# Highlander Silver Posts $37.75M in Q3 Revenue and $17.14M Net Loss

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/56969
Published: 2026-11-13T19:06:54.000Z
Updated: 2026-11-13T19:06:54.000Z
Section: Business

> Mercedes Mine gold and silver sales supplied all revenue; exploration expense rose as drilling began at Corani.

Highlander Silver Corp. generated $37.746 million in revenue and posted a $17.137 million net loss for the three months ended Sept. 30, 2026. Revenue came from the Mercedes Mine, while exploration expense rose to $22.259 million.

Basic and diluted loss per share were each $0.08. Highlander’s unaudited interim statements use IFRS Accounting Standards. The net loss compared with a restated $3.107 million loss, or $0.03 per share, in the year-earlier quarter, when the company had no revenue.

Sales from the Mercedes Mine in Mexico supplied all quarterly revenue. Highlander sold 8,368 ounces of gold and 41,829 ounces of silver. The company acquired the remaining Bear Creek shares on Feb. 26, 2026, and its statements consolidate Bear Creek from that date.

Bear Creek held the Mercedes Mine and the Corani Project in Peru. During the quarter, Highlander began its first exploration drilling program at Corani, using five rigs. Exploration expense climbed from $2.103 million in the restated third quarter of 2025 to $22.259 million, mainly reflecting work at the project.

Highlander recorded gross profit of $17.482 million. The quarter also included a $3.746 million net recovery in depletion, amortization and depreciation, following a $17.740 million reversal of depletion recognized in the first half of 2026. The reversal reflected revised fair values in Bear Creek’s purchase price allocation.