Silver-mining corporations and juniors have seen help from a robust silver worth in 2025. The white steel has gained steadily because the begin of the yr, rising 11.47 % to breach the US$32 per ounce mark.
Silver’s twin operate as a financial and industrial steel gives nice upside. Demand from vitality transition sectors, particularly to be used within the manufacturing of photo voltaic panels, has created tight provide and demand forces.
Demand is already outpacing mine provide, making for a optimistic scenario for silver-producing corporations.
To this point, aboveground stockpiles have been conserving the worth in verify, however the expectation is these shares shall be depleted in 2025 or 2026, additional proscribing the provision facet of the market.
How has silver’s worth motion benefited Canadian silver shares on the TSX, TSXV and CSE? The 5 corporations listed beneath have seen the perfect performances because the begin of the yr. Information was gathered utilizing TradingView’s inventory screener on February 12, 2025, and all corporations listed had market caps over C$10 million at the moment.
Yr-to-date achieve: 125.35 %
Market cap: C$616.71 million
Share worth: C$1.6
Discovery Silver is a treasured metals improvement firm centered on advancing its Cordero silver mission in Mexico. Moreover, it’s seeking to turn out to be a gold producer with its just lately introduced acquisition of the manufacturing Porcupine Advanced in Ontario, Canada.
Cordero is positioned in Mexico’s Chihuahua State and consists of 26 titled mining concessions overlaying roughly 35,000 hectares in a prolific silver and gold mining district.
A 2024 feasibility research for the mission outlined confirmed and possible reserves of 327 million metric tons of ore containing 302 million ounces of silver at a median grade of 29 grams per metric ton (g/t) silver, and 840,000 ounces of gold at a median grade of 0.08 g/t gold. The positioning additionally hosts important zinc and lead reserves.
The report additionally indicated favorable economics for improvement. At a base case state of affairs of US$22 per ounce of silver and US$1,600 per ounce of gold, the mission has an after-tax web current worth of US$1.18 billion, an inside fee of return of twenty-two % and a payback interval of 5.2 years.
Discovery’s shares gained considerably on January 27, after the corporate introduced it had entered right into a deal to purchase the Porcupine Advanced in Canada from Newmont (TSX:NGT,NYSE:NEM).
The Porcupine Advanced is made up of 4 mines together with two that are already in manufacturing: Hoyle Pond and Borden. Moreover, a good portion of the advanced is positioned within the Timmins Gold Camp, a area identified for historic gold manufacturing.
Discovery anticipates manufacturing of 285,000 ounces of gold yearly over the subsequent 10 years and has a mine life of twenty-two years. Inferred sources on the website level to important enlargement, with 12,493.5 million ounces of gold, from 254.5 million metric tons of ore with a median grade of 1.53 g/t.
Upon the closing of the transaction, Discovery can pay Newmont US$200 million in money and US$75 million in widespread shares, and US$150 million of deferred consideration shall be paid in 4 funds starting on December 31, 2027.
Discovery’s share worth reached a year-to-date excessive of C$1.65 on February 4.
2. Avino Silver and Gold (TSX:ASM)
Yr-to-date achieve: 61.42 %
Market cap: C$272.62 million
Share worth: C$2.05
Avino Silver and Gold Mines is a treasured metals miner with two main silver property: the manufacturing Avino silver mine and the neighboring La Preciosa mission in Durango, Mexico.
The Avino mine is able to processing 2,500 metric tons of ore per day ore, and in keeping with its FY24 report launched on January 21 the mine produced 1.1 million ounces of silver, 7,477 ounces of gold and 6.2 million kilos of copper final yr. General, the corporate noticed broad manufacturing will increase with silver rising 19 %, gold rising 2 % and copper growing 17 % yr over yr.
Along with its Avino mining operation, Avino is working to advance its La Preciosa mission towards the manufacturing stage. The positioning covers 1,134 hectares, and in keeping with a February 2023 useful resource estimate, hosts a measured and indicated useful resource of 98.59 million ounces of silver and 189,190 ounces of gold.
In a January 15 replace, Avino introduced it had acquired all needed permits for mining at La Preciosa and begun underground improvement at La Preciosa. It’s now growing a 350-meter mine entry and haulage decline. The corporate mentioned the primary section on the website is anticipated to be below C$5 million and shall be funded from money reserves.
Avino’s share worth marked a year-to-date excessive of C$2.05 on February 12.
Yr-to-date achieve: 55.56 %
Market cap: C$42.55 million
Share worth: C$0.49
Capitan Silver is an exploration firm centered on advancing silver and gold tasks in Durango, Mexico.
The corporate’s flagship asset is the one hundred pc owned Cruz de Plata mission, within the coronary heart of Mexico’s historic Penoles Mining District. The district is thought for internet hosting important silver mineralization and historic mining.
The Cruz de Plata mission encompasses two historic silver mines — Jesus Maria and San Rafael — and the El Capitan oxide gold prospect, all inside a 22.9 sq. kilometer land bundle. To this point the corporate has accomplished 86 diamond drill holes totaling over 11,550 meters.
A 2020 technical report demonstrated an inferred useful resource of 16.99 million ounces of contained silver and 331,000 ounces of contained gold from 28.3 million metric tons of ore with grades of 18.7 g/t silver and 0.36 g/t gold.
Shares have seen regular positive aspects because the begin of the yr as Captain Silver has been working to boost funds for exploration work on the mission. The corporate introduced on January 21 that it will obtain a strategic funding by a C$4.2 million non-brokered personal placement led by the Jupiter Silver and Gold Fund.
The corporate then introduced on February 5 that the position can be upsized to C$5.3 million and additional amended phrases of the position on February 10, when it elevated the warrant worth to C$0.50 per share from C$0.40 per share.
Captain’s share worth reached a year-to-date excessive of C$0.53 on February 9.
4. Silver Storm Mining (TSXV:SVRS)
Yr-to-date achieve: 52.63 %
Market cap: C$71.36 million
Share worth: C$0.145
Silver Storm Mining is an exploration and improvement firm centered on advancing its silver tasks in Durango, Mexico.
The corporate’s flagship asset, the La Parilla Silver mine advanced, was wholly acquired from First Majestic Silver (TSX:AG,NYSE:AG) in a definitive asset buy settlement that closed in August 2023.
The 69,478 hectare past-producing property is totally permitted and is residence to 5 underground silver mines and one open pit. Manufacturing on the location was carried out between 2004 and 2019.
On February 11, 2025, Silver Storm introduced a important enhance to the mineral useful resource estimate at La Parilla. The indicated useful resource elevated 107 % to 10.8 million silver equal ounces from 5.2 million, and the inferred useful resource elevated 58 % to 16.3 million silver equal ounces from 10.3 million. By way of gross steel worth, the silver-equivalent indicated and inferred sources draw 66 % and 69 % of their worth from silver respectively.
The corporate additionally reported that it had modelled 23 extra mineralized buildings on the website, together with a number of beforehand mined by First Majestic.
“This important progress in mineral sources enhances the potential of our mission, helps our purpose to restart the mine and be part of the unique rank of silver producers,” Silver Storm President and CEO Greg McKenzie mentioned.
Silver Storm’s share worth reached a year-to-date excessive of C$0.15 on February 6.
5. Zacatecas Silver (TSXV:ZAC)
Yr-to-date achieve: 50 %
Market cap: C$10.42 million
Share worth: C$0.09
Zacatecas Silver is a treasured metals exploration and improvement firm centered on advancing its Zacatecas silver mission and Esperanza gold-silver mission, that are positioned in Central Mexico.
Its Zacatecas mission is a district-scale website positioned throughout the Fresnillo Silver Belt, which up to now has produced greater than 6.2 billion ounces of silver. In a January 2022 mineral useful resource estimate for the mission’s Panuco deposit, the corporate reported inferred sources of 15 million ounces silver and 15,000 ounces of gold from 2.73 million MT of ore grading 171 g/t silver and 0.17 g/t gold.
Esperanza is an advanced-stage mission that the corporate plans to develop to the mining stage. In a January 2023 mineral useful resource estimate, the corporate reported measured and indicated quantities of 913,000 ounces of gold and eight.5 million ounces of silver from 30.54 million metric tons (MT) of ore grading 0.93 g/t gold and eight.7 g/t silver.
Zacatecas shares have gained because the begin of the yr, however the enhance accelerated after the corporate introduced on January 20 that it had appointed Eric Vanderleeuw as CEO and director and introduced on Mario Vetro as an advisor. The brand new crew is concentrated on prioritizing exploration within the Zacatecas district, particularly the Panuco deposit and El Cristo vein system.
Zacatecas’ share worth reached a year-to-date excessive of C$0.095 on February 9.
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Securities Disclosure: I, Dean Belder, maintain no direct funding curiosity in any firm talked about on this article.
