Sierra Madre Posts Record Q1 Revenues as Silver Sector Advances

Sierra Madre Gold & Silver capped the May 4-19 period by reporting record Q1 2026 revenues of $10.1 million and $2.8 million adjusted EBITDA on May 19. The update followed a string of regulatory and operational milestones that began May 4 when Guardian Exploration received a Class 3 permit for its Mount Cameron project and Nord Precious Metals delivered a 2,343 g/t silver intercept at Castle East. Mid-period catalysts included Viscount step-out drilling, Saxony Silver’s C$2.125 million raise, Honey Badger’s Prairie Creek acquisition, and Pan American Silver’s $1.09-per-share profit plus $1 billion shareholder return plan. Santacruz Silver then posted an 81% revenue jump to $127.53 million while Barton Gold launched a 4,000-metre Tolmer drill program. Silver prices remain near $80/oz with banks targeting $90–$100 on structural deficits.