Sooner or later supply demand fundamentals have to take over from paper manipulation. We all know what demand is going to look like ahead, but anyone watching the supply side of the equation like this kinda news ?
Silver production in Peru down 9.8% in March 2022, ministry says | ***** NewsThe other thing one needs to remember is we are concerned with AUD price of silver and that's sitting at 30 bucks an ounce.
Sure, market is concerned where our next tranche of working capital is coming from and at what price, as all we did with last was reverse a previous bad deal for no net input effect, but da boyz would be working on that Q now. Plus it's good we have our own shareholders running the drill rigs so there can be flexibility there, as we have seen in the past with early days of drilling at Harry and Bygoo. From memory, payment was then usually made in shares at a premium to market price.
So for mine, this is now at fire-sale prices and weakening AUD will keep a floor intact I suspect, So have to be happy to be able to restock again at such ridiculous MC given I am still a pms bull and starting to believe that once silver starts moving on fundamentals, it will leave gold behind on relativities.
Noted also an article on Sto**head this morn from which I snipped this bit :
******Meanwhile, White Rock Minerals’ (ASX:WRM) portfolio includes the Mt Carrington gold-silver mine in northern NSW, where Thomson Resources (ASX:TMZ) entered into an earn-in and JV agreement back in 2021.
WRM has so far defined a shallow indicated and inferred resource totalling
341,000oz gold and 23.2 million ounces of silver.TMZ holds a diverse portfolio of mineral tenements across gold, silver, and tin in NSW and QLD with its primary focus being on the ‘Ford Belt Hub and Spoke’.
The company’s strategy has been to create a large precious (silver-gold) base and technology metal (zinc-lead-copper-tin) resource hub that could be developed and potentially centrally processed.
All key projects have been acquired in a short four-month period including the Webbs and Conrad Silver Projects, Mt Carrington, the Texas Silver Project and the Hortons Gold
Meanwhile, White Rock Minerals’ (ASX:WRM) portfolio includes the Mt Carrington gold-silver mine in northern NSW, where Thomson Resources (ASX:TMZ) entered into an earn-in and JV agreement back in 2021.WRM has so far defined a shallow indicated and inferred resource totalling 341,000oz gold and 23.2 million ounces of silver.TMZ holds a diverse portfolio of mineral tenements across gold, silver, and tin in NSW and QLD with its primary focus being on the ‘Ford Belt Hub and Spoke’.The company’s strategy has been to create a large precious (silver-gold) base and technology metal (zinc-lead-copper-tin) resource hub that could be developed and potentially centrally processed.All key projects have been acquired in a short four-month period including the Webbs and Conrad Silver Projects, Mt Carrington, the Texas Silver Project and the Hortons Gold Proejct.Project.*******
Didyas know of the already defined gold and silver resource at Mt Carrington we are progressively earning into? I think 70 pct is the deal and we the operators, sitting inside our NEFB hub? I think PFS at least has already been done as resource is already at indicated and inferred status, tho still has to be checked under our banner before can be added to current tally, as also with Webbs, in progress. That's a nice bit of gold too, and the regional potential is significant. (Talk about Hortons up the road later but u shld take a squizz at past grades. Previous owners wanted a processing plant inside a national forest, we wont need one, ours is outside at Texas on an existing ML down the road.)
So lets focus on our wonderful asset base with so much more to come, in the LFB likely-to--be new hub around Bygoo my call, as our Tin resource emerges and a private plant on existing ML sits inside our Ardlethan EL, and lest we forget, them exciting northern Qld leases with 2 x 700m mineralised strikes already defined.
AUD 20 mill bucks MC is ridiculously cheap any way u look at it.
Hence am happy to keep sniping yr loose offerings before they dry up in advance of stage 2 of our evolution ahead.
OWEPOC
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