The spectacular surge in silver has triggered a multi-million dollar paper windfall for investors in a newly listed mining company, BMC Minerals, which timed its market debut perfectly.
ASX Debut Coincides with Metal's Record Run
BMC Minerals, which joined the Australian Securities Exchange on December 12, has seen its share price rocket by 73 per cent in just over a month. The stock added another 10 per cent in early trade on Thursday, January 15, 2026, hitting a record high of $3.47.
This remarkable run has boosted the company's market capitalisation by a staggering $250 million, taking its total value to $589 million. The gains are directly linked to a parallel boom in the precious metal it aims to produce.
Project and Backing Behind the Boom
The Vancouver-headquartered miner is advancing plans to develop the Kudz Ze Kayah (KZK) polymetallic deposit in Canada's remote Yukon territory. If developed, it could become the country's biggest silver and zinc mine, with a potential production start date of 2029.
BMC is majority-owned by a UK company controlled by the former executive team of ASX-listed miner Jabiru Metals: Scott Donaldson, Gary Comb, and Neil Martin. It is also backed by Melbourne's Victor Smorgon Group family office and a Barclays resources fund managed by Global Natural Resources Investments.
The company acquired the project from Teck Resources in 2015 and has since invested over $US150 million into it. This work has de-risked the asset and significantly grown the estimated mineral resource from 12.8 million tonnes to 27.9 million tonnes.
Silver's Stellar Rally Fuels Investor Frenzy
The timing of BMC's initial public offer and subsequent listing has been impeccable. The price of silver was around $US49 an ounce when the IPO launched in mid-November. By Wednesday, it had skyrocketed to a record $US91.55 per ounce.
Precious metals are enjoying a blistering rally in 2026, building on dramatic gains from the previous year. The rally is driven by ongoing geopolitical tensions and market anxiety, including worries about US Federal Reserve independence.
Silver outperformed gold last year, climbing 15 per cent due to a major short squeeze in October, persistent tightness in supply, and intense speculative buying. BMC estimates that over an initial nine-year mine life, KZK could produce 32 million ounces of silver equivalent annually at a cost of approximately $US12 per ounce.
