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Kuya Silver Reports Q1, 2026 Financial Results - Strengthens Cash Position to USD$27.2 Million
Kuya Silver Reports Q1, 2026 Financial Results - Strengthens Cash Position to USD$27.2
About this update from Kuya Silver Corporation
[{"type":"text","content":"Q1 revenue of $1.46M; targeting 150,000-200,000 oz AgEq in 2026 with Phase 1 ramp up to 350 tpd underwayKuya Silver to hold a conference call webinar on May 27, 2026 to discuss Q1 2026 financial resultsToronto, Ontario--(Newsfile Corp. - May 27, 2026) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the \"Company\" or \"Kuya Silver\") is pleased to announce financial and operating results for the three months ending March 31, 2026. All amounts are in US dollars, unless otherwise noted.Kuya strengthened its cash position to $27.2 million as of March 31, 2026, supported by the successful completion of the January private placement, proceeds from exercised warrants, and revenue generated from operations at Bethania. The Company entered Q2 with a strong treasury to fund strategic growth initiatives, preserving capital to support the acquisition and expansion of processing capabilities, expanded 20,000-metre exploration program, and the underground development initiatives, including the construction of the new ramp required for Bethania's Phase 1 ramp-up to 350 tonnes per day. During the first quarter of 2026, the Company's revenue increased significantly to $1.46 million, compared to $0.23 million in Q1 2025 and compared to $0.31 million in Q4 2025, reflecting increased mining activity and revenue generation from silver concentrate sales at the Bethania operation. Exploration and evaluation expenditures decreased to $0.40 million from $0.88 million in the prior-year period as the Company acquired key equipment and labour mobilization. Exploration and evaluation expenses were -$0.91 million in Q4 2025 due to a one-time recovery of prior value added tax (VAT) charges of $1.36 million, otherwise expenses were similar quarter over quarter. Capital expenditures are expected to increase in the second half of 2026 as Bethania advances critical infrastructure development and ramp-up activities.Net loss for the quarter improved to $1.24 million, compared to $1.35 million in the same period last year. Net loss for Q4 2025 was $0.43 million, which included the VAT recovery recognized in the quarter.David Stein, Kuya Silver's President and CEO, commented, \"We are pleased with the steady growth we are seeing at Bethania project, generating substantial revenues to offset our planned development expenditures, and further supporte...