KCN is like a coin. One face is the TAFTA claim the other the...

KCN is like a coin. One face is the TAFTA claim the other the silver. The price action is dictated by which side of the coin the market is focused on. The Chile silver is payable at $US19, we are at $17.50

Outperformance in silver is driven by investment demand. There is a solid basis of "silver stackers" who make the LT investment demand . The stackers, and I am one with a stack of kilo koala coins, are looking for 200 to 300% returns before they sell down the stack. the reason is that if you stack at the low you just have to be patient and you will inevitably destack at much higher prices.Last time I destacked was 2011 and I started stacking again 18 months ago, doubling the stack on March 13 2020.

The buyers who take your stack are momentum based speculators. Without these buyers silver will not do the big move. When it moves the move is parabolic.

The next parabolic move will take silver to minimum US$40, but possibly US$60

At US$40 silver the Chile assets are worth minimum US$400million. LOM silver Production om the PFS was 46million ounces @ $20 margin is just under $1billion free cash before discounting/tax and before LOM gold production 275,000 ounces which adds another US400milion revenue