Best Junior Silver Stocks on the TSXV

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Silver attracted renewed attention in the first half of 2021, surging to a seven year high of US$28.55 per ounce; however, the metal’s performance has been lackluster in the second act. 

Silver’s price spike in February was initially linked to the WallStreetBets Reddit forum. The group responsible for driving up GameStop’s (NYSE:GME) share price also targeted silver, drawing attention to the metal. While WallStreetBets has distanced itself from silver, retail interest was sparked elsewhere.

By the end of February, the excitement had waned, causing silver to slide to a three month low by the end of March, landing at US$25.25. In keeping with the volatile nature of this market, silver rebounded to the US$28 level in mid-May only to slide back to the US$26 level to close out the second quarter. As of late September, silver had failed to rally again, slipping even further to the US$22 level.

There is a silver lining to the white metal’s poor performance — according to the Silver Institute, industrial demand for the metal is anticipated to touch a four year high in 2021 of 510 million ounces. The increase would mark a 9 percent year-over-year rise. Total silver demand is also projected to see an upswing, totaling 1.025 billion ounces, a six year high.

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 data was obtained on September 27, 2021, from TradingView. All junior silver stocks listed had market caps above C$10 million at that time.

1. Nevada Silver (TSXV:NSC)

Year-to-date gain: 198.72 percent; current share price: C$0.27

US-based Nevada Silver wholly owns two advanced-stage exploration projects: the Corcoran silver-gold project in Nevada and the Emily manganese project in Minnesota. The company is new to the TSXV, and started trading on the exchange on May 7.

The Corcoran project is located 22 kilometers east of Kinross Gold’s (TSX:K, NYSE:KGC) Round Mountain gold mine in Nye County, Nevada. Nevada Silver initiated a drilling program on the project in early September, and provided an update later in the month.

2. Guanajuato Silver (TSXV:GSVR)

Year-to-date gain: 41.82 percent; current share price: C$0.39

Mexico-focused Guanajuato Silver is engaged in reactivating past-producing silver and gold mines near the city of Guanajuato. Its aim is to refurbish and restart production at its El Cubo mine and mill and nearby El Pinguico project; it also wants to delineate additional silver and gold resources.

Formerly known as Vangold Mining, Guanajuato Silver has had a busy year. The company completed a combined preliminary economic assessment for El Cubo and El Pinguico in February, and the next month signed a definitive purchase agreement for El Cubo. It reported drill results from El Pinguico in May and July, and started underground infill and expansion drilling at El Cubo in September; Guanajuato Silver also signed a silver and gold concentrate sales deal in September.

3. Vizsla Silver (TSXV:VZLA)

Year-to-date gain: 32.95 percent; current share price: C$2.30

Vizsla Silver’s flagship asset is its district-scale Panuco silver-gold project in Mexico’s Sinaloa province. The company has the option to acquire 100 percent of this newly consolidated 9,386.5 hectare district, which includes over 75 kilometers of total vein extent, a 500 tonne per day mill, 35 kilometers of underground mines, plus tailings facilities, roads, power and permits.

Vizsla has been active throughout the year, and its share price reached its highest point so far in 2021 on May 18, hitting C$2.84. A day later, the company shared drill results from 10 new holes at Panuco’s Tajitos vein. Shares reached their second highest point on September 14, clocking in at C$2.66 — the increase came as Vizsla shared the closing date for the spinout of Vizsla Copper; this new entity will house the company’s British Columbia copper assets.

4. Fabled Silver Gold (TSXV:FCO)

Year-to-date gain: 25 percent; current share price: C$0.13

Fabled Silver Gold is interested in acquiring Mexican precious metals properties with blue-sky potential. It has an agreement in place with Golden Minerals Company (TSX:AUMN,NYSEAMERICAN:AUMN) to acquire the high-grade silver-gold Santa Maria project, located in Mexico’s epithermal silver-gold belt.

Fabled has been actively drilling throughout 2021, with its share price peaking for the year at C$0.35 on February 8, several days after it reported results from the second diamond drill hole completed at Santa Maria. The company continues to share drilling news from Santa Maria, most recently on September 14, when it revealed results from surface diamond drilling done as part of an upgraded 14,200 meter drill program. A week later, Fabled announced an arrangement with its subsidiary, Fabled Copper, through which it will spin out its stake in the BC-based Muskwa copper project.

5. Canasil Resources (TSXV:CLZ)

Year-to-date gain: 18.18 percent; current share price: C$0.13

Canasil Resources has a portfolio of silver, gold, copper, zinc and lead assets in Mexico and BC. Its focus is on identifying large mineralized systems with the potential to host significant mineral deposits; the company prefers to look at recognized mineral trends that have good infrastructure and are near mines.

The company’s share price hit its highest level so far this year on June 3, reaching C$0.18. News from Canasil in 2021 has centered largely on its Mexico-based La Esperanza and Nora projects, where it has been completing drill work. Results were released from Nora throughout the summer, with the company most recently reporting outcomes from a core drill hole targeting the Candy vein structure; it intersected a 12.5 meter mineralized structure with high average gold and silver grades.

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

Editorial Disclosure: Fabled Silver Gold and Guanajuato Silver are clients of the Investing News Network. This article is not paid-for content.