Open Pit Advantage
The development timeline is so much shorter for open pit vs underground. There is much to like about a bulk tonnage open pit silver mine. The CAPEX is less, the project advances faster, there are fewer technical difficulties in design, & we don't have to guess how much will be extracted because they take all of it. This is the first open pit mine I have come across where silver is not a byproduct, it's the feature metal. I have traded this a little over the last 2 years but have avoided investing because the team did not seem serious about carrying thru to production. But with the personnel changes I believe they are making all the right steps to get there & the fact that they are not on Pender Street gives more credence that they are not Pina colada lifestyle miners. I am looking for an entry point but it looks like junior miners have further to fall. At a $12.50 AISC, we don't need higher silver prices, $24 is plenty good.