The issue here is you have confused quite a few things.Firstly...

The issue here is you have confused quite a few things.

Firstly Cash Flow vs. Profit
It isn't uncommon to have these two terms confused because they seem very similar. Cash flow is the money that goes in and out of a business.Profit, on the other hand, is specifically used to measure a company's financial success or how much money it makes overall. This is the amount of money that is left after a company pays off all its obligations.

Secondly for IVR:
Lets have a look at what % IVR used in their base case financial forecasts.
The Production Target underpinning the (Base Case) comprises 83% Indicated Resources and 17% Inferred Resources. So financial forecasts are based on 83% indicated.
Production Target mining 8.6Mt of ore (~83% Indicated and 17% Inferred Resource) producing 26.7Moz
Their total resource estimate is 53.1 million ounces (“Moz”)

SVL
The Project contains a JORC Measured, Indicated and Inferred Resources of 128 Million tonnes equivalent to 275 million ounces Ag Eq
Proven and Probable Ore Reserve of 29.9 Million tonnes equivalent to 52.91moz
Proved Reserves represent 95.7% of the production profile while Probable Reserves represent 4.3% of the production profile.

So of course SVL and IVR are going to look similar on paper. SVL used a much higher resource confidence for their feasibility study using 1/5 of their total JORC resource. If SVL used the indicated and inferred like IVR did they would have significantly improved project economics. This is also not taking into account the fact SVL have an underground operation resource expansion.

AISC:
SVL LOM AISC of A$17.25 /oz Ag
IVR LOM AISC of A$17.45/oz Ag

Summary:
So IVR have the same AISC but a vastly smaller resource, which will result in significantly reduced profitability versus their peers. Shorter mine life is absolutly not a positive I spoke to Andrew he, said himself that a 10 year mine life is the goal. You are assuming IVR will operate over 2.2 good years of silver but what if the price falls for 5 years or so until rising again. They will be finished while SVL will have 2/3 of their resource to go.

IVR lack lead and zinc in sufficent quantities compared to other projects like Boab, SVL, etc.

I am a happy with IVRs progress. The AISC is lower than expected and the location is ideal, but lets not fool ourselves... This project needs to 3x its resource size and then it will be a competitive silver project of scale and I would not consider this to be Australias tier 1 silver project until the resource is larger.