SVL has been range bound between 9.8-11 over the past few...

SVL has been range bound between 9.8-11 over the past few weeks.

Late last week in the midst of the latest market spat, SVL started getting some renewed interest at its resistance of 11 cents.

The Silver price has climbed above 20cents lb $AU.

The Company is due to update the market on a revised resource. They currently have 4.6million ounces of high grade silver.

The market will be looking for an indication that Webbs can comfortably develop into a 10million plus ounce resource over the comming exploration phase. Therefore a resource upgrade of between 30-40% at the same high grade will could be expected.

Should the Company produce a resource upgrade that exceeds this mark then SVL may attract some very serious attention.

The Company's current diluted market cap is approximately $10million giving Webbs Silver Project an enterprise value of less than $8million which is about 8% of the insitu silver value.

I would expect any positve news to cause SVL to break out above 12 cents.

Getting very close now!

IMO
DYOR