SVL - Silver Mines

[qldfrog]

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

I might try to get some at 13.5

I kept a few shares for that purpose..and offload asap

 

[qldfrog]

I might try to get some at 13.5

I kept a few shares for that purpose..and offload asap

Hum what is the point getting in at 13.5 with spp when you can get them at this price on the market...

 

[mullokintyre]

Hum what is the point getting in at 13.5 with spp when you can get them at this price on the market...

I already have enough, don't need any more.
Mick

 

[mullokintyre]

SVL in a trading halt today as it awaits the outcome of a Judicial review of its mine approvals by some green activists who want to ruin my day.
Judge to deliver on Friday, so expect halt to be lifted after then.
Mick

 

[mullokintyre]

Judicial review concluded sucessfully in SVL favour.
Green Lawfare acheves nothing excepts making lawyers rich.
Mick

 

[mullokintyre]

Initial blasting of surface rock shows some good results, somewhat higher than the block model of the orebody had suggested.
Market sort of ho hummed and went nowhere.
I suspect they are waiting for the price of silver to go up a good bit before committing more funds to SVL.
Or waiting for next cap raise .
Mick

 

[noirua]

Apr 5, 2024 #silvermarket #silverfutures #silversupply
Jeremy Szafron, Anchor at Kitco News, interviews Peter Krauth, Author of "The Great Silver Bull" and Publisher of the Silver Stock Investor newsletter, about the current state and future of the silver market. Krauth discusses the dynamics of silver inventories, market trends, and the potential repercussions of futures contracts failing to meet physical delivery demands. Peter also discusses critical factors driving silver prices, from industrial demand to investment strategies, and uncovers the realities behind silver's volatile market.

 

[mullokintyre]

SVL plans a bit more dilution with the issuance of 30.2 million in convertible shares.
The strike price of 22 cents is at a premium to the price at the time of issue which was 16.5 cents.
Mick

 

[Sean K]

SVL plans a bit more dilution with the issuance of 30.2 million in convertible shares.
The strike price of 22 cents is at a premium to the price at the time of issue which was 16.5 cents.
Mick
View attachment 180988

Rick Rule on board makes it interesting.

Rule is a contrarian investor. That means that rather than running on momentum his aim is to get in early on sectors that are out of favour.

Silver has long been one of those, even as demand has risen for its use in electronics and solar panels, as well as investment and jewellery.

"I don't know that 2024 is the year.

"Because I'm a contrarian, I'm usually early. So if I get involved in 2024 probably the market moves in 2026, that's just the way it works.

"I like sectors that are hated.

"And January-February of 2024 there was a visceral hatred for junior silver stocks.

"You'll recall the Reddit silver squeeze in 2021-2022, that didn't work, but there was a whole new generation speculators that fell in love with silver, and there's no hate as sincere as the hate of a jilted lover.

"So there was a whole new generation to hate silver, and they were particularly vociferous online where they live. And that hate attracted me."

Rule regards silver stocks as a 'coiled spring'.

"I cut my teeth in the business in 1970 and between 1970 and 1981 the silver price advanced, in US dollar terms, from a buck and a half to 50 bucks," he said.

"But the equities (laughs heartily) did better. One Coeur d'Alene Mines, sadly without me owning a share, went from 10 cents to $65 – in Australian a f***ing rump, you know.

"And in the little silver cycle we had in the early 1990s I financed a couple of companies, Silver Standard Resources and Pan American Silver at 72 and 50 cents, respectively.

"In six years, they both went to 45 bucks, and so I was sort of hooked buying silver, and in particular, well run silver juniors when nobody cares, and then being a pawn broker giving it back when everybody starts to care.

While gold is the traditional headline maker in precious metals bull runs, cheaper priced silver tends to run harder and with more ferocity.

"I don't know really why silver moves, I've thought about it for 50 years, but I do know precious metals bull markets are led by gold," Rule said.

"The fear narrative is what kicks off a precious metals bull market.

 

[Sean K]

If this appeal fails does SVL get re-rated? Is this a good bet?

 

[mullokintyre]

If this appeal fails does SVL get re-rated? Is this a good bet?

View attachment 182624

If the appeal is successful it will tank.
If its unsuccessful, probably won't have a big impact, as i suspect most will have factored in that in the stock price, and will be looking at the other 8 billion things that need to happen before this gets off the ground.
Bowdens deposit was discovered in the 1980's, and some silver was produced before the company went bust.
SVL bought it in 2016.
So its been 8 years trying to get it restarted.
And we have not got past the Environment court yet.
The quote below from the Bowdens Silver subsidiary says it all.
No construction has started as yet, and we don't know if any any of the plans have been completed.

There is still a lot of work to do before the mine begins operations. Next steps for the Project is the completion of our management and engineering plans along with the completion of mine optimisation studies to further enhance the development and production operations. This work will continue throughout 2023 with development hopefully commencing in 2024.

That said, I am still holding a few.
Mick

 

[Sean K]

If the appeal is successful it will tank.
If its unsuccessful, probably won't have a big impact, as i suspect most will have factored in that in the stock price, and will be looking at the other 8 billion things that need to happen before this gets off the ground.
Bowdens deposit was discovered in the 1980's, and some silver was produced before the company went bust.
SVL bought it in 2016.
So its been 8 years trying to get it restarted.
And we have not got past the Environment court yet.
The quote below from the Bowdens Silver subsidiary says it all.
No construction has started as yet, and we don't know if any any of the plans have been completed.


That said, I am still holding a few.
Mick

I'm not sure if RR and Lundin would chip in $30m if it the appeal was going to be successful. Surely they did their DD on it before committing. Or, maybe they're playing a very, very long game and know it will eventually get approvals.

Will find out tomorrow I guess.

 

[mullokintyre]

SVL gone into a trading halt pending the result of the appeal.
One hopes it is as good an outcome as the original March 14 result.
Mick

 

[mullokintyre]

Well, it seems the appeal was held, and SVL SP down by 10%.
from the press release

The Appeal was primarily centred on whether the IPC failed to fully consider the impacts of a potential transmission line, which was one of the options being considered to power the Project. Preparation and the submission of a new development application for the Project, including power supply options, are being considered.

So I guess it will be held up while they try to find another source of power and transmission thereof.
Wonder how a f&^#%ing bit diesel generator would fare?
looks like it will be in the doldrums for awhile.
Wonder how Rick Rule is feeling right now?
Mick

 

[mullokintyre]

Yikes, down to .115
Has not been this low in about 4 years.
Got some low ball bids in at 11.
Seems to be a few others thinking the same looking at the ibcrease in bids at 11.
Mick

 

[Sean K]

Well, it seems the appeal was held, and SVL SP down by 10%.
from the press release

So I guess it will be held up while they try to find another source of power and transmission thereof.
Wonder how a f&^#%ing bit diesel generator would fare?
looks like it will be in the doldrums for awhile.
Wonder how Rick Rule is feeling right now?
Mick

Bloody hell, they're painting that as if it's a process error, not that the transmission lines were going to be actually really bad - for whoever. Transmission lines seem to have become a major issue with getting projects up and running around the place, eg wind and solar.

I wonder if this means they have to start the entire process again, or submit another plan for power (change where the transmission lines run, put in an SMR for the mine - lol) or the IPC just has to go back and consider the power lines more. (edit: looks like they're going to prepare a new submission)

The Bingman Group seem to be focussed on land care / natural environment, not just aesthetics of the countryside, and their raison d'etre was to stop this mine from going ahead so they're using all means possible.

I was getting close to investing in this prior to this decision based somewhat on RR and Lundin's commitment. Yikes, down 35% now.

 

[mullokintyre]

If you can understand the legal gobbledegook, the written judgement in the case can be found Here.
From my reading, it seems that the appeal was upheld because the Transmission line was not included in the original Application.
I guess they have a number of options.
1. re submit the application with the transmission lines in and start the process again (not the application was first submitted in 20202, some 4 years ago).
2. Submit the application again without any transmission lines and use a generator or maybe an SMR to supply power at the site so no transmission lines are required.
3. Give up and go home.
Cost me a lot of mulah this one.
Mick

 

[divs4ever]

Bowdens Silver Project Appeal Proceedings Update

Silver Mines Limited (“Silver Mines” or “the Company”) provides the following update in relation to the legal proceedings commenced in the NSW Supreme Court, Court of Appeal (“Court ofAppeal”) by Bingman Catchment Landcare Group Incorporated (“Bingman”).

As announced on 14 March 2024, the Company’s wholly owned subsidiary Bowdens SilverPty Ltd (“Bowdens Silver”) successfully defended the original proceedings commenced by Bingman in the Land and Environment Court of New South Wales (“Proceedings”) against theState Government’s Independent Planning Commission (“IPC”) and Bowdens Silver which challenged the development consent for the Bowdens Silver Project (“Project”) approved by the IPC on 3 April 2023 (“Development Consent”).
The Land and Environment Court of New South Wales dismissed the Proceedings.Subsequent to the decision made by the Land and Environment Court, Bingman filed an appeal in the Court of Appeal (“Appeal”).
A hearing was held on 22 July 2024.
The Appeal challenged the decision by the Land and Environment Court and sought a declaration from the Court of Appeal that the Development Consent is void and of no effect.
The Company advises that the Court of Appeal has today upheld Bingman’s Appeal, and the orders made by the Court of Appeal unfortunately mean that the Development Consent for the Project can no longer be relied upon by the Company.
The Company is currently working with its legal advisers to properly assess the implications of the decision.
The Company will provide an update to the market following this review.
The Company notes that the Appeal proceedings challenged the administrative process taken by the IPC in deciding to grant the Development Consent for the Project.
The Appeal was primarily centred on whether the IPC failed to fully consider the impacts of a potential transmission line, which was one of the options being considered to power the Project.
Preparation and the submission of a new development application for the Project, including power supply options, are being considered.
The Project would create over 320 jobs during construction and over 220 ongoing jobs, delivering significant long-term economic and social benefits for the State of New South Wales and the local communities across the Mid-Western Regional Council area.
The Company requests that the halt on trading in its securities be lifted with immediate effect.

i do not hold this share

crikey even if the lines were high voltage ( like the big ones in Queensland ) , impact by the transmission lines was going to need some fancy footwork , to fly

in Queensland they just turn that into a 'fire-break'/fire-road/access road ' and place that ground under the administration of the relevant power utility

surely the power lines are a better option than diesel or gas generators ( and the re-supply of the fuel via road )

 

[qldfrog]

Sadly had a 14c bid ..which went thru

 

[qldfrog]

Sadly had a 14c bid ..which went thru

Bell Direct does reset orders after trading halt, well Saxo does not seem to
Second lesson with saxo: only on order
Getting more and more disappointed with them