I have to laugh at some of the silver wanna be stocks on silver equivalent gradesThere was an article today about a proposed new listing quoting it had a resource of silver equivalent 292m Oz at 72.4g/t.
ADT has grade silver equivalent grade of 387g/t (from DFS) about 5.5 times the grade of the wanna be.
SVL which has a fairly big silver equivalent resource of 396m Oz only has a silver equivalent grade of 62g/t which is only about one sixth the grade of ADT’s resource.
USL has an equivalent silver resource and grade of 91m Oz and 162g/t - a much smaller resource but a much better grade but still only 40% the grade of ADT’s.
ADT’s resource from the DFS is 149m Oz but that has now about doubled based on the last update to about 300m Oz with a lower grade. The latest 2023 MRE silver only grade is 156g/t excluding all the other metals is more than double the Ag equivalent of USL and the IPO stock and about the same as USL.
The ADT resource size is going to increase probably a lot over time. Note the Zn equivalent zinc grade from the 2020 MRE from the DFS is 16.1% and will be a bit less than this based on the 2023 updated MRE.
ADT has a very high quality resource which stands far above all the comparisons above. I speculate that the MRE will at least double over future years. Rick Rule recently stated that deposits like ADT’s come in clusters so expect a lot more resources but whose knows what grade will be achieved from the additional resources.
ADT Price at posting:
$4.57 Sentiment: Buy Disclosure: Held
