except its a historically low price for gold and silver relative...

except its a historically low price for gold and silver relative to most other asset classes

the gold/dow ratio has rarely been lower and the global commodity index is still in the lowest tercile its been in 20+ years

which isnt to say they cant fall from here - but it does suggest the probabilities are both gold and silver prices will rise from here on a trend basis

in 2013 wonawinta was expected to have a $25aud silver only cash cost to produce 1.3Moz. dont know the head grade.

Currently we're at ~$35aud silver

but my view is - you only ever want to own any PM miner exposures if you think the PM trend is sideways or up

id see your point if it was trading high value vs its tandible asset base - like SVL, IVR etc

but mkr is already heavily discounted precisely because of the concern you have - and its actually cashflow positive currently. The others are negative

svl is a 40g/t resource requiring $400m+ capex to get up - so unless you are opining on it, ard, ivr - Im not clear what is triggering this thought process on the specific stock?

if you think mkr is marginal here - you just shouldnt hold it and youd have to sell at speed stocks like slr, ivr, svl, ard etc

because they would be far more marginal than mkr and vulnberable from a valuation/sp perspective

SVL is $230M mkt cap - largely on institutional buying of the resource value.

resource valuation is not understood by retail generally - they do not know how its priced.

ARD is $40M mkt cap - with 33Moz at 38g/tAg and some zinc


but i do agree understanding reversion and cashflow risk are important. just not to this stock solely