SilverCrest Mines (TSXV:SVL) (NYSE-MKT:SVLC) Announces Record 3rd Quarter Silver Production at Santa Elena Mine in Mexico - Video News Alert on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, October 16, 2013 - SilverCrest Mines (TSXV:SVL)
(NYSE-MKT:SVLC) has announced record 3rd quarter silver production at its Santa
Elena Mine in Mexico. Record silver production of 202,736 ounces was an increase
of 4% over the second quarter. Gold production amounted to 7,194 ounces, down
4% from the previous quarter, resulting in a silver equivalent production of
642,877 ounces, a 3% decrease.
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.
Located in the State of Sonora, the 100% owned Santa Elena Mine is a high-grade,
epithermal silver and gold producer.
Although ore tonnes crushed decreased 18% to 251,374 tonnes, with throughput
averaging 2,732 tonnes per day, average grades loaded on the leach pad increased
significantly by 26% for silver and 10% for gold. This decrease in throughput
can be attributed to the adverse weather during the rainy season, as well as the
longer hauls from the pit bottom and contractor equipment availability.
With a current leach cycle lag time of 30 to 60 days on the pad, based on
increasing pad height, higher grades mined and crushed in Q3 should be reflected
in higher Q4 production.
N. Eric Fier, President and COO stated, "For the first nine months of 2013,
silver production was 550,239 ounces and gold production was 21,881 ounces
equaling 1.87 million ounces silver equivalent. We maintain our expectation that
full year production will meet original guidance of 2.44 million silver
equivalent ounces, comprised of 725,000 ounces of silver and 30,000 ounces of
gold. Our continued effective efforts at controlling costs will ensure we
maintain 2013 market guidance cash cost at or below US $8.50 per silver
equivalent ounce with positive cash flow from operations at current metal
prices."
Major expansion and construction of a 3,000 tonne per day conventional mill
facility is on time and on budget with initial mill start up scheduled for
January.
The Santa Elena Mine currently has an estimated life of mine cash cost of US$8
per ounce of silver equivalent for the open pit heap leach, with exploration
programs continuing to make new discoveries.
Silver grades continue to increase and gold grades remain consistent with depth.
The company is also rapidly advancing the definition of a large polymetallic
deposit at the La Joya property in Durango State.
SilverCrest currently trades at $1.60, and with 108.9 million shares
outstanding, the company is capitalized at $174 million.
For more information please refer to the news release of October 15, 2013 on the
company's website www.silvercrestmines.com, or 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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Unternehmensinformation / Kurzprofil:
Datum: 16.10.2013 - 15:50 Uhr
Sprache: Deutsch
News-ID 306491
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