Metallic Minerals is a Canadian-based silver explorer with its main project Keno Silver in the mine-friendly Yukon, located in close proximity to Alexco Resources' silver mine. Keno Hill is one of the world's highest grade deposits with silver grades up to 5,000 g/t.
Not only the experienced management around Greg Johnson seems to be convinced of this, but also major investors such as Eric Sprott, who now holds a 13% stake in the company. An initial mineral resource estimate for Keno Silver is being targeted in the near future, and Alexco Resources should also be interested in this. Their mine life is currently estimated at only 8 years. Yukon connoisseurs go even further and believe that the whole district will one day be bought up by a major player - as has already happened in the gold sector. Of course Metallic is well positioned and wants to increase its goodwill as soon as possible. To this end, a capital increase of CAD 8 million was successfully completed in July 2020 to expand the current drilling program with an additional drill rig. According to analysts, Metallic is among the best silver explorers in politically stable regions. In addition to its silver projects, Metallic has also been able to develop a lucrative gold royalty business in Alaska in recent years. The claims in the rich Klondike Gold District have already been partially awarded to several private, professional gold producers. From the mining of alluvial gold, a percentage of the proceeds flows into the coffers of Metallic Minerals.