Silver Storm ramps up Mexico silver output with Samsung offtake backing

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Silver Storm ramps up output

Highlights

Silver Storm restarted the La Parrilla mine in Q2 2026, targeting a run rate of 3 million silver-equivalent ounces by Q1 2027.
La Parrilla shipped 1,570 tonnes of lead-silver concentrate and 1,362 tonnes of zinc concentrate by September, delivering initial revenue and supporting a projected 10-year mine life.
Silver Storm holds about $25 million in cash, secured 100% offtake with Samsung C&T and a $7 million prepayment facility to support ramp-up and project pipeline growth.

La Parrilla restart drives production plan

As reported by Weiss Ratings, Silver Storm is using the restart of its La Parrilla silver mine in Durango to reposition itself from a resource developer into a producing miner with near-term growth targets. The company restarted production in the second quarter of 2026 and is now aiming for an annualized run rate of 3 million silver-equivalent ounces by the first quarter of 2027.

La Parrilla was acquired from First Majestic Silver as a past-producing mining complex with underground workings and a processing plant already in place. That existing infrastructure gives Silver Storm a shorter path to production than junior miners that must build operations from the ground up.

On Nov. 9, the company reported that La Parrilla shipped 1,570 dry metric tonnes of lead-silver concentrate and 1,362 tonnes of zinc concentrate through Sept. 30, generating revenue from concentrate sales. The property currently holds about 30 million silver-equivalent ounces in mineral resources, implying a mine life of roughly 10 years at the targeted production rate, while mineralization remains open at depth for possible resource expansion.

Cash position and project pipeline support growth case

Silver Storm also controls the San Diego Project in Mexico, a larger silver-focused development asset with an indicated resource of about 55 million silver-equivalent ounces and a further 155 million silver-equivalent ounces in inferred resources. The company is drilling there to expand the resource base and support future underground development.

The balance sheet is another part of the investment case. Silver Storm reports about $25 million in cash, with scope for additional funding if in-the-money warrants are exercised, and it has secured an offtake deal with Samsung C&T covering 100% of La Parrilla's silver and zinc concentrate production during the supply period.

That arrangement also includes a $7 million prepayment financing facility, adding support as operations ramp up. The company still needs to show it can meet production targets on schedule, manage costs and turn mineral resources into profitable output, but its operating mine, development inventory and commercial backing position it as an emerging silver growth story.

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