Silver Retreat, a Buying Opportunity in ASX Silver Stocks?

ASX silver shares which had been as silver prices moved closer to US$117 per ounce before undergoing correction today. These have been driven by persistent supply constraints and increased relevance in the global economy. A few of the best stocks are:

Silver Mines Limited (ASX: SVL)

Silver Mines Limited (ASX: SVL) rose 9% on Friday and recently provided an update on the Bowdens Silver Project which confirmed that the company has worked on the redetermination of its development application by updating ecological surveys and biodiversity assessments to align with current NSW regulatory requirements.

The company also reported impressive exploration results from the Tuena Project where recent diamond drilling at the Elsienora, Barite and Pickers prospects intersected broad zones of gold, silver and base metal mineralisation.

Management noted that six of the seven drill holes returned significant intercepts which extended known mineralised systems and supported the case for further follow up drilling across underexplored strike lengths within the project area.

During the September 2025 quarter, the company worked with the Department of Planning, Housing and Infrastructure to reinstate the mine’s development consent and ended the quarter with $43.7 million in cash.

Silver Mines Limited also completed the acquisition of the Calico North Project and commenced its Farm In to earn up to an 80% interest in the Kramer Hills Project located in San Bernardino County, California.

West Coast Silver Limited (ASX: WCE)

West Coast Silver Limited (ASX: WCE) reported an impressive December 2025 quarter as it advanced exploration activities at the Elizabeth Hill Silver Project in Western Australia.

During the quarter, the company completed a Phase 2 diamond drilling program of 13 holes along with a near-mine aircore drilling campaign of 76 holes which enhanced geological confidence across the mineral system.

Silver mineralisation was visually identified in 9 of the 13 diamond drill holes including multiple intervals of native silver located above historical mine workings which points to strong continuity and meaningful upside potential.

The company currently has a market capitalisation of $93.22 million and the stock has surged 17.78% year-to-date while results from deeper drilling indicate that the Elizabeth Hill system extends at depth and may be larger than previously interpreted.

West Coast Silver strengthened its balance sheet through a $3.2 million placement which lifted cash reserves to $6.7 million as at early January 2026 to support ongoing drilling and exploration programs.

Boab Metals Limited (ASX: BML)

Boab Metals Limited (ASX: BML) has entered a pivotal phase after taking Final Investment Decision in late 2025 and commenced fully funded construction at its flagship Sorby Hills Silver Lead Project in the East Kimberley.

The Sorby Hills Project is fully financed through a committed $236 million project debt facility and project economics remain highly attractive as the FEED Study outlines an NPV of $411 million and an IRR of 37% while current silver prices are trading at around three times the assumptions used in the 2024 study.

Boab remains highly leveraged to rising silver prices, with sensitivity analysis indicating that each $1 increase in the silver price adds approximately $10 million to project NPV.

Investor sentiment strengthened after the share price surged 15.46% on Friday while the company’s current market capitalisation of $292.76 million remains modest relative to the scale and economics of the Sorby Hills Project.

Looking ahead, 2026 is expected to be catalyst rich with construction progress, the release of a Project Delivery Plan in Q2, drilling focused on resource expansion and first concentrate production targeted for H2 2027.

(Source: Company Reports)