Another chart below that I posted on the BML forum on March 25th...

Another chart below that I posted on the BML forum on March 25th showing my Elliott Wave Count for silver. Silver appears to be following this roadmap. Should the brown wave (iv) not retrace as low as indicated on the chart, then that means the impending circle wave iii & v could complete higher. Once this magenta wave (3) completes, we should get a wave (4) pull back which I suspect may coincide with a very large correction in world markets. I am of the opinion that the stock market will continue higher and any large correction would coincide with an EW decline in precious metals.

Now I posted the below chart to sort of answer @Foibles above question that he/she sees no value in companies that are not close to mining. From an EW perspective, magenta wave (1) completed in Feb 2021. When wave (1) completed, SVL had 1.026B shares on issue and reached a share price of 36.5c making SVL's market cap A$375M at the time. For information, as of today SVL has 1.464B shares on issue, so over the last 3 years they have diluted the share capital base by 40%. Obviously they have increased the resource and made inroads into mining but none of this has any relevance to what I am trying to say.

Anyone that follows EW theory are fully aware that wave 3's on the balance of probabilities are the most powerful waves. One of the not to be broken rules is that wave 3's cannot be the shortest wave out of wave's 1,3 & 5. Commodities are renown for having blow off tops, meaning that they get extended wave 5's. Wave 5's are where all of the bottom drawer penny dreadfuls start to outperform because all of the other commodity companies are too over priced in comparison. We are starting to see the large and mid tier miners move and starting to see movement in the higher end of the speculative end of the market. Once we get a break above $30 in silver which confirms wave (v) of circle iii has started, we should start to see a melt up in the IVR's, SVL's etc which will continue until circle wave v of (3) completes.

Now the reason for this long winded response is more or less to place a possible valuation on MMA. Just for information, MMA have a lot larger silver equivalent resource than SVL and grades roughly 5 times higher but that is irrelevant. If we assume that MMA could reach the dizzy market cap that SVL reached at the peak of wave (1) in 2021, then even accounting for all of the 2024 options on issue being exercised and increasing the share on issue to 225M shares, MMA would need to trade at $1.67 to reach a A$375M market capitalisation. Now I would be totally bamboozled if ADT could trade at A$20 at the same time.