The 264th Sydney Mining Club – Online
at 1:00 pm on 25 November 2021 as a Zoom Webinar
Silver Mines has Bowdens Silver Lifting on a Green!
Managing Director Anthony McClune Presenting
Tony McClure, the Managing Director of Silver Mines Ltd, is a popular man in mid-western New South Wales and it’s hardly surprising to see why.
With various pressures on the state’s coal mining industry ratcheting up faster than most ever imagined, McClure’s advancement of the largest undeveloped silver mineral resource in Australia has locals breathing a sigh of relief. Not so long ago Kepco’s nearby Bylong coal project took yet another setback.
During the 2021 Financial Year, McClure’s team has been busily drilling away at its Bowdens Silver deposit located only 26 kilometres away from the beautiful mostly coal mining and wine growing town of Mudgee.
The results have been promising. Exploration activities have yielded exceptional high grade silver intercepts with proven reserves of 28.6 million tonnes at a grade of 69.75 grams of silver per tonne. The company’s market cap has increased by over 9 times in two years.
Public support for the project is unprecedented in New South Wales. Around 80 per cent of locals support the mine’s development and when Minerals Council CEO Steve Galilee recently visited, he said he has never known a project in NSW to have such strong local backing.
Even better for McClure and his team is the fact silver is now considered a green metal.
While lithium is currently raking in all the glory, the critical industrial applications of silver are driving its price sky-high with several American and European financial institutions calling silver to $50 and beyond. Among other things, silver is essential to the production of photovoltaic cells and electric vehicles given its properties are better at conducting electricity than any other metal.
Although McClure and his team have several other nearby targets including the Barabolar and Tuena reserves, Bowdens is the focus at this early, yet promising stage.
With the world consuming far more silver then has been mined and today’s silver inventories at record lows, the future sure looks bright for Silver Mines Ltd.
Not to be missed!