SVL - Silver Mines

[qldfrog]

The New Year's resolution of the judges presiding of the courts case that upheld the development consent objection is to 'not be morons' in 2025. Thus, the decision will be reversed in February and SVL will be off to the races.

Were you at the judge NY party Sean,?
"Not be a moron" does not not usually sit well with the job there...
Judges are often overpaid inflated heads, no liability or personal consequences jobs, with an ego bigger than their bxlls and they consider verbal joust a worthwhile activity a la toastmaster.
Who would not with their hourly rate...

 

[Dona Ferentes]

Judges are ....
Who would not with their hourly rate...

lawyers bill by hourly rate.

judges are appointed / annointed. it's not hourly rate, but annual salary, plus perks and per diems and super.

check out Vic rates, other states commensurate. Federals are even more coddled!

Judicial officer salaries

Information regarding judicial officer salaries in Victoria.

www.justice.vic.gov.au

 

[qldfrog]

lawyers bill by hourly rate.

judges are appointed / annointed. it's not hourly rate, but annual salary, plus perks and per diems and super.

check out Vic rates, other states commensurate. Federals are even more coddled!

Judicial officer salaries

Information regarding judicial officer salaries in Victoria.

www.justice.vic.gov.au

True, QC etc are.
One of the few jobs where you can be an absolute mess and have no liability: condemn an innocent, free a murderer who walk off the courthouse for revenge..nothing.
If you even raise an issue, contempt of the court and he she is always right.
I actually believe this is a core issue in our democracies and is leading the west to its downfall.
I understand the need for a separate power, independent of the government, not sure i have the solution but the current system does not work.
In the US, judges acceptance of futile claims makes medecine unaffordable, policing useless
In France , it is a red judges mafia; and here the most futile pretext can be used.
Judges should be replaced by AI based on laws, precedents should be challenged but i will not see that.
Should SVL sort its power line, mining will next be stopped because a kid in 1900 carved a tree and it becomes in 2025 an Aboriginal site of significance .
Mining in Australia is risky, less than Mali or Burkina Faso but not that great either

 

[Sean K]

Should SVL sort its power line, mining will next be stopped because a kid in 1900 carved a tree and it becomes in 2025 an Aboriginal site of significance .
Mining in Australia is risky, less than Mali or Burkina Faso but not that great either

Yes, slightly worried about what comes next, but every hoop was jumped through, except the power detail. If by some miracle the LNP get up the EDO will be abolished so that's another hurdle that will be overcome.

 

[mullokintyre]

Had a partial order filled today at 0.078.
Did not really expect it to get that low, but I'll take it.
Silver is still above 32, and likely to go much higher.
Based on the December quarterly, still have 8 quarters of cash left, so should not need a cap raise any time soon.
Unless they want to actually start something towards a mine if and when they get over the power issue, but hey we can't expect miracles!
Mick

 

[mullokintyre]

Going back through some of the announcements on SVL to try to gleam some additonal secret signs of what was going on.
Found this from last year.
The holders of the 9mill options won't be happy, though they may be freebie options vested with performance rights etc for the management and other insiders.
Anther 2.5 mill at the 30cents strike price due in a years time that will undoubtedly go the same way as the SVLA options.
Another 90 mill on the line for June 2026 wit the exercise price of 0.1196 might see the stock pushed up to capitalise on the option price.
Theres enough of them to make a concerted effort to make a buck.

Mick

 

[Dona Ferentes]

.

DRILLING COMMENCED AT THE ELSIENORA PROJECT​

Jo Battershill, Silver Mines Limited CEO, comments
“We are very excited to be commencing a diamond drilling program at this highly prospective gold project. Historical results from
previous explorers have firmed up the prospectivity and conceptualised correctly the potential for McPhillamys Style gold mineralisation. In our view, however, the historic drilling didn’t fully test the concept and our initial diamond drilling program should fill in some of those knowledge gaps. The extensive, and highly prospective Godolphin-Copperhannia Fault corridor remains vastly underexplored, and Silver Mines holds a commanding exploration package across this structure. We look forward to updating the market as the program progresses.”

 

[mullokintyre]

The half yearly accounts out, and contain an interesting section on the hold up at Bowdens to the Courts succefully upholding apprals to stymie the project.
After reading it three times, my reading is that the government has amended legilsation to effectively keep the project alive,
and is actively woring with the DPHI to get the mine approved under these new laws.
Has to be good got the project and the company.
it is interesting to note that prior to the untimely intervention by the courts, SVL spent the time between April and late July hovering between 15 and 20 cents.
This was during a time when Silver spent most of its time baround 31 bucks or lower.
Silver now nudging 33.70, one might expect that if approavl van be bypassing the courts, then SVL wou;d have some way to go up.
Mick

 

[Sean K]

The half yearly accounts out, and contain an interesting section on the hold up at Bowdens to the Courts succefully upholding apprals to stymie the project.
After reading it three times, my reading is that the government has amended legilsation to effectively keep the project alive,
and is actively woring with the DPHI to get the mine approved under these new laws.
Has to be good got the project and the company.
it is interesting to note that prior to the untimely intervention by the courts, SVL spent the time between April and late July hovering between 15 and 20 cents.
This was during a time when Silver spent most of its time baround 31 bucks or lower.
Silver now nudging 33.70, one might expect that if approavl van be bypassing the courts, then SVL wou;d have some way to go up.
Mick
View attachment 195321

Yep, I've taken a fairly big punt that this will eventually get approved, even if they had to start a new application with a power plan. They'll still need a power plan but getting the original DA approved should send it back to at least to where it was before the court upheld the appeal. So, all things being equal that's 15c. But with silver also breaking up and holding above 32 bucks it should go higher, as long as the general market doesn't implode further.

 

[outback]

So, all things being equal that's 15c. But with silver also breaking up and holding above 32 bucks it should go higher, as long as the general market doesn't implode further.

And they don't dilute further

 

[Sean K]

And they don't dilute further

They're going to have to unless they get some magical deal from Sprott/Lundin types who reneged on the last funding package. Not sure how they got out of that.

 

[Sean K]

We've hit a hurdle here, even while silver is going for a run. 13-15c is going to be a killer though. Really need some good news on the legal front. My ave price is 0.0932, so miraculously just in front.

 

[Sean K]

Three interesting indicators with sentiment here @mullokintyre

50 dma turning up.
Nudged through 200 dma.
Nudged through resistance across 10 - for the minute.

Probably should be with silver breaking out, but everything still hinges on this bloody DA being approved.

 

[mullokintyre]

Three interesting indicators with sentiment here @mullokintyre

50 dma turning up.
Nudged through 200 dma.
Nudged through resistance across 10 - for the minute.

Probably should be with silver breaking out, but everything still hinges on this bloody DA being approved.

View attachment 196290

I would want a spike in volume for a few days before I get too excited.
Mick

 

[Sean K]

Picked in the monthly comp. Hoping the silver break out continues as the bullion banks seemed to have let it slip through 33 bucks. But, that's happened before. Maybe some news on the DA as well.

 

[mullokintyre]

SVL pit out an investors presentation.
Nothing in it we did not know before, and nothing at all mentioned about the most important issue, what is happening with the BHI and the revised power line plan.
SVL down today when my other silver plays up.
Mick

 

[Sean K]

I wonder why it's taken five months to put in this application?

Maybe it's been sitting in someone's out box and they forgot to mail it.

 

[mullokintyre]

I wonder why it's taken five months to put in this application?

Maybe it's been sitting in someone's out box and they forgot to mail it.

View attachment 197622

They said in a previous missive that they working with the DPHI to get the best outcome.
I bet they have been making sure that the DPHI were happy with the application before submitting it.
Not saying it will be a formality, but they are hoping that there are no further grounds for appeal.
Mick

 

[Sean K]

They said in a previous missive that they working with the DPHI to get the best outcome.
I bet they have been making sure that the DPHI were happy with the application before submitting it.
Not saying it will be a formality, but they are hoping that there are no further grounds for appeal.
Mic

I'm inclined to agree with your astute analysis Mick.

Hopefully the DA minus the power plan gets approved at the same time POS flies off to the moon.