Silver Elephant Resumes Trucking from Apuradita Silver Mining Operation
Operations Resume at Apuradita but Structural Legal Risks and Capital Fragility Remain
The news release dated February 5, 2026, announces that Silver Elephant has resumed the trucking of silver-bearing mineralized material from its Paca Apuradita mining project in Bolivia to a toll-mill plant. This follows a temporary suspension caused by a regional diesel shortage and adverse weather. The company currently has a stockpile of approximately 1,750 tonnes. Mining operations are continuing at a rate of 500 to 1,000 tonnes per month. The company also provided a conceptual estimate of 10,000 tonnes of remaining mineralized material in the tunnel complex with an average grade of 412 g/t Ag, 1.09% Pb, and 0.38% Zn.
- Operational Continuity: The resumption is a positive step for cash flow, but the scale remains very small (boutique-level). At a maximum of 1,000 tonnes per month, this is not yet a large-scale commercial producer.
- Resource Validity Risk: The company explicitly states that the 10,000-tonne estimate is "conceptual in nature" and not NI 43-101 compliant. For a risk-averse investor, this means there is no verified economic viability for the remaining material.
- Contextual Strength: This news follows two major legal wins in late January 2026: a $1 million USD arbitration award against Andean Precious Metals and a favorable tax ruling in Mongolia that dismissed a $24.6 million CAD assessment. These legal wins are far more material to the company’s survival than the resumption of small-scale trucking.
- Logistical Vulnerability: The suspension due to diesel shortages highlights the ongoing jurisdictional risk of operating in Bolivia, where infrastructure and fuel stability can interrupt the revenue chain without warning.
Silver Elephant is a Canadian silver miner focused on the Pulacayo-Paca project in Potosi, Bolivia. The project is split into the "Apuradita" area (currently mining) and the "MPC Area" (currently in legal dispute with the state miner, COMIBOL). The project has a history of high-grade silver, lead, and zinc. The company also holds coal assets in Mongolia (Ulaan Ovoo) and royalty interests in various vanadium and nickel projects through its stake in Oracle Commodity Holding.