Seems like SVL has rallied on news of a drilling campaign in Tuena and Bowdens.

Other than that traders are treating this more as an "Silver ETF" since it rhymes with the word "Silver"?

Just a few observations:

The point is there are better plays out there such as ADT.

Also, unlike ARD (which is a spec stock I own), SVL doesn't  have water permit rights for their project.

Finally, like Mcphillamys, Bowdens is located in prime agricultural land so approvals will take time and hence there may be a good chance of another capital raising to keep afloat.