- Business
- Silver Bear Resources Plc engages in the acquisition, exploration, evaluation and development of precious metal properties, primarily silver, in the Russian Federation. The company focuses on its wholly-owned Mangazeisky Silver Project, covering a 570 square kilometre exploration licence area that hosts the high-grade Vertikalny deposit, one of the world's highest-grade silver deposits, as well as the Mangazeisky North deposit; it explores for silver, gold, copper, lead and zinc; and operates the Vertikalny silver mine, which achieved first silver production in April 2018 and full commercial production on July 1, 2019. The project is located approximately 400 kilometres north of Yakutsk in the Republic of Sakha (Yakutia). Founded in 2017 and headquartered in London, United Kingdom, the company lists on the Toronto Stock Exchange under the ticker SBR and trades over-the-counter as SVBRF. Operations face challenges from EU sanctions imposed since late 2022, including the ninth sanctions package, which prohibits its EU-based lenders Inflection Management Corporation Limited and Aterra from extending loan maturities or providing new financing for a flotation facility and underground mining at Vertikalny, leaving approximately $182.68 million in principal and $32.39 million in accrued interest overdue; the company reports net losses, including CAD 18.15 million for the third quarter of 2025, and has pursued alternatives such as seeking Russian refinancing or joint partners.