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Capitan SilverTSXV:CAPT

Silver explorer, with a project stated to be in Durango, Mexico.

Durango · Mexico — as stated on the recordings

explorer silver Durango, Mexico
Oct 2025 → Mar 2026Covered
6 of 10Topics on record
1Figures tracked over time
1 executiveNamed on the record
Generate Claims & Checks What management and commentators said, and what still needs independent verification 3 interviews with the company · 6 independent recordings
Stage
Explorer
Primary commodity
Silver
Jurisdiction
Durango, Mexico
Deposit
intermediate sulfidation epithermal deposit
Latest appearance
09 Mar 2026
On record
3 interviews · 35 statements · 1 executive

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
525,000 ounces of gold
Management-stated Alberto Orozco Jan 2026
Grade
high-grade silver zone
Management-stated Alberto Orozco Jan 2026
Money on hand
Jupiter Gold and Silver Fund led financing at 30% premium
Stated capital need: 60,000 meters
Management-stated Alberto Orozco Mar 2026
What happens next
60,000 meter drilling program announced and started
Management-stated Alberto Orozco Mar 2026
The main open question
Management's own disclosures show significant technical risk: the company acknowledges needing 20 to 30 drill holes to hit new high-grade zones when stepping out just 100 to 200 meters, and states a "large amount of drilling" will be…
Weighed from the statements below, not our opinion of the company.
Our reading
How outsiders read it
5 independent voices on record — 5 constructive, 2 neutral
John-Mark Staude, Michael Gentile, Geordie Mark, Saf Dhillon…
Outside voices

How the stated figures have moved

The same figure, as management put it on the earliest and the latest recording we hold. A difference may be a genuine update, a different measure of the same thing (total against indicated), or a mis-heard number — both quotes are here, and both recordings are one click away.

Grade ? Wording changed One statement carries no figure to compare 2 statements on record
10 Oct 2025
between 300 and 2 kilos per ton silver alone
“they were producing there between reportedly between 300 and 2 kilos per ton silver alone uh from that mine.”
22 Jan 2026
high-grade silver zone
“we we restart our drilling at the project and got some stellar results, expanding our silver zone”

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Capitan Silver's own claims across 3 interviews — most-covered theme first.

What outside voices pick up on

5 independent voices — people who do not speak for the company — across 7 mentions.

5 constructive 2 neutral
  • John-Mark Staude “Held up as an example of a successful earlier spinout and shareholder value creation.”
  • Michael Gentile “He names it as one of the rare silver equities he finds attractively valued.”
  • Geordie Mark “Referenced as a prior successful Riverside Resources spinout (silver in Mexico), used as a precedent for the Blue Jay spinout stru…”
  • Saf Dhillon “Referenced historically as a Riverside Resources spin-out comparable; opened ~$0.30s, traded near $2.50, now ~$2 at time of filmin…”

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management says the team has delivered three mines on time and on budget at Argonaut Gold, now combining that track record with a 60,000-meter drill program funded by $29 million raised at a 30% premium, targeting silver-gold…

What it rests on
Evidence: 3 moments from 2 interviews
Read the full case

Management says the team has delivered three mines on time and on budget at Argonaut Gold, now combining that track record with a 60,000-meter drill program funded by $29 million raised at a 30% premium, targeting silver-gold mineralization in an intermediate sulfidation epithermal system with over 20 kilometers of mapped structures. An outside investor noted the company is one of the rare silver equities he finds attractively valued, while prior Riverside spinouts from the same structure have delivered 10x returns.

▼ Bear case

Management's own disclosures show significant technical risk: the company acknowledges needing 20 to 30 drill holes to hit new high-grade zones when stepping out just 100 to 200 meters, and states a "large amount of drilling" will be…

What it rests on
Evidence: 3 moments from 3 interviews
Read the full case

Management's own disclosures show significant technical risk: the company acknowledges needing 20 to 30 drill holes to hit new high-grade zones when stepping out just 100 to 200 meters, and states a "large amount of drilling" will be required to test full potential. The Jesus Maria target, its most advanced, has only 1.5 kilometers of strike length drilled and drilling has just begun at the main property—permitting on new ground is still underway—leaving execution risk and timeline uncertainty until economic-scale mineralization is confirmed at depth.

◆ Watch next

The 60,000-meter drill program announced for 2026, with multiple rigs ramping to capacity in coming days to weeks, will define whether the tripled target (21 kilometers versus 7 kilometers) and depth extension to 150–200 meters deliver the…

What it rests on
Evidence: 3 moments from 3 interviews
Read the full case

The 60,000-meter drill program announced for 2026, with multiple rigs ramping to capacity in coming days to weeks, will define whether the tripled target (21 kilometers versus 7 kilometers) and depth extension to 150–200 meters deliver the high-grade ounces needed to move from exploration into development feasibility. First results from the initial 11 holes have identified one new high-grade zone; consistency and grade expansion over the next 6–12 months will determine project scale and shareholder return potential.

Each moment links to the exact point in the source recording. The cases are drawn from the transcripts, weighed as written — they are not a rating, a target or a recommendation.

Project 24 statements

The deposit 13

Key takeaway. Management describes the deposit as an intermediate sulfidation epithermal system (or intermediate sulfidation type of system in earlier statements).

Read the full summary

As of January 2026, the company reports a resource of 525,000 ounces of gold and notes a high-grade silver zone, with grades mentioned in October 2025 of between 300 and 2 kilos per ton of silver alone. On exploration upside, management has stated that the property now totals over 20 kilometers cumulative of structures (Oct 2025), with later claims in March 2026 tripling targets from seven kilometers of high-grade silver structures to over 21 kilometers, and adding that a disseminated gold deposit sits next to the silver vein.

What was actually said
deposit type
intermediate sulfidation epithermal deposit
“you have a project that is right in the middle of Mexico silver trend that you have an an intermediate sulfidation epithermal deposit”
Alberto Orozco· 09 Mar 2026·
exploration upside
disseminated gold deposit next to silver vein
“we do have a disseminated gold deposit right next to to the silver”
Alberto Orozco· 09 Mar 2026·
exploration upside
tripling targets from seven kilometers cumulative of high-grade silver structures to over 21 kilometers
“basically on the silver uh front tripling our targets from seven kilometers cumulative of high-grade silver structures to over 21”
Alberto Orozco· 09 Mar 2026·
Show the other 10 statements
deposit type
intermediate sulfidation system
“Uh in this case we have an intermediate sulfidation system that you could compare with visas panuko”
Alberto Orozco· 22 Jan 2026·
exploration upside
20 kilometers of veins
“We now have 20 kilometers of veins. So that's that's the significance in in numbers.”
Alberto Orozco· 22 Jan 2026·
grade
high-grade silver zone
“we we restart our drilling at the project and got some stellar results, expanding our silver zone”
Alberto Orozco· 22 Jan 2026·
resource size
525,000 ounces of gold
“we increased resources by 115% coming to 525,000 ounces of gold um in pits constrained”
Alberto Orozco· 22 Jan 2026·
deposit type
intermediate sulfidation type of system
“Well, look, um, we have an intermediate sulfidation type of system.”
Alberto Orozco· 10 Oct 2025·
exploration upside
over 20 kilometers cumulative of structures
“So what we we had I think seven kilometers cumulative of structures we're now over 20.”
Alberto Orozco· 10 Oct 2025·
exploration upside
Jesus Maria target with 1.5 kilometers of strike length with drilling
“our most advanced one careers ly is is Jesus Maria where we have already one and a half kilometers of strike length with drilling.”
Alberto Orozco· 10 Oct 2025·
exploration upside
added over 2,000 hectares to the property package
“Uh well, we added over 2,000 hectares to the package.”
Alberto Orozco· 10 Oct 2025·
exploration upside
high-grade silver trend extended by 1.2 km of unsurface mapping and sampling
“What this land consolidation did is first it added an additional 1.2 km of unsurface mapping and sampling of these structures.”
Alberto Orozco· 10 Oct 2025·
grade
between 300 and 2 kilos per ton silver alone
“they were producing there between reportedly between 300 and 2 kilos per ton silver alone uh from that mine.”
Alberto Orozco· 10 Oct 2025·

Jurisdiction 6

Key takeaway. Management says the company's project is located in Durango, Mexico, a jurisdiction it has consistently referred to in its Mar 2026, Jan 2026, and Oct 2025 interviews.

Read the full summary

As of Oct 2025, the company reports it is currently working on permitting for drilling on the new property.

What was actually said
country
Mexico
“Aggressively exploring the Cruslata project in Durango, Mexico.”
Alberto Orozco· 09 Mar 2026·
region
Durango, Mexico
“Aggressively exploring the Cruslata project in Durango, Mexico.”
Alberto Orozco· 09 Mar 2026·
country
Mexico
“We are in Mexico with a similar deposit that has additional economics uh benefits to it”
Alberto Orozco· 22 Jan 2026·
Show the other 3 statements
region
Durango, Mexico
“Currently exploring the Cruz Depata project in Durango, Mexico”
Alberto Orozco· 22 Jan 2026·
country
Mexico
“Currently exploring the Cruz Plata project in Mexico.”
Alberto Orozco· 10 Oct 2025·
permit status
currently working on permitting for drilling in the new property
“We're currently working on the permitting for the drilling in the new property”
Alberto Orozco· 10 Oct 2025·

Technical risk 5

Key takeaway. Management acknowledges a significant technical risk: a substantial amount of drilling is needed to test the project's full potential.

Read the full summary

The company assumes that 20 to 30 holes are required to hit new high-grade zones when stepping out 100 to 200 meters, and that mineralization extends to depth in the top 150 maybe 200 meters. On the positive side, management says the outcropping system reduces costs for exploration and development and comes to surface, which helps metallurgy.

What was actually said
key assumption
20 to 30 holes needed to hit new high-grade zones when stepping out 100 to 200 meters
“how much drilling does it take to find these new high-rade zones and that's very consistent in in most projects and it can be 20 to 30 holes before you hit that new high grade zone when you're stepping out.”
Alberto Orozco· 09 Mar 2026·
key assumption
outcropping system reduces costs for exploration and development
“we have an outcropping system is going to reduce our costs from the exploration stage”
Alberto Orozco· 22 Jan 2026·
stated risk
significant amount of drilling required to test full potential
“we know that very likely we will have to do a large um amount of drilling to really test the full potential”
Alberto Orozco· 22 Jan 2026·
Show the other 2 statements
key assumption
mineralization extends to depth in top 150 maybe 200 meters
“this drill program has the goal of showing that this mineralization is actually there uh at depth on the top 150 maybe 200 meters.”
Alberto Orozco· 10 Oct 2025·
metallurgy
outcropping system that comes to surface
“So, we have this these structures mapped and sampled on surface. Uh, it's an outcropping system. So, if you visit the the project, you can stand right on it. It comes to surface.”
Alberto Orozco· 10 Oct 2025·

Economics 4 statements

Financing 4

Key takeaway. Capitan Silver management reports it raised financing led by the Jupiter Gold and Silver Fund at a 30% premium to the market price, according to a March 2026 statement.

Read the full summary

The company says it holds $29 million in cash as of January 2026, and that a 60,000-meter program is the capital needed. In October 2025 management also said it was focused on printing the least number of shares.

What was actually said
financing status
Jupiter Gold and Silver Fund led financing at 30% premium
“the the main catalyst in getting the company from that out of that state was bringing in um Jupiter gold and silver fund who led uh a financing at a 30% premium.”
Alberto Orozco· 09 Mar 2026·
capital needed
60,000 meters
“We just announced this morning a new program for 60,000”
Alberto Orozco· 22 Jan 2026·
cash position
$29 million
“raising $29 million uh just in between December and and very early January”
Alberto Orozco· 22 Jan 2026·
Show the other 1 statement
dilution
printing the least number of shares
“by printing the least number of shares yeah possible”
Alberto Orozco· 10 Oct 2025·

Timeline 4 statements

Timeline 4

Key takeaway. Capitan Silver's management outlined a series of drilling milestones.

Read the full summary

In October 2025, the company reported the first 11 holes from its program and said it had identified one new high-grade zone. The company announced a 60,000-meter drilling program planned for 2026 (stated in January 2026), and by March 2026 management said that program had been started, with a reverse-circulation rig ramping up at 100% capacity and plans to add a core rig and at least two more core rigs in the "coming days to weeks."

What was actually said
milestone
60,000 meter drilling program announced and started
“We announced a 60,000 meter program, right? And you've done any of that yet? Yeah. Yeah, we started uh in generator.”
Alberto Orozco· 09 Mar 2026·
milestone
ramping up drilling with RC rig at 100% capacity, adding core rig and at least two more core rigs in coming days to weeks
“We've added a core rig and we have at least two more core rigs uh showing up the project in the next days to weeks.”
Alberto Orozco· 09 Mar 2026·
milestone
60,000 meter drill program in 2026
“We just announced this morning a new program for 60,000”
Alberto Orozco· 22 Jan 2026·
Show the other 1 statement
milestone
first 11 holes reported, identified one new high-grade zone
“We've been really successful already in our first 11 holes that we reported. Identified one new highrade zone”
Alberto Orozco· 10 Oct 2025·

Corporate 3 statements

Management 3

Key takeaway. Capitan Silver's management says its team has a track record of putting three mines into production on time and on budget from their time at Argonaut Gold (stated both in October 2025 and March 2026).

Read the full summary

The company also reports that the team has worked together on mine construction and operations in the same area of Durango, Mexico, as the Cruz de Plata project (March 2026).

What was actually said
team experience
worked together on mine construction and operations in same area as Cruz de Plata, Durango
“uh and also in the same area where we're working at in Cruz de Plata. So those mines are just an hour drive south right of where we are.”
Alberto Orozco· 09 Mar 2026·
track record
team put three mines into production on time and on budget at Argonaut Gold
“we all worked together at Argonaut Gold uh during that phase of resource expansion construction and getting the operations going. So we have the team that that did that that put three mines into production on time and on budget.”
Alberto Orozco· 09 Mar 2026·
track record
team built and operated mines in the past, ex Argonaut, put three mines into production on time and on budget
“Most of our our team as you know is ex Argonaut. Uh we built and you know we put into production three minds on time and on budget”
Alberto Orozco· 10 Oct 2025·

Outside views 7 mentions

7 mentions by people who do not speak for the company — 5 constructive, 0 cautious, 2 neutral. These are their views, not the company's.

Held up as an example of a successful earlier spinout and shareholder value creation.
Resource Talks· 14 Jul 2026·
Prior Riverside spin-out; started at $0.20, now trading around $2 — a 10-bagger
In it to Win it· 10 Jul 2026·
Michael Gentile
bullish
He names it as one of the rare silver equities he finds attractively valued.
Palisades Gold Radio· 01 Jul 2026·
Geordie Mark
neutral
Referenced as a prior successful Riverside Resources spinout (silver in Mexico), used as a precedent for the Blue Jay spinout structure.
The Deep Dive· 16 Jun 2026·
Show the other 3 mentions
Cited as an example of a successful Riverside-linked value creation, with a large historical share-price move.
Rule Investment Media· 11 May 2026·
Saf Dhillon
neutral
Referenced historically as a Riverside Resources spin-out comparable; opened ~$0.30s, traded near $2.50, now ~$2 at time of filming. Used as a precedent for Riverside partnership model.
The Deep Dive· 17 Apr 2026·
Unknown speaker
bullish
Described as a successful spinout and a valuation success, used to illustrate Riverside’s monetization model.
Resource Talks· 27 Mar 2026·

Sources 3 interviews

Every interview 3

DateChannelInterviewStatements
09 Mar 2026 Crux Investor Capitan Silver (TSXV:CAPT) - 60,000m Drilling to Prove Scale at Cruz de Plata 11
22 Jan 2026 Crux Investor Capitan Silver (TSXV:CAPT) - 60,000m Drill Blitz Targets 20km Mexican Silver System in 2026 11
10 Oct 2025 Crux Investor Capitan Silver (TSXV:CAPT) - Triples Exploration Target at Historical Cruz de Plata Silver District 13

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

silver 3
gold 2
silvercrest metals 1
capitan silver corp 1
capitan silver corp. 1
fresnillo plc 1

Questions people ask

What is Capitan Silver's project and where is it?

Capitan Silver is a explorer silver company, with a project stated to be in Durango, Mexico. Everything here is drawn from its executives' own interviews.

Which interviews mention Capitan Silver?

We track 3 interviews mentioning Capitan Silver, across 1 channel (Crux Investor).

What are investors saying about Capitan Silver?

7 independent voices — people who do not speak for the company — are on record discussing it (5 bullish, 2 neutral). Their reasoning is quoted in the outside-view section above.

What do recent interviews with Capitan Silver cover?

The most-discussed topics on record are the deposit, jurisdiction, technical risk, financing — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

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