July 21, 2021
Dear Silver Investor,
With the commencement of drilling on the Dolly Varden Silver Project we thought now would be a great time to update you on the progress we have made and our plans for this year.
Since taking over as CEO in January of 2020 a lot has changed in the world and for Dolly Varden Silver.
Despite the logistical challenges of the pandemic, last year Dolly Varden Silver was able to complete more than its 10,000 metre budgeted drill program.
With the silver price hitting a new eight-year high at $30 US, Dolly Varden’s share price and market capitalization have increased substantially which is attributable to the value and leverage our 100% silver resource provides investors.
In addition, we believe our project’s safe jurisdiction will likely become an increasingly important factor for investors in the years to come and therefore demand a higher premium in the market.
In 2020 we were able to raise greater than $26 million and I am happy to report the company presently has $22 million in cash which is expected to support our objectives for the next 24 months.
While in recent months the price of silver and our share price have both corrected, we believe in growing demand of silver due to its incredible properties required in industry as the most reflective, most electrically conductive, and most thermally conductive metal.
We are pleased to report the company has worked hard to accomplish the following since the beginning of 2020:
Step-out holes at Torbrit
Infill holes at Torbrit
With global economies expected to open further and extraordinary monetary policy causing negative real interest rates we are excited about the potential for silver prices in the next 12-18 months.
Our field work this season is well underway and includes:
We at Dolly Varden Silver look forward to reporting the results from our 2021 drill program in the coming months.