Key Highlights

  • West Coast Silver shares traded up 7.84% at $0.055 during the 11 November 2026 trading session.
  • The updated Elizabeth Hill resource grew 20% to 3.36 million ounces of silver, with 77% in the indicated category.
  • Follow-up drilling has started to test extensions to the north-west and at Elizabeth Hill Deeps.

During the Trading session on 11 November 2026, West Coast Silver Ltd (ASX:WCE) shares were trading at $0.055 by late morning, up 7.84%. The S&P/ASX 200 (ASX:XJO) was down about 0.06% at 9,123.90 at 12:19 pm over the same period. West Coast Silver is developing the Elizabeth Hill Silver Project, located south of Karratha in Western Australia. On 11 November 2026, the company announced an updated mineral resource estimate, on the same day as the trading move.

 

Resource Growth

The updated JORC 2012 resource stands at 3.36 million ounces of silver at 446 grams per tonne, in 234.7 kilotonnes, using a 20 grams per tonne cut-off on a 100% basis. Contained silver rose 20.3%, or 568,000 ounces, on the April 2026 estimate. Mineral resource tonnage increased 66.5% to 234.7 kilotonnes.

 

Confidence Level Improved

The company said 2.59 million ounces, or 77% of contained silver, is now in the indicated category, up from 369,000 ounces, or 13%, in April 2026. At a 60 grams per tonne sensitivity cut-off, the combined indicated and inferred resource is 74.7 kilotonnes at 1,333 grams per tonne, for 3.20 million ounces.

 

Lower Average Grade

The company said the inclusion of additional lower-grade material reduced the average silver grade by 27.7%, from 617 grams per tonne to 446 grams per tonne. West Coast Silver also said about 95% of reported silver is contained in the high-grade core.

 

Next Technical Work

The company said the growth reflects a revised geological interpretation and updated estimation incorporating 2026 drilling. Follow-up drilling to test extensions to the north-west of the mineralised system and at Elizabeth Hill Deeps has commenced. Targeted infill drilling, geotechnical, engineering, metallurgy and scoping-level studies are the next technical priorities.

 

Sector Context

Silver exploration and development companies are assessed on resource size, grade and confidence level, and the mix of indicated and inferred material in a resource can affect how it is viewed. Silver prices and the metallurgy of the ore influence project economics.

 

Key Risks

The average grade of the updated resource is lower than the April 2026 estimate, because of the inclusion of additional lower-grade material. Much of the resource’s silver is concentrated in the high-grade core, and extensions and deeps are still being tested. Scoping, metallurgy and engineering studies have yet to be completed, and funding will be needed to advance the project.

 

What to Watch Ahead

Investors will be watching the results of the follow-up drilling at the north-west extension and at Elizabeth Hill Deeps, the progress of infill drilling and the start of scoping-level studies. The company’s next Quarterly Report will show how these programs are progressing.

 

Final Word

West Coast Silver’s trading session on 11 November 2026 came as the company released an updated resource with higher confidence in its silver ounces. The next drilling and study results will show how the Elizabeth Hill project develops from here.