Which TSXV-listed junior silver stocks are the top performers so far this year? We’ve compiled a list to guide investors.
Click here to read the previous best junior silver stocks article.
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.
The precious metal‘s surge was unsustainable, and in Q4 the metal has fallen back to the US$24.50 range. However, that’s still up from the US$18 level where it began the year.
The early August silver market rally added value to explorers and developers with silver projects. Many have since been able to raise capital and advance 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 on December 9, 2020, using TradingView’s stock screener. All junior silver stocks listed had market caps above C$10 million at that time.
1. Abraplata Resource (TSXV:ABRA)
Year-to-date gain: 525 percent, current share price: C$0.39
Focused on Argentina and Chile, Abraplata Resource is a silver, gold and copper exploration company. Its main asset is its Diablillos silver-gold project in Argentina, which has a resource base of 80.9 million ounces of silver and over 730,000 ounces of gold in the indicated category.
With a share price increase of over 500 percent, Abraplata takes the top spot on this list of the year’s top junior silver stocks. The company’s peak level came in mid-August, a couple of days before it began a 5,000 meter drill program at Diablillos. Other 2020 highlights include the closure of a number of private placements, the largest of which was for $18 million.
2. Silver Tiger Metals (TSXV:SLVR)
Year-to-date gain: 400 percent, current share price: C$0.38
Silver Tiger Metals holds the El Tigre project in the historic El Tigre mining district in the mineral-rich Mexican state of Sonora. El Tigre lies at the northern end of the Sierra Madre silver and gold belt, which hosts well-known epithermal silver and gold deposits such as Dolores, Santa Elena and Las Chispas.
El Tigre has a mineral resource estimate that includes an indicated resource of 661,000 gold equivalent ounces at 0.77 grams per tonne (g/t) (21 g/t silver and 0.51 g/t gold) and an inferred resource of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold).
Silver Tiger has honed its efforts on exploration at El Tigre this year. In November, it announced drill results, including an intercept of 2,049 g/t silver equivalent over 0.5 meters on the Protectora vein, and 1,121 g/t silver equivalent over 0.7 meters on the Caleigh vein.
The news helped send the company’s stock price up to its year high of C$0.70 cents. That price couldn’t hold for long, but is still up significantly from C$0.05 at the start of the year.
3. Golden Tag Resources (TSXV:GOG)
Year-to-date gain: 344.44 percent; current share price: C$0.41
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.
In early August, Golden Tag completed a previously announced private placement. The oversubscribed $7 million deal was led by veteran resource sector investor Eric Sprott, who now owns an 18 percent stake in the firm. Sprott has also participated in placements with Abraplata and Silver Tiger this year.
Commenting on the investment and the company’s strong balance sheet, Greg McKenzie, president and CEO of Golden Tag, said at the time, “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.”
The company announced the kickoff of an exploration program at its San Diego project in October. Shares of the company began trending higher in mid-July, peaking at C$0.49 on November 13.
4. Canuc Resources (TSXV:CDA)
Year-to-date gain: 322.22 percent, current share price: C$0.19
Canuc Resources’ main property is its Mexico-based San Javier silver-gold project. According to the company, it also has cash flow from natural gas production and from the development and licensing of Internet of Things applications.
San Javier has been central to Canuc’s activities in 2020, and the company recommenced work at the project midway through the year. Since then it has closed two private placements, one in August and one in December, and has updated investors on work at San Javier. Canuc’s highest share price this past year was C$0.25, which it reached in both September and November.
5. Monarca Minerals (TSXV:MMN)
Year-to-date gain: 275 percent, current share price: C$0.15
Monarca Minerals is exploring and developing silver and gold projects in Mexico. It has several assets in the country: San Jose, Tejamen and San Lucas. Tejamen has an inferred resource of 19.8 million tonnes at 45 g/t silver, which equates to 28.7 million ounces of contained silver.
2020 has brought peaks and troughs for Monarca, although its upward momentum started building in earnest midway through the year. It reached its highest point of C$0.23 in mid-October, although at the time the company said it was not aware of any material change that could have caused the increase. Among other activities this year, Monarca sold its El Sol project to Southern Silver Exploration (TSXV:SSV,OTCQB:SSVFF) and closed a C$3 million private placement.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.