Soaring price boosts ASX silver stocks

Silver spot prices have surged past US$60 per ounce driven by strong investor demand for industrial applications which led to a huge rally for the following ASX-listed silver mining stocks on Wednesday.

Unico Silver Limited (ASX: USL) 

has shown impressive progress in the September quarter with a significant resource upgrade and a well-funded drilling program.
The most important development was the 73% increase in the Cerro Leon Mineral Resource which now stands at 162 million ounces AgEq and this was supported by more than 20,400 metres of new drilling and ongoing expansion across several prospects.

The company restarted its 30,000 metres drilling program at the Joaquin Project and early Phase 2 results confirmed wide high grade oxide zones at La Negra SE while the quarter also included a $25 million placement at $0.35 per share which lifted cash to $28.8 million.
With constant drilling success at La Negra SE, La Morocha SE and new prospects such as Brunilda, the company is positioned for further resource growth throughout FY26.

Sun Silver Limited (ASX: SS1) 

on December 9 reported a major upgrade to the Maverick Springs Resource which added 59Moz silver equivalent and lifted the total to 539Moz AgEq at 71g/t.
The company said that this is its third resource upgrade in less than two years which makes Maverick Springs a very important US silver asset.

Silver was added to the 2025 U.S. Department of the interior critical minerals list which enhances U.S government interest in the Maverick Springs project.
The company had $34.2 million cash at the end of September quarter and zero debt which gives it enough funding to cover exploration and technical work in future.

Mithril Silver and Gold Limited (ASX: MTH)

in the first week of December executed a purchase option agreement to acquire the La Dura gold-silver property which is located close to Copalquin project.
The company has also announced that drilling at the Copalquin District continued to expand multiple high-grade zones, delivering another standout intercept of 7.19g/t gold and 260g/t silver over 8.03 metres which shows resource growth potential at the project. 
Drilling at Zaragoza during the September quarter showed good results too like 6.4 g/t gold and 4,400 g/t silver over 0.57 metres. 
The company raised C$11.5 million in July and it finished the quarter with $18.3 million cash and no debt.

Silver Mines Limited (ASX: SVL) 

has recently reported that diamond drilling at the Bowdens Silver Deposit returned the thickest and highest-grade mineralised intercept ever recorded at the project.
The company worked with the Department of Planning, Housing and Infrastructure to get the mine’s development consent back during the September quarter.

The company has completed the acquisition of the Calico North Project and began its Farm-In to acquire up to an 80% interest in the Kramer Hills Project in San Bernardino County, California. 
Silver Mines ended the quarter with $43.7 million in cash with the help of $34 million raised from a placement.

(Source: Company Reports)