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TORONTO, Nov. 11, 2026 (GLOBE NEWSWIRE) -- American News Group News Commentary - Silver companies get their ounces in different ways. Some mine them, some collect them through streams on mines that other companies operate, and some are still building the case for a mine of their own. Third-quarter reports filed this month put numbers on each approach. SSR Mining said its average realized silver price for the first nine months of 2026 was $74.73 per ounce, against $36.72 a year earlier, and Wheaton Precious Metals reported 8.18 million ounces of attributable silver produced in the quarter, up 36.5% from a year earlier. What follows is a scouting report on five of them, starting with a Northern Canada company that is working toward a production decision at a mine built in the early 1980s. Companies mentioned in today’s commentary include: Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) (FSE: 1QA) (Tradegate: 1QA), Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR), Wheaton Precious Metals Corp. (NYSE: WPM) (TSX: WPM) (LSE: WPM), SSR Mining Inc. (Nasdaq: SSRM) (TSX: SSRM), and Triple Flag Precious Metals Corp. (TSX: TFPM) (NYSE: TFPM).
How to Read the Cards
Each profile below is built on the same core card: the position the company plays, its latest stat line, and the next play it has told the market about. The cards compare business models and the most recent numbers each company has reported. They are not a ranking, and they say nothing about share prices.
Prospect Profile: The Developer With a Mine Already in the Ground
Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) (FSE: 1QA) (Tradegate: 1QA)
Position: Developer. In April 2026, Honey Badger acquired 100% ownership of Canadian Zinc Corporation, owner of the PC Silver Mine (Prairie Creek), from Resource Capital Fund VI L.P.
Home field: The Mackenzie Mountains of the Northwest Territories, roughly 90 km from Nahanni Butte, in an enclave surrounded by, but excluded from, Nahanni National Park Reserve. The site hosts a historic mill, airstrip and approximately 5 km of underground workings, and the company says key infrastructure, key permits and benefit agreements with local Indigenous Governments are already completed and in place.
Stat line: The company’s September 17, 2026 Preliminary Economic Assessment outlines a 22-year mine life and estimated average annual production of approximately 10.7 million ounces of silver equivalent over the first seven years. In its long-term consensus case, at US$50 per ounce silver, the PEA shows an after-tax NPV5% of C$1.7 billion and a 29% IRR, with pre-commercial production capital of C$667 million. It is based on a mineral resource of 11.63 million tonnes of Measured and Indicated resources grading 424 g/t AgEq and 8.47 million tonnes of Inferred resources grading 492 g/t AgEq. On October 29, the company announced that it had filed the NI 43-101 technical report supporting the PEA, prepared by JDS Energy & Mining Inc.
Bench depth: Beyond PC Silver, the company’s properties include Sunrise Lake, Plata, Yava and Nanisivik and 3 others in the Yukon. On November 5, it reported 2026 field exploration results from its 100%-owned Nanisivik Project in Nunavut, where the Nanisivik mine operated between 1976 and 2002: a zinc-rich sample returned greater than 500 ppm germanium, the upper reporting limit of the analytical method used, and selective massive pyrite samples returned up to 45.3 g/t silver. The 2026 program consisted of 18 selective rock samples, predominantly float samples, and the company said the results are not representative of average grades and do not establish the extent or continuity of mineralization.
“We staked Nanisivik several years ago based on the thesis that the massive pyrite zones could contain silver. The results disclosed today, albeit very preliminary, are an important step towards confirming this thesis,” said Chad Williams, Executive Chairman and Interim CEO of Honey Badger Silver.
Next play: The company says it is advancing directly toward a Feasibility Study at PC Silver, which it is targeting for completion in the second quarter of 2027.
CONTINUED... Read this and more news for Honey Badger Silver Inc. at: americannewsgroup.com
The Benchmarks: Two Miners and Two Streamers
Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR)
Position: Producer, which describes itself as a mid-tier silver producer with three operating mines in Mexico and Peru.
Stat line: In third-quarter results released November 9, Endeavour reported production of 2,096,545 ounces of silver and 10,126 ounces of gold, for a total of 3.6 million ounces of silver equivalent, with silver and gold production 19% and 39% higher than a year earlier. Cash costs were $16.55 per ounce of payable silver and all-in sustaining costs were $29.54 per ounce, net of by-product credits, compared with $18.09 and $30.53 in Q3 2025, and the company held $287.9 million in cash at September 30.
Next play: A revised 2026 consolidated range of 7.8 to 8.1 million ounces of silver, and the advancement of the Pitarrilla Project.
“Our operations continue to deliver strong results, with mine operating cash flow increasing 139% and both cash costs and AISC declining year-over-year. Supported by a strong cash position and healthy working capital, we are well positioned to drive further growth and create long-term shareholder value as we advance the Pitarrilla Project,” said Dan Dickson, CEO.
Wheaton Precious Metals Corp. (NYSE: WPM) (TSX: WPM) (LSE: WPM)
Position: Streaming company, with production attributable to its interests in mines operated by others.
Stat line: Wheaton’s third-quarter revenue was $772 million, 51% from gold and 46% from silver. Attributable silver ounces produced rose 36.5% from a year earlier, to 8,182,000 from 5,995,000, and Peñasquito produced a record 3.1 million ounces of attributable silver in the quarter, up 46% from Q3 2025.
Next play: Estimated attributable production in 2026 of 27 to 29 million ounces of silver, along with 400,000 to 430,000 ounces of gold.
“Wheaton delivered another solid quarter, building on record year-to-date performance, and remains very well positioned to achieve our annual production guidance,” said Haytham Hodaly, President and Chief Executive Officer of Wheaton Precious Metals.
SSR Mining Inc. (Nasdaq: SSRM) (TSX: SSRM)
Position: Gold and silver producer, which describes itself as a free-cash-flow-focused Americas gold and silver producer anchored by its long-lived Marigold and CC&V operations in the United States.
Stat line: SSR Mining’s third-quarter results show an average realized silver price of $58.39 per ounce in the quarter, against $41.92 a year earlier, and $74.73 for the first nine months of 2026, against $36.72. Its Puna operation produced 1.7 million ounces of silver in the quarter, compared with 2.4 million ounces in the same period of 2025.
Next play: Exploration and resource development drilling at the Cortaderas project, which the company says represents a longer-term mine life extension opportunity for Puna.
Rod Antal, Executive Chairman of SSR Mining, said, “Over the last few months, we have delivered a number of positive milestones designed to create long-term value for shareholders and affirm SSR Mining as a free-cash-flow-focused gold and silver producer in the Americas.”
Triple Flag Precious Metals Corp. (TSX: TFPM) (NYSE: TFPM)
Position: Streaming and royalty company, with silver streams that include a 100% silver stream at Buriticá and a 25% silver stream at Cerro Lindo.
Stat line: Triple Flag’s third-quarter results show silver revenue of $32.1 million, up from $25.5 million a year earlier, on silver sales of 7,530 gold equivalent ounces compared with 7,373.
Next play: Sales in the mid to top half of its increased 2026 guidance of 100,000 to 110,000 gold equivalent ounces.
“Triple Flag delivered another strong quarter, driven by operating cash flow per share of $0.45, up 15% year-over-year. We remain on track to achieve sales between the mid to top half of our increased 2026 guidance of 100,000 to 110,000 GEOs,” commented Sheldon Vanderkooy, CEO.
What the Cards Show
Read side by side, the cards show three ways a company can build a business around silver. The producers report what their own mines did last quarter. The streamers report ounces and revenue from mines other companies run. A developer’s card is built on studies, permits and the next engineering milestone, and Honey Badger’s next scheduled entry on that card is a Feasibility Study at PC Silver.
Track the Signals Before the Crowd
Study results, sample assays and quarterly reports can all shift the conversation around silver names. Eagle Eye is a real-time investor signal-intelligence platform that surfaces sentiment shifts, news flow and trending tickers as they form. Watch it live at eagle-eye.dev.
Article Source: Honey Badger Silver Inc. news releases dated September 17, October 29 and November 5, 2026, and the Company’s website; third-quarter 2026 results releases of Endeavour Silver Corp., Wheaton Precious Metals Corp., SSR Mining Inc. and Triple Flag Precious Metals Corp.
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