Silver Cycle “Still Early” as Highlander Maps Multi-Year Growth Plan

Highlander Silver (TSX: HSLV) President and CEO Daniel Earle says the silver cycle remains in the early stages, with the gold-silver ratio still near 80:1. He notes the sector is trending toward a typical halving of that ratio across a full bull market cycle. “It reached a peak of 106/107:1,” Earle said, adding that silver should continue to outperform if global growth accelerates in 2026.

In October, Highlander closed a $95 million bought deal financing that was heavily oversubscribed, with “demand well in excess of $200 million.” Earle says the raise, alongside support from the Lundins, Augusta Group, and Eric Sprott, leaves the company fully funded for its baseline strategy. The 2026 plan includes beginning permits in Q1 for a 350-tonne-per-day starter operation at Yalán, advancing toward potential 2028 production.

On the exploration front, Highlander is preparing to integrate new geophysics, expand drilling at Bonita, and advance district-scale targets, including the Cerro Colorado porphyry, the Daniella porphyry system, and high-priority replacement potential at depth.

Highlander expects to release its 2026 drill plan early next year and continues to monitor potential index inclusion, starting with SILJ.

Don’t forget to subscribe to the Kitco Mining and Kitco News YouTube channels to stay up to date on the latest industry news and interviews.

https://youtu.be/BwXVZ6e8nKk?si=yKbTpL45j-hpA2Ws

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.