Precious metals have been outstanding performers this year, with gold and silver rallying 39.16% and 42.17% respectively. Naturally, this has been a significant boost for the sector, as Sprott Gold Miners ETF (NYSE:SGDM) doubled, rising 98% year-to-date.
Still, there are opportunities within the sector. Although a rising tide lifts all the boats, it does not lift them equally. Many junior firms are yet to stake their biggest discoveries, and with current metal prices, the upside could be considerable.
While there are many ways to evaluate a junior mining firm, seasoned investors like Rick Rule and Michael Gentile prefer companies with strong management and a lucrative deposit in a good jurisdiction. As mining legend Robert McEwen told Benzinga last year, high insider ownership is also a good indication.
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With precious metals momentum still intact, here are three junior firms on our watchlist with the potential to catch up with the mining frenzy.
Silver One Resources Inc. (OTC:SLVRF)
Silver One Resources’ flagship is the Candelaria silver project in Nevada, a past-producer that yielded 68 million oz of silver historically under Kinross ownership.
According to the data from May, combined pits measured and indicated resources show 66.7 million oz silver and 141,400 oz gold, with an additional 6.46 million oz silver and 17,000 oz gold. Silver One has also undertaken heap leach metallurgical testing showing favorable recoveries, key to restarting operations.
The latest financials show $1.6 million in cash and no long-term debt, giving runway for drilling and technical studies. A recent round of financing totalled $5 million in proceeds.
Beyond Candelaria, the company has holdings in Arizona and Mexico, providing pipeline value. Management, led by CEO Greg Crowe, includes veterans with multiple mine-build successes. Insider ownership is robust at 15.5%, showing confidence in advancing Candelaria toward development. Eric Sprott, one of the leading natural resource investors, is the largest shareholder, owning 13% of the firm.
Leviathan Gold Ltd. (OTC:LVXN) (OTC:LVXFF)
Leviathan Gold is focused on historic Victorian goldfields in Australia, particularly the Avoca and Timor projects covering ground that produced more than 1 million oz of gold in the late 1800s. These projects span ~250 km² in the high-grade Golden Triangle of Victoria, one of the most prolific orogenic gold camps globally. The firm also has an exploration license in Foča (eastern Bosnia and Herzegovina), where it explores for silver, lead, and zinc and it has shown intent to acquire a lucrative exploration asset in Botswana.
Financials show $1 million in cash and no long-term debt, indicating a need for financing within the next 12 months. Dilution is a real risk, as data suggests that total shares outstanding grew by 208% in the last year.
Still, CEO Luke Norman and the technical team have decades of experience in Australian exploration and mining finance. Interestingly, Norman is also the third-largest investor in Silver One Resources, holding 1.38% of the company.
Management and directors own 14.7% of Leviathan’s stock. The near-term catalyst remains further drilling and an initial resource estimate for Avoca/Timor.
Astra Exploration Inc. (OTC:ATEPF)
Astra Exploration is advancing the Pampa Paciencia and Cerro Bayo gold-silver projects in northern Chile’s Paleocene and Maricunga belts, an area with multiple multi-million-ounce discoveries.
Recent drilling highlights include 16.3m @2.3g/t Au, 18.73 g/t Ag, including 3.75m @ 7.71g/t Au, 46.58 g/t Ag, supporting both grade and tonnage potential. Metallurgical testing confirms good recoveries via conventional methods.
Furthermore, the firm is exploring the La Manchuria deposit in Argentina, within the Deseado Massif – one of the most prolific epithermal gold-silver regions in the world. Inaugural drill program showed up to 199.3g/t gold and 8,356g/t silver near surface.
On the balance sheet, Astra reported $2 million in cash and no long-term debt. This positions them well for ongoing exploration through 2026. The team is led by CEO Brian Miller, with geologists experienced in Chile and Latin America. Importantly, insiders collectively own 28% of the shares. Michael Gentile is the largest individual shareholder, owing as much as 18.1% of the company.
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