No Boab presentation at Diggers and Dealers, page-63

Punching your 30% reduction using current spot for lead into my spreadsheet shows that BML & IVR would have similar revenue. I do however disagree with your comparison of BML to ADT. Yes, ADT only has 31% silver resource but it also has over 20% gold resource making 53% PM resource. The companies getting all of the love appear to have 30% to 40% silver but added to their gold the PM percentage climbs to 50%-60% as a minimum. This is after all, an early-stage PM bull market. Commodities normally follow later. I'm hoping that BML at least triples in the coming months if we get the $40 to $50 silver that everyone expects and that is mainly due to the fact that the company is so undervalued.

I have posted my spreadsheet that shows the companies that I track that have completed PFS, FS, DFS or in BMLs case Feed study.

The bottom 6 lines are what people should be looking at and the lines highlighted in black are taken from the individual companies latest updated studies.

Things to note!

1. The revenue calculation, the physical silver production and the silver Eq production are calculated by the reserves that were used for the studies divided by the projects LOM. So companies that front load the high grade silver at the commencement of the project will promote higher physical silver production in the initial years in their respective studies and taper away in the latter years. For ease, I have chosen to average all production over the LOM. SVL has done this and announced 5M oz of silver production for the first 5 years.

2. SVL's figures come from an outdated 2018 FS. I suspect a DFS will come at some stage in the future. Maybe they are waiting for the state/federal project approval.

3. BML is only showing their 75% interest. If you want the project figures then multiply by 1.25. The Metal value per MRE ton is for the entire project, as is the strip ratio.

4. IVR will release a FS in the coming months which updates their current PFS.