I think if silver can hold $30AUD for a period then their current resource makes for a viable mine in it's own right. But as it stands I don’t think they have enough of a clear stand out resource in their mix, as their silver JORC compliant resource is a combination of multiple elements (zinc, gold etc.) to make up an ‘equivalent’ resource. I’d prefer it to be a more defined single element.
I think if they hit some decent grades of silver in this next batch of 5 holes to come out (due any day now), nothing massive, but show a consistent sign of improvement. That will build on their JORC resource and show the market that they are heading in the right direction with their drilling strategy. It would also build more confidence in the current management and it will continue it’s recent climb.
Have they announced when they’re going to produce an updated JORC?
ARD Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
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