SilverCrest Mines (TSXV:SVL) (NYSE-MKT:SVLC) Releases Santa Elena, Mexico, Expansion Pre-Feasibility Study - Video News Alert on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, July 26, 2013 - SilverCrest Mines (TSXV:SVL) (NYSE-
MKT:SVLC) has released an "Expansion Pre-Feasibility Study and Open Pit Reserve
Update" for the company's Santa Elena mine. The 100% owned Santa Elena Mine,
located in the State of Sonora, Mexico, is a high-grade, epithermal silver and
gold producer.
InvestmentPitch.com has produced a "video news alert" about SilverCrest based on
this news. If this link is not enabled, please visit www.InvestmentPitch.com and
enter "SilverCrest" in the search box.
The economic analyses use Base Case metal prices of US$1,450 per ounce for gold
and US$28 per ounce for silver, based on the 3 year average historical trend.
On this basis, the following economic highlights for an additional 8 years of
mine life beginning in January 2014 are;
* Total operating revenue of US$684.9 million from estimated sales of 12.11
million ounces of silver and 262,739 ounces of gold.
* Total operating costs of US$282.2 million with estimated cash operating
costs averaging US$11.00 per ounce of silver equivalent over the mine life,
with lower costs in the initial years.
* Total capital costs of US$87.8 million including contingency, but excluding
sunk costs up to April 30, 2013.
* Total pre-tax cash flow of US$302.5 million including estimated cost
deductions of US$5 million for closure and US$1.8 million for working
capital.
* Base Case pre-tax net present value of US$243.7 million (DCF (at) 5%),
including 2013 estimated net cash flow of US$20 million at $1,250 per ounce
of gold and US$19.50 per ounce of silver, after effective date of April
30, 2013.
* An internal rate of return of 88% based on incremental project economics,
excluding sunk costs up to April 30, 2013.
* Payback period of 1 year.
* Silver equivalent based on a ratio of 70:1, which includes average
metallurgical recoveries of 92% gold and 67.5% silver for all milling ores.
Using lower prices of US$1,250 for gold and $19.50 for silver, new calculations
showed a pre-tax-net present value of US$128.7 million ( DCF (at) 5%), and an
internal rate of return of 49%.
This plan excludes an estimated 750,000 tonnes of heap leach spent ore which
will be placed on the pad in 2013 and accounted for in early 2014 as additional
material for reprocessing during the mine life.
J. Scott Drever, Chairman and CEO stated, "We are extremely pleased with the
results of the Pre-Feasibility Study which confirms our expectations that the
transition from our open pit heap leach operation to a conventional mill and
underground operation will represent a very attractive project with robust
economics even at current reduced metal prices. The 8 year mine life will give
SilverCrest a strong corporate cash flow providing a solid foundation for
continued systematic and aggressive growth. We look forward to a banner year in
2014 with the commissioning of the new processing facility in the first quarter
and the significant expansion of our annual metals production at Santa Elena."
The economic analysis includes the future delivery of 31,000 ounces of gold to
Sandstorm Gold (TSX:SSL) (NYSE MKT:SAND) at a price of US$350 per ounce, under a
2009 purchase agreement. It does not however, include Sandstorm's option to
participate in the future underground mine production at different and higher
price levels.
For more detailed information, please refer to the company's latest news release
and the new NI 43-101 Technical Report on Sedar.com.
The company is also rapidly advancing the definition of a large polymetallic
deposit at its La Joya property in Durango State, which has stated resources
nearing 200 million ounces of silver equivalent.
SilverCrest currently trades at $1.83, and with 108.6 million shares
outstanding, the company is capitalized at $199 million.
For more information please visit the company's website
www.silvercrestmines.com, contact Fred Cooper at 1-866-691-1730 or email
info(at)silvercrestmines.com.
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 26.07.2013 - 17:07 Uhr
Sprache: Deutsch
News-ID 282229
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