Updated silver stock comps, page-14

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davidle

7,389 Posts.

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21/02/21

16:00

Post #: 51193500
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Originally posted by goldbear77: ↑

yes all depends what one is buying for

generally microcaps reflect tradeability factors you mention as much as they do fundamental underpinnings

but when there is a really significant metal breakout phase the biggest % moves are in the assets that are biggest +cheapest regardless of sp/oppies on issue etc

thats where RDM comes into frame - priced 1/10th of SVL/ 60% of TMZ/ 30% of IVR with a better project but one you dont know would work sub $US30silver because its 500m deep.

But once market starts thinking about a +US40 Silver world - that flips.

BML is likely another one - 2nd biggest near surface silver project in Aus currently - trading 40% discount to the others sub $120m EVs

Fact BML trades 40% discount to ARD is a serious market inefficiency - because ARD's Kempfield is currently a majority Zinc project - not silver. So its basically the equivalent of BML

But both projects will end up being majority silver value i expect over the next few years - ARD before BML simply because ARD's zinc is a lot lower grade than BML's lead

MKR is one I see little talk about on this forum but it may in fact be almost the cheapest play in a sense - its got an actual 850kt throughput mill thats worth probably $120m to build new now + 52Moz silver stockpile that was mined back in 2012/13 before silver price crashed

They have been mining gold but are flipping to processing the silver stockpile from July - target 900koz july to dec Silver production then 2Moz 2022-2025CY

So MKR has as much silver stockpiled as IVR has in the ground + a built mine - and is basically trading at half IVR's implied valuation - if I assume the mill is worth $100m

But if I had to pick only one atm it would be RDM.

thats the one that represents the most real TNT/share and the one I think is probably least on the general market's radar

and its when the general market comes in for the stocks that we already know well and own that you see the truly big moves like 2016 - bigger than the traderbros deliver with their pumpndumps alone

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great analysis

I'll surely spend time reading them

I think it's due for another re-rate

it's between copper and silver, not sure which one is going first
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Updated silver stock comps, page-14

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