silver spot at $38.00, page-4

Toll,
you are underestimating the power of sentiment and a rush to hard asset backed plays. There is difference between putting one's hard earned into a financial play as opposed to asset backed stocks. That is, there is an underlying commodity that sits in its treasury whilst the other looks at just productivity and cost based management.

In the last mania phase of gold and silver, stocks rose up to stratospheric levels as a bank run began and investors flooded the precious metals markets. Although many are doubting this will ever happen, one look at the charts of gold and silver show that they have been rising year on year for the last decade. Secular bull markets do not end with a fizz...they top with a euphoric mania. I do recall numerous plays that went from 30cps to 250 dollars in the space of 3 months..as such i am not prepared to foresake those profits again. Fortunes were made then and will be made in the near future.

Aside, insiders have already positioned themselves well. Most of the big players have left the markets and bought bullion and precious metal stocks. With only 3 pure silver plays on the ASX, we are in a very unique situation. The fundamentals and macro environment could not be better.

Indeed, there is a chance that the silver price would not hit historical levels...but are you willing to risk that it will not happen. Even at $50 silver, the economics will be extremely fruitful for silver plays. With SVL on track to meet circa 35-50 million ounces and a high grade deposit with an ever expanding tenement position, i am certainly not going to be left out.

At some point, there will be a run to the precious metals plays. If the hedge funds and institutions try to get into a tightly held register, we will head to much higher levels. Actually, i think the accumulation is already happening.

The reward far outweighs the risks for me. This doesn't need to head to production...a new resource upgrade and some scoping study figures should do the trick.