Top 5 Silver Stocks on ASX
Adriatic Metals PLC (ASX: ADT)
has reported a strong operational quarter ending 30 June 2025. This was highlighted by a 23% increase in silver equivalent production which rose to 1.7M ounces from 1.4M ounces in the previous quarter. This improvement was mainly driven by a 50% rise in ore milled at the Vareš Silver Operation in Bosnia and Herzegovina which reached 99,000 tonnes. The quarter also saw the completion and commissioning of the Veovača Tailings Storage Facility successfully removing earlier processing constraints and paving the way for the declaration of commercial production at the start of July. Enhanced mine development and record metallurgy, with silver grades in lead concentrate hitting nearly 3,000g/t further supported the company’s performance.
Adriatic remained focused on maintaining a healthy balance sheet and closed the quarter with $59M in cash. The company revised its full year production guidance to 9.5 to 10.5Moz silver equivalent after adjusting for challenges experienced earlier in the year due to tailings facility access. Looking ahead, Adriatic is advancing expansion studies to potentially double processing capacity and is progressing new infrastructure at its Rupice deposit. The pending acquisition by Dundee Precious Metals which is now cleared by Bosnian authorities is set to bring additional opportunities as management continues to prioritize operational momentum and disciplined financial management.
Sun Silver Limited (ASX:SS1)
continued to advance its flagship Maverick Springs Project in Nevada over the June 2025 quarter. It launched a robust drill campaign to collect metallurgical samples, in-fill the existing resource and extend high grade silver and antimony mineralization. Results from the first extensional hole (MR25-211) delivered the project’s highest ever silver equivalent intercept with 70.1m at 160g/t AgEq including a 22.4m interval at 460g/t AgEq and a standout assay of 0.76m at 10,548g/t AgEq. These findings together with reassayed historic core indicates up to a 26% uplift in silver grades for high grade intervals. This underscore the mounting scale of the deposit. The current JORC Inferred Mineral Resource stands at 218Mt grading 42.2g/t Ag and 0.31g/t Au supporting an inventory of 296.5Moz silver and 2.2Moz gold (480Moz AgEq).
Operational highlights also include progress in antimony exploration with broad mineralized zones returning up to 7.8% Sb and multiple intercepts above 0.1% Sb grades that surpass many peer projects in North America. Sun Silver’s recently finalized white paper positions the Maverick Springs Project as a potential critical domestic source of antimony for US defense and energy sectors aiming to secure federal support through the US Department of Defense. The company secured commitments for a $30 million placement strengthening its cash position to $10.8m at quarter end and enabling aggressive advancement of drilling, resource upgrades and technical studies into 2026.
Unico Silver Limited (ASX: USL)
marked significant progress during the June 2025 quarter across its Santa Cruz portfolio in Argentina, particularly at the Joaquin and Cerro Leon projects. The company completed an extensive 20,456 meter drilling campaign delivering 128 drill holes that expanded high grade silver and gold mineralization zones. Highlights include major step out results extending mineralized strike lengths at La Negra SE and La Morocha SE prospects alongside new discoveries such as the Brunilda zone. At Cerro Leon, the PLUS 150 strategy to enhance oxide resources saw strong infill drilling outcomes while the BEYOND 300 sulfide growth target was advanced through multiple substantial intercepts at Karina, Savary, Kasia and MS Link prospects. These results support the company's goal of transitioning from explorer to developer targeting JORC-compliant resources of 150 million ounces silver equivalent in the near term and aiming to expand to 300 million ounces over the medium term.
Unico ended the quarter with $12.5 million in cash following a $30.5 million equity raise earlier in the year that underpinned its aggressive drilling and resource definition programs. The company reported $6.8 million in exploration expenses this quarter as it completed its approximately 30,000 meter drill program and plans to temporarily pause drilling in Q3 to focus on delivering a revised Mineral Resource Estimate scheduled for September 2025.
Argent Minerals Limited (ASX: ARD)
has demonstrated steady exploration progress during the June 2025 quarter. The company advanced its key exploration programs across its predominantly NSW based project portfolio. The company’s flagship Kempfield project saw detailed geophysical reinterpretation of historical VTEM and IP surveys delineating three significant conductive chargeable trends totaling around 8.5 km in strike length with areas still underexplored and prospective for VMS style silver-copper-lead-zinc mineralisation. Drilling at the Kempfield NW zone continued to intersect high grade silver and associated base metals which is exemplified by notable intercepts such as 34m at 13.6 g/t Ag with significant copper, lead and zinc grades. In parallel, at the Trunkey Creek Gold Project, rock chip sampling extended known gold mineralisation trends to 4.7 km with exceptional assay results reaching up to 216 g/t Au confirming high tenor gold veins related to historic workings and supporting a large scale ore corridor open along strike.
Argent Minerals maintained a conservative cash position of approximately $1.1 million at quarter end reflecting ongoing expenditures on exploration activities totaling around $103,000 in the period. The company continued to fund its programs through disciplined spending and asset management including holding a investment in MinRex Resources Limited.
Andean Silver Limited (ASX: ASL)
has reported another productive quarter ending June 2025 which is marked by continued exploration success and advancing toward a production restart at its Cerro Bayo Silver Gold Project in southern Chile. The company increased its total Mineral Resource Estimate to 9.8 million tonnes grading 353 g/t silver equivalent containing 111 million ounces of silver equivalent. This reflects an 18% increase in tonnage and a 22% rise in silver equivalent ounces. This growth was driven by strong drilling results at several prospects including Cristal, Pegaso 7 and Coyita North where drilling extended mineralization deeper and along strike often outside the current resource boundaries.
FAQ About ASX Silver Stocks
Are silver stocks a good investment?
Yes, they offer strong growth potential as in 2025 the price of silver appreciated nearly 30% due to rising industrial demand and supply deficits.
What is the outlook for the silver industry in Australia & globally?
Global and Australian silver industry is booming because of its demand in tech (EV) and solar sector. Prices are expected to stay strong with ongoing supply shortages.
What factors should I consider before investing in silver stocks?
How risky are silver stocks?
Silver stocks are highly volatile. Risks other than the commodity risk are in play, as operational risk also gets involved with such companies.
(Source: Company Announcements)
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