Safi Silver Corp.
Safi Silver Corp. is a Canadian public mineral exploration company conducting diamond drilling at its Addana Project in Morocco's Anti-Atlas belt to discover polymetallic silver deposits. It is a pre-revenue junior miner, formerly Trigon Metals Inc., raising capital via private placements to fund exploration.
- Company typePublic
- Founded2005
- HeadquartersToronto, Canada
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Safi Silver Corp. does
Safi Silver Corp. is a Canadian public mineral exploration company listed on the TSX Venture Exchange (ticker SF, formerly Trigon Metals Inc.) that is repositioning itself as a focused polymetallic silver explorer following the divestiture of its Namibian copper assets. The company's core asset is the Addana Project in Morocco's Anti-Atlas belt, where it is conducting a diamond drilling program of up to 2,000 meters across 12 holes to test structurally controlled mineralized zones in quartz-carbonate veins prospective for silver-lead polymetallic mineralization. Drill core is geologically logged on-site and samples are sent to Afrilab, an ISO-certified analytical laboratory in Marrakech.
The business model is that of a pre-revenue exploration-stage junior miner: there are no producing assets, no recurring revenue streams, and no product pricing in the traditional sense. Capital is raised through private placement equity financings (including a C$5 million offering led by Beacon Securities Limited in July 2023 and approximately US$2.5 million across two tranches in early 2025), with notable participation from Eric Sprott. The corporate headcount is in the 51–100 range, with operational leadership including a CEO (Jed Richardson), President (Stephan Theron), Chief Exploration Officer (Andreas Rompel), CFO (Paul Bozoki), and VP of Corporate Development (Tom Panoulias), alongside a recent board addition (Noureddine Mokaddem) to support the Morocco strategy.
The company completed a short-form vertical amalgamation with its wholly-owned subsidiary on April 1, 2026, renaming itself Safi Silver Corp. and changing its TSX Venture Exchange trading symbol to SF effective April 28, 2026. Its sole revenue model stream is described as mineral exploration and development, with future monetization contingent on successful resource delineation, development, and either sale, joint venture, or production — outcomes not yet evidenced by the input data.
Safi Silver Corp. firmographics
Firmographics- Name
- Safi Silver Corp.
- Legal name
- Safi Silver Corp.
- Website
- https://safisilver.com
- Company type
- Public
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Safi Silver Corp. is a Canadian public mineral exploration company conducting diamond drilling at its Addana Project in Morocco's Anti-Atlas belt to discover polymetallic silver deposits. It is a pre-revenue junior miner, formerly Trigon Metals Inc., raising capital via private placements to fund exploration.
- Ownership category
- akta.pro rank
Safi Silver Corp. 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 industry
- Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)
Keywords
Where Safi Silver Corp. is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Safi Silver Corp. business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Others
Revenue model
- Mineral Exploration and Development: Pre-revenue exploration stage company focused on discovering and developing polymetallic silver deposits in Morocco. Revenue generation would occur upon successful mineral discovery and extraction, though the company is currently in exploration phase with no producing assets following the sale of its Kombat Mine interest in Namibia.
Distribution channels1 record
Marketing channels1 record
Safi Silver Corp. product offering
Product offeringCore offering
Safi Silver Corp. is a Canadian mineral exploration company that conducts diamond drilling programs to identify and assess polymetallic silver deposits in Morocco's Anti-Atlas belt, with the Addana Project as its sole core asset. The company targets structurally controlled mineralized zones in quartz-carbonate veins, with samples analyzed at ISO-certified laboratories such as Afrilab in Marrakech. The company is pre-revenue, having sold its prior interest in the Kombat Mine in Namibia to refocus on Moroccan silver exploration.
Product overview
Safi Silver Corp. is a mining exploration company that operates as a single-asset entity focused on the Addana Project in Morocco. Following the sale of its ownership interest in the Kombat Mine in Namibia, the company has repositioned itself as a focused Moroccan polymetallic silver exploration company. The company conducts diamond drilling programs to assess mineralization continuity and grade in structurally controlled mineralized zones.
Differentiator
Problem solved
Functional benefit
Products and services
- Addana Project
Companies that use Safi Silver Corp.
Customer profileSegments1 record
Ideal customer profiles1 record
Safi Silver Corp. technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Safi Silver Corp. partnerships and signals
Strategic signalScale indicators4 records
Recent moves8 records
Expansion highlights5 records
Safi Silver Corp. competitors and assessment
Company assessmentDirect peers
- Aya Gold & Silver: A Canadian-listed silver miner with producing operations and exploration assets in Morocco's Anti-Atlas belt. It is the most directly comparable operator, sharing both the jurisdiction and the polymetallic silver-lead geological model that Safi Silver is targeting at Addana.
- Maya Gold & Silver: Previously operated the Zgounder silver mine in Morocco and remains a Morocco-focused silver peer. Comparable to Safi Silver as a small-cap Moroccan silver story with similar jurisdictional and geological exposure.
- Silvercorp Metals: A silver-focused producer with operations primarily in China and recent expansion into Latin America. Relevant as a comparable pure-play silver mining business model, although operating in a different geography and at a more advanced stage.
- MAG Silver: A silver exploration and development company focused on high-grade silver projects in Mexico. Comparable to Safi Silver as a single-asset, high-grade silver developer, with similar leverage to discovery and re-rating outcomes.
- Endeavour Silver: A mid-tier silver producer operating mines in Mexico. Comparable as a silver-focused mid-cap that bridges exploration juniors like Safi Silver and larger diversified producers, useful for valuation read-throughs.
Broad incumbents
- First Majestic Silver: A larger, established silver producer with multiple operating mines in Mexico. Comparable as a senior silver incumbent whose valuation dynamics inform how the market should price a focused junior silver explorer over time.
- Pan American Silver: A large, diversified silver producer with a global portfolio of mines. Useful as a broad incumbent benchmark for silver-price exposure and as a potential acquirer profile for developers like Safi Silver.
- Hecla Mining: The largest U.S.-based silver producer with operations across the Americas. Comparable as a senior silver incumbent and a likely M&A counterparty for advanced silver projects in jurisdictions like Morocco.
Emerging players
- Alexco Resource Corp. A silver exploration and development company with assets in the historic Keno Hill district in Canada's Yukon. Comparable to Safi Silver as a single-asset, high-grade silver developer, although in a different jurisdiction.
- Americas Gold & Silver: A small-cap silver and gold producer with operations in the Americas. Comparable to Safi Silver in size and stage, with similar leverage to silver prices and a development-stage profile.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Safi Silver Corp. social profiles
Digital presenceSafi Silver Corp. financial estimates
Financial estimateRevenue estimate
Valuation estimate
Safi Silver Corp. leadership team
Management profileNumber of profiles
Profiles6 records
Safi Silver Corp. funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Safi Silver Corp. M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Safi Silver Corp.
What does Safi Silver Corp. do?
Safi Silver Corp. is a Canadian mineral exploration company that conducts diamond drilling programs to identify and assess polymetallic silver deposits in Morocco's Anti-Atlas belt, with the Addana Project as its sole core asset. The company targets structurally controlled mineralized zones in quartz-carbonate veins, with samples analyzed at ISO-certified laboratories such as Afrilab in Marrakech. The company is pre-revenue, having sold its prior interest in the Kombat Mine in Namibia to refocus on Moroccan silver exploration.
Is Safi Silver Corp. a public or private company?
Safi Silver Corp. is a public company. It is classified as public and is currently operating.
When was Safi Silver Corp. founded?
Safi Silver Corp. was founded in 2005. It employs 51 to 100 people.
Where is Safi Silver Corp. based?
Safi Silver Corp. is headquartered in Toronto, Canada, in the North America region.
How does Safi Silver Corp. make money?
One revenue line is on record: mineral Exploration and Development.
Who are Safi Silver Corp.'s main competitors?
Direct peers on record are Aya Gold & Silver, Maya Gold & Silver, Silvercorp Metals, MAG Silver and Endeavour Silver. Broad incumbents are First Majestic Silver, Pan American Silver and Hecla Mining. Emerging players are Alexco Resource Corp. and Americas Gold & Silver.
Does Safi Silver Corp. have an API?
No public API is recorded for Safi Silver Corp..
What industry is Safi Silver Corp. in?
Safi Silver Corp.'s product category is Mineral Exploration. Its primary akta.pro industry code is IMAKAEAB, Silver Mining, with a secondary code of IMAKAKAA, Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling). Its NAICS code is 212220 and its SIC code is 1040.