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SVL - Silver Mines

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mullokintyre said:
If you can understand the legal gobbledegook, the written judgement in the case can be found Here.
Click to expand...

Had a read through this and Silver will be very disappointed that the transmission line issue was not looked at in more detail in their applications and ensure that it was going to be considered thoroughly. Not sure who would have been responsible for that but someone should have had the foresight that this would be a potential issue in the studies for submission and been clear about what size power line they were putting in and environmental effects of that line. I can't understand why that was not looked at in more detail with an impact statement and/or mitigations. If they had have then this appeal would not have been initiated.

It seems the initial claims against the development of the mine were more focussed on silver, lead and zinc getting into the environment during the mining process. It looks like this must have been addressed sufficiently and they were going to get approval on that front. Losing this because they didn't put enough effort into the transmission lines looks pretty sloppy.
 
On second reading of the judgement, I'm not sure if it's just Silver's fault in not providing enough information on the transmission line but the main judge approving the project to go ahead without a sufficient Environmental Impact Statement on the line which would be subject to a subsequent application. What should have happened was a full EIS, including the transmission line, be submitted as part of the original application and that reviewed as part of the overall plan. So, it seems Silver may or may not have completed an EIS on the line, or the judge failed to consider it and thought it was OK to look at it later.

It seems to me they just need to resubmit their application along with an EIS on the transmission line and the new judge make sure it's considered.

Might only take 4 years for that.
 
Why do i even bother with mining..or basically anything in Australia .
I have enough mandatory exposure thru currency or my system play.
I seem not to learn my lesson..or just too patriotic..that will pass
 
qldfrog said:
Why do i even bother with mining..or basically anything in Australia .
I have enough mandatory exposure thru currency or my system play.
I seem not to learn my lesson..or just too patriotic..that will pass
Click to expand...

The red and green tape is pretty frustrating. Approvals take so long. I blame public servants. They seem to be on a go slow continuously.

I’m not sure if SVL will be able to fast track a new application but they should. Four years of review held up because transmission EIS wasn’t included due to power line choice and route.

One of the three judges deciding on this were actually in favour of SVL and listed some precedents for multiple applications, so they weren’t far off.

I dare say, might be a long term opportunity here. It should eventually, one day, become a mine.
 
qldfrog said:
Why do i even bother with mining..or basically anything in Australia .
I have enough mandatory exposure thru currency or my system play.
I seem not to learn my lesson..or just too patriotic..that will pass
Click to expand...
one reason i stick to producers , and i still get burnt sometimes
 
In this letter to the Environmental Assessment board , Bowdens outlined the 500 KV Line.
I struggle to understand exactly what the appeal was upheld for, given the above letter outlines the environmental benefits of the shift.
I guess we will just have to wait and see.
The only hope I have now is that some other entity decides that at a now severely reduced market cap of 140mill, its worth a takeover and put some real money into bribing the right people into accepting the mine development.
Mick
 
mullokintyre said:
The only hope I have now is that some other entity decides that at a now severely reduced market cap of 140mill, its worth a takeover and put some real money into bribing the right people into accepting the mine development.
Mick
Click to expand...
a scary possibility for long-term holders , indeed it has happened before that a predator has funded activist activities

not saying this is the case this time .. but it has happened before
 
I bought more at 0.82 this morning.
I reckon its been punished to far, but I could be wrong and will end up throwing good money after bad.
Would not be the first time either.
Mick
 
mullokintyre said:
I bought more at 0.82 this morning.
I reckon its been punished to far, but I could be wrong and will end up throwing good money after bad.
Would not be the first time either.
Mick
Click to expand...

I might be with you tomorrow, Mick. Might be a short term knife catch for a bounce, a longer term no brainer, or they go into administration and we lose all our moulah.

After reading through the legal determination and understanding the original case and outcomes it seems like this is a glitch and they just need to re-submit the application with the power plan and make sure the new judges actually take it into consideration. They seem to have already done the community consultation on it etc and just need to review it and do a little bit more work or hand over more Aldi bags to get it over the line.

Having said that, who knows what else could pop up if the EDO or Plibersek get involved.
 
SVL put out a feel good press release saying how they were comitted to engaging with stakeholders blah blah blah.
The critical part is they are earnestly preparing a new submission.
Although I have bagged SVL management in the past, this whole schemozzle is not their fault really,
The "problem" was the IPC supposedly failing to take into account the impacts of the Transmission line.
So a new submission will need to be made, the IPC will have to take particular attention of the transmisson line, make some paltry reccomendation changes to save the habitat of the pink leared lynx and off we go again.


That is until a new court challenge starts up.
Hopefully by thn SVL will have recovered a good chunk of its "value", and I can sell those shares I bought at the much lower prices.
Up another 9% today, the market must have liked this new story.
Mick
 
It seems SVL put a lot of effort into addressing the more mainstream environmental aspects when they made their initial application, (water, air, noise etc.), as these weren't addressed in the case bought by Landcare. No doubt they were advised by eggspurts that the transmission line could be addressed once they had that part sorted. Of course, this was proven wrong when challenged in court. This latest case hasn't judged the merits or otherwise on the establishment of a mine, but rather whether the IPC ,and subsequent court case applied the relavant law correctly.

It looks like they aren't going to just resubmit the original application with the elecktrickery part sorted out, but rather submit a new application altogether. This will, of course be based heavily on the original but with some tweaks. This would lead you to believe they are covering any potential weak points for future challenges. I wouldn't be holding my breath for any application to happen soon though, they will have any manner of consultant check it to make sure the "T"s are dotted with the exact proper dot and "I"s are crossed in the most formal manner.
 
There has never been a profitable listed Australian silver mine in modern times. Nor has there been a silver developer/explorer that has sustained share price appreciation. They're just casino chips for traders that carry the word 'silver' and make the charlatans who recycle old discredited assets rich during ephemeral silver runs.
 
Still holding the knife, hasn't done any damage yet. Waiting for another update on their way ahead. Should expect that pretty quickly if it's just the admin error. My basic theory here is that it should go back to the pre-appeal uphold price of 15c.

 
Hit a high of 10 today, still sitting at 0.098.
Interesting that the recent buyers of SS1 seem to be taking their profits.
people rotating back into SVL perhaps?
Next big hurdle is 11 cents, which is were my sell order for the 0.082 ones I bought on the day of "big dive" is parked.
There is now a lot more buyers than sellers again, which is how I like it.
Mick
 

If my theory is correct then it's going to be an easy 50% gain from under 10c back to 15c.

Labor is getting smashed for their most recent cancellations of mine development on flimsy political reasons. If they keep it up they will be kicked out, so I think (hoping) there might be a general change of sentiment towards mine development coming up.
 
I tend to agree, but have the first hurdle at 14c, then it's a rocky road to 16c, one which may take some time, and sound funny mentals to traverse and overcome. In any case, sub 10c to 14c will keep the wolves from the door for a bit.
 
Kinda scratching my head over SVL today.
Silver powered through 30 bucks on the US market Friday night, and continued its advance through 31 today on asian markets.
And yet SVL has been sold don by 12% on some pretty large volume, and there has abeen a biginflux of sell orders.
Still not game to go again, will wait to what happens on US market tonite.
Mick
 
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