Silver has underperformed gold so far this year, and as of early December had dipped below $16 per ounce.
The white metal has been buffeted by a number of factors, including the rise of cryptocurrencies like bitcoin. Indeed, Adrian Ash of BullionVault said recently that “silver investment demand has sunk as bitcoin has swamped financial headlines.”
Even so, some junior silver stocks have performed well this year, with a few recording impressive increases. The list below was generated on December 7, 2017 using the Globe and Mail’s market data filter, and it shows the TSXV-listed silver companies that have seen the biggest share price gains year-to-date.
Only companies with market caps above $5 million are included. If you think we’ve missed a junior silver stock that should be listed, please let us know in the comments. Our list of this year’s top-performing TSX-listed silver stocks can be viewed here.
1. New Nadina Explorations (TSXV:NNA)
Current price: $3.53; year-to-date gain: 4,052.94 percent
First on our list of top-performing junior silver stocks is New Nadina Explorations. The company has a number of properties in BC, Saskatchewan, the Northwest Territories and Nunavut.
New Nadina’s latest news came on December 4, when it announced that it had raised $693,750 from the first tranche of a non-brokered private placement. All of the money will be spent on exploration and drilling at the company’s BC-based Silver Queen silver-gold-copper–lead–zinc project.
The plan is to complete about 6,000 meters of drilling at the Blue zone anomaly intersected earlier this year. According to New Nadina, samples from the Blue zone are currently in the lab, with results pending.
2. Jaxon Mining (TSXV:JAX)
Current price: $0.23; year-to-date gain: 525 percent
It’s been a big year for Jaxon Mining, an exploration and development company focused on acquiring highly prospective properties in BC.
The company currently holds two key assets, but its main focus this year has been the Hazelton project, which is prospective for world-class Eskay Creek- and Equity Silver-style mineralization. Most recently, Jaxon announced the completion of a Phase I drill program at Hazelton. First assays are expected in late December, and the company is already planning exploration and drill programs for spring 2018.
3. Castle Silver Resources (TSXV:CSR)
Current price: $0.28; year-to-date gain: 292.86 percent
Castle Silver Resources is focused on developing its past-producing Castle silver-cobalt mine in Ontario. Commenting recently on the company’s progress, President and CEO Frank Basa said, “we expected to find more cobalt and silver at the Castle property [in 2017], and our exploration results were excellent.”
The company is also testing the Re-2OX process to recycle lithium-ion batteries by stripping the casing, leaching the cathode of the batteries and forming a high-purity precipitate containing valuable metals. In October, Castle signed a provisional milling agreement with Granada Gold Mine (TSXV:GGM).
4. Maya Gold & Silver (TSXV:MYA)
Current price: $0.36; year-to-date gain: 153.57 percent