Buckle up for the new precious metals era: Barrick Mining, Silver North Resources, and First Majestic Silver in focus

Barrick Mining – Leadership change, gold price, and strategic decisions

In September 2025, Barrick Mining has come into sharp focus on the commodity markets. The trigger is the surprising departure of CEO Mark Bristow after nearly seven years at the helm. Mark Hill, a seasoned long-time executive, has stepped in as interim CEO. Observers attribute the leadership change mainly to rising operational challenges, particularly the problematic situation in Mali. Analysts now anticipate strategic course corrections that could include a stronger emphasis on more stable regions such as North America.

Despite a decline in production in the second quarter, Barrick is benefiting massively from the historic high in the price of gold. With the price above USD 3,800 per ounce, the Company has managed to increase its revenue and net profit significantly. Management remains undeterred in its optimistic annual forecast and expects main production to take place in the second half of the year. These robust financial results, despite operational obstacles, underscore the Company's current profitability.

Barrick is strategically repositioning itself. The sale of the Hemlo mine in Canada on attractive terms highlights the disciplined focus on the world's best deposits. At the same time, the Fourmile project in Nevada stands out as a potential game changer that could reduce production costs in the long term. For investors, Barrick therefore remains a direct bet on the gold boom, whose success now depends largely on the new management's ability to manage geopolitical risks and realize the promising project pipeline. Since its high of USD 36.10, the stock is currently retreating and trading at USD 32.77.

Silver North Resources – In the midst of a drilling program

While the price of silver is soaring, Silver North Resources in the Yukon is making headlines with its operations. The exploration company is currently aggressively advancing its flagship Haldane project in the legendary Keno Hill District. A 10-hole drilling program is in full swing, with the clear goal of expanding last year's promising Main Fault discovery. The results so far are impressive. Drills have already intersected high-grade silver veins, including a 28-meter-thick section. Current drilling is now strategically focused on testing both the depth and strike length of this mineralized structure.

In parallel, the team recently completed the first exploration campaign on the Veronica project in the Silvertip area. This target is considered extremely interesting as the geological features are similar to the high-grade Silvertip mine, located only 16 km to the south. Initial field work has already identified galena in rock samples, which is a strong indication of the presence of a Carbonate Replacement Deposit (CRD) system. The soil and rock samples collected have been sent to the lab, and the results are eagerly awaited. They will be crucial in assessing the potential of this newly evaluated anomaly.

The activities are backed by solid financing. The Company recently raised fresh capital, allowing exploration efforts to continue without delay. This provides investors with a clear timeline for potential price-moving news. Veronica's lab results and ongoing updates from the current drilling program at Haldane are expected later this fall. This combination of active exploration in established districts and seamless news flow makes Silver North an exciting bet in the silver exploration sector. The stock is currently trading at CAD 0.31.

First Majestic Silver - Operational strength and strategic growth

First Majestic Silver's latest quarterly figures are impressive. The Canadian mining operator not only reported record production but also an impressive financial recovery. Pure silver production jumped 76% year-on-year to 3.7 million ounces, while revenue climbed 94% to USD 264 million. After previous losses, a net profit of USD 56.6 million was now achieved. This operational momentum is largely driven by the recently integrated Los Gatos mine, which has sustainably strengthened the production base.

The solid operational performance is directly reflected in a robust balance sheet. Adjusted EBITDA nearly tripled to USD 120 million. Even more remarkable is the free cash flow of USD 77.9 million generated, which provides scope for investments and dividends. Cash and cash equivalents amount to over USD 510 million, giving the Company a solid basis for its growth ambitions without external capital raising. At the same time, direct mining costs per ounce were reduced slightly.

Future investments are being channeled intensively into exploration. Recent drilling results at the key San Dimas and Los Gatos mines confirm the considerable potential of the existing deposits. At San Dimas, high-grade silver and gold veins have been encountered in new zones such as Coronado. At Los Gatos, drilling in the Southeast Deeps indicates significant extensions of the silver and base metal deposits. These strategic successes underscore the potential for further mine life extension and long-term growth. The stock is currently trading at USD 12.29.

The new precious metals era offers massive opportunities, but presents different challenges for the players involved. As the industry leader under new management, Barrick Mining must manage geopolitical risks and realize its project pipeline. Silver North Resources is making headlines with its drilling program in the Yukon and remains an exciting bet on exploration success. First Majestic Silver, on the other hand, impresses with its operational strength, massive production increases, and a robust balance sheet that enables sustainable growth.