Silver Bullet Mines Corp.
Silver Bullet Mines Corp. (TSXV: SBMI, OTCQB: SBMCF) is a small-scale silver-gold-copper producer in the western US. Its flagship Black Diamond Project (~5,000 acres, Richmond Basin, Miami-Globe copper camp, Arizona -- site of the original 1870s native-silver discoveries) includes the past-producing KT and SC Mines, from which the company has shipped five commercial gold/silver concentrate shipments (first received by buyer October 2025, first payment January 2026) and is processing material for a sixth; a new high-grade silver/gold vein was discovered at KT Mine in January 2026, with in-house assays of 7-27 oz/ton silver across 12 samples. The company also holds the past-producing Washington Mine near Idaho City, Idaho. No NI 43-101 resource estimate has been published; the operation is characterized as small-scale toll/direct-shipping production rather than an engineered mine plan.
Notable vs. Peers
- Jurisdiction risk score of 9/10 is meaningfully safer than the peer average of 6.8/10.
- Financials score of 5.1/10 is weaker than the peer average of 7.1/10.
- Trading within 6% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Jul 2025 · Source
- Jul 2025 · Source
- Oct 2025 · Source
- Sep 2024 · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not yet determined: tailings facility, grid power.
Jurisdiction (40%)9/10
Arizona: Fraser PPI 2025 is 90.73 of 100 (rank 10 of 68), which maps to 9 on this site's scale. Arizona and Idaho, USA -- Tier-1 mining jurisdictions.
Infrastructure (40%)7.9/10
A confirmed mill and confirmed road access at Black Diamond Project (KT Mine); grid power and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)9.7/10
Pinto Valley (Capstone Copper Corp) is 24 km away -- within regional-platform range.
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:7.6/10
Nearest producing mine: Pinto Valley (Capstone Copper Corp), 24 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
United States: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% 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% · 9% 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 Director of Silver Bullet Mines Corp. Mining executive with over 40 years of experience with expertise in mineral processing.
Chief Financial Officer of Oreterra Metals Corp.; also Chief Financial Officer of Ibero Mining Corp., Falcon Gold Corp. and Searchlight Resources Inc. and Chief Financial Officer & Corporate Secretary of Silver Bullet Mines Corp. (CPA, CA.) University of Toronto graduate and former BDO Canada LLP partner. Has built several public companies on the TSXV and CSE; extensive experience as CFO and director for both public and private companies.
Vice President, Mining and Director of Silver Bullet Mines Corp. Mining industry professional with more than 30 years of operational experience.
Vice President, Capital Markets and Director of Silver Bullet Mines Corp. Experienced lawyer, investment banker, shareholder-rights activist and public company executive.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Three insiders bought on-market with real cash -- David Richardson (the company's largest insider) 1,714,286 shares at US$0.15 in August 2025, plus Peter Clausi and Brian Crawford 250,000 shares each at US$0.11 in May 2025 -- but all three purchases fall just outside the trailing 12 months as of this check, so they read as clean but stale buying rather than fresh conviction. No producer or specialist-fund stake was found.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
We haven't parsed this company's PEA/PFS/FS recommendations yet — cut-off grade, mine life, DCF/NPV, and the report's own next-steps guidance are a planned research pass, not live data for every company yet.