SILVER MINES: Trading at 18.5c mid-week for a market cap of $260m. This one is well known to * readers and as it has a 318M oz silver equivalent resource under its belt at Bowdens near Mudgee in NSW, it is an obvious beneficiary of the rising silver price.
Things are about to get real interesting though on two-fronts – an expected resource update, and the receipt of final approvals from the NSW government for a $246m development of Bowdens, initially as a 6Moz a year silver equivalent producer.
The resource update will be welcome for sure. But it will be final approvals for the Bowdens development that could really fire things up. It is known that American investors – they are mad keen on silver wherever it is in the world – have been standing aside waiting for the final approval to be in the bag.
So it is not one but two re-rating events for Silver Mines in coming days, most likely before Easter at any rate.
SVL Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
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