2024 has been positive for silver stocks, as silver prices soared during the second quarter of 2024, breaching the US$30 mark in May for the first time since 2012.
Year-to-date gain: 137.5 percent; market cap: C$57.8 million; share price: C$0.19
GR Silver Mining is a small-cap explorer and developer that is working to advance its Rosario Mining District in Sinaloa, Mexico, to production. The district consists of three core mining areas: Plomosas, San Marcial and La Trinidad.
The company’s primary focus has been the development of Plomosas and neighboring San Marcial, a 9,764 hectare land package that hosts a past-producing silver, gold, lead and zinc underground mine.
GR Silver’s share price reached a year-to-date high of C$0.23 on June 2.
Year-to-date gain: 108.33 percent; market cap: C$65.32 million; share price: C$0.25
Explorer Defiance Silver is working to advance its district-scale Zacatecas silver project in Zacatecas, Mexico.
The project consists of a 4,300 hectare land package and includes four project areas: San Acacio, Lucito, Panuco and Lagartos. Both San Acacio and Lagartos have seen previous exploration and mining activity.
Shares of Defiance reached a rear-to-date high of C$0.425 on May 15.
Year-to-date gain: 105.32 percent; market cap: C$1.35 billion; share price: C$5.40
Endeavour Silver is a silver company with two operating silver-gold mines in Mexico — Guanaceví and Bolañitos — an advanced-stage development project and several exploration properties.
Shares in Endeavour Silver reached a year-to-date high of C$5.63 on May 27.
Year-to-date gain: 89.44 percent; market cap: C$182.3 million; share price: C$1.35
Avino Silver and Gold Mines is a precious metals miner with two primary silver assets: the producing Avino silver mine and the neighboring La Preciosa project in Durango, Mexico.
Avino’s share price marked a year-to-date high of C$1.51 on May 26.
Year-to-date gain: 77.92 percent; market cap: C$342.45 million; share price: C$1.15
Gatos Silver is a silver-focused production and exploration company. Its flagship asset is the Cerro Los Gatos mine and district located south of Chihuahua City, Mexico.
The site consists of 14 predominantly silver, lead and zinc mineralization zones, and is a joint venture with Dowa Metals and Mining, which holds a 30 percent stake in the operation; Gatos owns the remaining 70 percent.
In the release, Gatos also notes that it expects similar production totals for 2024. It is looking for a range of 8.4 million to 9.2 million ounces of silver at an AISC of US$9.50 to US$11.50 per payable ounce. The company anticipates that exploration efforts at the South-East Deeps target will further extend the life of the mine.
Shares of Gatos reached a year-to-date high of C$16.91 on May 30.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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