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The commodities market is known for its volatility, and silver is no exception. In a recent interview with Commodity Culture, Shawn Khunkhun, CEO of Dolly Varden Silver, discussed the current state of the silver market and the opportunities it presents for contrarian investors.
Khunkhun noted that the persistent low sentiment among investors in the silver space has created a ‘massive opportunity’ for those willing to stay patient through the market’s inevitable ups and downs and focus on the long-term thesis. With many investors still wary after the silver price crash of 2011, those who are willing to take a contrarian approach and invest in silver now could see significant returns in the future.
But what about the current state of Dolly Varden Silver? Khunkhun provided an update on the company’s 2024 drill program, which is focused on the exploration and development of their silver projects in the Golden Triangle of British Columbia.
The company’s flagship project, the Dolly Varden property, is host to four historically active silver mines and contains a proven and probable mineral reserve of 3.1 million ounces of silver. In addition, the property has an indicated resource of 3.4 million ounces of silver and an inferred resource of 11.4 million ounces of silver. The 2024 drill program is designed to further delineate and expand these resources, with a focus on high-grade silver targets.
Khunkhun also discussed the company’s recent collaboration with Fury Gold Mines, which will see Dolly Varden Silver acquire the Homestake Ridge gold-silver property, located just 12 kilometers from the Dolly Varden property. The Homestake Ridge property contains a proven and probable mineral reserve of 54,000 ounces of gold and 785,000 ounces of silver, as well as an indicated resource of 251,000 ounces of gold and 5.5 million ounces of silver, and an inferred resource of 51,000 ounces of gold and 1.9 million ounces of silver. The acquisition of the Homestake Ridge property will allow Dolly Varden Silver to consolidate a significant land package in the Golden Triangle, providing increased exploration potential and potential synergies between the two properties.
Overall, the interview with Shawn Khunkhun provided valuable insights into the current state of the silver market and the opportunities it presents for contrarian investors. With Dolly Varden Silver’s strong portfolio of silver projects and their ongoing exploration and development efforts, the company is well-positioned to capitalize on these opportunities and deliver value to its shareholders.
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