As a past SVL shareholder.. Just stopped in to comment on the Q4 numbers. Santa Elena looks real good in FR's basket of mines. Silver recovery % and gold recoveries (11K ounces) look exceptional!. It's a shame Sandstorm has their hands on a portion of that.
Only concern is the silver grade but that's a blended rate from leach pad and underground....silver grade looks a bit better underground. Cash cost is low only because of the blended rate..will go up once the leach pad has been depleted.
The challenge will be to grow the reserves around the mine. Once the market turns investors will focus on ounces in the ground and less on cash cost.