The precious metal silver is often compared to gold, and is important in jewellery and as a safe haven.
Unlike gold, silver also has many industrial uses, including in the production of electronics, automobiles, medicine and photography, and, of course, silverware. Energy transition applications are a growing demand sector for silver — the metal is valued for its conductive capacity, which makes it particularly useful in the production of photovoltaic panels.
Silver supply has tightened in recent years as industrial demand rises, and this was one of the factors that helped the silver price break through the US$30 per ounce mark in May for the first time since 2013.
Silver also set a new all-time high in Australian dollars on May 29, when it climbed to AU$48.46. While the price of silver has pulled back below US$30 in recent weeks, it has still been trading at levels not seen since 2021.
The majority of silver is produced as a byproduct at gold and base metal operations, with companies primarily focused on silver being much rarer. In this silver price environment, it is a good time to learn about the largest primary silver companies listed on the ASX.
Market cap: AU$950.72 million; share price: AU$2.95
Market cap: AU$233.75 million; share price: AU$0.145
Silver Mines is an advanced-stage silver exploration and development company focused on its Bowdens silver project, which is located in Central New South Wales, 26 kilometres east of Mudgee.
Market cap: AU$64,94 million; share price: AU$0.041
Investigator Resources is a polymetallic exploration and development company with assets throughout Australia and Tasmania. Its flagship property is the Paris silver project, located on South Australia’s Eyre Peninsula. The company has referred to Paris as Australia’s highest-grade undeveloped silver project.
Market cap: AU$45.61 million; share price: AU$0.145
Market cap: AU$10.14 million; share price: AU$0.089
Lode Resources is an exploration company focused on the development of assets within the New England Fold Belt. Its flagship property is the Webbs Consol silver-base metals project, located 16 kilometres southwest of Emmaville, New South Wales. The resource was originally discovered in 1890 and was mined until the mid-1950s.
The firm has continued to test the Tangoa West lode down to a depth of 450 metres. According to the company, the increasing depth has provided it with greater confidence in the size and high value of the target, as well as a better understanding of its scale.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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