Well we all know Apogee has 117 mil ounces of silver not adding lead and zinc which would bring the total silver to about 146 mil ounces of silver but lets just stick with 117 mil ounces of silver.
Out of this 117 mil approx, 80 mil is in the measured and indicated category and the rest in the inferred. If you look at other non producing silver companies, you ll notice the average price the market is paying/ounce of silver in the ground is around $4.64 Some are valued below and some well over $4.00 This valuation depands on few factors such as 1)geography 2) Politics 3) Size of the deposit 4) grade of the deposit just to name a few. If you look at the graph below you'll see in red Apogees silver worth/ounce in the ground The market was paying ONLY .29c per ounce of silver in the ground based on market cap of $34 but Apogees market cap now is in the $20 mil on silver spot price $31.00 so it is less than .29c. It is infact the cheapest silver company out there. This perceived fear of political risk in Bolivia which cannot be accurately calculated to reflect a true s.p value is well over blown. As i mentioned in one of my previous posts. Bolivia only nationalized few mines that were strategic to national interest In this case it was indium which the deposit has 25% of worlds total amount and so i do believe they are done with nationalizing since theres nothing else of strategic interest to Bolivia. With this, I do believe once the market comes to their senses, they will see the true value Apogee silver has and merit them accordingly. Giving a value way less then .29c for ounce of silver Apogee has in the ground when POSilver is at around $31 is in deed way over kill to the s.p.
Silver ounce in $mil Market cap/ounce