By the comments and posts since the resource release, it is pretty evident how impatient and ill-informed the Australian resource investor group is.
Anyone who is in the industry knows that MEASURED AND INDICATED resources are where the confidence lies; not inferred resources. If SVL had release 25 million ounces in the inferred category, they WILL NOT be able to do any pre-feasibility study. Protocol indicates that a firm needs their numbers in the indicated column to work out the numbers before proceeding to a bankable study.
They have also stated that a new round of drilling is scheduled to begin in April 2012, with 6,000m of it being pre-paid.
SVL needs time...they have approx 12 million ounces and 70% in the measured levels. With silver prices geared to increase with the rising gold price, patience is needed.
webbs project upgraded 400%., page-11
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