Sun Silver Riding the Silver Wave in Nevada - Andrew Dornan (ASX: SS1)

Sun Silver (ASX: SS1) positions itself as the most leveraged silver stock on the ASX. The company’s Maverick Springs Project already has a very big resource with scope to continue growing while upgrading the inferred resource to indicated status, carrying out metallurgical studies and preparing for a scoping study.

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Produced by Resource Media

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The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

 

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NOTABLE INSIGHTS

1. Sun Silver is the most leveraged silver play on the ASX

• Sun Silver owns the largest primary pre-production silver asset in the US, Maverick Springs, with a resource of 480Moz at 68.29g/t.

• Despite this, the company trades at just $0.16 per in-ground ounce, compared to ~$1 on the ASX and ~$2 on North American exchanges — highlighting a significant valuation gap and investment opportunity.

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2. Silver demand is booming — and supply can’t keep up

• The silver market is in supply deficit, driven by increased demand from solar panels, AI data centres, and solid-state batteries (which could alone require up to 150Moz/year by 2030).

• Silver’s dual role — as an industrial metal and monetary hedge — is gaining traction, with growing recognition of its critical role in green energy and economic uncertainty.

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3. Parallel workstreams are accelerating project value

• Sun Silver is advancing infill drilling, metallurgical testing, and resource expansion simultaneously.

• A second near-surface resource is expected soon, enabling possible early revenue and reducing pre-production capital costs.

• A scoping study is targeted for Q2 2026, assessing multiple processing routes to maximise recovery and value.

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4. The ASX still undervalues silver — but that may change fast

• Australian investors are still warming up to silver, much like they were with lithium a decade ago.

• Dornan believes silver will eventually be classified as a critical mineral, and as awareness grows, capital will follow the opportunity, especially with a supportive silver price environment and growing M&A activity in the sector.