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Gold/Mining/Energy : Silver Bull Resources, Inc.
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From: basserdan7/10/2020 1:00:07 PM
4 Recommendations

Recommended By
marcos
pogbull
the longhorn
zink

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From the Silver Bull board at Stockhouse... (TSX: SVB, OTCQB SVBL)

by LondonInvest
July 06, 2020 12:07pm

Hi,

I have been accumulating SVBL for years and have a VERY sizeable position.

South32 being on board is very significant. As for the resource, they already have a NI43-101 with Measured and Indicated being:
Ag - 90.8 Million Oz
Zn - 4.67 Billion Lbs

Assumptions were for $18/oz Ag and $1.00/lb Zn

As the surface resource is oxides recoveries are lower, but they factored in 75% recovery for Ag and 41% for Zn.

This gives following
Ag - 90.8 Million Oz x 0.75 x $18 = $1.22 Bn Ag value
Zn - 4.67 Billion Lbs x 0.41 x $1.00 = $1.92 Bn Zn value
----------------------------------------------------------------------------
Total known M&I resource is $3.14 Bn with ~60% Zn and ~40% Ag split.

The total market cap of this company is <$20 Million USD. This could easily trade at 10% of resource in ground, $300 Million or a 15x return.

This company is valued as an explorer looking for a resource, not a company with a resource and exploring for the main ore body to make it a bonanza company. It has alot similar to Arizona Mining's Taylor deposit which South32 bought for $1.6 Bn. This is why South32 is involved, looking for another Arizona Mining. They are had been drilling and hitting sulfides honing in on main ore body.

silverbullresources.com

Here is resource IRR at different ore prices:

kitco.com

stockhouse.com








Dan
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