January 2024: 3 Largest ASX Silver Stocks by Market Cap

Published on: Jan 19, 2024
Author: Caroline Kong

Silver as a precious metal plays roughly the same important role as gold in jewellery and safe-haven investments. However, silver’s influence is changing as its industrial applications continue to grow. The truth is, silver remains largely  a by-product of lead, gold, zinc and copper ores.

In 2024, analysts and investors expect that the price of silver will rise far more than gold. With this in mind, it makes sense for investors to keep an eye on the following silver stocks, which are among the largest by market capitalization, traded on the Australian Stock Exchange. It’s worth pointing out that all of these companies develop and produce silver as a primary mineral, and all figures are as of the close of trading on 8 January 2024

  1. Adriatic Metals (ASX:ADT)

Market cap: A$1.07bn; current share price: A$3.60

Adriatic Metals is a precious and base metals developer working to advance its mining assets in south-central Europe. The company’s Vareš mining project, located near the historic mining town of Vareš in Bosnia and Herzegovina, is currently under construction and, as of 13 September 2023, is 88% constructed and fully funded. The third quarterly report shows increased underground mining activity at the project, with first ore mining completed at the end of the second quarter and the first concentrate expected to be produced in January 2024.The project is expected to be completed by the end of the second quarter and the first concentrate is expected to be produced by the end of the second quarter.

It is worth pointing out that the Rupice deposit, which is part of the Vareš mine, is the company’s centre of gravity at this stage of production. According to the assessment, the deposit has a mine life of 18 years and underlying proven reserves of 83 million ounces of silver, 640,000 ounces of gold, 723,000 tonnes of zinc, 457,000 tonnes of lead, 64,000 tonnes of copper and 24,000 tonnes of antimony.

  1. Silver Mines (ASX:SVL)

Market cap: A$238.74 million; current share price: A$0.16

Silver Mines is an advanced-stage silver exploration and development company focused on the Bowdens Silver Project, located in central New South Wales, 26 kilometres east of Mudgee.The Bowdens property covers 2,115 square kilometres and has a strike length of 80 kilometres, making it Australia’s largest known undeveloped silver resource. In its latest Mineral Resource estimate released in March last year, the company reported measured, indicated and inferred resources of 189 million ounces of silver and 190,000 ounces of gold.

  1. Investigator Resources (ASX:IVR)

Market cap: A$55.43 million; current share price: A$0.04

Investigator Resources is a polymetallic exploration and development company with assets across Australia and Tasmania, with its flagship asset being the Paris silver project on the Eyre Peninsula in South Australia. In a July 2023 update to its Mineral Resource estimate, Investigator increased the Indicated and Inferred resources at the Paris silver mine from 24 million tonnes to 57 million ounces of silver and 99,000 tonnes of lead at an average grade of 73 g/t silver and 0.41% lead. The company says this is the highest grade primary silver project in Australia.

If you’re interested in investing in silver stocks, you might want to keep an eye on this company: Silver Storm Mining Ltd. (TSXV:SVRS). Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. Golden Tag recently completed the acquisition of 100% of the La Parrilla Silver Mine Complex, a prolific operation which is comprised of a 2,000 tpd mill as well as five underground mines and an open pit that collectively produced 34.3 million silver-equivalent ounces between 2005 and 2019. The Company also holds a 100% interest in the San Diego Project, which is among the largest undeveloped silver assets in Mexico.

Disclaimer: Investing involves risk, and individuals should conduct thorough research and seek professional advice before making financial decisions. NAI is being compensated for this content. Materials contained in this content are for information purposes only and is not intended to constitute an offering of securities in any jurisdiction. Nothing on this content should be construed as an offer, solicitation or recommendation to buy or sell products or securities.

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