Dolly Varden Silver – Recent High-Grade Drill Hits Near Torbit, Ongoing Drilling at Wolf and Homestake
Shawn Khunkhun, President and CEO of Dolly Varden Silver (TSX.V:DV – OTCQX:DOLLF) joins us to review some recent high-grade silver drill results at the Kitsol Vein nearby Torbrit, and to further outline this year’s exploration program at the Kitsault Calley Project (the newly combined Homestake Ridge and Dolly Varden Projects) in the Golden Triangle of BC. With an ongoing 30,000 meter program under way, the assays announced new August 10th, from drill hole DV22-283 include: 50.18 meters (~30.0m true width) averaging 414 g/t Ag, including 7.15m (4.29m true width) averaging 646 g/t Ag, and 11.74m (7.04m true width) averaging 658 g/t Ag, and also 5.34m (3.20m true width) averaging 801 g/t Ag.
In addition to the drilling to the west of Torbit on the Kitso Vein, we also discussed the two other targets for growing resources at Wolf doing an additional 150 meter step out hole, and also expanding the resources at Homestake and stepping out. There are currently 2 drills turning at Homestake, and one drill rig moving back and forth between Torbrit and Wolf, and 18,000 meters have been drilled so far and things are running ahead of schedule for the year.
Shawn outlines the key members of Dolly Varden’s exploration team as well as board of directors and technical advisors, that give him the confidence that the 7 different resource areas will continue to grow into an economic deposit that will be developed and taken into production by a larger company.
If you have any follow up questions for Shawn about Dolly Varden, then please email us at Fleck@kereport.com and Shad@kereport.com.
Click here to visit the Dolly Varden Silver website to read over Company news.
(DV) (DOLLF) Dolly Varden Silver – Intersects 414 G/T Silver over 50.2 Meters
Proven And Probable – Aug 10, 2022
Jayant honestly mentioned his dislike for companies who continue going to the market for money, diluting, drilling more and using the money without a solid plan for the future.
I’m not saying DV is one of those but it might be helpful to try and come up with a list of these kind of companies.
I like that idea Terry. Going out for cash isn’t always bad, but when it is habitual, then I agree.
Good point Terry. The reality is that ALL non-producing and pre-revenue companies (and even some of the earlier stage producing companies or royalty companies) will need to perpetually go to the market to raise money. The better capital teams are able to secure more money, at better terms, and do it at the right time in relation to their share price trend.
However, sometimes things just time out in ways that are not advantageous to companies and also some of it was caused by things outside of their control (Covid measures or shut downs, really long assay lab turn-around times causing drill results to be released during downtrends in the markets or at unseasonable times for follow up, weather-related slowdowns or challenges, etc…)
As for Dolly Varden specifically, no they are not chronic diluters, and if one listens to the interview with Shawn, he makes that very point, and states they have $21 million raised at present, and won’t need to be going back to the market every single time they put out good drill results. He contrasted their really good drill hit last week with GR Silver’s good drill hit last week, and noted Dolly Varden didn’t rush out to raise on the news, but that GR Silver did, as an example of the normal trend in the sector. DV has plenty of money to finish this year’s drilling, and moving into next year.
Thanks for this update. I own the share and have been accumulating shares.
Dolly Varden has been a bit of a disappoint for me, the share price sucks and sometimes you can’t figure out why? I have owned it in the past and I believe at some point it will shine but I don’t like watching cars rust especially with my money. DT
I’d disagree DT. As Shawn pointed out, over the last few months the SILJ was down about 25% and in contrast DV was up 28%. That is far from boring, and they far outperformed most other Silver exploration or development peer companies over the last year. In my portfolio they’ve remained in the green from where I got positioned, where many companies dove down into the red, or I had to average down in to lower my cost basis.
How someone can come away from this interview thinking it is like a car rusting is puzzling.
We interview a lot of companies, and I’d say this one with Shawn from Dolly Varden was about the most solid messaging I’ve heard any CEO do in a few months. Maybe I’m biased as a shareholder and because they are a KER sponsor, but I felt he nailed it this interview.
Here is a performance chart over the recent past showing how well DV has performed in relation to SILJ:
Down the drain the PMs go again.
In the blink of an eye, days of gains are gone.
Get used to it. PMs are now set to get walloped, over and over again.
Your PM shares are soon to follow, and there’s nothing you can do except SELL!!!
CASH!!! It’s the only place you can hide.
Joe, where you been? Keep those bulls balanced.
I find Joe amusing, he sure can get some people around here excited. I don’t how anyone could take him seriously! DT😉
Nothing balances bulls like a couple of consistent contrary indicators whose bearish confidence is highest at important lows.
Doc – Where’s Joe been? He was silent when the PMs and mining stocks rallied for a few weeks (after his last set of dire “sell everything” calls), and then, of course, he resurfaces back on the site with more sell everything and run to cash calls during the corrective days down in the sector.
Have you not figured out his trolling game yet? He isn’t balancing the bulls, he’s a broken record, with no intelligent thought or rationale put into his repetitive comments.
– No specifics on fundamentals or technicals as to why he is bearish.
– No specifics on what the cash (being eroded by 8.5% inflation) is going to be used for. Oh wait, he did say last week it was for “paying bills,” which is nonsense, because money earmarked for investing is not for paying bills.
– No specifics on when he is buying, what he is buying, to deploy the cash he loves so much.
– Going to cash is basically an indecisive “spectator” position not even on the playing field.
– People with conviction that markets are going down would short them.
– People with conviction that markets are going up would go long.
– Why people listen to someone cowering in cash, that doesn’t even have a position (short or long) in the markets is beyond comprehension.
If Joe could put together a list of serial dilutes, that would be more helpful.
Again, almost ALL explorers and developers are diluters. As for the “serial diluters” part, it really comes from companies that have bad planning or execution, and thus they are forced to do a string of smaller capital raises (to keep paying their salaries, carrying costs, and doing some work), but not enough to bring on larger partners or do a raise big enough to really allow for 2 years of solid work programs.
As previously mentioned, the last 2 years have been brutal for companies in the sense that many had their work programs interrupted by extreme government policies around covid and lockdowns or sending home the whole staff if just 1 positive case showed up.
The other issue is that sometimes it literally took 3-6 months to get drill assays back from the labs, and by the time they came back, even if the drill results were good or encouraging, they still were mostly treated as liquidity events by investors fleeing the sector. The other challenge with the big delays in getting assays back so long after doing the drilling is that they came out so late, that any follow up work on those drill results had missed the seasonality for drilling a particular property. Sometimes good results came back, but the drill had already left the property as the drill are also in high demand, so it may take 1-2 quarters to get it back on site.
As a result, if the company was low on funds, then they were forced to either fold up shop, or do another capital raise at depressed share prices. Obviously, most opted for diluting with more capital raises, despite the negative sentiment in the sector, which meant blowing out their share count.
A few better run companies raised when times were good and when their share prices were much higher, and have continued to put out good news with a full treasury, and not needed to go to market as much. That would be a lot shorter list, than listing all the serial diluters which would be near 1,000 companies.
Doc, put your neck brace on for the back lash u get with your Joe comments from the savvy group thinkers
Joe is a troll, gaslighting the site, and your support of his gibberish is quite revealing.
There is no group-think going on here as everyone has completely different outlooks, different strategies, different stocks they are invested in, and they are all at various places on the range of sentiment and engagement in the resource sector.
The fact that you need to keep insulting and dismissing the people that actually contribute meaningful ideas to this forum, is also revealing. What meaningful insights or ideas to assist other investors have you ever offered us Jonsyl?
Just looking at my past metal mining holdings from the last 25 years
NSRPF- last 10 years of nothingness, took a loss only recently
SA LAST 15 years of nothingness, small gain, never to re-enter
TRX Last 20 years of nothingness , did a double,exited, only to do an 16 bagger from its low the next year or so
IT’S A TOUGH GAME OUT THERE
Are you recommending us dollar cash, bullion, or other currency?
During Obama andTrump, DOJ looked the other way …. The Powerful.
First article up.
All right big balls Joe. I’m heavy into UVXY selloff. Bring on PM’S crush
Dollar Index (now 106.82) may retest July high.
School is open……………..
Gold should be $10,000….. with all the money printed……….
Check out the numbers on the US DEBT Clock
I can do something else now. 5 minutes after open and my account went down to -.05%.
I am back for a thought: Silver One had good drill results and rather than be smashed as has been the norm lately, it got a 50% pop. Why? I don’t know as some other stocks like Vizsla and GR Silver had some good hits but fell asleep.
Here is a thought: Silver One is in Nevada and within the grasp of Wall Street. That could be a clue to look closely at silver stocks like Blackrock and Summa. May be entirely wrong but If US has some attraction to the Bankers, then maybe stocks that have been highly suppressed like Stillwater Critical may begin moving more aggressively. Probably worthless thoughts. Congrats to Silver One holders. Kootenay and Brixton drill results today but so far crickets.
I agree Stillwater Critical seems poised for at least a bounce here and this may very well be a long term low if my charts are correct. What I have learned over the past ten years is these mining shares need to be bought and sold. They really can’t be held long term in my opinion. Just like commodities are cyclical, the stocks that mine the commodities are also cyclical with higher volatility which works great for trading, but less so for holding long term. When these stocks get overbought RSI (I sell some when daily is overbought and more heavily when weekly is overbought) you need to take some off the table. When they are oversold on daily, weekly and monthly charts it is definitely not a time to be shy in buying, but your buying needs to be measured. Have an idea of what total position size you ultimately want and buy that in tranches (I tend to buy in quarters and am not scared to buy more if the stock drops from my initial buy). At the same time stocks can be very oversold and get more oversold so you need to keep that in mind and sell a position if and when it goes too far against your analysis of the stock or becomes a value trap or if liquidity in the stock dries up and or bankruptcy or lack of funding becomes an issue for the company. Its a psychological game and you need to constantly evaluate your bias. Always remember in investing in the stock market your gain is someone else loss and visa versa. In the current environment, it is a trading environment and with the general stock market likely heading lower longer term, there is no doubt mining stocks will get dragged down too, with the next major market event happing with the Fed meeting in late September. Folks should be looking to hit singles and doubles in the current market and not hitting home runs. In this environment, taking profits, keeping some cash on hand and employing some general market hedges are paramount.
Maybe the “algo owners” are waiting for Biden to sign the bill which throws some money at electric and alternative energy stuff. I don’t know what holds Stillwater Critical back as they got some good stuff in quantity. My approach is buy often after near depletion earlier in the year.
Good thoughts Charles. Agreed on many points raised and that accumulating Stillwater Critical Minerals at presently depressed valuations will prove to be advantageous for the longer term.
should get interesting soon…..weekly GDX macd is narrowing w daily on buy but below neutral line….weekly slow stoch gave a buy signal 2 weeks bacck…we wait for macd to confirm into buy mode…soon
weekly XAU shows similiar improving technicals…glta
Good charts Larry. Thanks for posting. It will good to see if XAU makes one more lower low which is still a possibility. That is not to say individual mining equities have made their lows while others have lower lows still in the future.
Hi Ex, I know you follow Traveli Mining Corp. SYL-TV TSX, they have two mines with suspended operations Perkoa was flooded and I believe there were 8 deaths reported with that incident. Their caribou mine is also shuttered, their stock got hammered today on the news of Perkoa. The stock price is down today more than 50%. Do you think they will go bankrupt? DT
Hi DT. Yes, I’m very familiar with Trevali, and owned it as a turnaround story in the Zinc space, but once the news of the flood and potential harm to employees came in, then I sold on that news. Now, I’m not sure if they’ll survive or not…. mining, it’s a tough business.
Biden signs the bill and my account drops.
I haven’t checked Chipolte if it popped….
My best stock today is a biotech, but it was leading before the signing. I guess the Bill was programmed in back when The Four Seasons was hosting the big event.
Poorest performers after signing: (order of badness) Stillwater Critical, Emerita, Libero Copper, Vizsla Silver and GR Silver.
He hasn’t signed yet. Came out late and talking. No time for the market to react. My account locked in the loss column. What happens now for the market to forget about infrastructure by morning.
BBB, IPT and KTN each finished about 7.5% off their lows for the day but only BBB finished in the green thanks in part to a drill hole.
Bbb got a slight pop to 7.5% after dropping -4% early. Then it just sat all day long in my account. In the last few minutes, GR Silver shot to the bottom in my account. I had added more GR earlier in the day as it was its day to be negative. Strangely Stillwater was doing nothing most of the day, dropped before close to my worst and then went back to about even at close. Seemed to be pressure on my silver and copper stocks toward close which seemed like just another sell the news day.
In Canada BBB actually never went negative today, at least according to stockcharts. In the US (BBBXF) it finished up 12.24%, again, according to stockcharts. Volume in Canada hit a 3-week high and was 5 times yesterday’s volume.
I was probably looking at both Schwab and OTC and they often don’t match, particularly if I am looking at the trading prices. Schwab often doesn’t match itself as the bid/ask trading price will differ from the Research Section price. I often go to the OTC price while trading to get a comparison, but never know which is right. The other thing is that schwab cuts my account off at the 4:00PM NY price but when they run EOD they include after hours trading and the Canadian adjustment …. but that can occur anywhere from 8:00 pm EST to sometime in early morning. Then it gets distorted if the overnight spread is altered as they will open using the altered bid lower as the closing price and give a false impression for a gain/loss for the entire next day making one have to research the validity of any abnormal price swings so you can mentally adjust account totals. Complaining doesn’t help.
HL finished up over 1.5% and 3% off its low.
Yeah, Hecla has had a nice run lately, and I added some HL about a month ago on the 14th at $3.62 and it closed today at $4.54, so a pretty good trade thus far for +25%.
XAU filled its 8/8 gap yesterday and looks fine today.
Update from (DV) (DOLLF) Dolly Varden Silver with Shawn Khunkhun
Junior Resource Investor Podcast Episode #5 – Aug 15, 2022