So as the Silver price has bounced 8.1% so I thought I would get...

So as the Silver price has bounced 8.1% so I thought I would get my model out and work a valuation again.


Using

Silver at $23.62
Production at 700,000 Oz Average of 5 years (NO RESOURCE UPSIDE FACTORED IN) and no gold. so add value there.

Grade at 50% of what the company estimates – so $148.50 g/t

Capex at $66M

5 years of production only

I get $0.73 per share, curent price...$0.28.

Im buying more.

So what do you think the red kite guys will do when they see that valuation and the silver price.


Best guess
They will make a decision that makes sense, take an equity position plus finance the operation.