First Majestic Silver hits an all-time high! Could Silver Viper Minerals be next? Resistance at Bayer!

Silver Viper Minerals: “Drill, drill, drill” and takeover speculation

Silver Viper Minerals outlined a clear growth path at last week’s IIF investor conference. And CEO Stephen Cope provided several short-term catalysts. First, there is the Coneto deal. After delays due to the update of the NI 43-101 report, this is now expected to be completed “in the next one to two weeks.” After closing, Coneto will be aggressively advanced with two drilling rigs. Cope also indicated that the company plans to continue to grow as an active explorer in Mexico and that additional acquisitions are an option. At the same time, drilling is already underway at the flagship La Virginia project. Extensive historical and current drilling data have already created a robust resource base with recovery rates of 90% to 95%.

Fundamentally, Silver Viper is positioned with two resource pillars and an attractive gold-silver mix. La Virginia currently has around 700,000 gold equivalent ounces (approximately 60% gold / 40% silver) and, in the management’s view, offers “plenty of room” for the leap towards a multi-million-ounce project. Coneto stands at around 535,000 gold equivalent ounces (approximately 50/50 gold/silver). There, too, the aim is to significantly increase the scale of the project in the future. The strategic environment is conducive to this. Good infrastructure and support from local communities should reduce risks, while the geology offers abundant potential.

The capital market positioning also looks sound. Cope emphasized a neat and tidy shareholder structure, strong institutional support from well-known commodity investors/funds, and a clear focus on value drivers. “Drill, drill, drill” is the clear strategy. Even in tighter capital markets, drilling is the non-negotiable priority in order to “dramatically” expand resources in 12 to 18 months. This should also make the company a takeover candidate.

https://youtu.be/8XvydXs-waA?si=5sFPh1MgZSGE7m2u

First Majestic Silver celebrates record highs

While Silver Viper’s share price is still a long way off its January high of CAD 2.57 and is tempting investors at its current price of CAD 1.55, First Majestic Silver shot to a new all-time high on Friday. At a price of CAD 43.64, the silver group is now worth over CAD 21 billion on the stock market. To put this into perspective, 12 months ago, the share price was below CAD 8.

The share price was driven by strong figures last week. First Majestic reported on the fourth quarter of 2025. In this quarter, the company increased silver production by 77% to 4.2 million ounces, setting a new record.

Revenue rose even more sharply. It climbed 169% year-on-year to USD 463.9 million. This resulted in net income of USD 105.2 million, or USD 0.17 per share. In the same quarter of the previous year, a net loss of USD 13.5 million was reported. Operating cash flow shot up to USD 301.0 million, or USD 0.61 per share, in the last quarter of 2025. In the same quarter of the previous year, it was only USD 62.4 million, or USD 0.21 per share. Due to the record figures, a quarterly dividend of USD 0.0083 per share is to be distributed.

Bayer: Glyphosate lawsuits not over yet?

From mid-November 2025 to mid-February 2026, Bayer’s share price climbed from around EUR 27 to around EUR 50. This rise was partly driven by investor optimism that the glyphosate saga might finally be resolved, possibly through a US Supreme Court decision. To facilitate this, a USD 7.25 billion settlement was proposed.

But it does not seem to be that simple for the Leverkusen-based company. Resistance is mounting. Lawyers have filed a motion in the US state of Missouri to postpone the decision by at least 60 days. They represent 20,000 plaintiffs. A total of around 65,000 lawsuits are pending in the US relating to glyphosate.

When announcing the settlement on February 17, 2026, Bayer CEO Bill Anderson emphasized that the "overwhelming majority" of plaintiffs must participate for the agreement to proceed. If this condition is not met, Bayer retains the option to withdraw from the settlement.

Bayer shares have lost some steam in recent days. Over the past two weeks, they have lost around 15% of their value and were trading at EUR 42 on Friday. However, over the past 12 months, the share price has still risen by an impressive 84%.

The silver rally is far from over. The price has stabilized at a high level and is giving the industry a boost. First Majestic remains a core investment in the sector. Silver Viper Minerals is likely to have a surprise or two in store this year. And then, of course, there is the takeover speculation. Bayer shares have performed very well in recent months. A prolonged consolidation would come as no surprise.