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Broken Hill Mines (ASX:BHM) has continued its stellar +960% YTD run on Monday (of Week 40!) with a slew of new hits for silver equivalent (including zinc and lead), with a promise of first ore in November 2025 also helping build investor conviction.
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One thousand metres were sunk in an existing underground development tapping away at the main lode of the project (as it currently stands), as well as satellite targets. The company broke down results as follows:
While these results are those the company has cherry-picked to legitimise its claims of high-grade mineralisation, they do underscore evidence that the geotechs have, in fact, had their suspicions confirmed: There’s still silver in those hills. (And lead, and zinc, if you’re interested in that kind of thing, also had good grades.)
Why this matters more than anything else is that silver prices are near record levels as they ultimately track the price of gold, having the second most intense year-by-year upward surge on record. Gold pops, and so silver pops – it’s as simple as that, as long as you’re just trading (and not coming up with shipping contracts), and it doesn’t look like gold is going to relent in the current global climate.
That, in turn, is why investors pushed the price back up to 75cps, a +10.2% gain in the second hour of trades, now up +30% over the last month.
BHM last traded at 74cps.
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