Silver Mines Limited - SVL

[TheHunter]

Hi all,

Anyone here watching / holding SVL?


Largest undeveloped silver mine in Australia (current resource base of ~318 Moz Ag Eq)
Targeting initial production of 6m oz p.a @ estimated US$9 per oz
Considerable exploration potential with high grade extensions close to proposed mine
Final stages for mine development approvals


Just gone into trading halt regarding the final approvals for mine license, initial responses seemed positive overall so fingers crossed.

Potential highly leveraged play on silver price for 23, also part of VanEck Junior Gold Miners ETF.

Latest presentation:
https://www.silvermines.com.au/wp-content/uploads/2022/11/02597988.pdf

Mine license status:
https://pp.planningportal.nsw.gov.au/major-projects/projects/bowdens-silver-temp

[mistymountain]

Hi all,

Anyone here watching / holding SVL?


Largest undeveloped silver mine in Australia (current resource base of ~318 Moz Ag Eq)
Targeting initial production of 6m oz p.a @ estimated US$9 per oz
Considerable exploration potential with high grade extensions close to proposed mine
Final stages for mine development approvals


Just gone into trading halt regarding the final approvals for mine license, initial responses seemed positive overall so fingers crossed.

Potential highly leveraged play on silver price for 23, also part of VanEck Junior Gold Miners ETF.

Latest presentation:
https://www.silvermines.com.au/wp-content/uploads/2022/11/02597988.pdf

Mine license status:
https://pp.planningportal.nsw.gov.au/major-projects/projects/bowdens-silver-temp

Short Answer: Yes.

Disc: purchased small allocations 2021 / mid 2022 and larger parcel Mid December.

Am heartened to read your excellent post; validates my own thinking.

From a macro perspective Precious Metals an excellent hedge

[Watchful]

Been holding a handful since early this year. Definitely have the base resource there, hope we get to see this eventuate with production.

[TheHunter]

Favorable recommendation announced, looking ripe for license approval.

Agree resource base is definitely there plus optionality to eventually increase existing base.

Assuming license is granted, key driver will of course be Ag prices; really need a material increase in Ag price to get some significant operating leverage and consequently SVL SP really moving.

[ynot]

Potential turing point for Gold, Silver next year. Closing out 2022 on a strong note.

https://www.kitco.com/news/2022-12-30/Retail-investors-see-silver-prices-rallying-more-than-50-in-2023-to-38-an-ounce.html

[TheHunter]

Potential turing point for Gold, Silver next year. Closing out 2022 on a strong note.

https://www.kitco.com/news/2022-12-30/Retail-investors-see-silver-prices-rallying-more-than-50-in-2023-to-38-an-ounce.html

I understand the relevance but please keep this thread to being specifically related to SVL. Kitco surveying their own readers and is naturally biased, better off on the gold thread than here.

The SVL thread on Hot Copper has turned into gold bugs spam; it would be much appreciated to avoid that same fate here too.

Thanks!

[ynot]

I understand the relevance but please keep this thread to being specifically related to SVL. Kitco surveying their own readers and is naturally biased, better off on the gold thread than here.

The SVL thread on Hot Copper has turned into gold bugs spam; it would be much appreciated to avoid that same fate here too.

Thanks!
Apologies. Inappropriate on my part.

[TheHunter]

Apologies. Inappropriate on my part.

No stress! I have a pet hate for the SVL thread on HC :p


Back to the topic - this statement in the assessment report gives me some approval confidence:

"The Department also notes significance of the project’s resource, the increasing focus on minerals mining with decreasing reliance on coal and fossil fuels in the mining and energy sector and the associated growing demand for raw metals (including silver and zinc) due to urbanisation, electrification,a range of technological development and transition to renewable energies. The Department considers that the project would result in considerable economic benefits to the region and to the State of NSW through employment (up to 131 construction and up to 210 operational jobs) and royalties."

[TheHunter]

Final approvals expected in the next couple of weeks.

[TheHunter]

Latest updates:

- Bowden's mineral resource estimate upgraded to 396m Oz Ag Eq

- Addition of 190,000 Oz of gold to resource estimates

- Mine license approvals due next week (fingers crossed)

[mistymountain]

Latest updates:

- Bowden's mineral resource estimate upgraded to 396m Oz Ag Eq

- Addition of 190,000 Oz of gold to resource estimates

- Mine license approvals due next week (fingers crossed)

Great intel.... Feb was a top buying opportunity. SP got knocked back due to bank runs shaking out investors. Has been an almost 50% SP price appreciation since the lows.

Volatility does bring rewards.... Cheers

[JBmurc]

wow just looked to see SVL $280mill cap .... seen many a ASX Silver miner start off with great support to ht the wall in costs and eventually head into admin>> seems really hard to make a profit with the devils metal .. I see even overseas some of the primary producers costs chewing up much of the FCF ...

[TheHunter]

wow just looked to see SVL $280mill cap .... seen many a ASX Silver miner start off with great support to ht the wall in costs and eventually head into admin>> seems really hard to make a profit with the devils metal .. I see even overseas some of the primary producers costs chewing up much of the FCF ...

$350m MC now... Let's hope SVL's grades / timing make it more viable than the prior many.

We can now look forward to the updated feasibility study, which will incorporate the big increase in estimated resources.

[JBmurc]

$350m MC now... Let's hope SVL's grades / timing make it more viable than the prior many.

We can now look forward to the updated feasibility study, which will incorporate the big increase in estimated resources.

Yeah would be great if they could bring on profitable long life Silver Production.. I've only seen them fall over to date outside the Big major players

[TheHunter]

Yeah would be great if they could bring on profitable long life Silver Production.. I've only seen them fall over to date outside the Big major players

Ag price will be key, at the end of the day.

[TheHunter]

Latest presentation key takeaways:

- Optimisation study expected to be completed mid 2024
- FID late 2024

I look forward to seeing the outcome of the optimisation study, which will incorporate the increased resource, higher recovery and process improvements.