(ps started this posting early today---hope it is not out too much)
Something is wrong really wrong.
The Coy is a sitting duck at $0.06c per share, for some Company to get good long term value for a pittance.
Looking at pure figures (back of envelope style)
I am aware there are many factors that have to be taken into consideration and the figures are -just 'figures'.
53Moz Ag + 98kt Pb - JORC (2012) Resource (ann Nov 2021 )
Ag 53,000,000 oz x $ 33.51 = $1,776,030,000
Pb 98,000 kt x $3,249.00 = $ 318,402,000
Total in ground value $2,094,432,000IVR's MC $78,600,000 is 3.8% of the 'in ground value' (igvalue) of the resource.
The resource is:-
-close to the surface
-has a high oz per ton ratio
Let us say:-
- 50% of the igvalue is $1,047,216,000 - and the MC is then 7.5% of the igvalue
- 35% ....... $ 733,051,200 - and the MC is then 10.7% of the igvalue
A company looking for a good resource must have IVR under the microscope. The resource is identified - so no drilling costs etc. Would one consider it as a 'rich resource? '....I wonder what is between -close to the current drill holes- more or less ? How much did IVR spend on getting the resource to this stage? The latter is a huge plus for a resource Coy wanting to buy, in my opinion.
Goldie did someone say the Big USA Banks may be trying to keep the price of silver down - no !!!
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