
October 31, 2024
Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") is pleased to announce a PreliminaryFeasibility Study ("PFS") for its 100% owned, silver-gold El Tigre Project (the "Project" or "El Tigre") located in Sonora, Mexico. The PFS is focused on the conventional open pit mining economics of the Stockwork Mineralization Zone defined in the updated Mineral Resource Estimate ("MRE") (Figure 1). The updated MRE also contains an Out-of-Pit Mineral Resource that Silver Tiger plans to study in a Preliminary Economic Assessment in H1-2025.
Highlights of the PFS are as follows (all figures in US dollars unless otherwise stated):
- After-Tax net present value ("NPV") (using a discount rate of 5%) of US$222 million with an After-Tax IRR of 40.0% and Payback Period of 2.0 years (Base Case);
- 10-year mine life recovering a total of 43 million payable silver equivalent ounces ("AgEq") or 510 thousand payable gold equivalent ounces ("AuEq"), consisting of 9 million silver ounces and 408 thousand gold ounces;
- Total Project undiscounted after-tax cash flow of US$318 million;
- Initial capital costs of $86.8 million, which includes $9.3 million of contingency costs, over an expected 18-month build, expansion capital of $20.1 million in year 3 and sustaining capital costs of $6.2 million over the life of mine ("LOM");
- Average LOM operating cash costs of $973/oz AuEq, and all in sustaining costs ("AISC") of $1,214/oz AuEq or Average LOM operating cash costs of $12/oz AgEq, and all in sustaining costs ("AISC") of $14/oz AgEq;
- Average annual production of approximately 4.8 million AgEq oz or 56.7 thousand AuEq oz; and
- Three (3) years of production in the Proven category in the Phase 1 Starter Pit.
Glenn Jessome, President & CEO stated "We are very pleased with the work completed by our consultants and our technical team on the PFS for the open pit at El Tigre. The open pit delivers robust economics with an NPV of US$222 million, an initial capital expenditure of US$87 million, and a payback of 2 years with 3 years of production in the Proven category in the ‘Starter Pit using metal prices greatly discounted to the spot price." Mr. Jessome continued "This is a pivotal point for our Company as we now have a clear path forward to making a construction decision for the open pit. The open pit has good grade (48 g/t AgEq), low strip ratio (1.7:1), and wide benches (~150 m) with mineralization at surface. With such positive parameters and with our VP of Operations Francisco Albelais, a career expert in the construction of large heap leach mines in Mexico, we are confident we will be able to advance the Project very quickly." Mr. Jessome concluded "The open pit is only one component of El Tigre as we have also today delivered over 113 Mozs AgEq in the underground Mineral Resource Estimate and disclosed an Exploration Target establishing 10 to 12 million tonnes at 225 to 265 g/t AgEq for 73 to 100 Moz AgEq. This disclosed ‘near-mine' Mineral Resource and potential, when coupled with the fact that only 30% of this prolific Property has been explored, shows the value of the El Tigre Project. The Company will also continue to work on this substantial underground Mineral Resource by starting underground drilling immediately, and plan to release an underground PEA in H1-2025."
Highlights of the updated Mineral Resource
- Increased confidence in MRE, with increase of 132% in Total Measured & Indicated Silver Equivalent ("AgEq") Ounces from September 2023 MRE, with 59% increase in Measured & Indicated AgEq grade;
- Total Measured & Indicated Mineral Resource of 200 Moz AgEq grading 92 g/t AgEq contained in 68.0 million tonnes ("Mt");
- Inferred Mineral Resource of 84 Moz AgEq grading 180 g/t AgEq contained in 14.5 Mt; and
- Inclusion of Out-of-Pit Mineral Resource of 5.3 Mt Measured & Indicated Mineral Resource at grade of 255 g/t AgEq and 10.1 Mt Inferred Mineral Resource grading 216 g/t AgEq.
Preliminary Feasibility Summary
The PFS was prepared by independent consultants P&E Mining Consultants Inc. ("P&E"), with metallurgical test work completed by McClelland Laboratories, Inc. - Sparks, Nevada, process plant design and costing by D.E.N.M. Engineering Ltd., and environmental and permitting led by CIMA Mexico. Following are tables and figures showing key assumptions, results, and sensitivities.
Table 1: El Tigre PFS Key Economic Assumptions and Results
- Grades shown are LOM average process plant feed grades include only OP sources. Mining losses and external dilution of 3.7% were incorporated in the mining schedule.
- Column testing indicated both variable gold and silver recovery for the oxide material vs the previously reported non-discounted PEA (83% and 64%) at a 3/8-in crush size. In the process design and financial model for the PFS process design and financial model recoveries have been discounted by 3% for leaching in the field versus optimum conditions in the laboratory and shown accordingly. The presence of transition and sulfide zones has affected both the gold and silver recoveries and are shown as separate recoveries. These are reasonable and appropriate for use in this PFS design and economic analysis.
Figure 2: El Tigre Cash Flow Profile by Year
Figure 2 above highlights the post-tax cash flows of US$318 million associated with the El Tigre Project. The economics of the Project have been evaluated based on the base case scenario $26/oz silver price and gold price of $2,150/oz. As illustrated in the following sensitivity tables, the Project remains robust even at lower commodity prices or with higher costs (Tables 2 and 3).
Table 2 - El Tigre PFS Gold and Silver Price Sensitivities
Table 3 - El Tigre PFS Operating Cost and Capital Cost Sensitivities
Capital and Operating Costs
The El Tigre Project has been envisioned as an open pit mining operation starting at a processing rate of 7,500 tonnes per day for years 1-3 and then ramping up to 15,000 tonnes per day by year 4 after 1 year construction for ramp up in year 3.
The process plant is comprised of conventional three (3) stage crushing to an optimum -3/8 inch (10 mm) crush size. The crushed material will be conveyed and loaded on the lined pad areas. A series of pumping and piping will allow irrigation of the stacked heap material and subsequent production of pregnant solution to flow to the respective impoundment pond. The pregnant solution will be pumped to the recovery facility consisting of the Merrill - Crowe process (zinc precipitation) and refinery to produce the gold and silver dore for marketing. The process barren solution will be recycled (with NaCN addition) and pumped back to the heap for further leaching. The process plant location will be adjacent to the pad and pond infrastructure area.
Water supply to the process plant is provided by pumping from nearby Bavispe River to the process area water distribution system and high voltage grid power will be installed by the local utility to supply process and infrastructure electrical requirements. Expansion capital includes the cost to increase the process plant capacity from 7,500 tonnes per day to 15,000 tonnes per day as noted in Year 4 of operation.
Table 4 - LOM Capital Cost Estimate
Mining
Open pit mining will be contracted and carried out by drill and blast followed by conventional loading and truck haulage to the waste rock storage facilities and the process plant.
Metallurgy
A detailed metallurgical test program was carried out by McClelland Laboratories, Inc., Sparks, Nevada on six (6) El Tigre starter pit samples. The program included crushing, coarse bottle rolls, and column testing at both 80% passing 3/8 inch and 1/2 inch (10 and 12 mm) crush size for five (5) of the six samples. One low grade sample was only crushed to 80% passing 1-1/2 inch (38 mm) as an indication of low grade leachability. The leach samples comprised of drill core sample representing the starter pit and during the testing process it became apparent that the presence of transition and sulfide zones are in the starter pit thus affecting the base design recoveries. This variable test program (column and coarse bottle roll) estimated oxide average gold and silver respective metallurgical recoveries of 86% Au and 48% Ag at the 3/8 inch (10 mm) crush. The transition and sulfide zones had estimated recoveries of 59% Au and 43% Ag. Further percolation testing also confirmed no requirement for agglomeration of the crushed material is required prior to loading on the leach pad.
Mineral Resource Estimate
The basis for the PFS is the Mineral Resource Estimate completed by P&E for the El Tigre Project located in Sonora State, Mexico, which has an effective date of October 22, 2024, with an NI 43-101 Technical Report to be filed within 45 days of this news release. A summary of the Mineral Resource Estimate is provided in Table 5.
Table 5 - Updated Mineral Resource Estimate October 2024
- Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
- The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
- The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
- Historically mined areas were depleted from the Mineral Resource model.
- Prices used are US$2,000/oz Au, US$25/oz Ag, US$4.00/lb Cu, US$0.95 lb Pb and US$1.25/lb Zn.
- The pit-constrained AuEq respective oxide and sulfide cut-off grades of 0.10 and 0.15 g/t were derived from 40% Ag and 83% Au oxide process recovery, 40% Ag and 56% Au sulfide process recovery, US$5.25/tonne process and G&A cost. The constraining pit optimization parameters were $2.00/t mining cost and 45-degree pit slopes. Regarding recoveries, the PFS recovery for Ag in oxide material was increased to 45% after a more detailed study was complete after the MRE was finalized.
- The out-of-pit AuEq cut-off grade of 1.50 g/t was derived 93% Ag and 89% Au process recovery, US$28/tonne process and G&A cost, and a $60/tonne mining cost. The out-of-pit Mineral Resource grade blocks were quantified above the 1.50 g/t AuEq cut-off, below the constraining pit shell and within the constraining mineralized wireframes. Out-of-Pit Mineral Resources are restricted to the El Tigre Main Veins, which exhibit historical continuity and reasonable potential for extraction by cut and fill and long hole mining methods.
- The Low-Grade Stockpile AuEq cut-off grade of 0.54 g/t was derived from 85% Ag and 85% Au recovery US$28/tonne process and G&A cost, and a $2/tonne mining cost.
- The Tailings AuEq cut-off grade of 0.55 g/t was derived from 82% Ag and 83% Au process recovery, US$28.72/tonne process and G&A cost.
- AgEq and AuEq were calculated at an Ag/Au ratio of 166:1 (oxide) and 122:1 (sulfide) for pit-constrained Mineral Resources.
- AgEq and AuEq were calculated at an Ag/Au ratio of 77:1 for out-of-pit Mineral Resources.
- AgEq and AuEq were calculated at an Ag/Au ratio of 80:1 for Low-Grade Stockpile Mineral Resources.
- AgEq and AuEq were calculated at an Ag/Au ratio of 79:1 for Tailings Mineral Resources
- Totals may not sum due to rounding.
Mineral Resource Estimate Methodology - El Tigre Project
The El Tigre Project includes the El Tigre Veins, El Tigre Tailings and the El Tigre Low-Grade Stockpile.
The databases used for this Mineral Resource update contain a total of 20,149 collar records that contribute directly to the Mineral Resource Estimate and includes collar, survey, assay, lithology and bulk density data. Assay data includes Au g/t, Ag g/t, Cu %, Pb % and Zn % grades. The drilling extends approximately five km along strike.
P&E Mining Consultants Inc. ("P&E") collaborated with Silver Tiger personnel to develop the mineralization models, grade estimates, and reporting criteria for the Mineral Resources at El Tigre. Mineralized domains were initially developed by Silver Tiger and were reviewed and modified by P&E. A total of twenty-seven individual mineralized domains have been identified through drilling and surface sampling. Interpreted mineralization wireframes were developed by Silver Tiger geologists for the El Tigre Veins based on logged drill hole lithology, assay grades and historical records. Silver Tiger identified continuous zones of mineralization from assay grades equal to or greater than 0.30 g/t AuEq with observed continuity along strike and down-dip, using a calculated Ag:Au equivalent factor of 75:1. The selected intervals include lower grade material where necessary to maintain wireframe continuity between drill holes.
P&E developed mineralized domains for the El Tigre Low-Grade Stockpile and the El Tigre Tailings based on lithological logging and LiDAR surface topography.
Assay samples were composited to either 1.00 m or 1.50 m for the vein domains. No compositing was used for the Low-Grade Stockpiles and Tailings models. Composites were capped prior to grade estimation based on the analysis of individual composite log-probability distributions.
A total of 5,542 bulk density values were taken by Silver Tiger from drill hole core. Mineralized bulk density values were assigned for each of the El Tigre Main Veins based on the median vein measurement. For the El Tigre North Veins, a bulk density of 2.65 t/m 3 was assigned for the veins and a value of 2.42 t/m 3 was assigned for the Protectora Halo. For the Low-Grade Stockpile a value of 1.60 t/m 3 was assigned, and for the Tailings a value of 1.39 t/m 3 was used based on 37 nuclear density measurements.
Vein block grades for gold and silver were estimated by Inverse Distance Cubed ("ID3") interpolation of capped composites using a minimum of four and a maximum of twelve composites. Vein block grades for copper, lead and zinc were estimated by Inverse Distance Squared ("ID2") interpolation of capped composites using a minimum of four and a maximum of twelve composites.
Nearest-Neighbour grade interpolation was used for the Low-Grade Stockpiles, and for the Tailings, block grades were estimated by ID2 estimation of capped assays using a minimum of four and a maximum of twelve samples.
For the El Tigre Main Veins, blocks within 30 m of three or more drill holes/channels were classified as Measured Mineral Resources, and blocks within 60 m of three or more drill holes/channels were classified as Indicated Mineral Resources. All additional estimated blocks were classified as Inferred Mineral Resources.
For the North Veins, blocks interpolated by at least two drill holes within 50 m were classified as Indicated Mineral Resources. Blocks interpolated by at least one drill hole within a maximum distance of 200 m were classified as Inferred Mineral Resources.
For the Low-Grade Stockpiles, blocks within 15 m of two or more drill holes were classified as Indicated Mineral Resources. All additional estimated blocks were classified as Inferred Mineral Resources.
For the Tailings, blocks within 30 m of three or more auger or core drill holes were classified as Measured Mineral Resources. Blocks within 60 m of two or more auger/drill holes/pits or trenches were classified as Indicated Mineral Resources. All additional estimated blocks were classified as Inferred Mineral Resources.
P&E considers that the block model Mineral Resource Estimates and Mineral Resource classification represent a reasonable estimation of the global mineral resources for the El Tigre Project with regard to compliance with generally accepted industry standards and guidelines, the methodology used for estimation, the classification criteria used and the actual implementation of the methodology in terms of Mineral Resource estimation and reporting. The Mineral Resources have been estimated in conformity with the requirements of the CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines as required by the Canadian Securities Administrators' National Instrument 43-101. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Table 6: AuEq Cut-off Sensitivities - ET Pit-Constrained Mineral Resource
Table 7: AuEq Cut-off Sensitivities - ET Out-of-Pit Mineral Resource
Exploration Potential
Exploration potential at the El Tigre Project is substantial with prospective areas for exploration both down dip and along strike with the disclosed Exploration Target establishing 10 to 12 million tonnes at 225 to 265 g/t AgEq for 73 to 100 Moz AgEq.
Figure 3-Exploration Potential released October 2024
Surface Rights Agreement
The Company owns royalty-free, 100% of the 6,238 hectares land-package encompassing the footprint of proposed mining operation with no Ejido presence. In addition, the Company controls 28,414 hectares of Concessions to conduct exploration along a 25 km strike length of the Sierra Madres.
Underground Preliminary Economic Assessment
The Company will also continue to work on this substantial, permitted underground Mineral Resource Estimate and advance this towards a Preliminary Economic Assessment by H1-2025. The Measured and Indicated Out-of-Pit Mineral Resource at El Tigre is 44 Moz AgEq grading 255 g/t AgEq contained in 5.3 Mt and the Inferred Mineral Resource is 70 Moz AgEq grading 216 g/t AgEq contained in 10.1 Mt.
Qualified Persons
Mineral Resource Estimate: Dave Duncan P. Geo. VP Exploration of Silver Tiger, Charles Spath P.Geo., VP of Technical Services of Silver Tiger, and Fred Brown, P.Geo RM-SME Senior Associate Geologist of P&E Mining Consultants, and Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants are the Qualified Persons as defined under National Instrument 43-101. All Qualified Persons have reviewed and approved the scientific and technical information in this press release.
Preliminary Feasibility Study: Andrew Bradfield P. Eng of P&E Mining Consultants, Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants and David J. Salari, P. Eng. of D.E.N.M. Engineering Ltd are the Qualified Persons as defined under National Instrument 43-101. All Qualified Persons have reviewed and approved the scientific and technical information in this press release.
A Technical Report is being prepared on the Preliminary Feasibility Study in accordance with National Instrument 43-101 ("NI-43-101"), and will be available on the Company's website and SEDAR within 45 days of the date of this news release. The effective date of this Preliminary Feasibility Study is October 22, 2024.
VRIFY Slide Deck and 3D Presentation - Silver Tiger's El Tigre Project
VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.
Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com
The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at: https://vrify.com/explore/decks/492 and on the Corporation's website at: www.silvertigermetals.com.
About Silver Tiger and the El Tigre Historic Mine District
Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years' experience discovering, financing and building large epithermal silver projects in Mexico. Silver Tiger's 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.
The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the middle El Tigre Vein extended 1,450 metres along strike and was mined on 14 levels to a depth of approximately 450 metres. The Seitz Kelley Vein was mined along strike for 1 kilometre to a depth of approximately 200 metres. The Sooy Vein was only mined along strike for 250 metres to a depth of approximately 150 metres. Mining abruptly stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period was over 2 kilograms silver equivalent per ton.
For further information, please contact:
Glenn Jessome
President and CEO
902 492 0298
jessome@silvertigermetals.com
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, Mineral Resources and Reserves, the ability to convert Inferred Mineral Resources to Indicated Mineral Resources, the ability to complete future drilling programs and infill sampling, the ability to extend Mineral Resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Silver Tiger's expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with securities regulators.
SLVR:CC
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26 June
Rapid Successfully Undertakes $10.5M Capital Raising to Fund Acquisition of the Webbs and Conrads NSW Silver Projects
Rapid Critical Metals Limited (‘Rapid,’ ‘RCM’ or ‘Company’) is pleased to announce that the Company has received firm commitments from institutional, sophisticated and professional investors for the placement of 437,500,000New Fully Paid Ordinary Shares (New Shares) at an issue price of A$0.024 per new share (post 12-for-1 consolidation) to raise gross proceeds of A$10.5 million (Placement). The Placement comprises two tranches:
- Tranche 1 to raise A$10 million via the issue of approximately 416,666,667¹ million New Shares subject to the approval of shareholders (resolution 1) at the Extraordinary General Meeting scheduled for 7 July 2025 (EGM); and
- Tranche 2 to raise A$0.5 million via the issue of 20,833,334 million New Shares subject to shareholder approval to be sought at an EGM of the Company expected to be held in August 2025 for participation of a current major shareholder Strata Investment Holdings.
Highlights
- A$10.5m secured through a Placement, following receipt of firm commitments at an issue price of A$0.024 per share (post 12-for-1 consolidation).
- Strong support was received from existing & new institutional, sophisticated and professional investors.
- Existing major shareholder and board member Strata Investment holdings has participated with taking $500k of the placement to be voted on in an expected EGM in August.
- Proceeds from the Placement, together with existing cash, will be used to fund the acquisition of 100% of the Conrad and Webbs Silver Projects in the New England Fold Belt of NSW and to unlock the potential of the Projects rapidly. Rapid will rapidly implement programs at Webbs Silver Project with a focus to expand and upgrade the existing JORC Mineral Resource Estimate1 with targeted geophysics, drilling and metallurgical studies beginning in June 2025.
Proceeds from the Placement, together with existing cash, will be used to fund the acquisition ofthe Conrad and Webbs Silver Projects, currently owned by Silver Metal Group Limited (SMG) (for full details of the transaction refer ASX announcement of 22 May, 2025). Following completion of the acquisition, Rapid will own 100% of the Conrad and Webbs Silver Projects in the New England Fold Belt of NSW.
The opportunity exists to unlock the potential of the Projects rapidly, as neither have had any modern exploration or drilling done in the last decade. Exploration for new, parallel and blind structures can deliver new silver discoveries in the district.
Rapid will rapidly implement programs at Webbs Silver Project with a focus to expand and upgrade the existing JORC Mineral Resource Estimate with targeted geophysics, drilling and metallurgical studies beginning in June 2025.
Commenting on the success and level of interest in the Placement, Martin Holland, Rapid’s Managing Director, said:
“The Rapid team is pleased to have secured the funds which will be strategically used for the acquisition of the SMG silver projects in NSW. I would like to thank all existing and new shareholders who participated in the Placement for supporting the Board’s strategy.”
The Placement was strongly supported by new and existing shareholders, including Strata Investment Holdings Plc (Strata), the Company’s largest shareholder, whose participation is subject to shareholder approval to be sought at an EGM to be held in late August.
The Placement was conducted at a price of A$0.024 per New Share, which represents a:
- 0.00% discount to the last close price of A$0.002 on 23 June, 2025; and
- 0.00% discount to the 5-day Volume Weighted Average Price of A$.002 (pre consolidation)
All New Shares issued under the Placement will rank pari passu with the existing ordinary shares on issue in the capital of the Company.
Click here for the full ASX Release
This article includes content from Rapid Critical Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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25 June
Hawthorn Announces Closing of C$4 Million Subscription Receipt Financing
Hawthorn Resources Corp. (CSE: HWTN) ("Hawthorn" or the "Company") is pleased to announce that it has closed its previously announced subscription receipt (the "Subscription Receipts") offering (the "Offering").
Under the Offering, the Company issued an aggregate of 14,807,315 Subscription Receipts at a price of $0.27 per Subscription Receipt for aggregate proceeds of $3,997,975.05 (the "Subscription Proceeds").
Each Subscription Receipt, upon the satisfaction of certain conditions (the "Escrow Release Conditions") related to the Company's previously announced proposed acquisition of Stampede Metals Corporation (the "Acquisition") on or before the escrow release deadline of July 31, 2025 or such later date as the escrow agent and the Company agree (the "Escrow Release Deadline"), will be automatically converted, without payment of any additional consideration and without any further action on the part of the holder thereof, into a unit (a "Unit"), comprised of one post 1:0.75 consolidation (the "Consolidation") common share of the Company and one-half of one share purchase warrant. Each whole warrant will be exercisable to acquire a post-Consolidation common share at a price of $0.40 per share until December 23, 2026, subject to acceleration in the event that the post-Consolidated common shares of the Company trade at or above $0.60 for ten consecutive trading days. If the Escrow Release Conditions are not met by the Escrow Release Deadline, the aggregate Subscription Proceeds will be returned to subscribers without deduction.
President Ralph Shearing, P.Geol. of Hawthorn Resources, commented: "With nearly $4 million in financing received, upon completion of our acquisition of the Prince Silver Project, Hawthorn is fully funded to execute on our 2025 exploration priorities. We're excited to advance the Prince Silver Project — a near-surface CRD deposit with historic production, strong silver-gold-zinc-manganese mineralization identified in over 129 historic drill holes with excellent exploration expansion potential.
In connection with the Offering, upon conversion of the Subscription Receipts into the underlying Units, the Company will pay finders fees of $98,309.98 to eligible registrants assisting in the Offering and issue an aggregate of 420,111 broker warrants (each, a "Broker Warrant"), with each Broker Warrant entitling the holder to acquire one post-Consolidated common share of the Company at a price of $0.40 per share for until December 23, 2026.
All securities issued under Acquisition and in the Offering will have a hold period of four months and one day pursuant to applicable securities laws and CSE policy. In accordance with CSE policies, the Company has obtained written shareholder approval for the issuance of the aggregate post-Consolidated common shares to be issued pursuant to the Acquisition and the Offering.
Completion of the proposed Acquisition is subject to a number of conditions, including, but not limited to, completion of the concurrent financing, satisfaction by the parties of all applicable filing requirements pursuant to the policies of the Canadian Securities Exchange (the "CSE"), and acceptance and receipt of all applicable regulatory, corporate and shareholder approvals.
About Hawthorn Resources Corp.
Hawthorn is a silver exploration company focused on advancing the Prince Silver Project in Nevada, USA. Mineralization is open in all directions and is near surface. Hawthorn also holds option interest in Broken Handle Project, an early-stage mineral exploration project located southern British Columbia, Canada.
For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca).
On Behalf of the Board of Directors,
Ralph Shearing, Director, President
Tel: 604-764-0965
Email: info@hawthornresources.ca
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: completion of the Acquisition and related transactions, completion of the Initial Private Placement, appointments of directors and officers of the Company and regulatory and corporate approvals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, and compliance with property option agreements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, failure to obtain regulatory or corporate approvals, exploration results, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.
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20 June
Editor's Picks: Silver Price Hits 13 Year High, Gold Takes a Breather
Gold was on the decline this week, closing just below US$3,370 per ounce, after tensions in the Middle East pushed it past the US$3,430 level toward the end of last week.
All eyes were on the US Federal Reserve, which in a widely expected move left interest rates unchanged on Wednesday (June 18) following its two day meeting. The central bank cut rates in December 2024, but has kept them steady for its last four gatherings.
US President Donald Trump wasn't pleased, calling Powell "too late" in a Thursday (June 19) post on Truth Social. While speculation that Trump will fire Powell has died down, the president did recently say he intends to announce his next pick for the Fed leader position "very soon."
Of course, Fed meetings are never just about rate decisions — experts often look to Powell's post-meeting commentary to read between the lines of what's said (and not said).
Tariffs were definitely in focus this time around, with Powell emphasizing that it's still soon to tell how much of an impact they will have and how the Fed should react.
"We have to learn more about tariffs. I don’t know what the right way for us to react will be. I think it’s hard to know with any confidence how we should react until we see the size of the effects" — Jerome Powell, US Federal Reserve
Chris Temple of the National Investor, who offered another perspective on Powell's comments.
He noted that while Powell didn't say the Fed is going to abandon its 2 percent inflation target, it may be leaning in that direction. This is what he said:
The consensus still — although it was extremely close — is barely still for two 25 basis point rate cuts in the balance of 2025. Whether we get them or not, who knows, (but) that's the current snapshot, which may well change. But that's against a backdrop of admitting for the second SEP, summary of economic projections ... in a row that inflation is going to continue to move back higher — that we've seen the best numbers for inflation — at the same time that GDP slows a bit.
So okay, you just told us that your favored inflation number, which is a lot of smoke and mirrors to begin with, is going to go back up to north of 3 percent, which is what they said yesterday. And yet you still — the consensus is you're going to lower interest rates twice in 2025? So he did everything but come right out and admit that the 2 percent inflation target isn't going to be reached.
Stay tuned to our YouTube channel for the full interview with Temple.
Bullet briefing — Silver hits 13 year high, SPUT raising US$200 million
Is silver's price rise real?
Gold has stolen the precious metals spotlight in 2025, but this month silver is shining.
The white metal has been on the rise since the beginning of June, and this week it broke the US$37 per ounce mark for the first time in 13 years.
While silver is known to lag behind gold before playing catch up, it's also known for its volatility. Its move has created excitement, but market participants are also wary of a correction.
When asked what factors are driving silver, Peter Krauth of Silver Stock Investor he said he sees a "perfect storm" emerging. Here's how he explained it:
You've got the macroeconomic picture that is I think certainly bullish for silver, like it is for gold and a lot of the other commodities. But I think at the same time you've got the market kind of coming to terms with the fact that silver is in a deficit, (and) it's unlikely to be able to rectify that deficit for several years — in fact, the Silver Institute thinks we're going to see record deficits at some point over the next five years.
And silver supply is unable to grow. We saw a peak 10 years ago in mined silver, and overall silver supply is essentially flat.
So flat supply, growing demand — demand that's nearly 20 percent above supply — and our ability to meet those deficits is shrinking because we're tapping into these aboveground stockpiles that have shrunk by about 800 million ounces in the last four years, which is the equivalent of an entire year's mine supply. So it's the perfect storm, it's really all coming together. And I think that the market's realizing that.
But does that necessarily mean silver is ready for a big breakout? Krauth has a target of US$40 by the end of 2025, but said silver could potentially go 10 percent above that.
For his part, Jeffrey Christian of CPM Group attributes the silver price boost to increased demand from investors, especially when it comes to exchange-traded funds and wholesale products.
He's projecting a bumpier path forward for the metal:
You also have — the last time I looked it was like 490 million ounces of open interest in the July Comex futures contract. And that's two weeks from first delivery. So most of the people (who) have those shorts - those are hedges of their physical inventories. They keep those hedges in place, but they roll them forward. So they'll be buying back their Julys and selling September futures to keep that hedge in place with the next active futures contract. That buying back of the Julys could push silver prices higher.
So if you really want to talk granular prices, we wouldn't be surprised to see the price of silver fall to US$33, US$34 an ounce, and go up to US$40 an ounce and then back to US$33 an ounce over the next four weeks.
Click the links above to watch the interviews with Krauth and Christian.
SPUT raising US$200 million
The uranium spot price made moves this week after the Sprott Physical Uranium Trust (TSX:U.U,OTCQX:SRUUF) announced a US$100 million bought-deal financing on Monday (June 16).
It was bumped up to US$200 million the same day due to strong demand.
Spot uranium has been in a consolidation phase since hitting triple-digit levels in early 2024, creating frustration among those who are waiting for the industry's strong long-term fundamentals to be better expressed. This week's move past US$75 per pound has helped reinvigorate investors.
Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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18 June
Hawthorn Resources Announces Fully Subscribed Private Placement and Planned Name Change to Prince Silver Corp.
Hawthorn Resources Corp. (CSE: HWTN) (OTC Pink: HAWWF) ("Hawthorn" or the "Company") is pleased to announce that, in connection with the recently executed agreement for the acquisition of Stampede Metals Corporation (the "Stampede Acquisition") owner of the Nevada located Prince Silver Project and Stampede Gap Project and previously announced consolidation (the "Consolidation"), the Company will change its name to Prince Silver Corp. (the "Name Change").
The Name Change and Consolidation are expected to take effect within the coming weeks. Upon completion, prior to giving effect to the Stampede Acquisition, the Company will have approximately 16,054,125 shares outstanding and will begin trading under its new name with a new CSE ticker symbol to be disclosed upon acceptance by the CSE.
"Rebranding as Prince Silver Corp. marks a transformative step as we align our corporate identity with the Prince Silver Project, a large-scale silver asset located in one of the world's premier mining jurisdictions," stated Ralph Shearing, P.Geo., President of the Company. "With an impressive previously disclosed Exploration Target and silver prices reaching multi-year highs, we believe this is a great opportunity to unlock significant value for our shareholders."
Fully Subscribed Private Placement
Hawthorn is pleased to report that the private placement of subscription receipts as previously disclosed has been fully subscribed to approximately $4 million (rounded), the maximum raise agreed to within the Stampede Acquisition Agreement. Closing of the private placement subscription receipts is expected to occur within the coming days.
Majority Shareholder Consent Obtained
The Company has obtained shareholder consent letters from shareholders representing over 55% of the issued and outstanding shares of Hawthorn approving the Stampede Acquisition transaction.
Corporate Strategy
The Company's corporate focus is centered on advancing the Prince Silver Project in Nevada, guided by the following strategic pillars:
- District-Scale Silver Focus: Advancing a large-scale silver asset in the heart of Nevada, one of the world's most mining-friendly jurisdictions.
- Significant Exploration Target: With mineralization that is near-surface and open in all directions. (see press release dated June 9, 2025, for further information on the Exploration Target)
- Drill-Driven Growth: Active exploration to expand higher-grade zones, confirm historic drilling results and define the scale of the Prince Silver Project mineralized system. A reverse circulation drill program is expected to be initiated on the Prince Silver Project, late July 2025.
- Strategic Partnerships: Actively seeking a joint venture or option partner to explore and develop the Stampede Gap Porphyry Copper-Gold Project, which has been identified as a large-scale Cu-Au system and the BC located greenfield Broken Handle exploration project.
The Company will provide further updates on exploration plans and key milestones in the coming weeks.
About Hawthorn Resources
Hawthorn is a silver exploration company focused on advancing the Prince Silver Project in Nevada, USA. Mineralization is open in all directions and is near surface. Hawthorn also holds option interest in Broken Handle Project, an early-stage mineral exploration project located southern British Columbia, Canada.
On Behalf of the Board of Directors
Ralph Shearing, Director, President
Tel: 604-764-0965
Email: info@hawthornresources.ca
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: completion of the Acquisition and related transactions, completion of the proposed financing, proposed drill programs, amendments to the Company's website, property option payments and regulatory and corporate approvals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, completion of satisfactory due diligence in respect of the Acquisition and related transactions, and compliance with property option agreements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, failure to obtain regulatory or corporate approvals, exploration results, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.
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18 June
10 Silver ETFs for Every Investing Style in 2025
Investors looking for exposure to the silver price and silver-mining companies should consider silver exchange-traded funds (ETFs).
Spurred by moves in the gold market, safe-haven buying as well as increasing demand from industrial sectors, silver saw strong price movements in the first half of 2025, breaching US$37 per ounce for the first time since 2011.
While silver has often been seen as a more approachable precious metal owing to its lower per ounce price, its performance has lagged gains seen in the gold price over the past few years. However, silver stole some of the spotlight in the second quarter of 2025 as it saw significant gains on the back of geopolitical tension and economic uncertainty from the US trade and tariff policy.
Like gold, investors can gain exposure to silver in several ways that each offer their own pros and cons, along with differing costs and risks. For example, investors can purchase physical silver bars or coins, or invest in silver futures.
Another way for investors to diversify their portfolio with silver is to invest ETFs. These products work similarly to mutual funds in that they pool investor resources into an asset. However, as their name suggests, ETFs are traded on exchanges like stocks, making them more accessible to investors.
While ETFs aren’t without risk, they can offer a more stable investment compared to individual stocks thanks to their diversification and the fact that they are often managed and rebalanced.
Silver ETFs come in several forms, such as ones that hold physical silver and ones that hold silver mining, royalty and exploration stocks. Investors looking to start trading silver ETFs should be aware of the options available to them to determine which silver ETF will best suit their precious metals investing needs and risk tolerance.
Here's a brief look at 10 of the top silver ETFs by total assets. The first five ETFs offer exposure to the price of silver, while the last five provide exposure to silver-mining stocks.
Assets and prices for these silver ETFs were collected on June 17, using data from the funds' web pages, and performance data is accurate for the end of Q1 2025.
5 ETFs for exposure to the silver price
1. iShares Silver Trust (ARCA:SLV)
Total assets: US$17.21 billion
Unit price: US$33.06
The iShares Silver Trust provides investors with access to the silver price performance, using the London Bullion Market Association silver price as its benchmark.
As the iShares Silver Trust’s web page warns, it is not an investment company registered under the Investment Company Act of 1940, or a commodity pool under the Commodity Exchange Act. Because of this, it is not subject to the regulatory requirements that apply to mutual funds or ETFs.
This trust holds 471 million ounces silver bullion and has a five year average annual total return of 18.99 percent.
2. Sprott Physical Silver Trust (ARCA:PSLV,TSX:PSLV)
Total assets: US$7.12 billion
Unit price: US$12.84
The The Sprott Physical Silver Trust is an option for investors looking for the security of physical silver without the need to find secure storage.
The ETF is backed by 191.12 million ounces of silver held in trust in fully allocated London Good Delivery silver bars. Additionally, the ETF is fully convertible into physical silver, should investors decide they want the precious metal on hand. However, the fund states that holders "must have enough units to equate to ten 1000 oz silver bars."
The average annual five-year return based on net asset value for the Sprott Physical Silver Trust is 11.67 percent.
3. Aberdeen Standard Physical Silver Shares ETF (ARCA:SIVR)
Total assets: US$1.92 billion
Unit price: US$34.68
The Aberdeen Standard Physical Silver Shares ETF's investment objective is for its shares to reflect the performance of the silver price less the expenses of the trust's operations. It has an expense ratio of 0.3 percent.
This ETF comes with the same warnings as the iShares Silver Trust.
The fund is backed with 45.51 million ounces of silver held with JPMorgan Chase Bank in London in a secured vault. Its five year average annual return comes in at 13.12 percent based on net asset value.
4. ProShares Ultra Silver ETF (ARCA:AGQ)
Total assets: US$717.99 million
Unit price: US$48.69
Set up in December 2008 by ProShares, the ProShares Ultra Silver ETF was designed to offer daily investment results that correspond with twice the daily performance of the Bloomberg Silver Subindex. Because of this, the ETF is aimed at investors who are bullish on silver and able to monitor their investments on a daily basis.
The fund uses derivatives such as futures contracts to invest in silver and has an expense ratio of 0.95 percent.
While designed for short-term investment, the ETF's average annual five year return based on net asset value stands at 19.98 percent. Investors looking for a more accurate picture of its day-to-day performance can find a chart on the fund's page.
5. ProShares UltraShort Silver ETF (ARCA:ZSL)
Total assets: US$32.87 million
Unit price: US$25.30
Alongside the creation of the ProShares Ultra Silver ETF in late 2008, ProShares launched its ProShares UltraShort Silver ETF. This fund was designed to provide investors with a hedge against declines in the silver market.
It also has an expense ratio of 0.95 percent.
Because the fund is built around providing results at a negative two times daily performance of the Bloomberg Silver Subindex, it is meant for traders who have a high capacity for risk and who are willing to monitor their positions on a daily basis. The fund should be treated in the same way as the Ultra Silver ETF.
This high-volatility fund has an average annual total return of -44.93 percent based on net asset value over the previous five year period. However, as the fund is only meant to be held for very short intervals, this metric is less useful than for other funds. A more accurate picture of its day-to-day performance can be found on the fund's page.
5 ETFs for exposure to silver-mining stocks
1. Global X Silver Miners ETF (ARCA:SIL)
Total assets: US$1.97 billion
Unit price: US$48.66
The Global X Silver Miners ETF gives investors access to a basket of silver-mining and royalty stocks. The ETF benefits from the fact that these companies can climb when the silver price is rising. It also allows investors to avoid the risks associated with individual companies and lets them add geographical diversity to their portfolios.
This ETF has an expense ratio of 0.65 percent, and its top holdings include streaming company Wheaton Precious Metals (TSX:WPM,NYSE:WPM) at a weight of 21.22 percent, Pan American Silver (TSX:PAAS,NYSE:PAAS) at a weight of 12.98 percent and OR Royalties (TSX:OR,NYSE:OR) at 6.1 percent.
The five year average annualized total return for the fund is 11.75 percent.
2. Amplify Junior Silver ETF (ARCA:SILJ)
Total assets: US$1.42 billion
Unit price: US$14.97
The Amplify Prime Junior Silver ETF bills itself as the "first and only ETF to target small cap silver miners." The index provides a benchmark for investors to track public small-cap companies in the silver space.
The ETF has an expense ratio of 0.69 percent and its holdings span Canada, the US and the UK, with key silver companies such as Coeur Mining (NYSE:CDE) at 13.22 percent, First Majestic Silver (TSX:AG,NYSE:AG) at a weight of 10.61 percent and Hecla Mining Company (NYSE:HL) at 8.34 percent.
Over the last five years, the fund's average annualized total return based on net asset value is 3.99 percent.
3. iShares MSCI Global Silver and Metals Miners ETF (BATS:SLVP)
Total assets: US$314.25 million
Unit price: US$17.96
The iShares MSCI Global Silver and Metals Miners ETF tracks an index composed of global equities of companies primarily engaged in silver exploration or metals mining.
The ETF has the lowest expense ratio of the three ETFs focused on silver stocks at 0.39 percent.
The large majority of companies in its holdings, about 69 percent, are traded on Canadian exchanges, and companies on US and Mexican exchanges combine for 27 percent.
The top three holdings for the iShares MSCI Global Silver Miners ETF are Pan American Silver at a weight of 22.98 percent, Industrias Peñoles (BMV:PE&OLES) with a weight of 12.6 percent and Hecla Mining at 8.74 percent.
The fund's total return over the last five year period is 16.2 percent.
4. Sprott Silver Miners & Physical Silver ETF (NASDAQ:SLVR)
Total assets: US$99.9 million
Unit price: US$30.83
Unlike the other silver-mining ETFs on the list, the Sprott Silver Miners & Physical Silver Fund includes a combination of physical silver holdings as well as equities. The fund launched in January 2025, making it one of the newest entries to the list. Its management fee is 0.65 percent.
This ETF's top holding is its counterpart Sprott Physical Silver Trust, which provides investors exposure to physical silver, at a 15.26 percent weight. Its next-largest holdings are MAG Silver (TSX:MAG,NYSEAMERICAN:MAG) at 13.64 percent and Aya Gold & Silver (TSX:AYA,OTCQX:AYASF) at 7.61 percent.
Since its inception in January 2025, the fund has a total return of 24.98 percent.
5. Sprott Active Gold and Silver Miners ETF (NASDAQ:GBUG)
Established in February 2025, the Sprott Active Gold and Silver Miners ETF is designed to provide investors broad access to both gold and silver equities. Additionally, as an active fund, it will see more frequent rebalancing to increase the potential of better returns for investors. Its management fee is 0.89 percent.
The fund's top holdings consist of Coeur Mining weighted at 5.13 percent, OR Royalties at 5 percent and Torex Gold Resources (TSX:TXG,OTCQX:TORXF) a at 4.82 percent.
Since its inception in February, the fund has seen a total return of 27.13 percent.
This is an updated version of an article originally published by the Investing News Network in 2014.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold an investment in Sprott Active Gold and Silver Miners ETF.
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17 June
Silver Price Surges to US$37, Highest Value Since May 2011
After being overshadowed by gold early in the year, silver has been in the spotlight in recent weeks.
The white metal broke through the US$37 per ounce mark on Tuesday (June 17) for the first time since May 2011.
Recent economic and geopolitical events have raised analysts’ expectations of a September rate cut from the US Federal Reserve, helping to fuel safe-haven buying of silver and gold.
The central bank has held its benchmark rate at 4.25 to 4.5 percent since November 2024.
Silver price, June 10 to June 17, 2025.
Chart via the Investing News Network.
CME Group's (NASDAQ:CME) FedWatch tool shows more than half of market respondents predict a 0.25 percent cut at the Fed's September meeting, while just 8 percent are expecting the Fed to make a deeper 0.5 percent cut.
The central bank is widely expected to leave rates unchanged at its June and July meetings.
Silver's price surge also comes amid escalating tensions between Israel and Iran. The two countries have come closer to war in recent days, with Israel striking nuclear and military targets deep in Iran.
On Monday (June 16), US President Trump took to Truth Social to urge a complete evacuation of Tehran ahead of planned strikes on targets in the city. He also urged Iran to abandon its nuclear ambitions.
On the economic front, the US Bureau of Labor Statistics released its May consumer price index figures on June 11. The data shows inflationary growth, with the all-items index ticking up to 2.4 percent from 2.3 percent in June.
Growth was tempered mainly by falling prices at the pumps. Additionally, retail prices have yet to feel the full impact of US tariffs as retailers continue to work through stockpiles acquired earlier in the year.
Elsewhere, gold and equity markets weren’t faring as well on Tuesday.
Gold was flat, trading at US$3,385 per ounce. It has surged more than 25 percent this year, setting a slew of new price records, and has continued to trade in elevated territory, fueled by the same conditions as silver’s recent run. However, silver benefits from a lower entry point for investors looking for more affordable safe-haven investments.
The S&P 500 (INDEXSP: INX) was down on Tuesday, recording a 0.78 percent decline to 5,986. The Nasdaq-100 (INDEXNASDAQ: NDX) was also down, falling 0.89 percent to 21,744, and the Dow Jones Industrial Average (INDEXDJX: .DJI) slipped 0.68 percent to 42,222.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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