Dont worry too much about the current price action… just remember we have 52mil ounces of high grade shallow silver in the ground and counting … valued at around $1 per ounce, PFS suggests an asic of around AUD$17 per ounce. Silver is sitting at around $35 per ounce.
hopefully this capital raised will find significantly more ounces to make the project even more robust.
Every dollar silver goes up those inground ounces get more and more valuable… If Andrew can add more high grade ounces to the project with the capital raised it all becomes material by nature.
Silver is looking extremely bullish right now…
As a side note: I remembered degrey mining was raising money at sub 5cents… the sentiment in gold was pretty low at the time and I think management wanted to take risk out of the future, it made no sense as they had made a brilliant new discovery (hemi deposit) but nobody was interested in it… everyone was so disappointed and discouraged the forum was terribly dark, heaps sold out. (50 x worse then anything here). This happened immediately before the company got rerated, investors suddenly realised the potential and value in the ground the share price kept going up to 1.70 at the time, the CR and options all got washed away in the FOMO.
Markets make noise… if you truely believe Silver is undervalued and ready to be significantly revalued, your sitting in the right place… anyone selling at this price is being a bit emotional, we don’t have to worry about capital for at least 12months plus now … anyone who has waited this long should just hold on that pain is temporary.
look at the current SP as an opportunity to add to offset the dilution from the raise, your buying in at less then CR price.
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