver Ltd (SM) | LIFE offering, brokered | Tranche closed, 2 tranches | $19.5M | $0.700 | Sierra Madre Announces Upsize of Best Efforts Private Placement of Units to $ 1 6.5 Million |
Sierra Madre Gold and Silver Ltd debt and credit facilities
Convertible debentures and notes, loans, credit facilities, bonds, gold loans and prepayments Sierra Madre Gold and Silver Ltd has announced, read by Mining News Terminal. A debt reported in several releases is listed once, at its latest stage.
| Date | Debt | Lender | Amount | Terms |
|---|---|---|---|---|
| 2026-07-08 | Loan, partly repaid | — | US$5M | matures 2027-05-08 |
| 2026-03-24 | Loan, repaid / settled | — | US$2.5M | 15%, matures 2027-05 |