2 ASX Precious Metal Stocks to Shine if Gold and Silver Rally Further
If gold and silver prices continue their upward climb in 2025, investors on the Australian Securities Exchange (ASX) may have two standout names to keep an eye on — Andean Silver Ltd (ASX: ASL) and Sun Silver Limited (ASX: SS1). Both companies are emerging leaders in the precious metals space, offering strong exposure to gold and silver’s bullish momentum through vast resource bases, high-grade discoveries, and ambitious expansion strategies.
Shimmering Potential: Why Precious Metals Spark Interest
Gold and silver have long been considered safe havens during times of economic uncertainty. As inflation pressures, geopolitical tensions, and volatile interest rates dominate headlines, investors are once again turning to these metals for stability and growth.
In 2025, both commodities have enjoyed strong demand — gold prices have surged above US$2,500 per ounce, while silver has rallied past US$32 per ounce for the first time in over a decade. This rally has not only benefited major producers but also reinvigorated interest in ASX-listed explorer-developers that provide leverage to further price gains.
Unlike established miners that have already priced in much of the upside, junior companies like Andean Silver and Sun Silver can deliver outsized returns if metal prices continue to strengthen. Both firms boast significant in-ground resources and are aggressively advancing their flagship projects in mining-friendly jurisdictions.
Andean Silver Ltd (ASX: ASL) — Strong Resource Base, Expanding Footprint
Formerly known as Mitre Mining, Andean Silver Ltd is fast emerging as one of Australia’s most exciting silver-gold exploration stories. The company’s Cerro Bayo project in southern Chile is its crown jewel — a prolific deposit in a region known for producing some of South America’s richest silver veins.
As of FY25, Cerro Bayo hosts a JORC Indicated and Inferred Resource of 9.8 million tonnes at 353g/t AgEq, translating to a massive 111 million ounces of silver equivalent. This makes it one of the largest undeveloped silver-gold systems held by an ASX-listed junior.
What’s more impressive is Andean Silver’s exploration success throughout 2025. The company’s aggressive drilling programs have uncovered multiple new high-grade veins, expanding mineralisation zones and signalling further resource growth. Such exploration momentum is often a key driver of junior mining valuations, and investors have taken notice — ASL’s share price recently touched $1.95.
The company has also shown commendable focus on sustainable development and local partnerships, collaborating with Chilean communities to protect archaeological and environmental sites. This social responsibility enhances its reputation and could smooth the path to future mining approvals.
Financially, Andean Silver reported a net loss of $17.46 million for FY25 — a reflection of heavy exploration and development spending typical for a pre-production stage company.
Key Stats (FY25):
JORC Resource: 111 Moz AgEq
Net loss: $17.46 million
Share price: $1.95 (recent high)
With such a strong resource base and a growing exploration footprint, Andean Silver could become a major name in the silver market if prices keep rallying.
Sun Silver Limited (ASX: SS1) — Giant Resource and Growing Momentum
While Andean Silver is shining in Chile, Sun Silver Limited (ASX: SS1) is drawing investor attention through its Maverick Springs project in Nevada, USA — one of the world’s premier silver-mining regions.
The project’s scale is staggering. Sun Silver controls a JORC Resource of 480 million ounces of silver equivalent, placing it among the largest undeveloped silver projects globally. Its Nevada location also ensures a supportive regulatory environment, solid infrastructure, and easy access to North American capital markets.
In 2025, Sun Silver achieved a major milestone by reporting its best-ever drill intercept — 70 metres outside the existing resource boundary, with grades soaring as high as 10,548g/t silver. This discovery signals enormous expansion potential and could substantially lift the company’s total resource estimate in upcoming updates.
Sun Silver’s growing visibility has also caught the attention of institutional investors. The company was recently added to several major silver ETFs, boosting trading liquidity and exposure among global investors. Moreover, its ongoing process to list on the US OTC market could further enhance accessibility for American investors seeking silver exposure.
From a financial standpoint, the company recorded a net loss of $1.16 million in the first half of 2025, typical for an explorer in the pre-mining stage. However, total assets jumped to $24.82 million, reflecting the growing value of its exploration portfolio. Liabilities also rose modestly, mainly due to expansion-related costs.
Key Stats (2025):
JORC Resource: 480 Moz AgEq
Net loss: $1.16 million (H1 2025)
Best drill intercept: 10,548g/t silver
Assets: $24.82 million
Sun Silver’s enormous resource base, exploration success, and ETF inclusion make it a highly leveraged play on the silver price.
Why These Juniors Could Shine Brightest
If gold and silver prices continue their ascent, both Andean Silver (ASL) and Sun Silver (SS1) are positioned to deliver powerful returns. Their gigantic resource bases, consistent exploration updates, and growing market visibility offer investors pure exposure to the precious metals rally.
In particular:
- Leverage to Metal Prices: Both companies’ valuations are closely tied to gold and silver prices, meaning even moderate metal price increases could result in substantial share price appreciation.
- Resource Expansion Potential: Ongoing drilling at both projects could add millions of ounces to current JORC estimates.
- Institutional Recognition: Sun Silver’s inclusion in major ETFs and Andean Silver’s strategic presence in Chile position them well for future capital inflows.
However, as with all juniors, investors must remain aware of risks such as funding requirements, exploration uncertainty, and commodity price volatility. Yet, for those seeking high-reward exposure to the next phase of the precious metals bull run, ASL and SS1 offer a compelling case.
Final Thoughts
The 2025 rally in gold and silver has already turned heads, but the real upside could lie with emerging explorers that have yet to reach full market recognition. Andean Silver Ltd and Sun Silver Limited embody the characteristics investors look for in a bull market — massive resources, expanding projects, and strong leverage to commodity prices.
If the precious metals rally continues, these two ASX-listed stocks could be among the brightest performers in the months ahead — true silver linings for investors betting on the enduring appeal of gold and silver.
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