6 Aug 2025auditor change▼ Bad
Auditor Smythe LLP resigned due to a change in its own firm policies (not a dispute); its most recent report had again flagged going-concern doubt from recurring losses and limited cash.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
31 Oct 2023capital raising announcement● Neutral
Silver Bull raised C$1.29 million in a private placement (11.685 million units at C$0.11), with directors and the chairman's affiliate buying C$231,000 of it, funding corporate costs while its ICSID arbitration against Mexico proceeds.
What it means for a shareholder
11.7m new shares at C$0.110 to raise about C$1.3m. That's 25% dilution: every existing holder's slice gets 25% smaller. If you held C$1,000 of shares (9,091 at the issue price), your slice goes from 0.0255% to 0.0192% of the company. To keep it you'd need 2,977 more shares - about C$327 at the issue price.
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8 Sept 2023material agreement▲ GoodMajor
Secured up to $9.5 million in litigation funding from Bench Walk 23P, L.P. to pursue an ICSID/NAFTA arbitration claim against Mexico over the Sierra Mojada blockade, giving up a share of any award (up to 3.5x Bench Walk's outlay, or 1x plus 30% of proceeds) in exchange for the funding and legal-cost coverage.
7 Sept 2022material agreement termination▼ BadMajor
South32 terminated its option agreement on Sierra Mojada after roughly three years under force majeure from the local blockade, paying Silver Bull $518,000 and mutually releasing all claims - ending the company's largest-ever partnership and funding source for the project.
3 Sept 2021material agreement▲ GoodMajor
Spun off Arras Minerals Corp - which holds an option (via a 2020 agreement with Copperbelt AG and Dostyk LLP) on the Beskauga copper-gold project in Kazakhstan - distributing about 34.3 million Arras shares to Silver Bull shareholders one-for-one, unlocking a separate growth vehicle outside the stalled Sierra Mojada project.
1 Apr 2021capital raising announcement▲ GoodMajor
Arras Minerals Corp, the Silver Bull subsidiary formed to hold the Beskauga option, raised C$2.52 million in its own private placement (including C$207,500 from Silver Bull/Arras insiders) months before Silver Bull spun Arras off to its shareholders in August/September 2021.
2 Nov 2020capital raising announcement▲ GoodMajor
Silver Bull raised $1.7 million in a private placement (3.62 million units at $0.47) with heavy insider participation (directors, the CFO, and the chairman's affiliate bought $390,100 of it), helping fund the exploration spending required to keep the new Beskauga option alive.
What it means for a shareholder
3.6m new shares at US$0.470 to raise about US$1.7m. That's 9.8% dilution: every existing holder's slice gets 9.8% smaller. If you held US$1,000 of shares (2,128 at the issue price), your slice goes from 0.00642% to 0.00578% of the company. To keep it you'd need 232 more shares - about US$109 at the issue price.
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18 Aug 2020capital raising announcement▲ GoodMajor
Silver Bull optioned 100% of the Beskauga copper-gold property in Kazakhstan from Copperbelt AG and its subsidiary Dostyk LLP, paying $30,000 upfront with staged exploration-spending commitments up to $15 million over four years to keep the option alive - the real origin of what became the Arras Minerals spinoff a year later.
15 Oct 2019joint venture update▼ BadMajor
Declared force majeure on the South32 option agreement after a cooperative of local miners (Mineros Norteños) blockaded the Sierra Mojada site, halting all work; Mineros Norteños holds a capped 2% production royalty on part of the deposit and has separately been suing the company since 2014 over that royalty.
5 Apr 2019material agreement▲ Good
Amended the South32 option agreement to set a firmer year-by-year funding schedule ($3M/$6M/$8M/$10M cumulative over four years) with quarterly funding tranches, tightening the commitment structure of the earn-in.
1 Nov 2018resource reserve update▲ GoodMajor
Released an updated Sierra Mojada resource estimate (superseding the 2015 report): about 70.4 million tonnes at 38.6 g/t silver and 3.4% zinc in an optimized pit, based on over 1,300 drill holes and 9,000+ channel samples.
21 Aug 2018capital raising announcement● Neutral
Silver Bull closed the second and final tranche of the July 2018 private placement, raising a further $957,522 (7.37 million units at $0.13) and bringing the combined raise to about $3.79 million.
What it means for a shareholder
7.4m new shares at US$0.130 to raise about US$957,522. That's 3.1% dilution: every existing holder's slice gets 3.1% smaller. If you held US$1,000 of shares (7,692 at the issue price), your slice goes from 0.00338% to 0.00328% of the company. To keep it you'd need 249 more shares - about US$32 at the issue price.
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27 July 2018capital raising announcement▲ GoodMajor
Silver Bull raised $2.83 million in a private placement (21.78 million units at $0.13) around the same time it was finalizing its major South32 option deal, with a Sprott-managed fund taking 8.1 million units - more than a third of the raise.
What it means for a shareholder
21.8m new shares at US$0.130 to raise about US$2.8m. That's 9.6% dilution: every existing holder's slice gets 9.6% smaller. If you held US$1,000 of shares (7,692 at the issue price), your slice goes from 0.00374% to 0.00338% of the company. To keep it you'd need 814 more shares - about US$106 at the issue price.
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7 June 2018material agreement▲ GoodMajor
Signed a major option agreement with global miner South32: South32 can earn up to 70% of the Sierra Mojada project by funding at least $10 million of exploration over four years, and up to $100 million to fully exercise the option - by far the largest partner and funding commitment in the project's history.
12 July 2017capital raising announcement● Neutral
Silver Bull raised CDN$1.46 million in a private placement (18.24 million units at CDN$0.08), with a Sprott Group entity again subscribing (2.5 million units).
What it means for a shareholder
18.2m new shares at C$0.080 to raise about C$1.5m. That's 9.3% dilution: every existing holder's slice gets 9.3% smaller. If you held C$1,000 of shares (12,500 at the issue price), your slice goes from 0.00703% to 0.00637% of the company. To keep it you'd need 1,282 more shares - about C$103 at the issue price.
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20 July 2016capital raising announcement● Neutral
Silver Bull raised CDN$651,000 in another private placement (4.34 million units at CDN$0.15), this time placed through Sprott Global Resource Investments - the start of Sprott's recurring role as both financier and placement agent.
What it means for a shareholder
4.3m new shares at C$0.150 to raise about C$651,000. That's 2.5% dilution: every existing holder's slice gets 2.5% smaller. If you held C$1,000 of shares (6,667 at the issue price), your slice goes from 0.004% to 0.0039% of the company. To keep it you'd need 173 more shares - about C$26 at the issue price.
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23 May 2016capital raising announcement● Neutral
Silver Bull raised CDN$565,000 in a private placement (4.35 million units at CDN$0.13) to accredited non-US investors.
What it means for a shareholder
4.3m new shares at C$0.130 to raise about C$565,000. That's 2.7% dilution: every existing holder's slice gets 2.7% smaller. If you held C$1,000 of shares (7,692 at the issue price), your slice goes from 0.00484% to 0.00471% of the company. To keep it you'd need 210 more shares - about C$27 at the issue price.
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18 Feb 2016auditor change▼ Bad
Replaced auditor Hein & Associates with Smythe LLP after a competitive selection process; Hein's most recent report had flagged going-concern doubt tied to recurring losses and thin working capital.
17 June 2015resource reserve update▲ GoodMajor
Released an updated NI 43-101 technical report on Sierra Mojada drawing on over 1,300 drill holes and 9,000+ channel samples: about 56.8 million tonnes at 50 g/t silver and 3.4% zinc in an optimized pit, plus a smaller higher-grade underground zone at 9.4% zinc.
16 June 2015listing compliance notice▼ BadMajor
SILVER BULL RESOURCES, INC.'s securities were notified for removal from listing and registration on its exchange.
19 Feb 2013material agreement▲ Good
Closed the public offering, issuing 22.9 million units (shares plus warrants) for roughly $9.2 million in gross proceeds.
11 Feb 2013material agreement▲ GoodMajor
Launched a $9.1 million public offering of units (shares plus warrants) through PI Financial, Stifel Nicolaus Canada, and Roth Capital Partners to fund further Sierra Mojada work.
27 Jan 2012listing compliance notice▼ Bad
SILVER BULL RESOURCES, INC. withdrew a registration statement, abandoning the offering it covered.
13 Dec 2011material agreement▲ Good
Closed the combined $10.5 million registered direct offerings (21.05 million shares at $0.50), funding continued drilling and option payments at Sierra Mojada.
6 Dec 2011material agreement▲ Good
Raised a further $3 million from additional investors on the same terms as the December 1 offering, bringing the combined raise to $10.5 million for Sierra Mojada exploration.
2 Dec 2011material agreement▲ GoodMajor
Raised $7.5 million by selling 15.05 million shares at $0.50 in a registered direct offering, earmarked mainly for drilling and metallurgical work at Sierra Mojada.
31 Oct 2011resource reserve update▲ GoodMajor
Now renamed Silver Bull Resources, the company released an NI 43-101 technical report on the Shallow Silver Zone at Sierra Mojada: about 28.6 million tonnes at 50.4 g/t silver in a potential open pit, plus higher-grade underground mineralized material at 110.9 g/t silver.
19 Apr 2011capital raising announcement● Neutral
Metalline collected about $663,000 as investors exercised several tranches of warrants.
27 Aug 2010capital raising announcement▲ GoodMajor
Metalline Mining's stock began trading on the Toronto Stock Exchange (as "MMZ", alongside its existing NYSE Amex listing as "MMG"), a step toward the dual US/Canadian listing the post-Dome-merger company was pursuing, alongside a small $120,000 private placement.
21 Apr 2010asset acquisition disposition▲ GoodMajor
Completed the merger with Dome Ventures Corporation, whose mineral properties are in Gabon, Africa: Dome shareholders received about $60.1 million worth of Metalline stock, the board expanded to seven members, and Dome's CEO Brian Edgar became Metalline's Executive Chairman.