SilverCrest Mines (TSXV:SVL) (NYSE-MKT:SVLC) Completes Preliminary Economic Assessment for La Joya Silver Copper Gold Project in Durango, Mexico - Video News Alert on InvestmentPitch.com
(Thomson Reuters ONE) -
SilverCrest Mines (TSXV:SVL) (NYSE-MKT:SVLC) Completes Preliminary Economic
Assessment for La Joya Silver Copper Gold Project in Durango, Mexico - Video
News Alert on InvestmentPitch.com
Vancouver, British Columbia, October 22, 2013 - SilverCrest Mines (TSXV:SVL)
(NYSE-MKT:SVLC) has announced the completion of the Preliminary Economic
Assessment for its La Joya Silver Copper Gold Project, located in Durango,
Mexico.
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 report focuses on the first stage of La Joya development as a low strip,
open pit with an initial 9 year life of mine plan, with further opportunities
for expansion. This approach provides attractive economic returns using
conservative metal price estimates and lower initial capital costs, which are
more attractive in the current market.
The conceptual open pit operation would be in conjunction with a 5,000 tonnes
per day conventional mill and floatation/leaching plant to produce a high grade
silver-copper concentrate with gold credits. The concentrate will be shipped
overseas by trucking from site to a port in Mexico, which is the common route
for operations near La Joya.
The Starter Pit will have a conceptual average annual production of 3.9 million
silver equivalent ounces per year. The report anticipates strong revenues in the
initial 4 years of operation, from annual production of approximately 5 million
silver equivalent ounces, and a decrease in revenues in subsequent years due to
a decrease in the grades.
Pre-production capital costs are estimated to total US$141 million including
contingencies of US$17 million, with a payback period of approximately 2 years
on initial capital. Using Base Case metal prices of US$22 an ounce for
silver,US$3 a pound for copper, and US$1,200 an ounce for gold, results in a
pre-tax NPV at 5%, of US$133 million and an Internal Rate of Return of 30.5%.
The Starter Pit economics are more sensitive to silver and copper price, as they
represent 55% and 36% of the total revenues respectively under the base case
scenario. Each 10% increment in metal prices from the base case increases the
pre-tax NPV by approximately $60 million and the Internal Rate of Return by
approximately 8%.
N. Eric Fier, President & COO stated, "The positive results of this PEA will
enable us to plan the next steps, establish achievable milestones and identify
additional studies and analyses to optimize the project economics. We have
engaged extensively with local communities at this early stage of the La Joya
project development, emphasizing the importance of building collaborative, long
term and sustainable relationships with all stakeholders".
The current Inferred Resources at La Joya provide opportunity for significant
project expansion, as the mineralization is open in most directions.
Furthermore, the PEA does not address the potential for recovery of other
potential products including tungsten, moly, lead, zinc and tin, which may have
significant value.
The company recently announced record 3rd quarter silver production of 202,736
ounces from its main project, the Santa Elena Mine in Sonora, Mexico.
SilverCrest currently trades at $2.00, and with 108.9 million shares
outstanding, the company is capitalized at $218 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.
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Source: InvestmentPitch via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 22.10.2013 - 16:05 Uhr
Sprache: Deutsch
News-ID 308230
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