Fund Manager Summary on Andean Silver Ltd (ASX:ASL)
Andean Silver Ltd (ASX:ASL) has demonstrated notable volatility in share price, recently surging to approximately $2.15, reflecting a 38% increase tied to a 17% rise in silver prices. Fund managers, particularly Endeavor Asset Management, highlight key catalysts such as ongoing drilling campaigns at the Cerro Bayo project and strategic exploration developments, including a promising 2km target identified in a geophysics survey. However, they also indicate potential risks; Endeavor exited its position due to market uncertainties and strong prior returns, signalling caution. They emphasize that the company's capability to realize value from its extensive landholdings and restart mining operations is crucial for future growth. Overall, investors should consider the upward trajectory in resource estimates and market conditions alongside past performance as they evaluate future involvement with ASL.
Commentary From The Managers
There are 11 insights from 3 fund managers regarding their investment in Andean Silver Ltd (ASX:ASL) available on Thesis Tracker.
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Updates are made available to members within 12 hours of being released. The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
Tyndall Asset Management
30 Nov 2025
$2.15
Summary
- Tyndall Asset Management exited its position in Andean Silver following strong share price appreciation.
- Value recognition in the stock contributed to this decision.
- The fund manager continues to evaluate market conditions for potential re-entry.
- Focus remains on identifying opportunities that align with investment objectives and risk tolerance.
Endeavor Asset Management
30 Sept 2025
$2.04
Summary
- Endeavor Asset Management continues to monitor the performance of Andean Silver Ltd. (ASL).
- Andean Silver has seen a significant surge of 38% in its value.
- This increase is attributed to a 17% rise in silver prices.
- Ongoing drilling campaigns are expected to enhance value for both Andean Silver and its associated companies.
- Economic study work is also anticipated to contribute to future growth.
Endeavor Asset Management
31 July 2025
$1.23
Summary
- Endeavor Asset Management redeployed proceeds into Andean Silver (ASL).
- Participation in a capital raise at $1.20 per share.
- Funds raised will advance exploration efforts across ASL’s extensive landholding.
- Acceleration of studies aimed at restarting mining operations.
- Identified key catalysts for unlocking value.
Endeavor Asset Management
30 Apr 2025
$1.05
Summary
- Endeavor Asset Management exited their remaining position in South American silver-gold developer Andean Silver (ASL) in April.
- The decision followed a resource upgrade announcement at the Cerro Bayo project, increasing the silver equivalent resource to 111 million ounces.
- Andean Silver grew its resource base by approximately 439% over a 14-month period since acquiring the asset.
- Final shares were sold at around $1.09, securing a strong return compared to the average entry price of $0.53.
Endeavor Asset Management
31 Mar 2025
$1.27
Summary
- Endeavor Asset Management notes a significant rise of 30% in shares of Andean Silver Ltd. (ASL) over the month.
- This increase has been supported by a 9% rise in gold and silver prices amid growing global uncertainty.
- A critical factor in this rally was the announcement of a new exploration development.
- A geophysics survey at the Cerro Bayo project has identified a compelling 2km-long target.
- Endeavor Asset Management continues to monitor the developments closely.
Endeavor Asset Management
31 Jan 2025
$1.15
Summary
- Andean Silver Ltd (ASL) experienced a 41% surge in share price in January.
- This strong performance was supported by a 6% rise in gold prices and 8% increase in silver prices (in AUD).
- Higher metal prices resulted in an improved net present value for ASL’s flagship project, Cerro Bayo.
- Endeavor Asset Management continues to hold due to anticipated key catalysts, including an updated mineral resource estimate.
- Ongoing drilling activities across the company’s tenements are also expected to contribute positively.
Paradice Investment Management
31 Dec 2024
$0.81
Summary
- Paradice Investment Management continues to hold an overweight position in Andean Silver Limited (ASL).
- ASL has reported strong drilling results from its Cerro Bayo Silver Project in Chile.
- The outlook for resource growth is supported by exceptional results from the Pegaso 7 area.
- High-grade mineralisation has been intersected over a 600m strike length and to a depth of 300m, remaining open in all directions.
- Despite positive drilling results, the share price was impacted by a 6% decline in silver prices (in USD).
- After a strong performance in the first nine months of 2024 (+238%), the share price retreated by 35% in the December quarter.
- ASL remains a relatively small holding in the Fund.
Endeavor Asset Management
31 Oct 2024
$1.41
Summary
- Andean Silver Ltd. (ASL) performed strongly in October with shares increasing by 14%.
- The silver price rose by 5%, positively impacting the net present value of the Cerro Bayo project.
- Andean reported high-grade hits that extend mineralization outside the current resource.
- Upcoming resource update expected in Q1 CY25 likely to show another material increase in size.
- Endeavor Asset Management took some profits during the month at $1.46/sh.
Paradice Investment Management
30 Sept 2024
$1.24
Summary
- Paradice Investment Management maintains an overweight position in Andean Silver Limited (ASL).
- In the September 2024 quarter, ASL saw strong share price growth.
- The growth was driven by progress in Chile-focused exploration projects and increasing market demand for silver.
- Silver has recently begun to catch up to gold in terms of performance.
- Positive drilling news has further boosted ASL's stock performance.
- Andean raised $25 million in equity, enhancing its ability to accelerate exploration activities.
- The stock remains a small position in the portfolio.
Endeavor Asset Management
30 Sept 2024
$1.24
Summary
- Endeavor Asset Management notes that shares in Andean Silver (ASL) rose by 24% in September, making it the top contributor for the month.
- The company updated its resource, which grew by more than 80% to 91 million ounces of silver equivalent.
- The geology is simple, shallow, and continuous, which bodes well for future economics.
- The share price was further boosted by an 8% increase in the silver price.
- Endeavor Asset Management took some profits in ASL during the month.
Endeavor Asset Management
31 Aug 2024
$0.95
Summary
- Endeavor Asset Management recognizes strong performance with Andean Silver (ASL) shares rising 41% over the month
- Expansion of the silver resource area identified extensive outcropping veins in a standalone zone of the flagship Cerro Bayo project
- Exceptional results showcase the world-class potential of the Cerro Bayo project
- Capacity for future growth beyond known resource areas indicated
- Current Indicated and Inferred Mineral Resource Estimate stands at 50Moz at 311g/t of silver-equivalent
- Resource update expected this month, which is highly anticipated
- ASL has increased 150% since initial investment at 45c in May 24
The completeness, accuracy or current status of the investments referenced are not guaranteed.
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Frequently Asked Questions
Who is investing in Andean Silver Ltd (ASX:ASL)?
Fund managers including Endeavor Asset Management, Paradice Investment Management and Tyndall Asset Management have invested in Andean Silver Ltd (ASX:ASL).
Why do fund managers invest in Andean Silver Ltd?
Fund managers invest in Andean Silver Ltd due to its significant asset base in silver and gold, primarily at the Cerro Bayo project, which has shown a substantial resource upgrade. The company has experienced strong share price increases linked to rising precious metal prices, enhancing its net present value. Additionally, ongoing exploration and development activities, including an updated mineral resource estimate, present growth catalysts, while its risk/reward profile remains favorable in a volatile market environment.
What happened to Andean Silver Ltd (ASX:ASL)?
Fund managers view Andean Silver Ltd as a valuable investment due to its significant share price appreciation tied to rising silver prices. Endeavor Asset Management highlights potential for continued growth through ongoing drilling campaigns and economic studies, while Tyndall Asset Management recognizes that the company's strong performance has led to successful value recognition, prompting their exit. Overall, the investment reflects confidence in Andean Silver's prospects in the silver market.
What is the short interest in Andean Silver Ltd (ASX:ASL)?
The short interest in Andean Silver Ltd (ASX:ASL) is 0.41% which makes it the 304th most shorted stock on the ASX. Of the 208.1M shares that Andean Silver Ltd has on issue, 852.9K have been sold short.
What does Andean Silver Ltd (ASX:ASL) do?
Andean Silver Ltd. provides metal mining services. It operates Mitre project comprising multiple Reduced Intrusion Related Gold System that targets, with associated sheeted vein targets, and pegmatites with potential to host lithium and rare earth elements. The company is headquartered in Melbourne, Australia.