Highlander Silver Kicks Off Four-Rig Corani Drilling, Maintains US$100M Cash Balance
Highlander Silver reports US$100M cash, no debt as of March 31 and forecasts ~US$60M year-end. It began Corani’s first drilling in a decade with four rigs, completed a 620 km magnetic survey and 96 km IP survey, and started substation and road works.
1. Cash Position and Forecast
The company held an unaudited cash balance of approximately US$100 million with zero debt as of March 31 and projects about US$60 million end-2026 following disciplined spending across exploration and development initiatives.
2. Corani Silver Project Advances
At Corani in Peru, vice president and general manager Carlos Ojeda leads early-stage work including a 620 km airborne magnetic survey, expanded 96 km induced polarization survey and the first exploration drilling in over a decade with four rigs; site preparation, substation and road construction are underway and an updated feasibility study is due by Q3.
3. Mercedes Mine Restructuring and Plans
In Sonora, Mexico, Orlando Chumpitaz was appointed vice president and general manager of the Mercedes gold-silver mine after restructuring eliminated debt and an excessive stream; Mercedes produced 30 koz of gold in 2025 and will focus on infill drilling, infrastructure upgrades and free cash flow generation.