Back in September 2024, I wrote an article for Streetwise Reports that featured Aftermath Silver Ltd. (AAG:TSX.V; AAGFF:OTCQX; FLM1:FRA) as a strategic bet on world-class silver assets, noting its high-quality projects in Chile and Peru, strong backing from Eric Sprott, and a textbook multi-year base on the chart.
Fast forward to January 2026: Aftermath has delivered on the technical promise and strengthened its fundamentals dramatically.
Technical Targets Achieved and Exceeded:
- First target (~CA$0.55) Met and exceeded
- Second target (~CA$0.75) Met and exceeded
- Third target (~CA$1.05) Met and exceeded
The stock broke out decisively in 2025, forming a pattern of higher highs and higher lows amid a historic silver bull market. Shares reached a 52-week high of CA$1.16 in late 2025 and currently trade around CA$1.07, reflecting strong momentum as silver prices surged over 150% in 2025 to highs near US$84/oz, before consolidating around US$75–US$77/oz into early 2026.
This trend is being tracked live with ongoing chart updates; the current setup suggests the big-picture target of CA$2.50+ remains in play, especially if silver holds above key support zones and moves into a second leg of the bull cycle.
Key Fundamental Milestones in Late 2025
100% Ownership of Berenguela Secured
Aftermath completed the full acquisition of its flagship Berenguela silver-copper-manganese project in Peru ahead of schedule in November 2025.
This milestone eliminates previous ownership complexities, giving the company full control over a polymetallic asset with significant exposure to silver, copper, and battery-metal manganese, three metals increasingly critical in industrial and decarbonization demand trends.
Updated Mineral Resource Estimate (December 4, 2025)
- Measured & Indicated Silver: Increased 21% to 122.5 million ounces
- Copper: 717 million pounds (M&I)
- Manganese: 2.93 million tonnes (M&I)
This positions Aftermath in the top 10 undeveloped silver companies globally, based on contained ounces and critical metal exposure.
Phase 3 Drilling and Expansion
Ongoing drilling at Berenguela is targeting high-grade copper zones, manganese-rich domains, and overall resource expansion.
Drilling also commenced at Challacollo, a silver-gold project in northern Chile, enhancing pipeline value.
CA$20 Million Financing Closed
Strong institutional and strategic investor support (including continued backing from Eric Sprott) allowed Aftermath to close a CA$20 million financing in Q4 2025, giving the company the balance sheet strength to push toward pre-feasibility studies and de-risk its development path.
Outlook: Strong Silver Tailwinds, Multiple Catalysts Ahead
With full ownership of Berenguela, a clear development strategy, and exploration underway at multiple projects, Aftermath is transitioning from explorer to advanced-stage developer, at a time when silver fundamentals are tightening, and institutional capital is returning to the sector.
Meanwhile, the chart has validated the bullish thesis laid out in 2024. Higher lows, rising volume, and trend acceleration all suggest that the technical path remains open toward CA$2.50, particularly if silver regains momentum in 2026.
Conclusion: Aftermath Silver Remains a Speculative Buy
With its large and growing resource base, it is now placing it among the Top 10 undeveloped silver companies in the world. Aftermath Silver is emerging as a standout in the silver development space. The company’s exposure to critical co-products like copper and manganese, combined with its fully owned Berenguela project and an expanding pipeline in Chile, gives it the scale and optionality many juniors lack.
Technically, the stock has broken out of a multi-year base and exceeded three price targets. Shares remain well below their previous highs, but they are no longer below the radar.
We continue to view Aftermath Silver Ltd. as a Speculative Buy at the current price of ~CA$1.03, with significant potential upside if silver resumes its move higher and the company continues to execute on its development milestones.
Investors who want more information can visit Aftermath Silver’s website here.
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As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it’s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.
Additional John Newell Disclaimer: I own shares in Aftermath Silver. This article is for informational purposes only and does not constitute investment advice.