Sierra Madre Reports Q4 and Year-End 2025 Financial Results, Positive Operating Performance

Sierra Madre reported 2025 audited results showing a successful restart and ramp-up of La Guitarra, generating annual net revenues of US$24.96M, adjusted EBITDA of US$6.03M and net income of US$8.13M. The company sold 628,196 AgEq ounces in 2025, produced improving head grades quarter-over-quarter, and ended the year with ~$17.3M in cash/short-term investments. Management expects Phase 1 of a two-stage La Guitarra expansion to boost throughput ~50% to 750–800 tpd by end of Q2 2026, which should materially lower unit costs; a further Phase 2 could more than double capacity by Q3 2027. The Del Toro acquisition (closing expected May 2026) and completed financings (CAD$57.5M escrow closing; C$19.5M private placement) support growth and de-risk execution. Overall the results and funded expansion plans are positive for silver exposures and mining equities, implying bullish near-term fundamentals for silver production and company valuation.