Hi tinhat, I really like this considered and thorough analysis.i...

Hi tinhat, I really like this considered and thorough analysis.

i myself am not well versed in all things Ag (or anything Ag quite frankly), but I'd be interested in your thoughts given the passage of time since you posted this.

sure, I can simply look at SP variance since you posted this, but I'm not across matters such as stock dilution (my understanding is SVL has but ADT and MMA have not).

it would seem SVL have made slow, but clear, progress whilst presumably ADT is a good way beyond 78% completion, to the point where commissioning and production may be more readily predicted.

for me, that's why I like the appeal of ADT....this recent spike in Ag price is largely immaterial if you're not extracting the stuff to sell. Presumably SVL are 3 years from first revenues (with a moderate confidence level) whereas MMA is several years off (with a low confidence level).

I stumbled upon your post whilst examining the upcoming sun silver IPO.

cheers

foibles