1. Despite high-risk operations in Bosnia, the Vareš Silver Project shows strong growth prospects and low-cost production, justifying a positive 'hold' rating. 2. Expected to significantly contribute to Bosnia's GDP with high IRR and low AISC, potentially making it a lucrative long-term investment. 3. ADMLF shares show a strong positive correlation with silver prices, outperforming the US stock market in the long term, but current levels suggest waiting for a dip.