Business
Sinda Reports Second Quarter 2026 Financial Results and Provides Operational Update
Raised Total Gross Proceeds of ~$331 million via IPO and Fresnillo Concurrent Placement Completed 60,810-Meter Phase 1 Surface Drilling Program and Initiated
About this update from Sinda Ltd.
Raised Total Gross Proceeds of ~$331 million via IPO and Fresnillo Concurrent Placement Completed 60,810-Meter Phase 1 Surface Drilling Program and Initiated Phase 2 Targeting Additional 122,000 Meters Achieved Exceptional Drilling Results at the New Don Diego Corridor Advancing Works to Initiate Construction of the Exploration Decline in 2H 2026 SAN MIGUEL DE ALLENDE, Mexico / Aug 14, 2026 / Business Wire / Sinda Ltd. (NYSE: SIND) (“Sinda” or the “Company”) today reported financial and operational results for the second quarter ended June 30, 2026, and provided an update on its development plan presented at the time of its initial public offering (“IPO”). Sinda’s debut on the New York Stock Exchange (“NYSE”) on June 26, 2026, marks the beginning of an exciting new chapter in the advancement of what we believe to be one of the world’s most significant silver discoveries in recent years. Our IPO and strategic concurrent placement were met with notable market enthusiasm, ultimately securing $331.3 million in total gross proceeds. Capitalizing on its compelling narrative, the Company saw strong investor demand in its IPO, leading to the underwriters exercising their overallotment option in July. In a powerful validation of the Sinda project’s size and quality, the industry’s global leader and our neighbor — Fresnillo plc (“Fresnillo”) — secured a strategic 5.0% ownership stake in Sinda’s outstanding common stock in a concurrent placement as part of the IPO. These combined proceeds provide our “best of breed” management team with a robust capital base to aggressively fund our disciplined exploration and development plans while systematically de-risking the project. This capital engine, and attendant industry endorsement, positions Sinda to diligently unlock the great value of a world-class silver-gold discovery that has already identified an estimated 369 million silver-equivalent ounces of Inferred Mineral Resources and 16 million silver-equivalent ounces of Indicated Mineral Resources, plus incremental Exploration Targets of 452 – 484 million silver-equivalent ounces that, while conceptual in nature and insufficiently explored to estimate a mineral resource, offer line of sight to a base of more than 800 silver-equivalent ounces on only 38% of the known veins drilled. EXECUTIVE COMMENTARY Daniel Muñiz Quintanilla, Executive Chairman of Sinda, commented:&nbs...