Dolly Varden Silver Corp (DOLLF)

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DOLLF in http://www.investorideas.com/news/2017/mining/01181Silver.asp


Dolly Varden is looking for much more high grade silver on its prolific land package, just inside the Golden Triangle
A new management team has taken on Dolly Varden under the leadership of Gary Cope as President & CEO.
After raising C$7.2M, Dolly Varden is ready for a major drill program in 2017.
The 2016 drill results are in and look very promising.

1. Introduction
The best place to explore for a new mine is in the shadow of an old mine. This is a very old adage in the mining sector and is definitely valid for new sponsor of my website Dolly Varden Silver Corp. (DV:TSX.V). Dolly Varden is a junior exploration company fully focusing on the Dolly Varden silver district, which is home to several former high-grade silver mines. The company hopes to expand known deposits, and find new ones under the technical guidance of veteran geologist Ben Whiting (P.Geo).

This district is located at the southern end of the Golden Triangle, a well-known mining area in Canada's British Columbia province.

Dolly Varden has just started drilling, but things weren't always that bright for this little junior. The company had for example a bad share structure, debt from the past and hardly any cash, and was involved in a fight with long time major shareholder Hecla Mining Co. (HL:NYSE), which launched a buyout offer and tried to take control right before the summer. This (hostile) attempt fell back, and Dolly Varden was able to raise CA$7.2M to repay all of the debt it owed and could finally start a significant field program in September 2016. Results of this program are already impressive, and this company will probably remain fixed on the radar of many mid-tiers.

Project, Background
Dolly Varden Silver is a mineral exploration company focused on the Dolly Varden silver properties located in northwestern British Columbia, Canada, 25km by road from deep tide water. The 8,800 hectare property hosts a robust high-grade mineral resource and is considered to be highly prospective for further high-grade deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack.

There have been some recent changes to senior management. Since December 5, 2016, Gary Cope has been appointed president and CEO. He is a well known name in junior mining sector, and also very familiar with adding value regarding silver juniors. His last big deal was the buyout of Orko Silver Corporation by Coeur Mining for C$350M as the president and CEO of Orko Silver. The Board of Directors of Dolly Varden was delighted that someone of the calibre of Cope wanted to step in, and he did this because he saw great opportunities to add considerable value.

Another new and high calibre exec is Ben Whiting, the new VP of exploration, replacing Rory Kutluoglu, who is strengthening the team of Black Sea Copper and Gold. Gary and Ben know each other from Orex Minerals and Orko Silver. Gary didn't have to be very persuasive to get Ben on board. Ben Whiting is a professional geoscientist with more than 35 years experience in the international mining industry. He has worked for both major (for example, Rio Tinto) & junior companies, managing a wide range of operations from exploration through to production. He has also acted as a special advisor on mining industry matters to government agencies and is a past Adjunct Professor of Queen's University in the Geological Sciences & Mining Engineering departments. Whiting is an "Economic Geology" medal award winner and winner of the 2008 IAC "Explorer of the Year" award, and has a host of other distinctions and memberships of professional organizations to his name.

The latest addition to the team is Robert van Egmond, who is also a professional geologist with over 25 years of experience at the likes of Cominco, BHP, Kennecott, Platinum Group Metals, Candente and Northern Dynasty Minerals, and knows Gary and Ben from the time he worked at Orex recently, so it's kind of a reunion for them.

Some basic information: Dolly Varden has just 34.5M shares outstanding, with Hecla Mining as a major shareholder (about 15%). The cash position is estimated at C$3M, with no debt. The current share price is C$0.69, resulting in a market cap of C$23.81M.



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