Best Junior Silver Stocks on the TSXV

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The silver price soared to US$29.14 per ounce during Q3 as investors looked to hedge against mounting risks with safe havens. The white metal’s appeal pushed silver exchange-traded funds higher, while concerns over weakening industrial demand didn’t dampen the metal.

Silver started the period at US$18.02 — the same value that it was at in January — and trended significantly higher through the quarter. By September 10, silver had surpassed US$29.

However, the precious metal‘s surge was unsustainable, and the metal fell back to the US$24.50 range.

The early August price rally added value to explorers and developers with silver projects. Many were able to raise capital and advance with activities during the quarter, despite challenges related to COVID-19.

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 October 8, 2020, from TradingView. All companies listed had market caps above C$10 million at that time.

1. Golden Tag Resources (TSXV:GOG)

Year-to-date gain: 226 percent; current share price: C$0.31

Junior silver explorer Golden Tag Resources owns the San Diego property in Mexico. San Diego is in the Velardeña mining district, where several past-producing silver, zinc, lead and gold mines are located.

Shares of the company began trending higher in mid-July, peaking at C$0.39 on September 14.

In early August, Golden Tag completed a previously announced private placement. The C$7 million oversubscribed placement was led by resource sector veteran investor Eric Sprott, who now owns an 18 percent stake in the firm.

Commenting on the investment and the company’s strong balance sheet, Greg McKenzie, president and CEO of Golden Tag, said, “We are pleased with the overwhelming support in this capital raise and are keen to move forward with the advancement of the company’s 100 percent owned San Diego Project, as well as other strategic opportunities.”

2. Metallic Minerals (TSXV:MMG)

Year-to-date gain: 180 percent, current share price: C$0.66 

Based in the Yukon, Metallic Minerals is focused on the acquisition and development of silver and gold projects. Currently the company’s primary target is the Keno silver project.

Metallic Minerals saw a sharp spike in its share price when it climbed to C$1.06, an all-time high.

During the third quarter, the explorer closed a C$8 million private placement with Canaccord Genuity. The initial financing was slated to be C$6 million and was increased in late July.

Proceeds will be used to further exploration efforts at Keno, and at the La Plata and McKay Hill projects.

3. Aurcana Silver (TSXV:AUN)

Year-to-date gain: 173 percent; current share price: C$0.81

US-based Aurcana Silver owns two production-permitted silver projects: the Revenue-Virginius mine in Colorado and the Shafter-Presidio project in Texas.

The junior silver stock also raised money this quarter. An initial C$10.5 million private placement was announced in mid-July, and was subsequently raised twice. On July 28, when the second and final tranche was closed, Aurcana had raised C$12.2 million.

Other company developments over the period include a name change on the TSXV. Aurcana added “silver” to its official moniker, highlighting its mineral focus.

4. Dolly Varden Silver (TSXV:DV)

Year-to-date gain: 136 percent; current share price: C$0.74

Dolly Varden Silver is an explorer focused on its namesake properties in British Columbia.

Like the other companies on the list, Dolly Varden attracted new capital during the third quarter. An investment of C$10 million was finalized in late August. The financing was also led by billionaire Sprott.

Shares of the company marked a five year high of C$1.08 a few days later.

Dolly Varden spent the rest of the quarter expanding its exploration and drilling program targeting high-grade silver mineralization.

5. Southern Silver Exploration (TSXV:SSV)

Year-to-date gain: 113 percent; current share price: C$0.57 

Rounding out the list is junior silver stock Southern Silver Exploration, an explorer and developer with several projects in North America. Presently, the company is engaged in the development of its Cerro Las Minitas silver, lead and zinc project in Mexico.

Q3 brought the most momentum so far this year for Southern Silver, with its share price peaking at C$0.68. The company also held several private placements totaling C$14.4 million.

The company was able to acquire 100 percent ownership of the Cerro Las Minitas project as well. Prior to the acquisition, Southern Silver had a 40 percent working interest in its flagship asset.

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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.