To The Moon

$Silvercorp Metals Inc(SVM)$ Revisit SVM, which is going from strength to strength. Despite silver price struggled overnight in US trading session, SVM was able to continue its strong march forward. In fact, upon hitting a recent low at $8.50, followed by a confirmation of inverted head and shoulders, the share price has not looked back.

The main reason is linked to the recent backflow in interest in precious metals group in general. Gold has moved from $4000 to $4700 and silver from $55 to now finally assaulting $70 target 🎯. What a turnaround in a couple of weeks!

As discussed in another article not long ago, there is a separate reason. SVM has over the years quietly transformed itself. It is no longer a China only silver mining company, neither is it a single mine company. This is important, since it reduces the inherent risk associated with single mine. More importantly, SVM's central Asian mine (Chaarat Kyzyltash gold project in Kyrgyzstan) is turning out to be every bit a winner! Gold is showing up continuously and throughout the targeted exploration area, even those at the boundaries of those permitted areas. SVM has since applied and received approval for extension of its mining area. 

Give it another couple of years and we will be looking at a dual Gold-Silver steady producer with long term growth prospects.

Silver is doing all it could to clear $70 (still a fight on hand, bouncing between $68-70). SVM, on the other hand, is clearing $13.3, a previous resistance high, and it's definitely doing a great job at the moment.

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