not a circumspect comp - TMZ is seeking to capture a low...

not a circumspect comp - TMZ is seeking to capture a low information investor base

but again with the comping of minority silvers with primarily silvers at a resource level

if you want a true value comp for silver stocks then you can only validly do it on a Ag only ev/oz basis - or Au/Ags for projects with both

Ag eq is a good pointer to implied profitability vs peers at assumed static metal prices and currency

It is a poor pointer to implied silver price optionality for non primary silver projects

MCT's AB for eg is a monster resource - but its Zinc dominant + goes 1.6km deep. even if zinc price got high enough to operationalise - a massive if - were it to recover 40% of its silver I would be shocked.

Apples aint oranges