Which TSXV-listed junior silver stocks are the top performers so far this year? We’ve compiled a list to guide investors.
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The silver price rose 26 percent during Q2 as mine and project closures led to reduced output.
Although sister metal gold climbed 10 percent for the period and stole much of the shine, the white metal made steady gains following the market’s nosedive in March.
Ending the quarter at US$18.20 per ounce, the value of silver rose 44.5 percent from is March low of US$12.59. Despite the unprecedented challenges faced by the broader precious metals sector this year, silver is on course to continue gaining in the second half of 2020.
Higher silver prices have also benefited companies mining and exploring for the metal, as every uptick in price incentivizes their projects and adds to their inherent value.
In the first half of 2020, several silver companies enjoyed significant gains. Below, the Investing News Network has listed the best junior silver stocks on the TSXV by share price performance so far this year.
All year-to-date and share price information was obtained at close of day on July 14, 2020, from TradingView. All companies listed had market caps above C$10 million at that time.
1. Canasil Resources (TSXV:CLZ)
Year-to-date gain: 225 percent; current share price: C$0.18
Presently, Canasil is focused on its Nora silver-gold project in Durango, Mexico, where a drill program recently commenced. Testing at Nora was delayed when the Mexican government initiated a national lockdown barring all non-essential work until May 30.
Company shares hit a three month high of C$0.09 on June 2. In the weeks since then, Canasil’s share price has rocketed higher following the announcement of the drill program at Nora.
2. Dolly Varden Silver (TSXV:DV)
Year-to-date gain: 96.8 percent; current share price: C$0.61
Dolly Varden Silver is an explorer focused on its namesake properties in British Columbia.
Shares of the junior silver stock climbed 195 percent during Q2 as several positive developments were reported. Most significant was the news that veteran investor Eric Sprott was increasing his position in the exploration company with a C$2.3 million investment.
“With so many investment choices available, we are pleased that Eric Sprott will be taking a substantial position in Dolly Varden by increasing his strategic investment to 19.9 percent,” Shawn Khunkhun, CEO of Dolly Varden, said in a release at the time. “With Eric’s investment, we are in a very strong cash position of just under C$6 million that will allow the company to continue expanding its silver mineral resource with new high-grade silver discoveries on the property.”
The financing was completed on June 11. Later in the month, the firm released its 2020 drill plan, which includes a 10,000 meter diamond drill program.
3. Metallic Minerals (TSXV:MMG)
Year-to-date gain: 91.4 percent; current share price: C$0.43
Based in Canada’s Yukon, Metallic Minerals is an explorer focused on the acquisition and development of silver and gold projects. A May 27 press release highlights sampling and 3D modeling results from testing conducted at the firm’s Keno silver property.
“…Our objective, through the integration of surface sampling, mapping, modelling of drilling and geophysics, along with multi-spectral imagery, is to rapidly advance the most prospective targets to drill testing and the development of new mineral resources in this proven, brownfields district,” reads part of CEO Greg Johnson’s statement.
Metallic Minerals’ share price hit its Q2 high on June 23, when it was trading at C$0.43.
4. Aurcana (TSXV:AUN)
Year-to-date gain: 89 percent; current share price: C$0.51
Aurcana owns two production-permitted silver projects: the Revenue-Virginius mine in Colorado and the Shafter-Presidio project in Texas.
A mid-April private placement saw the company add C$2.5 million to fund its “corporate vision.” Shares of Aurcana hit a five month high of C$0.65 on May 25 and then retreated.
5. Silver Viper Minerals (TSXV:VIPR)
Year-to-date gain: 73.2 percent; current share price: C$0.48
Junior silver stock Silver Viper Minerals is engaged in precious metals exploration in Mexico. It was an eventful Q2 period for the company, which offered operational updates, opened and closed a C$5.1 million private placement and successfully listed on the OTCQB Venture Market.
After pausing operations for nine weeks, Silver Viper restarted exploration efforts at its La Virginia asset in early June. Its share price hit its quarterly high of C$0.43 shortly after it closed its private placement.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Silver Viper Minerals is a client of the Investing News Network. This article is not paid-for content.