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GR Silver Mining (TSXV:GRSL) has attracted fresh attention after outlining detailed 2026 plans that include a 20,000 metre silver focused drilling program, bulk sampling test mining, and pilot plant work in Mexico.
See our latest analysis for GR Silver Mining.
The latest detailed 2026 plan lands after a strong run in the share price, with a 30 day share price return of 44.44% and a 90 day share price return of 100.00%. The 1 year total shareholder return of 166.67% points to building momentum, despite a weaker 5 year total shareholder return of 25.71%.
If this kind of early stage resource story interests you, it can also be worth scanning fast growing stocks with high insider ownership as a way to spot other fast moving opportunities on your radar.
With GR Silver Mining still loss making and trading at CA$0.52, only slightly below a CA$0.55 analyst price target, the key question is whether the recent share price surge leaves any upside or if markets are already pricing in future growth.
According to Agricola, the narrative fair value of CA$3.00 sits a long way above GR Silver Mining’s last close at CA$0.52, which puts the current price firmly in the shadow of a much higher long term scenario based on specific silver and production assumptions.
The 5-year forecast projects significant stock price appreciation from $0.60 in 2025 to $3.00 in 2029, driven by production milestones and a favorable silver market. However, investors should monitor permitting progress, financing needs, and commodity price trends.
Curious what has to happen for that valuation gap to close? It rests on high silver prices, sizeable AgEq resources, and a ramp up from pilot output to multi project production. The exact production profile, cost base and timing sit at the heart of this fair value story.
Result: Fair Value of CA$3.00 (UNDERVALUED)
Have a read of the narrative in full and understand what’s behind the forecasts.
However, this hinges on ambitious assumptions. Setbacks on permitting timelines or difficulty securing the projected CA$45m of funding could quickly challenge that optimistic fair value story.
Find out about the key risks to this GR Silver Mining narrative.
The user narrative points to a long term fair value of CA$3.00, but the market is currently assigning GR Silver Mining a P/B of 13.6x. That is much higher than both the Canadian metals and mining industry at 3.5x and the peer group at 6.5x. In practice, that kind of gap can mean limited room for error if the story does not play out as hoped. This raises the question: how comfortable are you paying up this far ahead of meaningful revenue?
See what the numbers say about this price — find out in our valuation breakdown.
TSXV:GRSL P/B Ratio as at Jan 2026
If you see the numbers differently or want to stress test your own assumptions, you can build a custom GR Silver Mining story in just a few minutes, starting with Do it your way.
A great starting point for your GR Silver Mining research is our analysis highlighting 3 important warning signs that could impact your investment decision.
If GR Silver Mining has your attention, do not stop here. Widen your search with focused screeners so you are not leaving other potential opportunities on the table.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include GRSL.V.
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