Investigator Silver Limited (renamed from Investigator Resources Limited in November 2025) 100%-owns the Paris Silver Project, located north of Kimba on South Australia's Eyre Peninsula -- one of Australia's highest-grade pure-play silver developments. A Definitive Feasibility Study announced 27 February 2026 outlines a maiden Probable Ore Reserve of 33 million ounces of silver (12 million tonnes at 88g/t Ag), supporting an 11-year mine life at 1.5 million tonnes per annum throughput via a conventional shallow open-pit, contract-mined, whole-ore cyanide-leach operation. At spot pricing (US$80/oz silver) the DFS shows a pre-tax NPV8 of A$1.15 billion, a 93% IRR and an 11-month payback from first production, against approximately A$260 million in peak development funding. The broader project carries a JORC Mineral Resource of 57 million ounces of silver (24 million tonnes at 73g/t Ag plus 0.41% lead), and sits within a 15km mineralised corridor offering satellite-deposit growth options near the planned plant and tailings facility. Following an institutional placement, the company held A$58.8 million cash as at 30 June 2026, funding parallel permitting (environmental, technical, heritage and native title studies), detailed engineering and exploration workstreams as it targets a Mining Lease Application in the September 2026 quarter.
Notable vs. Peers
- Financials score of 9.7/10 is stronger than the peer average of 5.8/10.
- Jurisdiction risk score of 9/10 is meaningfully safer than the peer average of 6.8/10.
- Trading within 4% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Not in place: mill, tailings facility, road access. Not yet determined: grid power.
Jurisdiction (40%)9/10
South Australia: Fraser PPI 2025 is 85.47 of 100 (rank 16 of 68), which maps to 9 on this site's scale. South Australia -- Tier-1 mining jurisdiction, matching this schema's established South Australia convention.
Infrastructure (40%)1.4/10
No confirmed mill, no confirmed road access, and no confirmed tailings facility at Paris Silver Project; grid power not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Carrapateena (BHP Group Limited), 212 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:0/10
Nearest producing mine: Carrapateena (BHP Group Limited), 212 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:10/10
Stage: Feasibility Study
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:5/10
Primary commodity: Silver
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Appointed Managing Director effective 1 July 2025, succeeding Andrew McIlwain; 20+ years of mining-sector experience. Total fixed remuneration set at $550,000 p.a. from July 2026.
Geoscientist with 35+ years of experience; former Mawson Professor of Geology, University of Adelaide.
Board member of Investigator Silver Limited (formerly Investigator Resources Limited, renamed November 2025).
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Investigator Silver, renamed from Investigator Resources in November 2025, owns 100% of the Paris silver project north of Kimba on South Australia's Eyre Peninsula, one of Australia's highest-grade pure-play silver developments. Indicated resources contain 40,997,838 oz of silver (17 Mt at 75 g/t), with no measured category, plus 16,000,000 oz inferred. The February 2026 definitive feasibility study, with a maiden probable reserve of 33 Moz of silver (12 Mt at 88 g/t), plans a shallow, contract-mined open pit with whole-ore cyanide leaching at 1.5 Mtpa over an 11-year mine life and, in its spot-linked base case at US$80/oz silver, shows a post-tax NPV8% of US$574.1M (AUD 832M) and a 78% IRR, with an all-in sustaining cost of US$27.39/oz. A mining lease application was targeted for the September 2026 quarter.