Reyna Silver
Reyna Silver was a Vancouver-based mineral exploration company focused on silver and gold properties in Mexico. Founded in 2018, it merged with Reyna Gold in August 2024 before being acquired by Torex Gold Resources for approximately $27.4 million in 2025.
- Company typePrivate
- Founded2018
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Reyna Silver does
Reyna Silver was a Vancouver, Canada-based mineral exploration company founded in 2018, operating with a focus on silver and gold exploration properties in Mexico. The company's primary assets were a portfolio of mineral claims and exploration concessions in prospective Mexican geology, including areas within the Guerrero Gold Belt. As an exploration-stage junior, Reyna Silver had no commercial production or revenue; its operating model relied on successive equity financings to fund drilling, geological work, and property maintenance. Funding rounds from 2020 through early 2025 totaled roughly $16 million, with declining round sizes over time reflecting the typical burn pattern of an exploration company that had not yet reached a production decision.
In August 2024, Reyna Silver signed a definitive agreement to merge with Reyna Gold, a sister company, with the stated goal of consolidating exploration assets and building market presence as a combined entity. The merger was intended to broaden the combined portfolio and create operational synergies in Mexico-focused exploration. The company's leadership team included Lauren Megaw as Vice President of Corporate Development and Bethany Terracina as Vice President of Investor Relations, indicating a lean corporate structure typical of junior explorers.
In 2025, Reyna Silver was acquired by Torex Gold Resources Inc., a TSX-listed intermediate gold producer, for approximately $27.4 million. The acquisition added Reyna Silver's Mexican exploration properties to Torex Gold's portfolio, which includes the flagship Morelos Property and the Los Reyes project. Following the acquisition, Reyna Silver ceased to operate as an independent entity and became a wholly-owned subsidiary of Torex Gold Resources. The company's stock, previously referenced under the OTCQX symbol RSNVF, is no longer trading as an independent security.
Reyna Silver firmographics
Firmographics- Name
- Reyna Silver
- Website
- https://reynasilver.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Acquired
- Headcount range
- 11–50 employees
- Short description
- Reyna Silver was a Vancouver-based mineral exploration company focused on silver and gold properties in Mexico. Founded in 2018, it merged with Reyna Gold in August 2024 before being acquired by Torex Gold Resources for approximately $27.4 million in 2025.
- Ownership category
- akta.pro rank
Reyna Silver industry classification
Industry- Product category
- Mineral Exploration
- NAICS
- Gold Ore and Silver Ore Mining (212220)
- SIC
- Gold And Silver Ores (1040)
- akta.pro primary industry
- Silver Mining (IMAKAEAB)
- akta.pro secondary industries
- Gold Mining (IMAKAEAA), Precious Metals Exploration & Project Development (IMAKAEAI)
Keywords
Where Reyna Silver is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Markets served
Reyna Silver business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain, Technology or R&D, Others
Reyna Silver product offering
Product offeringCore offering
Reyna Silver was a mineral exploration company focused on identifying, acquiring, and advancing silver and gold exploration properties, with its primary asset portfolio located in Mexico. The company did not produce or sell finished mineral products; its core activity was grassroots and early-stage exploration work on prospective mining claims.
Product overview
Reyna Silver is a mining and exploration company that has merged with Reyna Gold. The company's exploration properties were acquired by Torex Gold Resources in 2025 for approximately $27.4 million. As an exploration-stage company, Reyna Silver's primary assets consisted of mineral exploration properties in Mexico.
Differentiator
Problem solved
Functional benefit
Companies that use Reyna Silver
Customer profileIdeal customer profiles2 records
Reyna Silver technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Reyna Silver partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Reyna GoldcoreReyna Silver signed a definitive agreement to merge with Reyna Gold, with the aim of becoming a leading exploration company. This strategic merger was intended to enhance exploration capabilities and market presence.
Scale indicators1 record
Recent moves6 records
Expansion highlights3 records
Reyna Silver competitors and assessment
Company assessmentDirect peers
- MAG Silver Corp. MAG Silver is a silver-focused exploration and development company with primary assets in Mexico (Juanicipio joint venture with Fresnillo). It is directly comparable to Reyna Silver as a Mexican silver-asset developer that has been the target of major-producer acquisition interest.
- Endeavour Silver Corp. Endeavour Silver is a mid-tier silver and gold mining company operating multiple mines in Mexico. It is a direct peer given its overlapping silver-gold focus, Mexican operating footprint, and status as a candidate consolidator or consolidation target in the same region as Reyna Silver's portfolio.
- SilverCrest Metals Inc. SilverCrest Metals is a silver-gold developer with assets in Mexico (Las Chispas). It is directly comparable to Reyna Silver as a Mexico-focused precious-metals developer that was acquired by a major producer (Coeur Mining), illustrating the consolidation pathway Reyna Silver ultimately followed.
- Avino Silver & Gold Mines Ltd. Avino Silver & Gold Mines is a silver-gold producer and explorer with its flagship Avino mine in Mexico (Durango). It is a direct peer on commodity mix, geography, and scale as a junior-to-intermediate Mexican precious-metals operator.
- Reyna Gold Corp. Reyna Gold was Reyna Silver's sister company and merger counterpart in August 2024. It shares the same Mexican precious-metals exploration focus, management lineage, and was the explicit vehicle for the portfolio combination that preceded Torex Gold's acquisition.
Broad incumbents
- First Majestic Silver Corp. First Majestic is a larger established silver producer with operations centered in Mexico. It overlaps materially with Reyna Silver on commodity (silver) and geography (Mexico) and represents the kind of intermediate-producer consolidator most likely to pursue Reyna-style Mexican exploration portfolios.
- Torex Gold Resources Inc. Torex Gold is the intermediate gold producer that acquired Reyna Silver in 2025. It is the parent consolidator and most directly relevant peer because the transaction itself establishes Torex as the natural buyer for Reyna-style Mexican exploration assets, including the Los Reyes project that sits adjacent to Reyna's footprint.
- Hecla Mining Company: Hecla Mining is a large, established silver and gold producer with diversified North American operations. It is comparable as a senior precious-metals consolidator with a long history of acquiring junior exploration-stage companies to replenish reserves.
- Coeur Mining, Inc. Coeur Mining is a precious-metals producer with Mexican and U.S. operations that acquired SilverCrest Metals in 2025. It is directly relevant as a peer consolidator pursuing the same Mexican silver-gold consolidation thesis that culminated in Torex's acquisition of Reyna Silver.
Emerging players
- Dolly Varden Silver Corporation: Dolly Varden Silver is a junior silver exploration company with assets in British Columbia's Golden Triangle. It is comparable as a silver-pure-play exploration-stage company pursuing resource growth, though operating in a different North American jurisdiction than Reyna Silver.
Market position
Strengths3 records
Weaknesses3 records
Competitive moat2 records
Key risks4 records
Key highlights4 records
Customer concentration
Reyna Silver social profiles
Digital presenceReyna Silver financial estimates
Financial estimateRevenue estimate
Valuation estimate
Reyna Silver leadership team
Management profileNumber of profiles
Reyna Silver funding detail
Funding detailFunding overview
Funding rounds6 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Reyna Silver M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Reyna Silver
What does Reyna Silver do?
Reyna Silver was a mineral exploration company focused on identifying, acquiring, and advancing silver and gold exploration properties, with its primary asset portfolio located in Mexico. The company did not produce or sell finished mineral products; its core activity was grassroots and early-stage exploration work on prospective mining claims.
Is Reyna Silver a public or private company?
Reyna Silver is a private company. It is classified as corporate owned and is currently acquired.
When was Reyna Silver founded?
Reyna Silver was founded in 2018. It employs 11 to 50 people.
Where is Reyna Silver based?
Reyna Silver is headquartered in Vancouver, Canada, in the North America region.
Who are Reyna Silver's main competitors?
Direct peers on record are MAG Silver Corp., Endeavour Silver Corp., SilverCrest Metals Inc., Avino Silver & Gold Mines Ltd. and Reyna Gold Corp.. Broad incumbents are First Majestic Silver Corp., Torex Gold Resources Inc., Hecla Mining Company and Coeur Mining, Inc.. Dolly Varden Silver Corporation is listed as an emerging player.
Does Reyna Silver have an API?
No public API is recorded for Reyna Silver.
What industry is Reyna Silver in?
Reyna Silver's product category is Mineral Exploration. Its primary akta.pro industry code is IMAKAEAB, Silver Mining, with a secondary code of IMAKAEAA, Gold Mining. Its NAICS code is 212220 and its SIC code is 1040.