2024 has been positive for silver stocks. A variety of factors pushed the white metal’s price higher during the second quarter, allowing it to break the US$30 per ounce mark for the first time since 2012.
Year-to-date gain: 120.83 percent; market cap: C$71.35 million; share price: C$0.265
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 year-to-date high of C$0.425 on May 15.
Year-to-date gain: 118.75 percent; market cap: C$55.02 million; share price: C$0.175
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: 99.07 percent; market cap: C$1.22 billion; share price: C$17.06
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, with guidance 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 said it anticipates that exploration efforts at the South-East Deeps target will further extend the life of the mine.
Results from its ongoing drilling at the Portigueño target included a highlight of 49 g/t silver over 1.6 meters, while results from two holes testing the depth of the San Luis target produced a highlighted intercept more than 150 meters below surface of 66 g/t silver over 8.9 meters, which included 111 g/t silver over 2.5 meters.
Shares of Gatos reached a year-to-date high of C$19.29 on July 15.
Year-to-date gain: 95.77 percent; market cap: C$185.09 million; share price: C$1.39
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: 67.68 percent; market cap: C$1.09 billion; share price: C$4.41
Endeavour Silver is a silver company with two operating silver-gold mines in Mexico — Guanaceví and Bolañitos — plus an advanced-stage development project and several exploration properties.
The company said that silver production for the year is estimated to decrease by 900,000 to 1.1 million ounces and has recalculated its 2024 guidance to 4.4 to 4.6 million ounces.
Shares of Endeavour reached a year-to-date high of C$6.80 on July 15.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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