Aftermath Silver Appoints DRA Global to Lead Berenguela Pre-Feasibility Study
High-purity manganese battery play disguised as a silver junior enters critical engineering phase.
The most recent news (February 19, 2026) announces the appointment of DRA Global Limited to lead the Preliminary Feasibility Study (PFS) for the flagship Berenguela silver-copper-manganese project in Peru. DRA will be supported by SENET, which brings specialized hydrometallurgical expertise. This follows the February 12, 2026, announcement that the study had officially commenced. The company intends to leverage recent metallurgical successes—specifically the production of 99.9% pure battery-grade manganese sulphate—to deliver a high-quality development plan. Management highlights that global demand for silver and critical metals (copper and manganese) driven by electrification provides an "ideal time" for this advancement.
- Project De-risking: While the appointment of an engineer is a routine operational step, selecting a top-tier firm like DRA Global increases the credibility of the upcoming economic studies. It signals that the company has the capital (following the $20M Dec 2025 financing) to engage high-level expertise.
- Shift in Value Driver: The news reinforces the strategic shift of Berenguela from a pure silver asset to a "critical metals" project. The inclusion of SENET for hydrometallurgy is vital, as the project's viability is increasingly dependent on the complex processing of manganese for the EV battery market.
- In-line with Projections: This announcement is exactly in line with the timeline established in late 2025 and early 2026. The company successfully completed the acquisition of 100% of the project in January 2026 and immediately moved to the PFS phase as promised.
- Materiality: This specific news item is Routine - Positive. The Material - Positive news was the actual commencement of the PFS on Feb 12; this update simply identifies the contractors.
Aftermath Silver is a developer focused on silver and energy transition metals in Latin America. - Flagship Project: Berenguela (Peru). It is a carbonate replacement deposit containing silver, copper, and manganese. - Ownership: 100% (Finalized January 2026 from SSR Mining/EMX). - Resource (Dec 2025 MRE): Measured & Indicated resources of 122.5 Moz Silver and 717.1 Mlb Copper. - Unique Aspect: The project is being positioned as a producer of High Purity Manganese Sulphate (HPMSM) for the EV battery market. Manganese represents ~75% of the total economic value of the deposit according to the MRE's relative value metrics.