ASX Silver Share BROKEN HILL MINES LIMITED (ASX: BHM) is 91 cents on Thursday, down 6.19%.
Broken Hill Mines used to be Colaba Metals, a company that first started trading on the ASX in 2022.
The company applied for and was granted suspension in August last year under a material acquisition and re-compliance transaction.
After completing the reverse acquisition and capital increase, Broken Hill Mines shares began trading on July 21, opening at 41.5 cents.
If you had put just £3,000 into this ASX small cap silver share, your shareholding would be worth £6,577 today.
Let’s find out more about why this stock has skyrocketed in recent months.
Why is it fire on the ASX silver share?
The acquisition of Reverse fundamentally changed the nature of the company, with new assets giving it more investment appeal.
At the same time, silver prices have more than doubled to record highs this year. Today, silver is priced at US$58 per ounce.
Broken Hill Mines has two historic silver, lead and zinc mines.
It owns 100% of the rasp and 70% of the pins, and is further developing both.
The Company believes RASP is the world’s largest silver, lead, and zinc deposit with a Mineral Resource Estimate (MRE) of 10.1mt at 9.4% ZNEQ (5.7% Zn, 3.2% PB, and 49G/T AG).
The mine is currently operational and producing approximately 30,000 tonnes of silver-lead-zinc ore per month.
The on-site concentration can process 750,000 dry metric tons of silver-lead-zinc ore annually.
Pincles was put under maintenance and upkeep in 2020 due to the pandemic and still doesn’t work.
However, ongoing drilling is designed to increase the MRE, which is currently 6MT at 10.9% ZNEQ (4.7% Zn, 3.3% PB, and 132g/T AG).
Research targets 2%-4% Zn, 3%-6% PB, and 40-125g/T AG up to 15mt.
This year, silver commodity prices have increased due to high demand for silver for defense systems and clean energy technologies.
Billionaire metals investor Eric Spirit said Cutco News In March, the price of silver could go up to US$250-US$500 in the next 10 years.
Last month, the US Geological Survey (USGS) added silver to the list of the nation’s top minerals, demonstrating its growing importance.
The Silver Institute says 2025 has been “a dramatic year for the silver market”.
What is the latest news on Broken Hill Mines?
Today, Broken Hill Mines announced a mining and processing ramp-up at Rasp.
The explorer also released new assay results from mining RASP’s main ore lode, particularly in the Blackwoods zone.
As noted earlier, RASP has a total MRE of 10.1MT at 9.4% ZNEQ (5.7% Zn, 3.2% PB, and 49G/T AG).
To date, the contribution of the Blackwoods zone is 490kt at 18.3% ZNEQ (8.3% Zn, 7.5% PB, and 156G/T AG).
New drill results include 3M’s significant high-grade mineralization at 1,426g/T AGEQ and 37.2M thick intervals at 314G/T AGEQ.
These results fall outside the current MRE for blackwoods, indicating that the total MRE for blackwoods and rusks is likely to increase.
The Ears of the Broken Hill said:
BHM is on target to begin an expanded 17,000 meter drilling program at the Rasp mine in 2026, with a focus on further resource expansion of the main lode ore body.
The company also plans to start the first mining activities at Pincles in 2026.
The miner expects to fully utilize the 750,000 tpa capacity processing plant at Ross next year from its rasp and pincles operations.
