Ann: Bowdens Silver Project Appeal Proceedings Outcome, page-200

Not sure where the bottom is, but it depends on who is selling. The below spreadsheet shows silver companies with Jorc resources. EV of $60M to $70M is where the higher priced competitors sit and may be a potential target today.

Now, if silver breaks out and the silver stocks get a bid similar to 2020, then I would speculate that companies silver resources could be valued at $2.34oz for silver resources. The Nth American silver companies reached these valuations in 2021 when silver topped at $30. I am referring to silver only ounces valuation. See second post which shows asx company details and concentrate on the green highlighted columns and below that a copy of a Nth American spreadsheet from Feb 2022.

SVL's silver resources are currently valued at US$0.38c.