Can someone actually tell me how this trades at such an absurd...

Can someone actually tell me how this trades at such an absurd valuation?
SS1 trades at a massive premium, causing investors to be exposed to unnecessary risk as everything needs to go right to constitute its valuation/ market cap. SS1 has a decent size deposit but pre-strip will start at 100m + which will result in a massive cap ex. The project was set up for institutional gain from day one of the IPO. Grades of the existing deposit are sub-par to constitute what could be considered an economical deposit. There are much better leverage options to silver that include ARD and MMA.
Why investors would expose themselves to the sovereign risk is beyond me. Someone also tell me the last time the U.S condoned an ML in such jurisdiction.