adamkent, to answer your question. Firstly Argent is an exploration company and IMO we need to consider that the principal goal is identifying an economic poly metallic deposit with an emphasis on zinc. Now it is not just Argent management who think they are on the cusp of a significant zinc discovery.Consider the opinion of Dr Ross large who is one of the foremost authorities on VMS deposits in Australia and who has expressed firm conviction that Kempfield is a typical Eastern Australian Palaeozoic VMS deposit similar to Que River (which had average zinc grades around 12%,lead around 7% and with high gold and silver credits as well.
View attachment 63346
Now also remember that outside of the immediate area around Kalgoorlie the Lachlan Orogen is the most prolific highly mineralized area of Australia with a long history of discoveries of sizeable Pb,Zn,Cu and gold deposits.
Worth remembering too Argent have a 52 million ounce silver equivalent resource (JORC 2012) at Kempfield where a mining licence application and Environmental Impact Statement are still in progress . In the last 6 months the price of silver has varied between US $16- $19 and at an exchange rate of the mid point of $17 that is worth around $22.60 .It only needs the price of an ounce of silver to move up around the US$22 level ( A$29.33) for a heap leach operation to process the silver to become profitable.
Throw into the mix the West Wyalong ground where the potential exists for a substantial discovery of a large porphyry gold and copper deposit and one can see where the potential lies for substantial returns for Argent shareholders.
In the meantime the nature of exploration is what it is ,a long drawn out process. It is worth doing some reading on Kidd Creek Mine and how the first explorers missed out on that huge discovery.It took persistence and belief to make that discovery and IMO Argent management and technical teams have the required persistence and absolute conviction they are on to something special to achieve success at Kempfield
(20min delay)