Silver seats going to be hard to find, page-154

On LivewireMarkets today - for me explains a lot re SVL price - and wokeness in Aus.:
Silver on the ASX – everything you need to know (and our #1 micro-cap pick) - Luke Laretive | Livewire (livewiremarkets.com)

HOW TO PLAY SILVER ON THE ASX?

Unfortunately, the ASX has been a graveyard for silver companies, and pure-play silver companies are rare.

There's South32 (ASX: S32) with its Cannington mine, but S32 is more of a diversified base metals play, rather than a leveraged silver play and has had its fair share of struggles. Most recently, the company withdrew its Australian manganese production guidance following Cyclone Megan, ravaging its pipeline and manganese loading port. While S32 does offer exposure to silver, the economics of its Hermosa Taylor zinc/lead/silver project look challenging, at least at current silver prices.

Beyond S32, there's Silver Mines (ASX: SVL) and its Bowdens asset in NSW - though in our view, that project is unlikely to get permitted. Nonetheless, SVL trades at a hefty premium to peers by virtue of being the largest, most liquid pure-play silver mine on the ASX.