Best Junior Silver Stocks of 2021 on the TSXV

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Silver has attracted renewed attention in 2021, coming into the new year on an upswing and surging to a seven year high of US$28.55 per ounce at the start of February. 

The positive performance countered gold’s muted showing, helping reduce the gold-silver ratio. As the white metal reached its year-to-date high, the ratio fell by seven points to reach 65.19.

Silver’s spike 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. WallStreetBets members have since distanced themselves from silver, but interest from retail investors remains.

By February 4, the excitement had waned, causing silver to shed 8.5 percent and hold at US$26.10.

A resurgence in industrial demand aided the metal’s return above US$28 in mid-February. Again the value was unsustainable and the price fell back to the US$26 range.

March saw the versatile metal’s close correlation to gold weigh on potential gains out of the industrial side. Silver had slid to a three month low by the end of month, landing at US$25.25.

There is a silver lining to the 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 at close of day on April 13, 2020, from TradingView. All companies listed had market caps above C$10 million at that time.

1. Bayhorse Silver (TSXV:BHS)

Year-to-date gain: 95.8 percent; current share price: C$0.22

Bayhorse Silver is advancing its namesake mine located in Oregon, US. During Q1, the company signed a definitive offtake agreement with Ocean Partners for silver-copper concentrate from the mine.

The deal will see Bayhorse deliver 300 metric tons of silver-copper concentrate. Ocean Partners will also retain the right of first refusal to a 12 month contract extension.

Bayhorse Silver CEO Graeme O’Neill described the agreement as the “lynch pin” of the company’s future. He also cited the closing of a C$2.1 million private placement in February as another catalyst.

2. Stuhini Exploration (TSXV:STU)

Year-to-date gain: 43.8 percent; current share price: C$0.69

Stuhini Exploration is currently surveying and sampling the Ruby Creek project in British Columbia.

In mid-March an airborne survey was completed at Ruby Creek. Subsequently, the precious metals explorer identified the Silver Surprise target. High-grade silver mineralization was discovered within that target zone in early April.

“The discovery of such high silver grades at surface and on trend with what could potentially be a continuation of the Adera Corridor is very exciting,” said Dave O’Brien, president and CEO.

3. Stroud Resources (TSXV:SDR)

Year-to-date gain: 47.2 percent; current share price: C$0.81

Stroud Resources is presently exploring and developing its Santo Domingo epithermal silver-gold project, situated in Central Mexico.

In early March, Stroud initiated a drill program at Santo Domingo consisting of 13 holes. The site is home to historic past-producing mining operations. Stroud intends to explore at more significant depths than have been examined in the past.

4. Honey Badger Silver (TSXV:TUF)

Year-to-date gain: 46.9 percent; current share price: C$0.12

Honey Badger Silver had a busy Q1 2021, acquiring new properties and engaging new investors.

In early February, the firm acquired three “top tier” silver projects Canada’s Yukon to add to its portfolio.

The explorer’s primary focus is the Thunder Bay silver project in Northern Ontario. Thunder Bay consists of 12 past-producing silver mines with combined historic production surpassing 1.67 million ounces

In addition to the purchase, Honey Badger also closed a C$3 million private placement. Canadian billionaire Eric Sprott contributed C$1 million and now owns 12 percent of the company.

5. Canuc Resources (TSXV:CDA)

Year-to-date gain: 42.2 percent; current share price: C$0.27

Diversified company Canuc Resources is engaged in advancing its San Javier silver-gold project in Mexico. Canuc also generates cash flow from natural gas production in Texas.

In late January, Canuc doubled its land position at San Javier by purchasing five additional claims. A drill program then commenced in early February.

March saw the explorer close a C$4.5 million private placement. Proceeds will be used to fund exploration efforts at San Javier.

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