SVL - Silver Mines

[noirua]

Look at post #169
In February , the board did a massive SPP dilution, but only between peers, no share holders access
It is as crook a board as a board can be , only IMHO.
Obviously having silver in its name, it kind of follow the silver price..but trading only,i doubt they will ever do something proper with these assets unless bought back by a serious player, and only if the board members get a very sweet deal.
I put RED in the same wagon but at least they do produce a bit now.
All your post on silver itself, I agree...

Dilution is guaranteed as this mine is going to take many more years before reaching production. If you are a person of high net wealth then get yourself known to the company. If they know you have $300,000 or more sitting there ready to stump up for a placing you can be sure to get a phone call from small cap companies. They don't want to mess about with $10,000 here and there. Rights issues are really out now as it takes ages to produce required reports and if a person is not resident in Australia or New Zealand forget it unless of course a foreign Institution or very high net wealth. Or dare I say it, get a legal mind to arrange it.

That's the way it is now. In Australia it's far better than the UK where ordinary shareholders never get a look in these days. At least some Aussie companies do have investment plans etc., non existent in the UK and other countries.

 

[Sean K]

PMs are looking very tasty. Even tastier if you'd bought in Sep or Mar.

 

[explod]

So they follow each other well. In my view silver jumping slightly ahead of gold has led past rebounds. Would like to add a lot more in support for my Comp choice this month but currently in hospital. Will add more as I can

 

[mullokintyre]

SVL had some hefty drill results out, albeit from one hole.
But the price still went down.
Hoping like hell it will get to 18 or even lower, then i will be in for a few.
Mick

 

[mullokintyre]

SVL just announced it has been hit with a court case from environmentalists challenging the IPC ruling allowing the mine to go ahead.

I reckon its been at least 12 years that this project has been eating away at capital.
Don't know how long this case will hold it up further.
Might need another 12 years to actually produce some silver.
Mick

 

[mullokintyre]

SVL has announced that it has completed a native title agreement .

Bowdens Silver Completes Native Title Agreement Silver Mines Limited (ASX:SVL) (“Silver Mines” or “the Company”) is pleased to advise that its wholly owned subsidiary, Bowdens Silver Pty Ltd, has completed a native title agreement with the Warrabinga-Wiradjuri #7 native title claim, in regards to a parcel of Crown land within the area of Mining Lease Application 601 (“MLA 601”) being the Bowden Silver Project. In addition, the related Section 31 Deed has subsequently been executed by the Minister for Natural Resources on behalf of the State of New South Wales. This now completes the “Right to Negotiate” process in accordance with Section 31 of the Native Title Act 1993 (Cth). The completion of this process enables the continued processing of MLA 601 covering the Bowdens Silver Project. On 3rd April 2023, the Bowdens Silver Project received development consent from the Independent Planning Commission of New South Wales. This document has been authorised for release to the ASX by the Company’s Managing Director, Mr Anthony McClure.

Its a long drawn out procedure to get a new mine over the line.
No wonder there are fewer and fewer mines.
Mick

 

[qldfrog]

SVL has announced that it has completed a native title agreement .

Its a long drawn out procedure to get a new mine over the line.
No wonder there are fewer and fewer mines.
Mick

Poor voiceless people exploited by big money and white male patriarchal society

 

[mullokintyre]

I have for many ears use SVL as proxy for trading silver.
Has been a nice little earner for me.
However, for some reason,SVL has not jumped up over tha past two weeks as Silver in AUD has gone up 10%.
Might have to find another proxy.,
Mick

 

[explod]

Just hang in there Mick, I have it in the December Stock tipping contest so all should be well. The chart looks good too.

 

[mullokintyre]

Just hang in there Mick, I have it in the December Stock tipping contest so all should be well.

This chart below shows silver in AUD for last 5 years

A quick comparison over the last few weeks has shown a distinct lagging of the SVL versus the physical in AUD.
Perhaps when that big block os sellers at 18 and 18.5 get used up things might go for a ride.
Bought a few yesterday morning at 175 to add to my already large collection.

 

[mullokintyre]

SVL released another set of drilling results for the Boda extension.

Perhaps its now time to start on a BFS, and mine plan, in the hope of making enough money to pay for further drilling..
Mick

 

[Garpal Gumnut]

I haven't had a look at SVL for a while. There is quite a tasty divergence there SP/RSI should one use a little imagination !!

I'll be watching the volume on this little yapper this month and having a look at the fundamentals e.g purchase of Tesla/BMW by large shareholders and how the mugs on other forums behave. Oh yeh, and SP action as well.

A chart.

gg

 

[mullokintyre]

SVL down to 14, and a whisker away from the March low of 13.5.
Will look at buying around the 13 to 13.5 mark.
The Silver price in AUD terms is well above the prices in March when it his the last 52 week low.

Mick

 

[mullokintyre]

Damn, never did get to that 52 week low.
Up 20% to 18 today on some serious volume.
I really want it to keep going.
Silver metal showed a small increase, so this action must be something else. Like manipulation.
mick

 

[mullokintyre]

So the quarterly out today, and the most glaring thing is the dwindling amount of cash.
0.91 quarters of cash left.
It looks like another cap raising on the cards, and we have not even got to the serious part where they start to raise cash to buildd a mine.
With 1.4 billion shares already in the market, the dilution over time is significant.
I will get out of at least half my holding over the next few days.
SVL is stil lagging the silver price, but not by quite so much.
Been some big volume traded last few days.
Mick

 

[mullokintyre]

And right on Cue, SVL goes into a trading halt pending an announcement about a capital raise.
The only question will be whether the great unwashed get a chance at further dilution or its only the instos and sophs.
At this rate, it will require another consolidation after the one back in 2017.
Mick

 

[qldfrog]

And right on Cue, SVL goes into a trading halt pending an announcement about a capital raise.
The only question will be whether the great unwashed get a chance at further dilution or its only the instos and sophs.
At this rate, it will require another consolidation after the one back in 2017.
Mick

I kept a dozen of shares waiting for that purpose ..but only if spp is lower than SP..which is not a given

 

[mullokintyre]

And right on Cue, SVL goes into a trading halt pending an announcement about a capital raise.
The only question will be whether the great unwashed get a chance at further dilution or its only the instos and sophs.
At this rate, it will require another consolidation after the one back in 2017.
Mick

Wow, only 8 mill raised at at a price of 13.5.
The existing shareholders get a chance to buy at 13.5 as well, but only an extra 2mill.
They knocked around 50 million of shareholders capital off to raise $10 mill.
Sound financial management.
I have bids in below the issue SP price.
Will not take up the offer of the SP, looking to buy in at cheaper levels.
Mick

 

[frugal.rock]

Not sure it will go below Mick.
It could be the catalyst that reverses the ~10 month dastardly looking downtrend.

 

[mullokintyre]

Not sure it will go below Mick.
It could be the catalyst that reverses the ~10 month dastardly looking downtrend.

Well it would be a nice outcome but I do not see what it is that will contribute to the reversal.
The most recent purchasers are now well out of the money, and if existing shareholders decide to sell out at prices above 13.5 to get the 13.5 Sp allocation, it will keep downward pressure on the price.
I can't see anything on the horizon to give it a boost.
The MRE and feasibility study will only show how much CAPEX is going to be required to get the mine to producing ore and then metal.
Not sure if I want to keep playing the game.
mick