Sinda Reports Third-Quarter 2026 Results, With $305.6 Million in Cash

Sinda reported third-quarter 2026 results, highlighting ongoing drilling, site preparation for its exploration decline and a cash balance of $305.6 million at September 30. The company said it is fully funded for its current exploration program and underground decline. Its release did not provide quarterly revenue, earnings or per-share results.

Financial Highlights

• Cash and cash equivalents totaled $305.6 million as of September 30, 2026.
• Sinda raised aggregate net proceeds of $309.3 million through its IPO, the underwriters’ overallotment exercise and a private placement to Fresnillo plc.
• The June 29 IPO generated $192.9 million in net proceeds; the July 15 overallotment added $21.4 million.
• The July 27 private placement to Fresnillo generated $95.0 million in net proceeds.
• The exploration decline is budgeted at approximately $98 million, and planned underground drilling has a budget of approximately $44 million.

Business Highlights

• Sinda completed approximately 31,150 meters of Phase 2 drilling during the quarter using 18 rigs, focusing on resource conversion at Caracol, infill drilling at Agaves and exploration of the Don Diego corridor and other targets.
• The company reported its highest-grade Caracol intercept to date: 3.05 meters grading 12,494 g/t silver-equivalent, including 0.65 meters at 24,548 g/t.
• Initial Don Diego drilling indicated a possible structural link between Caracol and Agaves, supporting further exploration across the project area.
• Earthworks began in September to prepare the exploration decline portal and waste rock storage facility; approximately 6,500 cubic meters of material were moved during the quarter. Site preparation was targeted for completion in the fourth quarter, with the decline expected to provide underground access.
• Phase 2 drilling is planned to total 122,000 meters, and an updated mineral resource estimate is targeted for year-end 2026. Sinda also reported 501,480 work hours without lost-time incidents, recordable injuries or disabling accidents.

Original SEC Filing: Sinda Ltd. [ SIND ] - 8-K - Nov. 02, 2026