Silver Elephant Mining Corp.S
Silver Elephant Mining Corp. (TSX: ELEF; OTCQB: SILEF) is mining silver at the Apuradita area of its Pulacayo Paca silver-lead-zinc project near Uyuni, in Bolivia's Potosí Department. Apuradita ore from a small underground operation (400 to 600 tonnes a month) is toll-milled at a third-party plant in Potosí, and the company sold three silver-lead concentrate lots in January, April and August 2026 for about US$1.4 million to an international buyer; it describes this work as incidental to a metallurgical study rather than commercial production, and its accounts credit the proceeds against capitalised exploration costs. The project's 2020 mineral resource estimate (106.7 million ounces of silver Indicated and 13.1 million ounces Inferred, with zinc and lead) lies mostly in the area of a mining production contract with the state miner COMIBOL. That contract was never ratified by Bolivia's legislature, and COMIBOL issued a notice of cancellation in December 2024. Silver Elephant's suit to annul the cancellation has been admitted by the Supreme Tribunal of Justice, and no ruling or hearing date has been published. Title status: while the company holds no title over the contract area, and with no figure published for the part of the resource inside Apuradita, the resource is not counted on this page; it will be restored if the contract is reinstated. Apuradita is held separately and is not affected by the cancellation. The shares of the Bolivian subsidiaries remain in escrow under 2023 agreements with Andean Precious Metals that the company has since terminated. In June 2026 the company agreed to buy the Robinson-Lasher zinc-germanium-gallium project in Kentucky from CleanTech Vanadium Mining and now calls it its flagship; the purchase still needs regulatory and shareholder approvals, staged payments to 2029 and US$2 million of exploration spending, and title passes only once those terms and CleanTech's own option over the property are completed. In Mongolia, the Ulaan Ovoo coal mine was leased to a third-party operator in July 2026 for a per-tonne royalty, and the company also holds the Chandgana coal project.
Notable vs. Peers
- Jurisdiction risk score of 3/10 is meaningfully riskier than the peer average of 6.9/10.
- Financials score of 2.5/10 is weaker than the peer average of 5.9/10.
Lifecycle Milestones
Not yet determined: tailings facility, grid power.
Jurisdiction (40%)3/10
The Pulacayo Paca project is near Uyuni in Bolivia's Potosí Department. Bolivia has been a resource-nationalist jurisdiction with weak security of mining-concession title, though Rodrigo Paz's November 2025 election win marked a pro-investment policy shift that is beginning to improve the outlook.
Infrastructure (40%)7.9/10
A confirmed mill and confirmed road access at Pulacayo Paca Silver-Lead-Zinc Project (Pulacayo, Paca and Apuradita areas), Potosí, Bolivia; grid power and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:3.5/10
Stage: Resource Definition
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:3/10
Bolivia: jurisdiction score 3/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:5/10
Primary commodity: Silver
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Chief Executive Officer and Executive Chairman of Silver Elephant Mining Corp. (TSX: ELEF). CFA. Specialises in mining M&A and has raised over $150 million through TSX exchanges for junior companies since 2009. Identified and financed acquisitions including Lynn Lake nickel (2009), Ulaan Ovoo coal (2010), Wellgreen nickel-PGM (2011), Shakespeare nickel-PGM (2012), Pulacayo silver (2015), Gibellini vanadium (2017), Bisoni vanadium (2020) and Minago nickel-PGM (2021). A CFA charterholder with degrees in Economics and Engineering from Rice University. Source: silverelef.com/company/management/.
Executive Vice President, Finance and Chief Financial Officer of Silver Elephant Mining Corp. CPA, CGA. A financial executive with merger and acquisition experience in mining, complemented by strong IFRS and public company compliance knowledge. Previously EVP and CFO of Orea Mining Corp. and held senior financial positions with TSX and TSX Venture Exchange-listed companies. Holds a bachelor of commerce degree from the University of British Columbia and has been active in accounting and finance roles since 2006. Source: silverelef.com/company/management/.
Co-Founder and a Director of Silver Elephant Mining Corp. (TSX: ELEF). Over 40 years in venture capital, corporate finance and capital markets. A Founding Partner and Director of PI Financial and of Haywood Securities, with senior roles at Canaccord Genuity and Leede Financial specialising in resource financings. Also a Director and Audit Committee Chair of Silvercorp Metals (NYSE: SVM). A member of the Institute of Corporate Directors. Source: silverelef.com/company/management/.
A Director of Silver Elephant Mining Corp. Brings 40 years' experience in the mining and metals sector. Former Chairman and Director of Global Pacific Minerals, former President and CEO of Great China Mining, and a former Director of Alamos Gold Inc. and AuRico Metals Inc. Source: silverelef.com/company/management/.
A Director of Silver Elephant Mining Corp. J.D. A Director of KWG Resources Inc. since 2006, currently its Chairman, and a Director of Tartisan Nickel Corp. since 2006. Past President and Director of Fletcher Nickel Inc. and a past Director of Debut Diamonds Inc. Graduated from the University of Windsor Law School in 1972 and was called to the Ontario Bar in 1974. Completed the Rotman Institute Corporate Directors SME Program. Source: silverelef.com/company/management/.
An Advisor to Silver Elephant Mining Corp. (TSX: ELEF). Over 40 years in mineral exploration, holding M.Sc. degrees in Geology and in Mineral Economics from the Colorado School of Mines. Founder and President of Esperanza Resources, which was acquired by Alamos Gold, and responsible for six major precious metals discoveries. A Fellow of the Society of Economic Geologists, a Certified Professional Geologist, a Qualified Person under NI 43-101, and fluent in Spanish. Source: silverelef.com/company/management/.
An Advisor to Silver Elephant Mining Corp., advising on M&A strategy. Son of Eliezer Batista (1924-2018), founder and former president of CVRD, now Vale. Based in Brazil and California and fluent in Portuguese, German, English and Spanish. Source: silverelef.com/company/management/.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Silver Elephant Mining's main asset is the Pulacayo Paca silver-lead-zinc project 18 km east of Uyuni in Bolivia's Potosí Department, where a small underground operation at the Apuradita area feeds a third-party toll mill; three silver-lead concentrate lots were sold in January, April and August 2026 for about US$1.4 million, which the company describes as incidental to a metallurgical study rather than commercial production. An estimate effective 13 October 2020 put Pulacayo Paca at 106.7 million ounces of silver indicated and 13.1 million ounces inferred, but most of it lies in the area of a mining production contract with the state miner COMIBOL that was never ratified and that COMIBOL gave notice to cancel in December 2024. The company's suit to annul the cancellation has been admitted by Bolivia's Supreme Tribunal of Justice, and the resource is not counted while that area is untitled; the Apuradita area is held separately and is not affected. In June 2026 the company agreed to acquire the Robinson-Lasher zinc-germanium-gallium project in Kentucky, which it now calls its flagship, subject to approvals, staged payments to 2029 and US$2 million of exploration spending. In Mongolia it leased the Ulaan Ovoo coal mine to a third-party operator in July 2026 for a per-tonne royalty, and it also holds the Chandgana coal project.