USD Silver Price, page-213

Very interesting post and point of view of valuation of Ag based on Au equivalent at a GSR of15:1

BTW - the goldnerds dot com spreadsheet provides information on Ag ASX plays at Au equivalent. You can perform calculations at any price including market or a 15:1 ratio.

Based on closing prices Friday and 70% of all metals being mineable the EV/Au equivalent picture looks like this -


Using the GSR 15:1 the graphs look like this....


What would be interesting then is to compare these EV/Au eq values to Gold Developers on the ASX.

Here is the comparison with a selection of Au Developers at CURRENT MARKET PRICES -


Au companies coloured gold and Ag silver.

And the same as above but when using the GSR 15:1 -


Some immediate observations -
As the Ag price rises relative to Au, the ASX silver plays become more clearly undervalued than their gold developer peers.

At lower Ag prices the base metal companies with silver optionality, such as MYL and PMY represent better value at current share prices than the pure silver plays such as SVL.

The gap closes progressively as the Gold Silver Ratio shrinks....in the above example you can see the effect of the GSR at 15:1. SVL and PMY have similiar values, MYL remains undervalued compared to both.

Best
V

@davidevansau