Canaccord Genuity Updates Buy Recommendation on SilverCrest Mines (TSXV:SVL) (NYSE-MKT:SVLC) - Video Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, April 4, 2013 - Canaccord Genuity updates buy
recommendation on SilverCrest Mines (TSXV:SVL) (NYSE-MKT:SVLC). Following the
filing of a NI 43-101 compliant Technical Report for the La Joya resource
update, which included results from preliminary metallurgical work, analyst
Nicholas Campbell reiterated his buy recommendation, maintaining his $4.50
target price, a 91% premium to the $2.35 price the day the report was issued.
InvestmentPitch.com has produced a "video news alert" about SilverCrest Mines
based on this research report. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "SilverCrest" in the search box.
Batch cleaner floatation tests indicate that the project could be amenable to a
conventional floatation process to produce a copper concentrate. Test recovery
rates ranged from 81.4 to 87.7% for copper, 74.9 to 84.3% for silver, and 18.2
to 56.6% for gold. Concentrate grades ran up to 40% copper, 4.78 grams per tonne
silver and 13.1 grams per tonne gold for the near surface Manto composite that
constitutes the potential starter pit, which should make for a highly marketable
concentrate.
J. Scott Drever, President stated: "The significant increase of Inferred
Resources at La Joya and the identification of a potential high grade starter
pit have increased the attractiveness of the project. Confirmation by
preliminary metallurgical test work that a high grade, copper-silver-gold
concentrate, with high recoveries of copper, silver and gold can be produced is
extremely important and encourages us to push forward with our Preliminary
Economic Assessment to define preliminary operating and capital parameters for
the project."
La Joya is one of SilverCrest's Mexican properties, the others being the Cruz de
Mayo, and their flagship, 100%-owned Santa Elena Mine, which is located 150
kilometres northeast of Hermosillo, in the State of Sonora, Mexico.
The Santa Elena mine is a high-grade, epithermal gold and silver deposit, with
an estimated life of mine cash cost of US$8 per ounce of silver equivalent, with
a 55 to 1 silver/gold ratio. SilverCrest anticipates that the 2,500 tonnes per
day facility should recover approximately 4,805,000 ounces of silver and
179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa
Elena Mine.
Anaylst Nicholas Campbell stated, "While preliminary, from our perspective,
these results support the viability of the La Joya project. A Preliminary
Economic Assessment is expected to be completed on the higher-grade starter pit
for the La Joya project in the second half of 2013. We continue to view
SilverCrest as a likely consolidation target for a larget cap silver producer."
SilverCrest currently trades at $2.21, and with 106 million shares outstanding,
the company is capitalized at $234 million.
For more information please visit the company's website
www.silvercrestmines.com, or contact Fred Cooper at 1-866-691-1730 or email
info(at)silvercrestmines.com.
For more information about Canaccord Genuity or to obtain a copy of their
research report, contact your nearest Canaccord Genuity office. Their branches
are listed on their website at www.canaccord.com.
About InvestmentPitch
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals, specializes in
producing three minute videos based on news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1690371]
Unternehmensinformation / Kurzprofil:
Datum: 04.04.2013 - 16:46 Uhr
Sprache: Deutsch
News-ID 246155
Anzahl Zeichen: 4581
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 355 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Canaccord Genuity Updates Buy Recommendation on SilverCrest Mines (TSXV:SVL) (NYSE-MKT:SVLC) - Video Posted on InvestmentPitch.com"
steht unter der journalistisch-redaktionellen Verantwortung von
InvestmentPitch (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
