Silver still dropping despite the assistance of the weakening...

Silver still dropping despite the assistance of the weakening aus dollar. Lead making some gains but appears to be rounding off.

No news until the FEED study (due Q4), mobilisation of drill rigs to site (end Q3) and activation share facility (start Q1 24/25). No real near term catalysts.

Initial drilling started 28/07/22
completed 18/10 (2.5 months)
First Results 29/12 (5 months)
Final Results 23/01 (6 months)

Recent drilling 16/06/23
60% complete 12/07 (1 month)
complete 29/08 (2.5 months)
Results 08/11 (5 months)

Looks like the boys try to push drilling out until after the first rush of rigs - likely to get a better price. Aside from successful off takes (non- binding) or funding (hard to see in the current price climate) there isn't likely to be a share price catalyst until the start of Q2 24/5 as a best case. This does mean that the share facility is less likely to be used until later in the year and its dilution effect will more or less be driven by overall market sentiment and the price of silver.