Best exploration upside: SVL (Silver Mines Limited) by far....

Best exploration upside: SVL (Silver Mines Limited) by far. Hitting grades up to 3730g/t Ag from last set of diamond core results with a current JORC of 10M oz. When these results are incorporated into the upcoming resource model (due within two months) with additional RC drilling they expect to increase this to at least 37M oz and it has significant potential to go beyond 60M oz. All this for an EV of 30M and fully funded for further drilling. Furthermore, there has been no correlation between the POS and the SP for the last 6 months as the market has not priced in higher longer term silver prices. When compared to the likes of CCU and AYN there is a lot of catching up to do in this stock.

Best production upside: CCU (Cobar Consolidated Resources Limited). Cash costs per oz are around $10 and this drops off to around $6.50 when lead recovery credits are factored in which would definitely place CCU in the lower band of the cost-production curve. Production of 2.5MT/pa is targeted to begin near the end of this year and will give the company massive amounts of excess cash to prove up more resources in the area and hunt for possible silver acquisitions/exploration leases. Even though the stock has absolutely rocketed over the past 18 months or so there is definitely significant potential here.

Disclosure: I hold SVL