GoldBuzz INSIDER Miner Rankings

GoldBuzz INSIDER Miner Rankings - August 28, 2026

As of August 28, 2026

Gold closed at $4,600.52 on Thursday, up 5.1% over the past ten trading days, while silver added 7.1% to reach $69.26 - a solid performance, but both metals are being substantially outpaced by the miners themselves. GDX gained 15.2% over that same window, as did SIL, which tells you the equity side of this trade has been where the real action is. Despite that broad tailwind, outperformance against the benchmarks remains selective: only 30% of gold miners are beating GDX and 31% of silver miners are clearing SIL, which means the rising tide is lifting most boats but the better boats are lifting more. The contrast between groups is the real story today - Gold Majors are producing clean, above-average scores and 60% are outperforming their benchmark, while Royalty Companies sit at just 20% outperformance with an average score pinned at 5.0, the very midpoint of the universe. Gold Juniors and Silver Juniors show similar patterns: both average 4.4 with only 18-19% beating their benchmarks, a reminder that junior-end capital rotation is still concentrated in a narrow slice of names at the top of those groups. Overall, scores are broadly mixed - the top of most groups is strengthening while the bottom is softening, which points to compression from the middle down and widening gaps at the leadership level.

GOLD MAJORS

The leadership shuffle in Gold Majors is the headline this week. AngloGold Ashanti (AU) takes the top spot with a score of 8.7 after a stunning run that saw the stock climb from $95.70 to $118.40, a gain of 23.7% over the past ten trading days - well above GDX's 15.2%. The surge coincides with AngloGold's Q2 2026 results, which showed a 58% jump in headline earnings to $1 billion, and the market's reaction has pushed its relative performance score up nearly a full point. Evolution Mining (CAHPF) tells a similar story, vaulting from #9 to #4 on the back of its FY26 results released August 19 - 715,000 ounces of gold at competitive all-in sustaining costs - with the stock producing the highest edge reading in the group at +0.533%, well above what most of the table is showing. Both are riding genuine fundamental catalysts, not just the gold price.

The fall of Kinross (KGC) is the flip side of that coin. It held the #1 spot coming in and has dropped to #5 after a 1.1-point score decline, the sharpest fall in the group. The stock itself is up 19.2% over ten days, so this isn't a price story - it's a relative story. With a downward trend and a win rate barely above 50%, our signals show KGC has been ceding ground to peers on signal days despite strong absolute returns. Barrick (B) is in a similar spot, sliding from #11 to #16 with a 1.0-point score drop. Even with strong Q2 results that showed 50% year-over-year earnings growth, a price target cut from CIBC and slipping relative price performance have hurt its standing here. Barrick's edge has flipped negative and its win rate sits below 50%, so the model is correctly flagging relative underperformance even in a rising market.

The mid-table has genuine movement too. Buenaventura (BVN) is worth watching at #14 - a strong upward trend and a 1.0-point score gain over 60 days, the biggest upward mover outside the top four. The Peruvian miner's stock has been building steadily to $36.30. Below the midpoint of the table, SSR Mining (SSRM) keeps slipping, down three places to #17 with mid-grade relative performance metrics despite its strong fundamental grade - that divergence between an A-rated fundamental profile and a below-50% win rate is something to monitor.

#	Company	Ticker	Bench	Price	Med.Edge	WinRate	Score	Fund	Trend
1	Anglogold Ashanti Ltd	AU	GDX	118.40	+0.097%	54.2%	8.7	A	++
2	Northern Star Resources Ltd	NESRF	GDX	17.50	+0.076%	51.4%	8.6	A	=
3	Agnico Eagle Mines Ltd	AEM	GDX	215.44	+0.011%	51.0%	8.4	A	+
4	Evolution Mining Ltd	CAHPF	GDX	11.45	+0.533%	55.5%	8.3	B	+
5	Kinross Gold Corp	KGC	GDX	32.51	+0.018%	50.2%	8.2	A	--
6	Newmont Corp	NEM	GDX	132.29	+0.069%	52.2%	8.1	A	=
7	Oceanagold Corp	OGC.TO	GDX	43.62	+0.116%	52.8%	7.9	B	=
8	G Mining Ventures Corp	GMIN.TO	GDX	54.88	+0.172%	51.2%	7.8	A	=
9	DPM Metals	DPM.TO	GDX	67.16	+0.176%	52.4%	7.8	B	=
10	Eldorado Gold Corp	EGO	GDX	48.03	+0.040%	53.0%	7.1	B	=
11	Artemis Gold Inc	ARTG.V	GDX	45.01	+0.036%	50.0%	6.9	B	=
12	Alamos Gold Inc	AGI	GDX	37.88	-0.138%	45.4%	6.9	A	=
13	Ramelius Resources Ltd	RMLRF	GDX	2.69	-0.011%	50.0%	6.9	B	+
14	Buenaventura Mining	BVN	GDX	36.30	+0.025%	51.0%	6.8	B	++
15	Perseus Mining Ltd	PRU.TO	GDX	6.39	+0.027%	50.8%	6.8	B	-
16	Barrick Mining Corp	B	GDX	47.32	-0.017%	49.0%	6.5	B	--
17	SSR Mining Inc	SSRM	GDX	39.01	-0.112%	45.8%	6.2	A	-
18	Gold Fields Ltd	GFI	GDX	48.00	+0.005%	50.2%	5.7	C	+
19	Torex Gold Resources Inc	TXG.TO	GDX	72.53	-0.069%	47.6%	5.2	B	++
20	IAMGOLD Corp	IAG	GDX	21.54	+0.013%	50.2%	4.9	C	--
21	B2Gold Corp	BTG	GDX	5.83	-0.085%	46.6%	4.5	C	=
22	Lundin Gold Inc	LUG.TO	GDX	104.23	-0.170%	43.9%	4.4	B	=
23	Harmony Gold Mining Co.	HMY	GDX	21.03	-0.139%	46.6%	3.6	C	+
24	Sibanye-Stillwater	SBSW	GDX	12.26	-0.186%	47.8%	2.8	D	-
25	Ivanhoe Mines Ltd	IVN.TO	GDX	12.46	-0.138%	47.6%	1.9	E	-

SILVER MAJORS

Coeur Mining (CDE) has now held the top of the Silver Majors table for 191 calendar days, and the position looks secure. At a score of 8.3 with an edge of +0.205% and a win rate of 53.8%, the gap to second place is a meaningful 0.6 points, and CDE's stock has responded to the silver rally - up 18.1% over ten trading days to $22.21. The bigger story in this small group, though, is the reshuffling beneath it.

Hecla Mining (HL) has climbed to #2 with a strong upward trend and a 0.7-point score gain over 60 days, edging past Pan American Silver (PAAS) which has slipped a spot with a softening trend. PAAS still carries strong fundamentals and has moved up 16.2% in price to $54.89, but its edge has gone slightly negative and its win rate at 48.6% puts it just below the SIL benchmark threshold. First Majestic (AG) at #4 is gaining momentum with a positive trend and a 0.6-point score gain. Fresnillo (FRES.L) remains the clear outlier at #5 - an edge of -0.412% and a win rate of 45.2% against SIL puts it structurally behind the group despite strong fundamentals. The stock gained 10.1% in price terms but continues to lose ground to its benchmark on signal days.

#	Company	Ticker	Bench	Price	Med.Edge	WinRate	Score	Fund	Trend
1	Coeur Mining Inc	CDE	SIL	22.21	+0.205%	53.8%	8.3	B	=
2	Hecla Mining Company	HL	SIL	21.43	+0.120%	52.2%	7.7	B	++
3	Pan American Silver Corp	PAAS	SIL	54.89	-0.070%	48.6%	7.6	A	-
4	First Majestic Silver Corp	AG	SIL	21.74	+0.044%	51.4%	7.4	B	+
5	Fresnillo Plc	FRES.L	SIL	3,226.00	-0.412%	45.2%	5.4	A	--
6	Industrias Penoles NPV	IPOAF	SIL	Insufficient data (195 days)				B

ROYALTY COMPANIES

Franco-Nevada (FNV) takes the top spot in Royalties for the first time, edging ahead with a score of 7.2. The position is recent, the gap to Sailfish (FISH.V) at #2 is only 0.3 points, and here's the wrinkle: FNV is technically underperforming GDX by a small margin on price metrics, ranking first because its A-rated fundamentals carry significant weight in the composite score. Sailfish, sitting 1.2 points higher in score than it was 60 days ago, has the better edge reading at +0.385% and is outperforming the benchmark, but its price has actually dropped 10.3% over ten days to $5.65 - this is exactly the kind of fundamental-vs-price divergence the model is built to surface. The score reflects relative outperformance on signal days, not absolute price direction.

The broader picture in Royalties is the most important thing to understand about this group. Only 3 of 15 names are outperforming GDX, and the average score of 5.0 sits right at the universe midpoint. Ten names are trending up, which sounds encouraging, but most of that upward trend pressure is concentrated in names below the midpoint of the table. The bottom half has a striking split in quality - Empress Royalty (EMPR.V) and Nations Royalty (NRC.V) both show improving trends and rising scores but trade at $1.00 and $1.02 respectively with weak fundamental grades, a combination that keeps them anchored near the bottom regardless of trend direction. At the other end of the declining names, Viszla Royalties (VROY.V) has dropped from #3 to #8 with a 0.5-point score decline and a downward trend. Gold Royalty (GROY) and Versamet (VMET.TO) are both losing ground with deteriorating edges, while Wheaton Precious Metals (WPM) at #7 holds a mid-grade composite despite being the largest name in the group by market presence.

#	Company	Ticker	Bench	Price	Med.Edge	WinRate	Score	Fund	Trend
1	Franco-Nevada Corp	FNV	GDX	271.31	-0.040%	49.8%	7.2	A	++
2	Sailfish Royalty Corp	FISH.V	GDX	5.65	+0.385%	52.7%	6.9	C	++
3	Orogen Royalties Inc	OGN.V	GDX	4.95	+0.155%	51.6%	5.9	C	+
4	OR Royalties Ltd	OR	GDX	38.64	-0.035%	48.2%	5.9	B	=
5	Triple Flag Precious Metals Corp	TFPM	GDX	35.02	-0.042%	49.4%	5.8	B	++
6	Metalla Royalty	MTA	GDX	11.03	-0.010%	49.8%	5.6	C	+
7	Wheaton Precious Metals Corp	WPM	GDX	157.99	-0.018%	49.4%	5.5	C	=
8	Viszla Royalties Corp	VROY.V	SIL	4.57	-0.130%	49.2%	5.3	C	-
9	Elemental Royalty Corp	ELE	GDX	22.36	-0.118%	49.0%	5.2	C	++
10	Royal Gold Inc	RGLD	GDX	268.96	-0.130%	46.6%	4.9	B	+
11	Silver Crown Royalties Inc	SLCRF	SIL	24.70	+0.261%	51.4%	4.7	D	++
12	Versamet Royalties Corp	VMET.TO	GDX	14.69	-0.149%	48.4%	3.4	D	-
13	Gold Royalty Corp	GROY	GDX	3.43	-0.187%	46.6%	3.2	D	--
14	Empress Royalty Corp	EMPR.V	GDX	1.00	-0.372%	47.2%	2.8	D	++
15	Nations Royalty Corp	NRC.V	GDX	1.02	-0.193%	45.9%	2.1	D	++
16	Summit Royalties Ltd	SUM.V	GDX	Insufficient data (195 days)				C

GOLD PRODUCERS

Aura Minerals (AUGO) leads at 9.4, holding the top spot for just three days, and the three names above the 9.0 threshold - AUGO, Wesdome (WDO.TO) at 9.3, and Centerra (CGAU) at 9.2 - form a genuine cluster at the summit. The separation between them is narrow. Centerra's win rate of 59.0% is the standout number at the top of this group, while Aura's edge of +0.265% and Wesdome's strengthening trend give each a different path to their current position. All three have strong or above-average fundamentals, which matters in a blended score. Endeavour Mining (EDV.TO) at #5 is the sharpest climber in the top ten, adding 0.8 points over 60 days to reach 8.4 with a positive trend - the West African producer has clearly been catching a bid.

The mid-table has two stories running in opposite directions. McEwen Inc (MUX) has had the biggest score gain in the group, up 1.2 points over 60 days to 5.9, climbing from #29 to #21. The Nevada-based producer's stock is up 15.2% to $21.66 and our signals show a strong upward trend. Mining Americas (MAI.TO) also deserves attention, jumping eight places to #15 with a 0.6-point score gain - the Pan Mine complex in Nevada has been generating consistent relative outperformance. On the downside, Thor Explorations (THX.V) has lost eight places to #26 despite its Segilola mine in Nigeria reporting Q2 revenue of $77.6 million. The score drop appears to reflect slipping relative price performance rather than anything operationally broken at the mine level. Integra Resources (ITRG) has also fallen sharply, down eight positions to #28, with a negative edge and below-50% win rate dragging it below the group midpoint.

Gold Producers remains the most spread-out group in the gold sector, with scores running from 9.4 at the top down into the low 3s. The group's average is 5.6 but with more names trending down than up and 24 of 39 underperforming GDX, the distribution is skewed. The top five are pulling away; the middle third is under pressure.

#	Company	Ticker	Bench	Price	Med.Edge	WinRate	Score	Fund	Trend
1	Aura Minerals Inc	AUGO	GDX	89.12	+0.265%	55.8%	9.4	A	+
2	Wesdome Gold Mines Ltd	WDO.TO	GDX	34.99	+0.142%	52.0%	9.3	A	++
3	Centerra Gold Inc	CGAU	GDX	24.25	+0.246%	59.0%	9.2	B	=
4	Westgold Resources Ltd	WGX.TO	GDX	6.56	+0.116%	52.8%	8.7	A	=
5	Endeavour Mining Corp	EDV.TO	GDX	90.13	+0.086%	53.3%	8.4	A	+
6	Aris Mining Corp	ARIS	GDX	21.26	+0.214%	55.0%	8.3	B	++
7	Alkane Resources Ltd	ALK.TO	GDX	1.93	+0.160%	52.0%	7.7	B	=
8	Vault Minerals	REDLF	GDX	4.95	+0.233%	51.4%	7.5	B	-
9	K92 Mining Inc	KNT.TO	GDX	31.33	+0.002%	50.0%	7.3	A	=
10	i-80 Gold Corp	IAU.TO	GDX	2.67	+0.117%	52.0%	7.2	B	+
11	Equinox Gold Corp	EQX	GDX	13.45	-0.047%	47.8%	7.0	A	=
12	New Found Gold Corp	NFG.V	GDX	2.81	-0.379%	46.3%	6.6	A	=
13	Resolute Mining Ltd	RSG.L	GDX	74.00	+0.186%	52.0%	6.5	C	-
14	West Red Lake Gold Mines Inc	WRLG.V	GDX	0.94	-0.204%	45.9%	6.2	A	+
15	Mining Americas Inc	MAI.TO	GDX	6.63	+0.043%	51.2%	6.1	C	++
16	Mineros S.A.	MSA.TO	GDX	8.07	+0.070%	50.8%	6.0	C	-
17	Fortuna Mining	FSM	GDX	12.81	-0.033%	48.6%	6.0	B	-
18	Steppe Gold Ltd	STGO.TO	GDX	1.91	+0.041%	50.8%	6.0	C	+
19	Talisker Resources Ltd	TSK.TO	GDX	1.61	-0.067%	48.4%	5.9	B	--
20	Mako Mining Corp	MKO.V	GDX	15.14	-0.068%	48.4%	5.9	B	=
21	McEwen Inc	MUX	GDX	21.66	+0.070%	53.0%	5.9	C	++
22	Greatland Gold	GGP.L	GDX	676.94	-0.088%	48.0%	5.8	B	-
23	Allied Gold Corp	AAUC	GDX	24.11	-0.084%	47.4%	5.6	B	=
24	Heliostar Metals Ltd	HSTR.V	GDX	2.34	-0.229%	49.2%	5.2	C	=
25	Caledonia Mining Corp. Plc	CMCL	GDX	25.51	-0.113%	48.6%	5.1	C	--
26	Thor Explorations Ltd	THX.V	GDX	1.37	-0.104%	48.4%	5.0	C	--
27	Orezone Gold Corp	ORE.TO	GDX	2.87	-0.107%	48.4%	5.0	C	=
28	Integra Resources	ITRG	GDX	2.94	-0.155%	45.8%	5.0	B	-
29	Jaguar Mining Inc	JAG.TO	GDX	8.17	-0.187%	45.9%	4.6	B	=
30	Borealis Mining Company Ltd	BOGO.V	GDX	1.05	-0.402%	44.7%	4.4	B	=
31	Galiano Gold Inc	GAU	GDX	2.41	-0.124%	47.4%	4.3	C	-
32	AltynGold PLC	ALTN.L	GDX	1,273.44	-0.200%	48.0%	4.0	C	-
33	Contango Ore Inc	CTGO	GDX	20.38	-0.272%	46.6%	3.9	C	+
34	Denarius Metals	DNRSF	GDX	0.54	-0.320%	47.8%	3.9	C	=
35	Luca Mining	LUCA.V	GDX	1.10	-0.752%	44.3%	3.6	B	=
36	Asante Gold Corp	ASE.V	GDX	1.08	-0.692%	43.1%	2.0	C	=
37	Erdene Resource Development Corp	ERD.TO	GDX	6.91	-0.306%	43.9%	1.0	E	=
38	Ariana Resources Plc	AAU.L	GDX	1.50	-0.652%	44.0%	0.3	E	=
39	Namib Minerals	NAMM	GDX	1.47	-1.062%	35.1%	0.0	D	=
40	Hemlo Mining Corp	HMMC.TO	GDX	Insufficient data (180 days)				B

SILVER PRODUCERS

Americas Gold & Silver (USA.TO) has taken the lead with a score of 9.1, fractionally ahead of Aya Gold & Silver (AYA.TO) at 9.0 after Aya slipped 0.4 points over 60 days - a modest score softening but enough to flip the top two. The gap between them is thin. Americas carries the stronger edge at +0.396% with a win rate of 54.5%, while Aya - despite its slightly weaker signal metrics - has moved up 12.7% in price to $40.53 over ten days and retains strong fundamental quality. Either could be leading this group next week.

Below those two, the picture is softer. Seven of eleven names are underperforming SIL, the group average sits at 5.8, and four names are trending down. Avino Silver & Gold (ASM) has lost two places to #7 with a 0.5-point score decline and a negative trend - its edge of -0.354% against SIL is meaningful underperformance, and despite a 10.1% price gain in an environment where silver is up 7.1%, the benchmark has been moving faster. Gogold Resources (GGD.TO) also slipped 0.5 points to 6.1 at #4 and remains technically underperforming on signal days, even though its Parral project in Mexico continues advancing. Discovery Mining (DSV.TO) holds #3 steadily at 6.7, outperforming with a win rate of 51.6%, and represents the cleaner mid-table story in the group.

#	Company	Ticker	Bench	Price	Med.Edge	WinRate	Score	Fund	Trend
1	Americas Gold & Silver Corp	USA.TO	SIL	7.92	+0.396%	54.5%	9.1	A	+
2	Aya Gold & Silver Inc	AYA.TO	SIL	40.53	+0.087%	51.2%	9.0	A	=
3	Discovery Mining Ltd	DSV.TO	SIL	12.98	+0.111%	51.6%	6.7	B	=
4	Gogold Resources	GGD.TO	SIL	4.46	-0.126%	46.7%	6.1	A	=
5	Silvercorp Metals Inc	SVM	SIL	13.46	+0.088%	51.0%	6.1	C	+
6	Hochschild Mining Plc	HOC.L	SIL	694.00	-0.214%	46.4%	5.5	B	-
7	Avino Silver & Gold Mines Ltd	ASM	SIL	7.73	-0.354%	45.4%	5.5	A	-
8	Endeavour Silver Corp	EXK	SIL	11.30	-0.097%	47.0%	5.0	B	=
9	Guanajuato Silver	GSVR.V	SIL	0.50	-0.031%	49.6%	4.3	D	-
10	Andean Precious Metals Corp	APM.TO	SIL	7.35	-0.240%	46.3%	3.5	C	-
11	Santacruz Silver Mining Ltd	SCZ.V	SIL	13.90	-0.236%	46.3%	3.1	D	=

GOLD JUNIORS

Montage Gold (MAU.TO) sits at #1 with a score of 8.3 and has held the position for 11 days, and it's worth understanding what that means in the context of Gold Juniors. The group's top score of 8.3 is noticeably below what we see leading Gold Majors or Gold Producers - the talent pool is thinner here, and the separation between #1 and the rest of the top ten is compressed. NexGold (NEXG.V) at 7.5 and Seabridge (SA) at 7.4 are close, and the position looks competitive rather than dominant.

The biggest rank jump in the group is Dakota Gold (DC), which has climbed 12 places to #4 with a 1.1-point score gain and a strong upward trend. The Black Hills, South Dakota explorer has completed its 2026 drill campaign at Richmond Hill, and momentum in both its price metrics and our signals has been building. Cabral Gold (CBR.V) is another sharp mover, jumping 17 places to #13 after closing a $45 million private placement with a strategic investor in late August - that financing event has clearly improved the market's view of the company's near-term trajectory, and the signals have responded. Thesis Gold (TAU.V) matched that move, also jumping 17 places to #14 with a strong upward trend; both names coming from around #30 into the top 15 in one move is a genuine development in the group structure.

On the downside, Galleon Gold (GGO.V) has had the sharpest fall in the top 20, dropping 13 places from #3 to #16 with a 1.1-point score decline. Orosur Mining (OMI.V) tells the most extreme story in the whole group - down 29 places to #47, the biggest rank collapse across all groups this week, with a score drop of 1.8 points and an edge of -0.860% showing severe relative underperformance against GDX on signal days. Snowline Gold (SGD.TO) is the counterpoint at #29, gaining 21 places and 1.2 score points with a strong upward trend - the Yukon explorer has been building its signal profile steadily. The broad picture in Gold Juniors remains one of a small outperforming cluster at the top and a wide tail of names struggling to keep pace with GDX; only 16 of 90 are beating the benchmark.

#	Company	Ticker	Bench	Price	Med.Edge	WinRate	Score	Fund	Trend
1	Montage Gold Corp	MAU.TO	GDX	19.92	+0.230%	53.7%	8.3	B	=
2	NexGold Mining Corp	NEXG.V	GDX	1.54	+0.046%	50.4%	7.5	A	--
3	Seabridge Gold Inc	SA	GDX	34.06	+0.194%	52.2%	7.4	B	++
4	Dakota Gold Corp	DC	GDX	6.24	+0.057%	50.6%	7.1	B	++
5	Revival Gold Inc	RVG.V	GDX	0.93	-0.094%	49.6%	7.1	A	++
6	White Gold Corp	WGO.V	GDX	2.40	+0.018%	50.4%	6.6	B	=
7	Northisle Copper & Gold Inc	NCX.V	GDX	4.29	-0.126%	49.2%	6.5	B	=
8	Gold X2 Mining Inc	AUXX.V	GDX	11.00	+0.144%	50.8%	6.5	B	=
9	Wallbridge Mining Company Ltd	WM.TO	GDX	0.10	+0.230%	51.6%	6.4	C	=
10	1911 Gold Corp	AUMB.V	GDX	0.88	-0.106%	48.8%	6.4	B	=
11	Vista Gold Corp	VGZ	GDX	2.35	+0.151%	51.8%	6.4	C	=
12	Falco Resources Ltd	FPC.V	GDX	0.56	-0.133%	48.0%	6.1	B	-
13	Cabral Gold Inc	CBR.V	GDX	1.50	+0.081%	50.8%	6.0	C	++
14	Thesis Gold Inc	TAU.V	GDX	3.68	-0.142%	48.8%	6.0	B	++
15	Northern Dynasty Minerals Ltd	NAK	GDX	1.75	-0.100%	49.8%	5.9	B	--
16	Galleon Gold Corp	GGO.V	GDX	1.25	-0.216%	48.8%	5.9	B	--
17	Perpetua Resources Corp	PPTA	GDX	26.18	-0.199%	47.4%	5.9	B	--
18	STLLR Gold	STLR.TO	GDX	1.89	-0.142%	48.4%	5.8	B	-
19	Scottie Resources	SCOT.V	GDX	2.81	-0.297%	48.8%	5.8	B	=
20	Tristar Gold Inc	TSG.V	GDX	0.20	+0.039%	51.4%	5.8	C	=
21	Cerrado Gold Inc	CERT.V	GDX	2.52	+0.064%	51.2%	5.7	C	=
22	Inventus Mining Corp	IVS.V	GDX	0.29	+0.004%	50.0%	5.7	C	-
23	Amex Exploration Inc	AMX.V	GDX	4.53	-0.063%	48.8%	5.6	B	--
24	McFarlane Lake Mining Ltd	MLM.CA	GDX	0.68	-0.134%	48.6%	5.5	B	=
25	FireFly Metals Ltd	FFM.TO	GDX	1.89	-0.179%	47.3%	5.5	B	-
26	US Gold Corp	USAU	GDX	16.49	-0.240%	47.4%	5.4	B	=
27	Lahontan Gold Corp	LG.V	GDX	0.42	-0.160%	48.4%	5.4	B	--
28	Troilus Mining	TLG.TO	GDX	2.37	-0.235%	47.2%	5.3	B	=
29	Snowline Gold Corp	SGD.TO	GDX	18.28	-0.003%	50.0%	5.3	C	++
30	Blue Lagoon Resources	BLLG.CA	GDX	0.69	-0.416%	46.1%	5.3	B	=
31	Rua Gold Inc	RUA.TO	GDX	1.17	-0.554%	45.1%	5.2	A	=
32	Kore Mining	KORE.V	GDX	0.17	+0.036%	51.0%	5.2	C	++
33	Silverco Mining Ltd	SICO.V	GDX	10.86	-0.066%	48.3%	5.1	C	++
34	First Mining Gold Corp	FF.TO	GDX	0.97	-0.105%	49.6%	5.0	C	+
35	Osisko Development Corp	OGG	GDX	3.17	-0.137%	47.0%	5.0	B	=
36	Norsemont Mining Inc	NOM.CA	GDX	0.94	-0.144%	49.4%	4.9	C	--
37	Intl. Tower Hill Mines Ltd	THM	GDX	2.77	-0.337%	47.4%	4.9	B	--
38	Western Exploration Inc	WEX.V	GDX	0.67	-0.302%	45.9%	4.9	B	=
39	Lode Gold Resources Inc	LOD.V	GDX	0.41	-0.030%	49.8%	4.8	C	++
40	Fortune Minerals Ltd	FT.TO	GDX	0.15	-0.162%	48.4%	4.6	C	++
41	Omai Gold Mines Corp	OMG.V	GDX	3.00	+0.152%	52.4%	4.6	D	-
42	Viva Gold Corp	VAU.V	GDX	0.22	-0.074%	49.2%	4.5	C	++
43	Sonoro Gold Corp	SGO.V	GDX	0.21	-0.211%	46.7%	4.4	C	=
44	West Vault Mining Inc	WVM.V	GDX	1.99	-0.720%	45.7%	4.4	B	=
45	Fortune Bay Corp	FOR.V	GDX	0.85	-0.400%	45.5%	4.2	B	--
46	Rio2 Ltd	RIO.TO	GDX	3.66	-0.294%	47.6%	4.2	C	=
47	Orosur Mining Inc	OMI.V	GDX	0.29	-0.860%	45.3%	4.2	B	--
48	Mayfair Gold Corp	MFG.V	GDX	4.59	-0.307%	45.9%	4.1	C	-
49	Bonterra Resources Inc	BTR.V	GDX	0.13	-0.372%	48.1%	3.9	C	=
50	Soma Gold Corp	SOMA.V	GDX	0.81	-0.222%	47.6%	3.9	C	=
51	Cassiar Gold Corp	GLDC.V	GDX	0.47	-0.571%	45.9%	3.9	C	=
52	Spanish Mountain Gold Ltd	SPA.V	GDX	0.37	-0.326%	46.3%	3.8	C	=
53	Unigold Inc	UGD.V	GDX	0.20	-0.224%	48.5%	3.8	D	=
54	Granada Gold	GGM.V	GDX	0.04	-0.167%	48.3%	3.8	D	+
55	Goldquest Mining Corp	GQC.V	GDX	0.99	-0.225%	48.4%	3.7	D	++
56	Pirate Gold Corp	YARR.V	GDX	0.21	+0.001%	50.0%	3.6	D	-
57	Lavras Gold Corp	LGC.V	GDX	3.70	-0.812%	44.7%	3.6	B	=
58	Canagold Resources	CCM.TO	GDX	0.60	-0.318%	45.7%	3.6	C	=
59	P2 Gold Inc	PGLD.V	GDX	1.22	-0.275%	44.3%	3.6	C	=
60	PPX Mining Corp	PPX.V	GDX	0.26	-0.161%	49.0%	3.6	D	+
61	Novo Resources Corp	NVO.TO	GDX	0.07	-0.173%	49.0%	3.6	D	++
62	GoldMining Inc	GLDG	GDX	1.14	-0.302%	44.2%	3.5	C	=
63	Euro Sun Mining Inc	ESM.TO	GDX	0.16	-0.324%	45.5%	3.5	C	=
64	Chesapeake Gold Corp	CKG.V	GDX	3.99	-0.656%	42.7%	3.5	B	=
65	Tudor Gold Corp	TUD.V	GDX	0.98	-0.431%	41.9%	3.5	B	=
66	NovaGold Resources Inc	NG	GDX	9.12	-0.198%	46.2%	3.5	C	--
67	Newcore Gold Ltd	NCAU.V	GDX	0.33	-0.403%	45.5%	3.5	C	=
68	Minnova Corp	MCI.V	GDX	0.17	-0.665%	44.9%	3.4	C	=
69	Orvana Minerals Corp	ORV.TO	GDX	2.69	-0.145%	48.4%	3.4	D	=
70	Paramount Gold Nevada Corp	PZG	GDX	1.50	-0.180%	45.8%	3.4	C	-
71	KEFI Gold and Copper	KEFI.L	GDX	1.22	+0.120%	51.2%	3.3	E	=
72	Cambria Gold Mines Inc	CAMVF	GDX	0.72	-0.665%	44.6%	3.3	C	--
73	Gold Terra Corp	YGT.V	GDX	0.20	-0.300%	45.5%	3.1	C	+
74	RPX Gold	RPX.V	GDX	0.16	-0.216%	47.6%	3.1	D	-
75	Belo Sun Mining Corp	BSX.TO	GDX	1.57	-0.417%	44.3%	3.1	C	=
76	Arizona Metals Corp	AMC.TO	GDX	0.21	-0.666%	41.1%	3.0	B	=
77	Fury Gold Mines Ltd	FURY	GDX	0.62	-0.324%	46.2%	3.0	D	+
78	U.S. GoldMining Inc	USGO	GDX	9.70	-0.407%	44.6%	2.8	C	=
79	Pelangio Exploration Inc	PX.V	GDX	0.17	-0.493%	47.7%	2.5	D	=
80	Freegold Ventures Ltd	FVL.TO	GDX	1.33	-0.257%	44.3%	2.4	D	+
81	TRX Gold Corp	TRX	GDX	1.22	-0.259%	43.8%	2.2	D	=
82	RTG Mining Inc	RTG.TO	GDX	0.04	-0.222%	46.0%	2.2	D	=
83	Altamira Gold Corp	ALTA.V	GDX	0.21	-0.941%	41.5%	2.1	C	=
84	Lion One Metals Ltd	LIO.V	GDX	0.19	-0.629%	41.7%	2.0	C	=
85	Sidney Resources Corp	SDRC	GDX	0.20	-1.351%	42.2%	1.5	C	=
86	GMV Minerals Inc	GMV.V	GDX	0.15	-0.932%	41.9%	1.4	C	=
87	Baru Gold Corp	BARU.V	GDX	0.07	-0.784%	43.6%	1.3	D	=
88	Mogotes Metals Inc	MOG.V	GDX	0.55	-0.453%	47.2%	1.1	E	=
89	Goldstorm Metals Corp	GSTM.V	GDX	0.17	-0.347%	47.8%	1.0	E	-
90	St. Augustine Gold & Copper Ltd	SAU.TO	GDX	0.18	-0.722%	42.8%	0.0	E	--
91	Aton Resources Inc	AAN.V	GDX	Insufficient data (184 days)				C
92	Tiger Gold Corp	TIGR.V	GDX	Insufficient data (167 days)				C

SILVER JUNIORS

A notable change at the top: Vizsla Silver (VZLA) takes the #1 spot with a score of 7.5, while Honey Badger Silver (TUF.V) - which held that position previously - has fallen all the way to #9 after losing 1.5 points over 60 days. Honey Badger's stock is essentially flat over ten days at $0.78, a stark contrast to a silver market that's up 7.1%, and its edge of -0.312% with a sharp downward trend tells you our signals have been turning off this name consistently. The fall from #1 to #9 is substantial for a 37-name group.

New Pacific Metals (NUAG.TO) has made the most aggressive move up, gaining 1.5 points and seven places to reach #2 after filing a preliminary economic assessment for its Carangas project in Bolivia in mid-August - the concrete project economics appear to have sharpened the market's attention. Unico Silver (USLRF) gained 1.1 points to reach #4 and Andean Silver (ADSLF) is up to #3, both with strong upward trends. Andean's price jump of 31.4% over ten days is the sharpest in the entire Silver Juniors group. These three names alongside Vizsla form a top tier that is separated from the broader group, where 30 of 37 names are underperforming SIL. Below the top six, signal quality deteriorates quickly, and the average score of 4.4 across the group underscores how thin the outperformance is.

#	Company	Ticker	Bench	Price	Med.Edge	WinRate	Score	Fund	Trend
1	Vizsla Silver Corp	VZLA	SIL	4.16	+0.070%	50.6%	7.5	A	++
2	New Pacific Metals Corp	NUAG.TO	SIL	10.21	+0.082%	51.2%	7.4	B	++
3	Andean Silver	ADSLF	SIL	2.09	+0.128%	50.8%	6.9	B	++
4	Unico Silver	USLRF	SIL	0.64	+0.117%	50.6%	6.8	B	++
5	Hycroft Mining Holding Corp	HYMC	SIL	25.96	-0.241%	48.2%	6.5	A	-
6	Kuya Silver Corp	KUYA.CA	SIL	0.73	-0.042%	49.8%	6.4	B	=
7	Skeena Gold & Silver	SKE.TO	SIL	48.60	-0.023%	49.6%	6.3	B	-
8	AbraSilver Resource Corp	ABRA.TO	SIL	16.95	+0.091%	50.8%	6.0	C	=
9	Honey Badger Silver	TUF.V	SIL	0.78	-0.312%	47.5%	5.8	B	--
10	Blackrock Silver	BRC.V	SIL	1.28	-0.223%	47.2%	5.8	B	=
11	Outcrop Silver & Gold	OCG.TO	SIL	0.38	+0.181%	51.6%	5.5	C	++
12	Silver Tiger Metals	SLVR.TO	SIL	1.08	-0.342%	47.6%	5.4	B	-
13	Southern Silver Exploration	SSV.V	SIL	0.65	-0.187%	48.8%	5.1	C	++
14	Bunker Hill Mining Corp	BNKR.TO	SIL	4.90	-0.141%	48.0%	4.9	C	=
15	Highlander Silver Corp	HSLV.TO	SIL	7.95	-0.230%	45.5%	4.8	B	-
16	Apollo Silver	APGO.V	SIL	3.29	-0.106%	48.8%	4.8	C	+
17	Silver X Mining Corp	AGX.V	SIL	0.95	-0.351%	48.0%	4.7	C	=
18	Silver Storm Mining Ltd	SVRS.V	SIL	0.58	-0.458%	46.7%	4.6	B	=
19	Minco Silver Corp	MSV.TO	SIL	0.71	-0.393%	47.7%	4.6	C	-
20	Silver One Resources Inc	SVE.V	SIL	0.48	-0.128%	49.2%	4.5	C	++
21	Silver Mountain Resources Inc	AGMR.V	SIL	4.21	-0.324%	47.6%	4.2	C	--
22	Eloro Resources Ltd	ELO.TO	SIL	2.15	-0.099%	48.4%	3.8	D	++
23	Aftermath Silver	AAG.V	SIL	0.83	-0.547%	41.9%	3.8	B	=
24	Nord Precious Metals Mining	NTH.V	SIL	0.17	-0.490%	47.2%	3.5	C	+
25	Argenta Silver Corp	AGAG.V	SIL	0.57	-0.613%	44.7%	3.4	C	--
26	Silver Mines Ltd	SLVMF	SIL	0.13	-0.824%	47.3%	3.2	C	=
27	Impact Silver Corp	IPT.V	SIL	0.31	-0.441%	45.9%	3.1	C	=
28	Almaden Minerals Ltd	AMM.V	SIL	0.22	-0.363%	48.1%	3.1	D	=
29	Kootenay Silver Inc	KTN.V	SIL	1.35	-0.506%	43.5%	3.1	C	=
30	GR Silver Mining Ltd	GRSL.V	SIL	0.40	-0.146%	45.9%	3.0	D	++
31	Stroud Resources Ltd	SDR.V	SIL	0.17	+0.149%	50.5%	2.7	E	++
32	Silver Bullet Mines Corp	SBMI.V	SIL	0.14	-0.353%	47.7%	2.6	D	--
33	Cerro de Pasco Resources Inc	CDPR.V	SIL	0.72	-0.407%	45.1%	2.5	D	=
34	Emerita Resources Corp	EMO.V	SIL	0.36	-0.265%	45.5%	2.4	D	=
35	Minaurum Silver	MGG	SIL	0.41	-0.306%	45.1%	2.2	D	=
36	Excellon Resources Inc	EXN.V	SIL	0.49	-0.646%	42.3%	1.8	C	=
37	Equity Metals Corp	EQMEF	SIL	0.20	-0.296%	45.0%	1.0	E	+
38	Sun Silver Ltd	SSLVF	SIL	Insufficient data (184 days)				B

GOLD MINING ETFs

Sprott Junior Gold Miners (SGDJ) leads the group at a score of 6.5, with four of six ETFs clearing the outperformance threshold versus GDX. iShares Gold Producers (IAUP.L) has had the most improvement in the group, gaining 0.9 points to reach #2 with a positive trend, while GDXJ slipped a spot to #4. The top four are bunched closely between 6.1 and 6.5, which reflects a group that's all moving in broadly the same direction. The gap is at the bottom: Sprott Gold Miners (SGDM) at a score of 2.5 with an edge of -0.044% and a win rate of 45.4% is underperforming GDX by 2.5 points and continues to lose ground relative to peers, down 0.7 points over 60 days. No trending changes for any name to the downside this week, which is a clean positive read for the group overall.

#	Company	Ticker	Bench	Price	Med.Edge	WinRate	Score	Fund	Trend
1	Sprott Junior Gold Miners	SGDJ	GDX	103.20	+0.075%	51.8%	6.5	n/a	=
2	iShares Gold Producers	IAUP.L	GDX	48.27	+0.065%	51.6%	6.3	n/a	+
3	iShares MSCI Global Gold Miners	RING	GDX	91.00	+0.024%	52.2%	6.3	n/a	=
4	VanEck Junior Gold Miners	GDXJ	GDX	134.79	+0.020%	51.8%	6.1	n/a	=
5	US Global GO GOLD and Precious Metals Miners	GOAU	GDX	50.88	-0.013%	48.6%	4.2	n/a	+
6	Sprott Gold Miners	SGDM	GDX	86.12	-0.044%	45.4%	2.5	n/a	=

SILVER MINING ETFs

Four of five silver ETFs are outperforming SIL, and the average score of 5.7 sits slightly above the universe midpoint, making this the stronger of the two ETF groups. iShares MSCI Global Silver & Metals Miners (SLVP) is the most improved name, gaining 1.0 points to reach #4 with a positive trend, closing at $41.90. Themes Silver Miners (AGMI) holds the lead at 6.7 but has lost 0.8 points over 60 days and carries a downward trend, so its position at the top is softening. Sprott Active Gold & Silver Miners (GBUG) at #2 with a score of 6.5 and a positive trend looks like the more stable name at the top of the group right now. The range from 4.3 to 6.7 across five names is modest, and the ETF groups tend not to show dramatic divergences - this one is no exception.

#	Company	Ticker	Bench	Price	Med.Edge	WinRate	Score	Fund	Trend
1	Themes Silver Miners	AGMI	SIL	81.22	+0.050%	52.6%	6.7	n/a	-
2	Sprott Active Gold & Silver Miners	GBUG	SIL	53.79	+0.078%	51.8%	6.5	n/a	+
3	Amplify Junior Silver Miners	SILJ	SIL	33.16	+0.016%	51.4%	5.8	n/a	=
4	iShares MSCI Global Silver & Metals Miners	SLVP	SIL	41.90	+0.005%	50.2%	5.1	n/a	+
5	Sprott Silver Miners & Physical Silver	SLVR	SIL	66.04	-0.034%	49.0%	4.3	n/a	=