Silver’s solid bull case has nothing to do with  #silversqueeze, which was a load of nonsense.

Big banks and hedge funds do not have massive, short positions in the silver market to suppress the price of the precious metal.

Which means there is no opportunity to force a ‘short-squeeze’ GameStop-style and generate extraordinary gains.

But such efforts still have an obvious, short-lived impact on precious metals prices, Metals Focus says.

The silver price briefly touched $US30/oz on Thursday – an eight-year high – before falling back to $US27/oz.

Aussie silver stocks flew in response. Briefly.

“As the past few days have illustrated, concentrated investor buying can certainly fuel strong rallies,” the research consultancy says.

“These, however, are likely to be short-lived, in the absence of more structural bullish factors.

“[But] in the current environment, given an already bullish silver outlook, Reddit-type investor campaigns could bring forward the forthcoming rally.”

This imminent rally could be helped along by booming industrial demand. Silver is used in solar cells (PV) as a conductor of heat and electricity.

From 2020 through 2030, the PV sector is expected to consume a cumulative 888 million ounces of silver — equivalent to an average of 81 million ounces per year.

Current annual global silver production is just under 1 billion ounces per year.

That’s why Jeffrey Currie, global head of commodities research at Goldman Sachs, favours silver over gold as an investment in precious metals.

“I like to say that it’s a turbo-charged version of gold,” Currie says.

“That’s what silver has that gold doesn’t have: It goes into solar panels.”

Winners & Losers

Here’s how 187 ASX-listed gold/silver stocks performed over the past week:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:

CODE COMPANY 1 WEEK PRICE CHANGE % 1 MONTH PRICE CHANGE % 6 MONTH PRICE CHANGE % 1 YEAR PRICE CHANGE % PRICE MARKET CAP
ANX Anax Metals 92 109 285 840 0.094 $ 13,169,702.02
NES Nelson Resources 31 15 57 166 0.11 $ 15,887,608.88
TMZ Thomson Resources 23 33 332 548 0.16 $ 46,299,702.78
TNR Torian Resources 21 38 122 363 0.04 $ 30,084,198.57
MLS Metals Australia 20 100 50 200 0.003 $ 10,477,258.94
GED Golden Deeps 18 18 30 -48 0.013 $ 9,295,360.14
MCT Metalicity 18 5 -9 362 0.02 $ 33,140,897.71
CEL Challenger Exploration 15 64 68 103 0.345 $ 187,825,240.86
MKR Manuka Resources 13 0 -23 0 0.425 $ 37,909,576.62
NAG Nagambie Resources 13 16 -12 6 0.052 $ 25,996,481.99
SVL Silver Mines 13 -5 10 131 0.24 $ 255,281,718.27
DCX Discovex Resources 13 0 13 80 0.009 $ 9,569,312.61
AOP Apollo Consolidated 12 7 -6 49 0.34 $ 92,837,978.55
FAU First Au 12 -10 6 90 0.019 $ 10,223,608.08
TMX Terrain Minerals 11 0 -23 150 0.01 $ 7,357,610.09
SFM Santa Fe Minerals 11 12 48 50 0.105 $ 7,645,972.85
DRE Drednought Resources 10 -4 144 340 0.022 $ 49,760,643.70
AQI Alicanto Min 10 5 38 100 0.11 $ 35,960,920.71
TAM Tanami Gold 10 1 16 123 0.089 $ 102,233,443.00
RXL Rox Resources 12 -29 -38 42 0.037 $ 73,793,824.67
PAK Pacific American Hld 9 4 100 5 0.024 $ 7,646,037.60
SKY SKY Metals 9 -10 37 85 0.185 $ 46,863,467.32
KWR Kingwest Resources 9 6 19 36 0.185 $ 28,433,363.73
AGC AGC 9 0 0 0 0.19 $ 12,529,547.54
CLA Celsius Resource 9 -11 168 325 0.051 $ 38,230,685.97
AAJ Aruma Resources 8 -14 0 100 0.09 $ 9,748,405.28
GTR Gti Resources 8 18 -4 225 0.026 $ 16,112,949.95
BRV Big River Gold 8 2 41 206 0.052 $ 77,260,755.78
MML Medusa Mining 8 9 -5 13 0.865 $ 185,007,237.89
SLZ Sultan Resources 8 -15 11 223 0.2 $ 13,906,877.80
RDS Redstone Resources 8 0 -13 75 0.014 $ 7,411,820.22
CTO Citigold Corp 8 0 0 180 0.014 $ 35,368,751.72
MTH Mithril Resources 7 0 -8 156 0.023 $ 50,089,803.50
MZZ Matador Mining 7 -17 -26 33 0.32 $ 56,371,031.97
AQX Alice Queen 6 3 -15 27 0.033 $ 37,113,161.35
GSN Great Southern 6 1 -42 56 0.084 $ 39,131,756.12
AUC Ausgold Limited 6 4 46 209 0.051 $ 65,017,477.05
SPQ Superior Resources 6 31 89 202 0.017 $ 23,410,250.49
AAU Antilles Gold 6 47 110 151 0.088 $ 16,196,756.87
THR Thor Mining PLC 6 13 125 157 0.018 $ 8,137,385.64
TRM Truscott Mining Corp 6 6 6 138 0.019 $ 2,430,889.34
BRB Breaker Res NL 5 -5 -22 -18 0.2 $ 68,426,595.09
GMR Golden Rim Resources 5 0 -25 17 0.0105 $ 21,085,456.15
HRZ Horizon 5 0 -18 5 0.115 $ 68,157,024.00
WWI West Wits Mining 4 -10 255 446 0.071 $ 86,758,902.20
AXE Archer Materials 4 58 110 239 0.83 $ 169,227,409.50
SRN Surefire Rescs NL 4 -8 243 1100 0.024 $ 23,427,349.80
ARN Aldoro Resources 4 43 100 79 0.25 $ 15,520,584.69
CMM Capricorn Metals 4 -8 -16 39 1.72 $ 572,718,053.66
HRN Horizon Gold 4 6 -4 214 0.53 $ 46,533,335.91
MHC Manhattan Corp 4 0 -13 440 0.027 $ 35,809,524.71
ADN Andromeda Metals 4 -8 496 536 0.28 $ 581,236,513.29
BGL Bellevue Gold 4 -11 -2 120 1.04 $ 863,965,435.10
KAI Kairos Minerals 3 -18 -16 453 0.031 $ 50,269,959.51
MEI Meteoric Resources 3 -11 60 213 0.072 $ 94,643,390.81
FML Focus Minerals 3 -8 -14 46 0.365 $ 67,616,969.05
SSR SSR Mining Inc. 3 -16 0 0 22 $ 386,465,710.42
MGV Musgrave Minerals 3 -3 -49 307 0.37 $ 197,292,491.13
E2M E2 Metals 3 -1 214 214 0.565 $ 83,060,415.33
FFX Firefinch 3 3 23 121 0.19 $ 148,562,611.39
EVN Evolution Mining 3 -11 -21 23 4.67 $ 7,911,128,603.55
CHZ Chesser Resources 3 -18 -9 95 0.205 $ 96,930,734.38
PDI Predictive Disc 2 4 -17 627 0.0645 $ 66,106,422.33
GMN Gold Mountain 2 2 -12 -35 0.044 $ 33,469,309.08
HMX Hammer Metals 2 151 105 319 0.088 $ 64,507,464.11
CAI Calidus Resources 2 -10 -21 73 0.45 $ 157,485,762.84
RRL Regis Resources 2 -7 -38 -18 3.61 $ 1,807,455,588.87
VMC Venus Metals Cor 2 12 -6 34 0.235 $ 36,258,883.92
MEU Marmota Limited 2 2 -8 20 0.048 $ 45,521,083.43
GRL Godolphin Resources 2 0 2 26 0.24 $ 20,601,119.25
EMU EMU NL 2 21 113 28 0.051 $ 18,176,677.24
EMR Emerald Res NL 2 -9 33 81 0.815 $ 422,625,709.74
SBM St Barbara Limited 2 -10 -36 -19 2.22 $ 1,544,734,269.66
CDV Cardinal Reso 1 0 50 179 1.08 $ 595,926,904.68
RSG Resolute Mining 1 -17 -49 -37 0.695 $ 767,205,430.67
GOR Gold Road Res 1 -16 -36 -20 1.19 $ 1,029,511,955.16
SBR Sabre Resources 0 -20 129 300 0.008 $ 13,464,509.19
RED Red 5 Limited 0 -20 -17 -27 0.215 $ 423,745,296.76
AWV Anova Metals 0 -14 -33 203 0.024 $ 34,394,260.80
GSM Golden State Mining 0 -28 -58 88 0.145 $ 8,778,611.00
TSO Tesoro Resources 0 -17 39 515 0.25 $ 127,378,623.83
RML Resolution Minerals 0 -13 -54 -43 0.033 $ 9,651,591.11
MSR Manas Res 0 -14 20 200 0.006 $ 16,561,641.59
LEX Lefroy Exploration 0 -13 -32 8 0.2 $ 24,001,933.40
TTM Titan Minerals 0 0 -21 -12 0.115 $ 131,037,029.91
NUS Nusantara Resources 0 -7 -19 -16 0.27 $ 61,903,711.89
MEG Megado 0 -7 0 0 0.19 $ 7,704,271.62
G88 Golden Mile Res 0 -18 -22 -10 0.045 $ 5,412,806.43
KSN Kingston Resources 0 -6 9 39 0.23 $ 70,890,486.50
XTC Xantippe Res 0 0 -20 0 0.002 $ 8,149,128.80
KGM Kalnorth Gold 0 0 30 225 0.013 $ 11,625,120.78
ALY Alchemy Resource 0 0 8 67 0.018 $ 12,100,382.15
CY5 Cygnus Gold Limited 0 0 13 260 0.18 $ 19,452,617.64
CAZ Cazaly Resources 0 -10 23 87 0.043 $ 15,149,117.21
NPM Newpeak Metals 0 17 75 40 0.0035 $ 14,004,487.53
NML Navarre Minerals 0 -21 32 72 0.165 $ 87,222,744.16
GML Gateway Mining 0 -14 55 107 0.031 $ 59,093,472.12
BAR Barra Resources 0 -8 4 14 0.024 $ 16,262,594.42
TAR Taruga Minerals 0 -9 0 243 0.048 $ 21,945,672.29
OAU Ora Gold Limited 0 -4 28 10 0.023 $ 18,498,594.88
GBZ GBM Rsources 0 -11 14 90 0.125 $ 56,292,347.80
TSC Twenty Seven Co. 0 9 20 -25 0.006 $ 12,757,925.28
SAU Southern Gold 0 -9 -35 -38 0.1 $ 20,692,889.33
MAU Magnetic Resources 0 20 -1 141 1.4 $ 291,831,358.95
FFR Firefly Resources 0 -22 107 249 0.145 $ 41,970,534.48
PUA Peak Minerals 0 -17 19 162 0.025 $ 15,982,268.95
DDD 3D Resources Limited 0 25 25 67 0.005 $ 18,076,860.46
CHN Chalice Mining 0 -6 280 1290 4.03 $ 1,343,368,709.07
WAF West African Res -1 -18 -17 95 0.895 $ 796,305,937.02
WGX Westgold Resources. -1 -15 -2 8 2.29 $ 962,151,462.90
STN Saturn Metals -1 -30 -49 -2 0.445 $ 46,639,739.30
KRM Kingsrose Mining -1 20 20 44 0.0445 $ 32,850,330.84
NWM Norwest Minerals -1 -3 -19 -19 0.089 $ 9,686,775.93
RMS Ramelius Resources -1 -18 -31 8 1.46 $ 1,180,325,035.70
AMI Aurelia Metals -1 -8 -26 -3 0.4 $ 493,730,610.00
PRU Perseus Mining -1 -13 -23 1 1.16 $ 1,447,219,106.60
ERM Emmerson Resources -1 -13 -30 -13 0.07 $ 34,765,478.93
KTA Krakatoa Resources -1 -12 -21 106 0.066 $ 19,526,500.00
NCM Newcrest Mining -2 -8 -30 -15 24.93 $ 20,291,429,869.90
SLR Silver Lake Resource -2 -19 -38 -6 1.54 $ 1,353,218,108.53
SVY Stavely Minerals -2 -11 21 3 0.71 $ 190,501,859.96
A1G African Gold . -2 -11 48 57 0.235 $ 12,081,452.88
DCN Dacian Gold -2 1 33 -45 0.465 $ 258,776,477.61
NSM Northstaw -2 0 0 0 0.46 $ 17,400,000.00
TBR Tribune Res -2 -3 -21 24 6 $ 317,431,865.85
SAR Saracen Mineral -2 -7 -23 18 4.69 $ 5,265,564,163.30
ALK Alkane Resources -2 -18 -30 -2 0.8 $ 482,264,928.00
MTC Metalstech -3 -7 -25 258 0.19 $ 27,847,851.22
S2R S2 Resources -3 -16 42 85 0.185 $ 58,254,868.12
GIB Gibb River Diamonds -3 -15 29 71 0.072 $ 15,440,189.49
BCN Beacon Minerals -3 -3 -3 3 0.036 $ 106,309,612.75
AGG AngloGold Ashanti -3 -2 -36 0 5.91 $ 543,275,288.85
LCY Legacy Iron Ore -3 -33 500 1900 0.03 $ 181,169,916.99
OBM Ora Banda Mining -3 -6 -15 68 0.3 $ 261,088,806.67
TRY Troy Resources -3 -14 -7 -10 0.084 $ 62,877,792.74
BDC Bardoc Gold -3 -12 5 4 0.083 $ 144,018,062.21
MDI Middle Island Res -4 -33 -51 193 0.27 $ 33,463,112.65
KZR Kalamazoo Resources -4 -12 -18 -17 0.535 $ 70,708,374.36
DEG De Grey Mining -4 -18 14 1867 0.905 $ 1,192,484,156.43
BNZ Benzmining -4 10 0 0 1.22 $ 19,904,446.80
CYL Catalyst Metals -4 0 -18 -24 2.13 $ 209,068,847.22
DAU Dampier Gold -4 -11 38 114 0.047 $ 16,075,986.46
RGL Riversgold -4 -13 -16 411 0.046 $ 18,204,391.49
ARV Artemis Resources -4 -4 29 311 0.115 $ 125,044,074.87
WMX Wiluna Mining Corp -5 -6 2 21 1.34 $ 155,556,806.74
AL8 Alderan Resource -5 -17 -38 456 0.1 $ 28,900,285.92
HAW Hawthorn Resources -5 -20 -9 71 0.1 $ 33,351,561.30
VKA Viking Mines -5 22 309 350 0.039 $ 41,866,776.72
OKR Okapi Resources -5 -5 -5 153 0.19 $ 8,994,015.00
RND Rand Mining -5 1 -24 -11 1.8 $ 108,267,255.00
GUL Gullewa Limited -5 -33 -8 181 0.087 $ 16,413,579.00
M2R Miramar -6 -15 0 0 0.255 $ 10,768,017.60
SMI Santana Minerals -6 3 -21 -21 0.165 $ 18,815,384.94
YRL Yandal Resources -6 -16 34 84 0.39 $ 36,441,080.13
NST Northern Star -6 -10 -24 -9 11.96 $ 8,987,871,158.49
SNG Siren Gold -6 -15 0 0 0.6 $ 37,010,704.70
RMX Red Mount Min -6 36 114 200 0.015 $ 17,518,514.85
PNR Pantoro Limited -6 -2 -14 122 0.22 $ 316,889,601.30
BC8 Black Cat Syndicate -6 1 -13 97 0.72 $ 81,668,373.58
KCN Kingsgate Consolid. -7 -8 67 64 0.9 $ 204,734,475.70
PRX Prodigy Gold NL -7 -16 -42 -39 0.041 $ 23,805,731.85
AMG Ausmex Mining Gp -7 35 100 10 0.066 $ 36,840,633.80
BNR Bulletin Res -7 0 5 243 0.079 $ 14,164,152.85
NAE New Age Exploration -7 8 30 333 0.013 $ 15,431,395.33
GNM Great Northern -7 8 -46 63 0.013 $ 10,895,035.25
NVA Nova Minerals -7 -10 215 314 0.16 $ 258,841,730.29
DGO DGO Gold Limited -7 -8 -12 193 2.64 $ 198,589,719.60
RDN Raiden Resources -7 -26 213 317 0.025 $ 20,734,924.34
AAR Anglo Australian -7 -14 -32 14 0.125 $ 73,626,048.00
OKU Oklo Resources -8 -18 -39 -20 0.18 $ 90,725,366.16
BBX BBX Minerals -8 0 61 132 0.29 $ 128,047,953.41
GWR GWR Group -8 -23 386 331 0.345 $ 99,565,115.76
TLM Talisman Mining -8 -5 -37 8 0.092 $ 17,729,696.58
RVR Red River Resources -8 -28 92 130 0.23 $ 119,088,104.41
PNM Pacific Nickel Mines -8 14 -5 -43 0.057 $ 8,537,151.52
PRS Prospech Limited -8 -15 0 0 0.17 $ 11,053,500.13
MOH Moho Resources -8 -15 -51 84 0.079 $ 7,494,653.52
VAN Vango Mining -8 -8 -46 -52 0.067 $ 71,298,238.27
AVW Avira Resources -8 -31 10 175 0.055 $ 8,250,240.00
DTM Dart Mining NL -8 -13 -33 127 0.165 $ 16,491,003.54
CXU Cauldron Energy -8 2 57 214 0.044 $ 19,887,978.53
AZS Azure Minerals -8 -17 219 281 0.495 $ 152,502,431.90
REZ Resourc & En Grp -9 -17 105 187 0.043 $ 18,130,593.14
CWX Carawine Resources -9 -12 13 10 0.215 $ 23,411,328.93
CBY Canterbury Resources -9 -9 -29 -47 0.096 $ 8,449,439.52
NXM Nexus Minerals -9 -22 46 150 0.105 $ 28,077,442.17
MKG Mako Gold -9 -5 -13 38 0.105 $ 27,010,368.21
AGS Alliance Resources -9 -14 -13 52 0.155 $ 34,322,827.11
MAT Matsa Resources -9 -5 -33 -23 0.1 $ 26,843,524.19
LCL Los Cerros Limited -9 20 105 213 0.15 $ 70,316,928.30
KAU Kaiser Reef -9 7 28 0 0.44 $ 42,595,675.76
PKO Peako Limited -9 21 83 83 0.029 $ 5,569,571.13
CST Castile Resources -10 -38 -27 0 0.18 $ 34,949,271.18
GBR Greatbould Resources -11 -18 -13 25 0.042 $ 7,898,510.34
TIE Tietto Minerals -11 4 -35 48 0.4 $ 181,974,182.40
MRZ Mont Royal Resources -11 -13 4 12 0.24 $ 7,638,500.10
HXG Hexagon Energy -12 105 80 145 0.115 $ 34,638,612.61
ARL Ardea Resources -12 2 -20 -3 0.45 $ 56,175,056.08
CGN Crater Gold Min -12 47 120 100 0.022 $ 29,459,900.81
ADV Ardiden -12 22 83 529 0.022 $ 47,147,361.45
STK Strickland Metals -12 -12 -5 80 0.036 $ 15,582,606.28
LNY Laneway Res -13 0 -22 40 0.007 $ 26,425,461.53
WCN White Cliff Min -13 -22 133 425 0.021 $ 11,376,966.68
ONX Orminex -13 44 -15 -45 0.039 $ 21,040,805.21
SI6 SI6 Metals Limited -14 -47 171 533 0.019 $ 26,429,013.30
ZNC Zenith Minerals -14 -4 9 131 0.125 $ 36,795,003.75
PUR Pursuit Minerals -14 48 66 566 0.031 $ 21,331,635.07
MVL Marvel Gold Limited -15 -23 -27 -49 0.04 $ 21,363,050.44
ENR Encounter Resources -15 -20 -3 40 0.14 $ 44,178,918.42
BAT Battery Minerals -15 40 211 300 0.028 $ 59,196,932.69
BYH Bryah Resources -15 -14 3 46 0.06 $ 9,673,052.00
VRC Volt Resources -16 60 -6 45 0.016 $ 41,093,733.92
SIH Sihayo Gold Limited -18 -18 -44 -3 0.014 $ 55,281,921.20
AUT Auteco Minerals -19 5 -37 400 0.11 $ 180,225,577.64
HWK Hawkstone Mng -19 340 175 633 0.044 $ 71,970,345.86
CDT Castle Minerals -20 -20 -33 0 0.008 $ 6,592,507.36
DTR Dateline Resources -20 0 0 0 0.002 $ 16,420,156.15
AME Alto Metals Limited -21 -23 -10 133 0.077 $ 33,577,537.60
AYM Australia United Min -33 25 233 150 0.01 $ 20,268,352.34
ANL Amani Gold -33 0 -33 -60 0.001 $ 9,386,996.75

WEEKLY WINNERS

NELSON RESOURCES (ASX:NES)

(Up on no news)

WA explorer Nelson hit the golden motherlode near Kalgoorlie?

A first ever diamond drilling program at the Woodline project’s Redmill, Grindall and Socrates prospects is due for completion this month.

“Work carried out by Nelson at Socrates has returned several significant gold intersections, suggestive of a large gold system,” Nelson said in January.

“The company believes that Grindall, Redmill, and Harvey each have the potential to host a Tropicana scale gold deposit.”

 

THOMSON RESOURCES (ASX:TMZ)

Thomson is close to wrapping up its acquisition of the previously producing Webbs and Conrad silver projects in NSW.

The high-grade Webbs deposit produced ~55,000t of ore grading at least 23oz (about 710 grams per tonne) silver between 1884 to 1901.

Conrad was historically one of the largest silver mines in the New England region, producing about 3.5moz of silver along with lead and tin.

 

GOLDEN DEEPS (ASX:GED)

The explorer’s shares rose after it announced new high-grade copper-silver targets had been identified at its Khusib Springs mine in the southern African country of Namibia.

The project was a copper-silver mine from which 300,000 tonnes of ore grading 10 per cent copper, 1.8 per cent lead and 584 g/t silver was mined up until 2003.

A study identified remnant zones of copper-silver mineralisation on the margins of mined slopes as well as at depth, it said.

 

METALICITY (ASX:MCT)

The first hole at the high-priority Cosmopolitan prospect has intersected visible gold:

metalicity cosmopolitan visible gold
Visible gold at the Cosmopolitan target. Pic: Supplied

Cosmopolitan had produced about 360,000oz of gold at an average grade of nearly 15g/t – well above the 5g/t that is generally considered to be high-grade – between 1896 and 1922.

Managing director Jason Livingstone says visible gold is always exciting when drilling and is a “phenomenal” way to start the year’s exploration, though he cautioned that assays would be needed to really quantify the actual gold content.