Top Picks Maintain Momentum: Potash Junior Leads Weekly Gains

Southern Silver Exploration Corp. (SSVFF, SSV.V)

PR Title: Closes $15M bought deal financing (QP Robert Macdonald, MSc. P.Geo., VP Exploration of SSV)

Analyst Opinion: Positive – Proceeds will be used to advance SSV’s flagship Cerro Las Minitas (CLM) project, located in Durango, Mexico. After a brief pause, we will be resuming coverage on SSV in the coming weeks with a detailed valuation report. With 303 Moz AgEq in resources, CLM ranks among the largest undeveloped silver projects in the world. Silver accounts for approximately 50% of the resource, followed by zinc and lead at 40%, with the remainder in copper and gold. The company is planning a 25,000 m drill program aimed at potentially expanding the resource by 10%–20%. A 2024 Preliminary Economic Assessment (PEA) returned an after-tax NPV5% of US$931M, based on underground operations over a 17-year mine life, using US$32/oz silver vs the current spot price of US$38/oz. SSV’s current MCAP is just US$61M, suggesting the market is significantly overlooking the true potential of CLM. With gold and silver trading near record highs, we anticipate increased M&A activity over the next 12 months as larger companies target juniors to expand their portfolios.

Pulsar Helium Inc. (PLSR.V, PSRHF)

PR Title: Raises $7M through an equity financing in the U.K.

Analyst Opinion: Positive – Proceeds will be directed toward a 10-well drill program at the company’s flagship Topaz helium project in Minnesota. Pulsar recently deepened its first well from 671 m to 1,550 m, with testing returning flow rates three times higher than those previously reported, demonstrating strong reservoir performance. This equity financing follows a US$12.5M debt financing offer from Michigan-based University Bank. The Bank, which holds a 5% equity stake in PLSR, had also previously provided a US$4M line of credit to the company. The Topaz project hosts a high-grade helium resource. We expect an updated resource estimate, and a Preliminary Economic Assessment (PEA) later this year.

NV Gold Corporation (NVGLF, NVX.V)

PR Title: Announces significant drill results at the Slumber gold project in Nevada (QP: Jesse D. Wellman, C.P.G., Independent Consulting Geologist of NV Gold Corp.)

Analyst Opinion: Positive – Three of five step-out holes returned significant gold intercepts, including 28.95 m grading 0.43 g/t Au, with higher-grade intervals of 3.0 m at 1.09 g/t, 1.5 m at 0.67 g/t, and 3.0 m at 0.62 g/t. The Slumber project, located 35 km from Paramount Gold’s (BYSE: PZG) Sleeper deposit in Humboldt County, is prospective for epithermal gold mineralization. NVX controls a portfolio of more than 15 gold exploration projects in Nevada, with Slumber, Triple T, and SW Pipe representing its primary exploration focus.

West High Yield (W.H.Y.) Resources Ltd. (WHYRF, WHY.V)

PR Title: Record Ridge cleared for permitting (QP: Rick Walker, B.Sc., M.Sc., P.Geo., WHY’s Geologist)

Analyst Opinion: Positive – WHY has secured a Final Designation Decision from the B.C. Environmental Assessment Office confirming its project does not require a full Environmental Assessment. This decision allows the company to move forward toward final permitting. Record Ridge hosts a large/high-grade magnesium deposit. Magnesium is classified as a critical mineral in North America and the EU. A 2022 PFS returned an AT-NPV5% of US$500M+ at current spot prices. WHY’s MCAP is just US$34M.