1. Adriatic Metals (ASX: ADT)
market cap: $ 2.05 billion
Share price: AU $ 5.86
The Adriatic Metals is a precious and base metals minor in South-Central Europe that is now producing silver from the rupee mine in its variant project located near Verace, a historic mining city in Bosnia and Herzegovina. The Adriatic focuses its first silver-Leide at the Vareš processing plant in February 2024 and focused zinc.
On July 1, 2025, the Adriatic announced that it achieved commercial production in Vyre.
The Vareš has a focus on the money deposit of the Adriatic, for which it has released an ore reserve estimate in December 2023. The estimate indicates an 18 -year -old mine’s life and a possible reserves of 83 million ounces of silver, 640,000 ounce gold, 723,000 tonnes of zinc, 457,000 tonnes, 64,000 tons, 64,000 tonnes and 64,000 tonnes of tonnes.
The Q1 2025 update of the Adriatic, released on 31 March, highlighted the production of 1.3 million silver equivalent ounces, which is 44 percent from 934,000 ounces in Q4 2024.
On 13 June, the company entered an agreement acquired by Dundi precious metals (TSX: DPM, OTC: DPMLF), a fellow precious metal manufacturer in the Balkan region of Europe. Under the terms of the deal, the adsrtic shareholders will be offered a 47.8 percent premium at AU $ 5.56 per share, AU $ 3.76 at ASX closing price, and will be the option to accept either cash offers or shares in the dandy. The acquisition is expected to be closed in Q4.
2. Silver Mines (ASX: SVL)
market cap: $ 295.14 million
Share price: AU $ 0.15
Silver Mines Central New South Wales, Australia has an advanced-phase silver discovery and development company: its bounds silver project, located 26 km east of Madge, and its tona gold project, which is 80 km south of Orange.
Bodens represents the largest underdeveloped silver resources in Australia. The project includes 2,115 square kilometers title, including an 80 km strike. In the latest reserve estimate of Silver Mine for the bodens released in December 2024, the company reported a perfect and possible mineral reserves of 71.7 million ounces of silver. This estimate included 180 million ounces of silver measured, indicated and estimated resources and 426,000 ounces of gold.
The project, originally approved in April 2023, was stopped in August 2024, as the court proceedings were reversed after the appeal court’s decision on the possible impact of electrical transmission lines on the project. In a follow -up statement, silver mines stated that it would continue to work to achieve all relevant permits and development consent.
By mid -July, silver mines have provided all the requested information for redistribution of the development applications of the New South Wales Department of Planning, Housing and Infrastructure.
Additionally, on 2 July, the company completed the acquisition of Calico North Project in California, USA from Domestic Energy Metals (TSXV: DEMC, DEMCF) and entered an earning-in agreement with Outcrop Silver (TSXV: TSXV: TSXV: OCG) Assistant Lastum Gold for 80 percent of the Kirmer Hills Project. Both are located in San Bernardino County and have seen historical production. Silver mines estimate that the discovery of properties will begin during the third quarter.
3. Andian Silver (ASX: ASL)
market cap: $ 222.19 million
Share price: AU $ 1.40
Andian Silver is a discovery and development company of a precious metals that focus on pursuing the Sero Bio Silver and Gold Project in Southern Chile. The company owned Sero Bio in early 2024.
The land package includes 70 exploration concessions that cover a total of 285 square kilometers and host a past-producing mine that had been in operation for more than 15 years. It produced 45 million ounces of silver and 650,000 ounce gold in 2022 before being kept on care and maintenance.
Andian has been focused on enhancing Sero Bio Resource and near-close drilling goals as well as creating new discoveries. Since obtaining the project, the company has increased the resources by about 439 percent in 14 months.
In its most recent resource estimate for the project released on 1 April 2025, the company reported that its silver equal to ounces increased by 22 percent to 111 million ounces. The total resource expanded up to 9.8 million tonnes of ore equal to 353 grams per ton (g/t) silver.
The company continues to target resource expansion and is also drilling to upgrade estimated resources in the measured and indicated category. At the end of the March 2025 quarter, with approximately AU $ 20 million cash, Andians have been well funded to pursue the project.
On July 18, the company reported that it successfully discontinued the AU $ 30 million placement and would use income for resource development and infill drilling campaigns as well as support for technical and viability studies.
4. Unique Silver (ASX: USL)
market cap: $ 208.02 million
Share price: AU $ 0.445
Unico Metals focus on property in Argentina. Its major project is Sero Leone, which was expanded through several acquisitions in 2024. These expansion creations construct on Leon’s Greenfield Concert Project, with Unico 80 percent stake, and more advanced Pingino project.
The May 2023 resource estimation for Sero Leone gave 40.9 million ounces of silver, 344,200 ounce gold, 332 million pounds of zinc and 129 million pounds and indicated an estimated resources.
In July 2024, UNICO fulfilled Australia Gold (ASX: AGD, OTCQB: AGLDF) and Capella Metals (TSXV: CMil, OTCQB: CMILF) to complete a share purchase agreement to get 100 percent interest in Sierra Blanca Silver-Gold Project from CMILF. The acquisition will allow Unico to expand Sero Leon and consolidate the Pinguino vein in the same unit.
Soon after, in August 2024, Unico signed an agreement with PAN American Silver (TSX: PAAS, NYSE: PAAS) to buy 100 percent interest in Jokin and Sero Pantundo projects. Projects are located 60 km from the Sero Leone project, which enhance the overall scale and economics of the regional portfolio.
Under the terms of the deal, which closed on October 20, UNICO has to provide US $ 2 million additional payment on publication of a feasibility study and US $ 8 million on the first production from the site, providing US $ 2 million upfront payment.
On 6 November, UNICO closed on a funding package, AU $ 22.5 million through sales of 83.33 million ordinary shares at $ 0.27 per share. The company said that it would use the money to operate the 50,000 meter search program in Sero Leon and Jokin projects and update mineral resource estimates at the end of 2025.
The results of the Sero Leone program began to be given in December 2024, with the most recent release on 5 May. In the announcement, Unico reported the upper-class silver returns, including a highlighted intercept of 772 g/T silver or more than 13 meters, including more than 1.7 meters more than 1.7 meters 4,625 g/T silver equivalent.
Additionally, the most recent results of the 10,000 meter maiden drill program in Jokin, launched in mid -March, came on 14 July. In the announcement, Unico reported a highlighted assay of more than 90 meters/T silver, which included a square of 718 g/t more than 4 meters.
5. Sun Silver (ASX: SS1)
market cap: $ 157.12 million
Share price: AU $ 1.00
Sun Silver is an exploration and development company that is working to carry forward its MAVIC Springs Silver-Gold Project at Nevada, US, which it has acquired from Elected 79 Gold (CSE: Elem, OTC PINK: ELMGF) in May last year. The silver company completed its initial public offer and started trading on ASX that month.
On 13 November, Sun Silver announced that it expanded its land holdings in Maverick Springs by acquiring 80 additional load claims, increasing the property size by 34 percent to 26.28 square kilometers. The new claims are accompanied by the strike of the north and established minerals.
The final assays of the inaugural drill program of Maverick Springs were released on 14 January, and included a highligned drill holes outside the resource range with more than 102 meters 84.5 g/t silver, including 454.6 g/t silver square over 7.62 meters.
Based on the results of this first drill campaign, Silver Sun announced at the end of March that it increased the Jorc-Complin Ingred mineral resource estimate on the project by more than 13 percent. The new resource is an ounce of 218.54 million tonnes of ore to 479.8 million silver, which is made up of 297.5 million ounces of silver on 42.2 g/t silver and 2.16 million ounces of gold on 0.31 g/t gold.
The most recent results of their exploration program in Maveractk came on July 2, which reported the assay equal to 160 g/t silver more than 70 meters, which included over 460 g/t 22.4 meters. Drill Hole gave more than 0.76 meters to an interval equal to the highest silver in the history of the project, 10,548 g/t.
In addition to his investigation work, Sun Silver announced on 24 July that he received firm commitments to raise AU $ 30 million from a group of domestic and international institutions. With the intention of increasing mineral resource estimates, it is planning to use the income from placement for fund infils and placements in Mavric.
Funds will also be used to support technical and economic studies, as well as to perform metal work testing testing from the US Department of Defense to carry forward important mineral funding.
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Securities disclosure: I, Dean Belder, is not interested in any company mentioned in this article.