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La Guitarra Mine
- Fully permitted mine and 500 t/d mill in Mexico's Silver Belt
- May 2022 agreement with First Majestic Silver: US$35M in consideration shares
- Commercial production at the Guitarra mine complex achieved January 1, 2025
- A high-grade underground mine that operated up to August 2018
- Operated by Sierra Madre management between 2006 and 2009
- As announced on September 8, 2025, Sierra Madre plans to increase capacity at La Guitarra by more than 50% from current levels, to 750 tpd to 800 tpd, by Q2 2026. A subsequent expansion is planned to increase capacity by more than 100% from current levens to 1,200 tpd to 1,500 tpd, by Q3 2027.
Share Structure
Tight Share Structure and Large Insider Ownership
Capital Structure
| Shares Outstanding | 196,351,971 |
| Fully Diluted Shares Outstanding | 213,721,260 |
| Current Assets (incl. cash) Sep 30, 25 | $16.9M USD |
| Loan from First Majestic | $5M USD |
Stock Information
Financial statements
Annual General Meeting
Analyst
Why Silver? Why Now?
Macroeconomic Backdrop Supportive of Precious Metals
Government liquidity injections due to COVID-19, operational shutdowns and temporary suspensions, and trade wars are all supportive of the flight to safety in gold and silver.
Gold to Silver Ratio Presents Buying Opportunity
While the gold price is at all time highs, the price of silver is still lagging on a relative basis. With a ratio of 70:1 currently*, silver is undervalued compared to historical levels.
Demand Expected to Increase
Global investment for physical silver has increased and is expected to grow for a 3rd consecutive year by 16% to 215.8M oz**. Industrial demand in electric vehicles and hybrids, as well as opportunities in 5G are all creating demand for the metal.
Supply Tightening
Global production has fallen for four consecutive years, dropping by 1.3% in 2019 to 836.5M** due to declining grades at several large mines, lower bi-product output and notable disruption losses. Global production is expected to fall 5% or 38.8M oz to 797.9M oz** as a result of disruptions due to COVID-19.