Silver had to go down eventually was overbought on the RSI and was crushing it upwards almost non stop from $21, just over 20% in a month. I have no problem with it settling at $25 and then relaunching back to $30 next time everyone realises these higher oil prices will cause huge inflation. SVL also still has a great pipeline of annoucements for the year so quite keen to see it above 30c soon.
And for the people worried about local opposition forget the state government already awarded SVL major project status when that opposition was in full swing. No mine has ever not had local opposition. If a mine has no locals nearby it probably also has no water, infrastructure or electricty. The sort of things towns have nearby. And no State Government wants to be the ones to tell Mudgee a town of 10,000 and a growing rural hub that they are going to have no jobs after the coal mines close.
SVL Price at posting:
25.0¢ Sentiment: None Disclosure: Held
