"They need those satellite deposits to be big and easily defined...

"They need those satellite deposits to be big and easily defined and included in the DFS. "

Exactly - and thats going to take longer than 6 months because even if they started drilling tomorrow and had immediate exploration success, it would probably take 6-12 months to do enough drilling to prove it up to a resource that could be defined and used in a feasibility study or even the lowest form of study like a desktop scoping study.

Contract mining rates aren't going down by 25-50% in 6 months time and if they did then that would mean that all commodity prices would have tanked including silver making the project unviable anyway at lower silver prices.

One other possibility is that some sort of royalty streaming or finance offtake deal is possible waiting in the wings, but the problem is that these sort of deals nearly always end in a "heads I win, tails you lose" deal where the offtake partner pulls the rug and gets the asset for free. See numerous examples on the ASX for this case in the last few years of ramp-ups during and post-Covid.

So the thesis would seem to be that World War 3 breaks out or some other economic black swan like a GFC or trade war happens in the next 6 months and sends silver prices to the moon. Not really a sensible strategy in my view.

I get it that IVR would be reluctant to say something as blatant as Paris is unviable until silver prices hit $ X per Oz but any potential acquirers and the market itself can read between the lines and form their own conclusions about the metal price sensitivity of Paris. IVR would have that sensitivity analysis from the consultants with metal prices, diesel prices, cost of capital, construction costs, mine operating and mine contracting costs, power prices etc etc all built in. For a new project with ramp-up risks you need all these variables to be at least a green light plus a margin of error in case one of them goes against you while the project is being built.