Silver, a precious metal often overshadowed by gold, holds immense value beyond just jewelry and investments. Its significance extends to various industries like electronics, automobiles, medicine, and photography. Moreover, silver’s conductive capacity makes it indispensable in the production of energy transition applications such as photovoltaic panels. In recent years, the demand for silver in industrial sectors has surged, leading to a tightening supply and subsequent price surges.
The silver price crossed the US$30 per ounce mark in May, reaching a peak not seen since 2013. The rise continued as the price soared above AU$48, setting a new record in Australian dollars. Despite some fluctuations, with prices dropping and rising throughout the year, silver has managed to maintain a strong position above the US$30 and AU$46 marks, indicating a stable market.
With this bullish silver environment, it’s crucial to explore the top ASX-listed companies in the silver sector. These companies are ranked based on market capitalization, with data collected as of November 26, 2024, using TradingView’s stock screener.
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Adriatic Metals (ASX: ADT)
- Market cap: AU$1.36 billion
- Share price: AU$4.10
Adriatic Metals operates as a miner of precious and base metals in South-Central Europe, notably producing silver from the Rupice mine at its Vareš project in Bosnia and Herzegovina. With a strong focus on the Rupice deposit, the company has outlined substantial reserves of silver, gold, zinc, lead, copper, and antimony.
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Andean Silver (ASX: ASL)
- Market cap: AU$158.34 million
- Share price: AU$0.99
Andean Silver is dedicated to advancing the Cerro Bayo silver and gold project in Southern Chile, boasting a significant upgrade in silver equivalent ounces in its latest mineral resource estimate. The company’s aggressive drilling program aims to expand resources and make new discoveries in the region.
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Silver Mines (ASX: SVL)
- Market cap: AU$143.26 million
- Share price: AU$0.093
Silver Mines focuses on its Bowdens silver project in New South Wales, home to the largest undeveloped silver resource in Australia. Despite setbacks due to regulatory issues, the company remains committed to the project’s development and plans for future exploration to update its resource estimate.
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Sun Silver (ASX: SS1)
- Market cap: AU$100.17 million
- Share price: AU$0.665
Sun Silver is a developing exploration company operating in Nevada, USA, showcasing significant growth in its inferred mineral resource at the Maverick Springs project. With expansions in land holdings and promising assay results from drilling programs, the company aims to update its resource estimation and further enhance its asset value.
- Unico Silver (ASX: USL)
- Market cap: AU$96.35 million
- Share price: AU$0.20
Unico Metals focuses on advancing assets in Southern Argentina, particularly the Cerro Leon project. Through strategic acquisitions and funding initiatives, Unico aims to bolster its resource base, expand projects, and solidify its presence in the silver and gold sector.
In conclusion, the silver market presents a compelling opportunity for investors and industry players alike. Amidst price volatility and supply-demand dynamics, these ASX-listed silver companies exhibit strong potential for future growth and value creation. Stay informed and follow @INN_Australia for real-time updates on this evolving market landscape.
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