Bayhorse Silver Inc: Recent Developments in Warrant Extensions and Antimony Leaching

Bayhorse Silver Inc. (TSXV: BHVR), a Canadian‑based silver exploration and development company, has announced a series of corporate actions that are likely to influence both its capital structure and operational outlook. The company’s latest public filings and news releases, issued in late December 2025, highlight two key areas: (1) the extension and adjustment of warrant terms, and (2) significant progress in its antimony leaching program.

Warrant Extensions and Strike‑Price Correction

Extension of the 3.5 Million Warrant Issuance

On 10 December 2025 the company disclosed that the warrants it issued to investors as part of its financing package will now remain valid for a longer period than originally anticipated. While the initial issuance had a specified expiration date, the extension provides holders with additional time to exercise the warrants should they wish to convert them into shares at the prevailing strike price.

Strike‑Price Adjustment

Simultaneously, Bayhorse announced a correction to the strike price of the same warrant tranche. The adjustment is designed to align the warrant’s exercise price with the company’s current market valuation, thereby preserving fairness for shareholders and reducing potential dilution risk. The precise new strike price has not been disclosed in the public release, but the correction is intended to reflect the company’s latest valuation metrics and market conditions.

These moves are standard practice in the resource sector, where companies often use warrants to attract capital while maintaining flexibility in their capital structure. By extending the warrants, Bayhorse allows investors more time to evaluate the company’s progress, and the strike‑price correction ensures that the warrants remain a viable instrument for future capital raising or strategic partnerships.

Antimony Leaching Success at the Silver Mine

99 % Selective Leaching Achievement

Earlier in December, Bayhorse reported that its silver‑copper‑antimony‑zinc concentrate from the Bayhorse Silver Mine has achieved over 99 % selective antimony leaching. The test results demonstrate a highly efficient separation of antimony from the concentrate, a critical step in the production of high‑purity antimony products for industrial applications such as flame retardants, alloys, and batteries.

The leaching process involved a controlled acid treatment that selectively dissolved antimony while leaving other valuable metals intact. Achieving a leaching rate of 99 % or higher is noteworthy in the metallurgical community, as it indicates both a high quality of the ore and an optimized recovery process. For Bayhorse, this success translates into potential cost savings and a stronger competitive position in the antimony market.

Implications for the Company’s Value Proposition

The high‑yield leaching results bolster Bayhorse’s claim to possessing a technologically advanced and environmentally responsible production methodology. It also enhances the company’s appeal to downstream partners looking for reliable antimony sources, potentially opening avenues for joint ventures, supply contracts, or strategic acquisitions.

Market Context and Financial Snapshot

  • Share Price (08 Dec 2025): CAD 0.13, close to the 52‑week high of CAD 0.14.
  • Market Cap: CAD 41.5 million.
  • P/E Ratio: –12.94 (negative, reflecting ongoing exploration costs).
  • Sector: Materials, Industry: Metals & Mining.

Despite the volatility typical of junior mining shares, Bayhorse’s recent technical achievements and prudent financial maneuvering may contribute to a more stable trajectory. Investors monitoring the company should pay close attention to the forthcoming quarterly reports, which will detail whether the warrant adjustments and leaching efficiencies translate into tangible revenue growth.

Bottom Line

Bayhorse Silver Inc. has taken deliberate steps to strengthen its financial footing through warrant extensions and strike‑price corrections while simultaneously validating its technical capabilities with a 99 % antimony leaching rate. These developments, reported in December 2025, suggest a company that is both responsive to shareholder interests and committed to refining its extraction processes. For stakeholders and potential investors, the dual focus on capital structure flexibility and operational excellence represents a noteworthy convergence that could position Bayhorse for future upside in the silver and antimony markets.