They got Manbarrum for a song. Its low grades and distance from Sorby Hills would make it uneconomic to consider developing mines there in the short to medium term. How ever exploration might turn up some high grade deposits. Another possibility is ore sorting technology could make existing discoveries worth while. Ore sorting tech is already proven and will only get better. That technology will probably have major benefits for Boab over the mine life.
The project is probably moving forward as well as can be expected. Results of the latest drilling program must be close. Current silver prices and economic uncertainty are negatives for share values. Most likely the cost of developing the mine will be significantly higher than the $183m predicted in the PFS. But most probably the returns will also improve.
I will continue to hold, though I might need to sell down some shares to pay bills. I got greedy and bought all I could. I am aprehensive the share values could deteriorate further, but barring some calamity think ultimately the company is worth many times todays prices, and a rerating should be underway before the mine opens in late 2023.
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