Investigator Resources: From Paris with love, in Brisbane

Investigator Resources (ASX:IVR) has several catalysts coming up that could lead to a share price rerating, according to Managing Director Andrew McIlwain.

Speaking to Mining.com.au ahead of the company’s presentation today (13 March 2024) at the Brisbane Mining and Investors Conference, McIlwain says he has a firm and simple message for investors in attendance.

“If you want to be invested in silver you should be invested in Investigator. Our share price moves in lock step with the silver price but that said there are a couple of catalysts coming.”

The MD is again this year showcasing the company’s Paris Silver Project — among Australia’s highest grade primary silver projects — to the conference as it progresses a Definitive Feasibility Study (DFS).

Speaking to this news service on the sidelines of the conference, the MD says the company will also move forward with a period of applications with the South Australian government, which he expects will be complete in the next 15 months.   

According to McIlwain, this work is being undertaken at a time in which the demand of silver is far outstripping the supply due to the consumption in electric vehicles and solar panels over the last 2 years, leading to a nearly 30% deficit.

As such he expects this current consumption rate to bridge the current gap between silver and gold

“With only 900 million ounces produced around the world, a lot of it from by-products, while 1.2 billion has been consumed over the last 2 years.” 

Paris is located in the Eyre Peninsula of South Australia and is the highest grade silver project in the country with a JORC 2012 MRE of 24Mt @ 73g/t Ag and 0.41% Pb, for total contained 57Moz Ag and 99,000t Pb.

McIlwain says the DFS will be completed by mid-year, adding “we have done most of the hard yards behind the scenes, we have done all the environmental surveys, hydrometallurgical surveys, ticking all those things off”.

“At the moment we are doing mine optimisation based on the more recent works in trying to get value out of the lead which is in the resource. Historically, we have only looked at recovering silver, but there is a bit of lead there, if we get some of that, it could help pay the capex as well.”

The current capex of the project is sitting at about $131 million.  

McIlwain adds: “This is a silver project, it is not a by-product of a base metal project. While others have a bit of silver in a base metal project, this is a silver project. The DFS really underpins the value of this project, it is the definitive statement of what we can do with this.”

Investigator Resources is a metals explorer focused on silver-lead, copper-gold, and other metals discoveries.  

As  reported by Mining.com.au, Silver was last week the best performing commodity.  Ole Sloth Hansen, Saxo Head of Commodity Strategy says silver’s performance comes as the semi-industrious metal received the tailwind from gold and an additional boost from industrial metal strength, not least copper. T

ABC Bullion puts the silver spot price per troy ounce at A$37.28 as of 11 March 2024, just shy of a high of $43.31 seen in April 2011. Comparatively, in May 2003 the silver spot price was just $6.80.

Write to Adam Drought at Mining.com.au

Images: Investigator
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.