Ted Butler

Vizsla Royalties @VizslaRoyalties got a bid from @Elemental_Royal valued at roughly C$327M. The market focused on the premium. I think investors should focus on the shift in exposure. Vizsla Royalties offered relatively direct leverage to silver through Panuco. Elemental is a broader precious metals royalty company, with revenue weighted more heavily toward gold. That doesn’t make the deal bad. But it does change what shareholders own. I break down what silver investors should really be paying attention to inside Silver Advisor: #vr" target="_blank" rel="nofollow noopener">thegoldadvisor.com/silver-advisor…

Aya @AyaGoldSilver just put up the kind of numbers silver investors wait for: Q1 revenue: $117M, up 247% year-over-year. Operating cash flow: $70M. Cash on hand: $172M. And they did it while producing 1.5M AgEq oz through difficult winter conditions in Morocco. But the bigger story may not be the quarter itself. It may be Boumadine. Aya drilled more than 42,000 metres there in Q1 and identified a new parallel mineralized structure — the kind of development that can materially change the long-term scale of a project. We’ve also our @Mining_Hub_ , page where readers can explore Aya and other Silver Advisor companies through an interactive map: mininghub.com/custom-map/sil… @peter_krauth digs into why that matters inside Silver Advisor.

Avino @Avino_ASM just showed what silver leverage looks like when prices cooperate. Revenue rose 109% year-over-year to a record $39.4M. EBITDA hit $25.5M. Net income came in at $15.9M. But the bigger point is what’s happening beneath the numbers. La Preciosa is beginning to contribute, silver exposure is growing, and Avino now reports 127M AgEq oz in reserves. More inside : #vr" target="_blank" rel="nofollow noopener">thegoldadvisor.com/silver-advisor… We also included a clip on Avino using DORA with VRIFY to process decades of geological data and sharpen exploration targeting. @peter_krauth

Tomorrow I’m revealing a new Silver Stock Investor pick. Advanced silver play. Latin America. 300M+ silver equivalent ounces. Peers trade at roughly $4–$5 per silver equivalent ounce. This company trades around $1. That gap caught our attention. @TedJButler dug into the numbers and helped lay out why this opportunity looks compelling. Full research is for Silver Stock Investor subscribers only: thegoldadvisor.com/subscribe/

This partnership is about more than reach - it’s about bringing trusted sector voices into the same place investors come to research mining. @TheGoldAdvisor and @TedJButler add respected precious metals commentary to OreStocks A milestone for OreStocks as we create the new home for mining investors: filings, technicals, news, commentary, and community.

Almost showtime. #IGWT26 hits the wire in a matter of days!! We've assembled what might just be our finest contributor line-up yet — @izakaminska, @michaeljmcnair, @BullionBrief & @TedJButler — plus conversations with @judyshel, @LukeGromen & @ctindale. (No, we still can't believe they all said yes either.) Free, in your inbox, May 20th 👇 ingoldwetrust.report/in-gold-we-tru…

The Gold Advisor and Silver Advisor are partnering with @OrestocksDotCom That’s worth noting. In mining, getting in front of the right investors matters. Not everyone is paying attention. But the people on OreStocks already are. That means our commentary, sponsor updates, and market views can reach a more focused audience. More exposure. More touchpoints. More chances for the right stories to be understood. In this market, that counts. @peter_krauth @TheGoldAdvisor @OrestocksNews

Kingsmen @Kingsmen_Res completed 60 km² of precision satellite surveys across Las Coloradas and Almoloya. The key is targeting. The company is now integrating topography, geochemistry, magnetic surveys, IP/resistivity, geology, and drill data into a 3D model. That should sharpen the next holes. @peter_krauth breaks it down in today’s free Silver Advisor letter — with a field update from CEO Scott Emerson in Mexico: thegoldadvisor.com/silver-advisor…

AbraSilver @AbraSilver added 104 Moz AgEq to Diablillos in under 12 months. Now: 454 Moz AgEq M&I 248 Moz Ag 2.5 Moz Au That’s a 30% increase in AgEq. Oculto added. JAC added. Heap leach surprised. And the current Phase VI drilling is not even included yet. DFS due this quarter. Construction decision getting closer. I break down the numbers in today’s Silver Advisor. thegoldadvisor.com/silver-advisor… @peter_krauth

Silver47 @Silver47co at Kennedy: 38.7 g/t Au + 1,713 g/t Ag 9.7 g/t Au + 1,351 g/t Ag 7.1 g/t Au + 1,566 g/t Ag 32.2 g/t Au At surface. Across a ~15 km vein network that remains mostly untested. Add a possible bulk-tonnage target at Lamberson and drilling underway at Hughes, and Silver47 has several ways to add value from here. I break it down in today’s Silver Advisor. thegoldadvisor.com/silver-advisor… @peter_krauth

GoGold’s @GoGoldResources quarter was all about the numbers: $21.2M record operating cash flow $30.3M revenue $16.4M net income $262.2M cash That cash balance now exceeds estimated initial capex for Los Ricos South. Parral is funding the wait. @peter_krauth breaks down why he's holding inside today’s Silver Advisor. thegoldadvisor.com/silver-advisor…

AbraSilver (@AbraSilver) just delivered another sensational headline hole at Diablillos. 68.5m at 343 g/t silver, including 17m at 917 g/t silver. Boasting considerable width and grade, the hole reminds us why the JAC Zone helped define Abra's silver resource in the first place. In fact, with it being drilled along the JAC-Oculto trend, the hole starts to speak to continuity between two of the most important zones at Diablillos. Abra already has a large silver base (350 Moz AgEq). However, the question now is how connected — and how much larger — this system can become. With permits falling into place and a resource update + DFS ahead, this is where the story can shift. My full analysis inside today’s Silver Advisor: thegoldadvisor.com/newsletters/ou… @peter_krauth

Outcrop (@OCG_Silver) keeps putting solid numbers on the board as part of its ongoing 35,000 metre drill program at Santa Ana. This time, it's the Guadual Vein's turn to shine in the spotlight: 2,844 g/t AgEq over 0.84m 1,889 g/t AgEq over 1.17m 227 g/t AgEq over 6.85m But the point is not just grade. It’s continuity at what is one of Outcrop's six discoveries at Santa Ana. And it's also part of the total 50,000m+ drilled since the last resource estimate in 2023 (37 Moz AgEq). As such, when Outcrop publishes a resource update later this year, we're expecting to see silver ounces grow meaningfully - a catalyst that stands to drive a material re-rating for the company's share price, in our view. thegoldadvisor.com/newsletters/ou… @peter_krauth

Cerro de Pasco (@CerroInc) just graduated to the OTCQX Best Market. FYI, that’s the highest tier of OTC Markets in the U.S. This matters because CDPR now has greater visibility with U.S. investors and broader access to institutional capital. Beyond that, the company now trades across four markets: TSXV, OTCQX, Lima, and Frankfurt. That’s a global footprint. The timing is important too. CDPR recently secured access across the full Quiulacocha tailings project area, unlocking drilling, geophysics, and environmental baseline work across the entire footprint. All in all, CDPR is de-risking at the same time its capital markets profile is improving. Here’s the full setup inside today’s Silver Advisor: thegoldadvisor.com/silver-advisor… @peter_krauth

Sierra Madre (@SierraMadreSM) just posted US$24.96M in 2025 net revenue. FYI, that came with US$6.03M in adjusted EBITDA, US$4.09M in cash from operations, and US$8.13M in net income. That compares to a US$4.08M loss in 2024. That’s not a small change. Beyond that, the company sold 271,204 oz silver and 4,041 oz gold in 2025, equal to 628,196 silver equivalent ounces. Q4 revenue alone hit US$8.32M, up 40.5% from Q3. All in all, La Guitarra is moving from restart to cash flow, with the Del Toro acquisition expected to close in May. Check out my full analysis here: thegoldadvisor.com/silver-advisor… @peter_krauth

Argenta (@argentasilverag) just hit 1,385 g/t silver over 4.0m at its emerging target, Mani-Copan. FYI, that's the area of El Quevar that hosted the memorable 4,982 g/t over 7.5m reported in February. It's also the area where samples grading up to 20,000 g/t silver have been found sitting at surface (that's the one I'm holding on site in the photo below). Beyond that, today's update also includes a new, high-grade discovery at the Argentina target, with one intercept hitting a robust 725 g/t over 3.0m. All in all, Argenta is 14,500 metres into a 25,000 metres drill program, with roughly 40% of its assays still pending, and two rigs still turning. With the stock down marginally today, now might be a good time for investors to familiarise themselves with Argenta before the broader market catches on. Check out my full analysis here for more: thegoldadvisor.com/silver-advisor… @peter_krauth

Outcrop Silver @OCG_Silver is back on our radar. Santa Ana has the numbers: 37 Moz AgEq maiden resource 94% silver recoveries 4 new veins discovered Targeting 100 Moz silver We’ve added a short @MiningNetwork_ site tour clip to re-introduce the project. @peter_krauth has it all inside today’s Silver Advisor thegoldadvisor.com/silver-advisor…