valuation metrics of svl, page-29

Exactly.

It is usually the producers that get rerated initially. The companies that have low cash costs to extraction and those that are able to dilute their resources into lower grades to make maximum profit will be rerated higher.

The majors will then have enough cash in their coffers to increase their resource base by acquisitions and takeovers. This is known in the resource investment circle as the "PACMAN" phase. We are already observing this happening in the Gold arena, albeit it is still early days. The high quality juniors with HIGH GRADES, SHALLOW SURFACE and BETTER COST CHARACTERISTICS will be watched closely.

SVL, in silver, is the number one play for me in the ASX for a takeover or acquisition. One has to realise that only 5% of juniors actually build a mine and extract their resources...the goals of most junior company reps is in exploring, proving up their resources and establishing continuity in their mineralisations. Therefore, rerating their Market caps and putting it on the radar of the mid-tiers and majors.

I will be accumulating SVL...