IMPACT Silver Announces Full Year 2025 Results with Record Revenue and Strong Cash Position

IMPACT Silver Corp. released its Full Year 2025 results on April 16, 2026, reporting record revenue of $48.5 million, a 52% increase year-over-year. The company posted a gross profit of $10.4 million compared to a loss in the prior year. However, the announcement includes a significant operational setback: underground mining at the Plomosas Zinc Mine has been temporarily suspended following an $8.8 million impairment loss. Management is seeking third-party agreements to utilize the mill for cash flow instead of direct mining. Despite this, the Zacualpan silver-lead-zinc complex showed strong growth with Q4 2025 revenue up 129% year-over-year. The company maintains a robust liquidity position with $23.7 million in cash and no long-term debt.

The news presents a mixed picture that balances operational risk against financial strength. - Positive: Record revenue and gross profit demonstrate the viability of the Zacualpan asset, which is now carrying the company's performance. The strong cash position ($23.7 million) provides a significant safety net relative to the market capitalization (~$85 million), reducing immediate solvency risk. - Negative: The suspension of underground mining at Plomosas contradicts the narrative established in late 2025 drill results (Nov/Dec 2025) which suggested expansion and high-grade potential. The $8.8 million impairment loss reduces asset value on the balance sheet. While the presentation from March 2026 already noted Plomosas as "Temporarily suspended," confirming this in the annual report with a specific financial penalty is a negative operational signal. - Neutral: The market likely anticipated some volatility given the previous financing activities and the known suspension status in the investor deck. The shift to third-party mill feed agreements mitigates the total loss of revenue from Plomosas but likely at lower margins than direct mining.

• Company: IMPACT Silver Corp. is a precious metals producer focused on Mexico.
• Flagship Project 1 (Zacualpan): A silver-lead-zinc complex in Guerrero, Mexico. Currently the primary revenue driver with record performance in FY2025. Includes the Guadalupe Processing Plant (500 t/d capacity).
• Flagship Project 2 (Plomosas): A zinc-lead-silver CRD deposit in Chihuahua, Mexico. Underground mining is currently suspended pending optimization and third-party agreements. Previously showed high-grade drill results in late 2025.
• Other Assets: Capire Project (Open-pit silver mine on care and maintenance).