updated valuation - silver developer, page-3

The most recent update was 18th June 2010 and indicated the $6.50 cash cost (up from the $6.25 quoted in 2009), net lead credits. The total cash cost I used in the calculation is 46% higher, I would say a pretty reasonable margin for error here, so not sure that a higher total cash cost is necessary at this point (or by start of mining later this year), but of course it will likely rise over the course of 5 years mining. So a more indepth valuation/model might take into account costs rising by say 5-10% per year.

Thanks for your thoughts!

Will be interesting to see how the share price holds up with weaker Silver prices (short term).