Maybe it is time to buy more SVL!, page-42

if you model the pfs inputs you will learn a lot more than here

you need to examine the relationship between audusd, silver ag, and then operating leverage

at $25aud silver you have a good business case worth developing at $30aud it becomes very attractive

your medium term $usd AG and audusd assumptions will determine whether you see this as a mountain or a molehill chart

the other factor with a large lower grade resource moat is that the business case can often improve significantly with higher lt price assumptions

ie they can elect to mine/mill more at better economies of scale because 2/3rds of the resource is untapped- increasing annual and total output esp in the key mine capex payback period - which then massively lifts irr and lowers balance sheet risk

the critical issue is to accurately assess what the 4-5yr avg aud silver price will be

those investment return pfs assumptions are simply a guide - developed for a mild aud silver market

if you think for eg a +$us30 silver price and sub $0.75cusdaud is a base case over next 4-5yrs - then the pfs financial outputs vanish in the rearview and you are looking at monster returns - just under the pfs mine/mill assumptions without changes to output