@davidletmz is good but know that its a bit overpriced notionally on its 20Moz of silver in 2 different deposits. though i do really like that lachlan fold belt gold project of theirs
@15.5c TMZ is trading at $2.12 EV/silver ounce. thats in line with IVR - and TMX is nowhere near as likely to be a silver miner as IVR unless one of its silver projects gets increased about 4x minimum
at this stage though there'll be a lot of relatively uneducated money that thinks its 35Moz of silver - when 15Moz of that is zinc/lead
RDM is probably one to look at atm - if you see a wave that moves silver sustainably above $30 then the market will start looking for value in scale of ounces and be less focussed on pure grade - and RDM's Maronan actually has both but its 500m deep - which has a similar effect to lowering its grade in market's eyes - ie less certain how economic it might be
but if silver does go above $US50 that Maronan project will flip from too deep to be readily economic to - holy cow batman no brainer
though i doubt theyll do more drilling until that becomes obvious
its same as in gold - highest grade initially attracts traders and retail mum and dad - because they dont understand mine math
- but the higher prices go the more profitable projects are the largest ounce ones - regardless of grade. every ounce is worth the same amount - higher the silver price goes the closer it comes to every ounce being able to be economically mined
its why Regis Resources was the No 1 gold stock 02-12 despite mining 0.5g/t gold when you had plenty of goldies mining 3-5g/t gold that did far less well
thats why big gold porphry's are often wonderful investments - 100s of metres at 0.5-1.2g/t
(this is also why insto investors will go from dubious to enthralled with SVL's project)
put it another way - TMZ's 2 projects are 35Moz Silver eq - RDM's one project is 328Moz silver eq - with silver the same grade as IVR's current full 16Mt resource
but its never entirely predictable how investors will behave.
there are certainly much cheaper silver ounces than TMZ and likely IVR even after its ever promised Resource upgrade
