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.

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

Kitco MINING