Northwire Canada EditionTuesday, November 10, 2026
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Gold 4,059.00 −1.4% Silver 51.83 −1.6% Copper 6.28 −1.0% Oil 85.90 −1.1% Palladium 1,022.00 +0.1% COPR 0.390 +4.0% WSK 0.170 +0.0% GAL 0.365 −4.0% VCG 1.05 +2.9% LVX 0.270 −20.6% RAMP 0.270 +0.0% QTWO 1.77 +9.9% SUM 1.30 −1.5% SGML 7.89 −5.5% BOGO 0.750 −5.1% SGC 0.095 +0.0% MANU 0.150 +0.0% GMA 0.200 +0.0% ONAU 0.475 +0.0% TGOL 0.130 +0.0% MD 0.290 −9.4% Gold 4,059.00 −1.4% Silver 51.83 −1.6% Copper 6.28 −1.0% Oil 85.90 −1.1% Palladium 1,022.00 +0.1% COPR 0.390 +4.0% WSK 0.170 +0.0% GAL 0.365 −4.0% VCG 1.05 +2.9% LVX 0.270 −20.6% RAMP 0.270 +0.0% QTWO 1.77 +9.9% SUM 1.30 −1.5% SGML 7.89 −5.5% BOGO 0.750 −5.1% SGC 0.095 +0.0% MANU 0.150 +0.0% GMA 0.200 +0.0% ONAU 0.475 +0.0% TGOL 0.130 +0.0% MD 0.290 −9.4%
Production / Operations

Mineros continues Nicaragua expansion

By The Northwire Desk — AI Analysis Mar 03, 2026 · 16:25 MSA · 6.58 Mineros S.A.
MSA · Price

Executive Summary

  • Mineros S.A. reports significant progress on its Nicaragua expansion initiatives, including the phased expansion of the Hemco processing plant to 2,500 tonnes per day (tpd) by year-end 2026.
  • The company has achieved a sustained throughput of 2,000 tpd (a 14.3% increase over baseline) and is accelerating underground mine development to build inventory, with stockpiles currently containing over 6,000 ounces of gold.
  • A 75,000-metre exploration drilling program has commenced in 2026 using eight active rigs, aiming to extend mine life and advance the Porvenir project, with a technical report update expected by March 2026.

Key Details

  • Processing Plant Expansion:
    • Current sustained throughput: 2,000 tpd (baseline was 1,750 tpd).
    • Target capacity: 2,500 tpd by December 2026.
    • Interim target: 2,200 tpd by June 2026.
    • Major capital equipment for the expansion phase is expected on site in Q3 2026.
    • Project remains on schedule and within budget, with full compliance to environmental permits.
    • Gold recovery is consistently above 90%; silver recoveries have improved via process optimization.
    • Technical studies are underway to evaluate adding an additional 1,000 tpd mill circuit using existing owned equipment.
  • Mine Development & Inventory:
    • Accelerated development at Panama and Pioneer underground mines to support surface stockpiles.
    • Current stockpile inventory: >6,000 ounces of gold.
    • Inventory intended to provide operational flexibility and optimize processing by blending grade material.
    • Management expects economies of scale from increased throughput to reduce unit operating costs.
  • Bonanza Mining Partners (BMP):
    • New ore storage/staging patio built in Rosita (approx. 20 miles from Bonanza) is fully operational.
    • Incremental contribution: 200 tpd of mineral to the Hemco processing plant.
    • Company reviewing opportunities to increase BMP mineral acquisitions to maximize ore availability ahead of 2026 capacity increases.
  • Exploration Program:
    • 2026 program scope: 75,000 metres of drilling.
    • Resources: Eight active rigs, utilizing a company-owned drill fleet.
    • Cost advantage: Internal drilling costs average ~$100/metre vs. $160/metre for contracted services.
    • Objectives: Resource-to-reserve conversion, greenfield exploration, extending life of Panama and Pioneer mines, advancing Porvenir project, and exploring high-grade targets.
    • Technical Report: Update on the prefeasibility study (PFS) for Porvenir and Hemco property expected by end of March 2026.

Notable Quotes

  • No direct quotes from the CEO/President were included in the provided text.
Read the original news release →

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Earnings