Silver Storm Mining Ltd (SVRS:TSXV; SVRSF:OTCQX; SVR:FSE) announced that it has completed the first shipment of lead-silver and zinc concentrates from its 100-per-cent-owned La Parrilla silver mine complex in Durango state, Mexico.
The company said it successfully produced an initial batch of concentrates using the La Parrilla sulphide processing circuit and subsequently completed an initial shipment of 105 dry metric tonnes of lead-silver concentrate and 70 dry metric tonnes of zinc concentrate. According to the company, the shipment was completed as part of its previously announced offtake prepayment agreement with Samsung C&T Hong Kong Ltd. and QSSC, S.A. de C.V. (Samsung C&T).
Silver Storm stated that it plans to continue increasing sulphide circuit processing rates with a goal of ramping up toward the nameplate capacity of 1,250 tonnes per day.
"Our first concentrate shipment is a defining milestone for Silver Storm, real, saleable product from La Parrilla moving to market under our offtake agreement with a globally recognized company (Samsung C&T Hong Kong Ltd. and QSSC, S.A. de C.V. (Samsung C&T))," President and Chief Executive Officer Greg McKenzie said in a company news release. "Through the hard work of our team, we have taken La Parrilla from care and maintenance to a revenue-generating operation. Silver Storm is now in a position to continue shipping concentrates on an ongoing basis."
Silver Prices Held Near US$59 as Markets Assessed Federal Reserve Outlook
As of 6:30 a.m. EDT on July 31, the spot price of silver was US$58.68 per ounce, down US$0.74, or 1.25%, according to JM Bullion. The company stated that silver prices fluctuate continuously, driven by investment supply and demand along with other market factors.
According to a July 29 report from Kitco News, market strategists at StoneX said gold and silver prices were likely to remain within recent trading ranges while investors assessed the outlook for U.S. monetary policy. Rhona O'Connell, Head of Market Analysis for EMEA & Asia at StoneX, wrote, "We maintain our view on gold and silver, in that narrow ranges remain the order of the day, and we continue to believe that the downside is marginally more likely than sustained rallies." She also noted that higher Treasury yields continued to provide "a headwind for gold and, with its industrial bias, for silver."
The following day, Kitco News reported that precious metals remained resilient following the Federal Reserve's decision to leave interest rates unchanged. Independent precious metals analyst Jesse Colombo wrote that, "While higher interest rate expectations typically put downward pressure on precious metals, since they do not earn a yield, they have held up quite well in spite of that." He added that the market's resilience suggested: "a great deal of pessimism has already been priced in."
The same report also cited Marc Chandler, managing director at Bannockburn Global Forex, who said, "Silver settled firmly, up almost US$1, but failed to impress. It is consolidating inside yesterday's range," describing the metal's price action following the Federal Reserve announcement.
Third-Party Reports Review Recent Progress
In a July 22, 2026, edition of Silver Stock Investor, Peter Krauth said Silver Storm had reached "another major milestone" at its wholly owned La Parrilla Silver Mine in Mexico with the start of hot commissioning of the sulphide processing circuit. He wrote that the phase introduces mineralized material into the plant under operating conditions, bringing the operation closer to full production. Krauth also highlighted the company's US$5 million unsecured, non-dilutive loan from First Majestic Silver Corp. (AG:TSX; AG:NYSE; FMV:FSE) to provide additional working capital for the La Parrilla restart. According to Krauth, repayments begin 15 months after closing, with an option for early repayment without penalty. He added, "Several more great steps of progress towards commercial production. The team is working diligently towards that goal and doing it responsibly. I am impressed and happy to watch the excellent progress as I maintain my shares."
On July 23, 2026, Red Cloud analyst Ron Stewart reiterated a "Buy" rating on Silver Storm with a CA$0.80 per share target price following the company's latest exploration update. Stewart said the results were positive because La Parrilla has what Red Cloud models as a 6.5-year mine life, making resource additions that extend mine life potentially accretive to net asset value. He also noted that near-surface oxide material is significant because of its proximity to existing development and its ability to be processed through the oxide doré circuit rather than the sulphide flotation circuit. Stewart added that with two underground drill rigs and one surface rig operating, 93 holes totaling about 9,395 meters completed, and 13 newly permitted surface drill sites, Red Cloud expects continued news flow as the company works to expand the oxide resource. He wrote that the next mineral resource estimate should help determine how the new drill results translate into additional ounces and mine life.
Operations Continue at La Parrilla
According to the company's May 2026 corporate presentation, Silver Storm has a 15,000-meter underground drilling program underway at La Parrilla. The program began in January 2026 with an initial 6,000 meters of drilling before being expanded by 9,000 meters following what the company described as strong initial drill results. The stated objective is to increase indicated and inferred resources through exploration step-out and infill drilling at the Quebradillas, San Marcos, and Rosarios mines. Surface exploration and drilling are also planned at the Quebradillas Open Pit, San Marcos North, La Ilusion-Argenis, and Rosarios West Extension targets.
The presentation also states that Silver Storm is continuing work on the La Parrilla operation, including expanding the sulphide processing circuit to 1,250 tonnes per day, representing a 25% capacity increase. Rehabilitation activities include servicing and repairing crushing, sulphide and oxide circuits, while underground work includes drift cleaning, scaling, ventilation upgrades, and recommissioning of underground services. The company also reported that long-lead equipment, including eight new Wemco-style sulphide flotation cells, a vibrating grizzly screen, and a primary jaw crusher, is on site.
Streetwise Ownership Overview*
Silver Storm Mining Ltd (SVRS:TSXV;SVRSF:OTCQX;SVR:FSE)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 11/07/23 | GOG:TSXV | 1 | SVRS:TSXV | 1 |
According to the company, Silver Storm amended its concentrate prepayment agreement with Samsung C&T Hong Kong Ltd. and QSSC, S.A. de C.V. on July 14. The amendment extended the concentrate supply period by six months to 30 months and deferred the grace period for the initial principal and arrangement fee payments to September 2026 from May 2026, with subsequent monthly repayments also deferred by four months. The agreement continues to include the previously announced US$7 million prepayment facility.
Ownership & Share Information1
Silver Storm Mining Ltd. has a market cap of CA$348.01 million, with 809.33 million shares outstanding. The company's 52-week range is CA$0.14-CA$0.80. Institutions own 10.31% of shares, while Strategic Investors own 27.40%. Management & Insiders own 1.64% of shares, and the remaining 60.65% of shares are held by Retail.
Frequently Asked Questions About Silver Storm Mining, La Parrilla, and Silver Concentrate Production
What did Silver Storm Mining announce?
Silver Storm Mining announced its first shipment of lead-silver and zinc concentrates from its 100%-owned La Parrilla silver mine complex in Durango, Mexico. The shipment included 105 dry metric tonnes of lead-silver concentrate and 70 dry metric tonnes of zinc concentrate produced through the La Parrilla sulphide processing circuit.
Why is the first concentrate shipment from La Parrilla important?
The shipment marks the first saleable concentrate produced from the La Parrilla silver mine since operations resumed through the sulphide processing circuit. According to the company, the shipment was completed under its previously announced offtake prepayment agreement.
Where is the La Parrilla silver mine located?
La Parrilla is located in the state of Durango, Mexico. The mining complex is wholly owned by Silver Storm Mining and includes underground silver, lead, and zinc operations.
How much concentrate did Silver Storm ship?
Silver Storm reported shipping 105 dry metric tonnes of lead-silver concentrate and 70 dry metric tonnes of zinc concentrate as its initial commercial shipment.
What is the processing capacity of the La Parrilla sulphide circuit?
Silver Storm said it plans to continue increasing processing rates with the goal of ramping the sulphide circuit toward its nameplate capacity of 1,250 tonnes per day.
What metals are produced at the La Parrilla mine?
The La Parrilla mining complex produces silver-bearing lead concentrate and zinc concentrate through its sulphide processing circuit.
What is the La Parrilla sulphide processing circuit?
The sulphide processing circuit is the portion of the processing plant designed to treat sulphide mineralization and produce lead-silver and zinc concentrates.
What is Silver Storm's offtake agreement?
According to the company, the first concentrate shipment was delivered under its previously announced offtake prepayment agreement, which covers concentrate sales from La Parrilla.
Is Silver Storm continuing drilling at La Parrilla?
Yes. According to the company's corporate presentation, a 15,000-meter underground drilling program is underway, focused on increasing indicated and inferred resources through exploration step-out and infill drilling.
What exploration targets are included in the La Parrilla drilling program?
The company's presentation states that drilling is focused on the Quebradillas, San Marcos, and Rosarios mines, while surface exploration is planned at Quebradillas Open Pit, San Marcos North, La Ilusion-Argenis, and Rosarios West Extension.
What work is being completed at the La Parrilla processing plant?
Silver Storm's corporate presentation states that rehabilitation work includes expanding the sulphide circuit to 1,250 tonnes per day, servicing and repairing the crushing, sulphide and oxide circuits, and completing underground rehabilitation, including drift cleaning, ventilation upgrades, and recommissioning underground services.
What is Silver Storm Mining?
Silver Storm Mining Ltd. is a silver-focused mining company that owns the La Parrilla silver mine complex in Durango, Mexico, where it has begun shipping lead-silver and zinc concentrates while continuing mine rehabilitation and resource drilling.
| Want to be the first to know about interesting Silver investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. | Subscribe |
Important Disclosures:
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
For additional disclosures, please click here.
1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
