Fundamental Research Issues Research Report on SilverCrest Mines (TSXV:SVL) - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, August 26, 2011 - Fundamental Research Corp has
issued an update report on SilverCrest Mines (TSXV:SVL), giving the company a
price target of $2.61, along with a speculative buy recommendation. This is 74%
above today's $1.50 price.
InvestmentPitch.com has produced a "video news alert" about SilverCrest Mines.
If this link is not enabled, please visit www.InvestmentPitch.com and enter
"SilverCrest" in the search box.
SilverCrest Mines Highlights
SilverCrest is a Mexican precious metals producer with headquarters in
Vancouver, BC.
In May, the company completed a financing through the issuance of 18,750,000
shares at $1.60. This was a bought deal offering, underwritten by Canaccord
Genuity and Jennings Capital, and raised $30 million in gross proceeds.
SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is
located 150 kilometres northeast of Hermosillo, near Banamichi in the State of
Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer,
with an estimated life of mine cash cost of US$8 per ounce of silver equivalent.
The company announced its first production from Santa Elena in July, and
reported that from Sept 2010 until June 2011, the company produced 194,000
ounces of silver and 11,000 ounces of gold. The company estimates that it will
produce 430,000 ounces of silver and 26,000 ounces of gold in 2011, growing to
478,000 ounces of silver and 32,000 ounces of gold in 2012.
Fundamental research stated, "Overall, we were extremely pleased to see the
company's ability to ramp up production since our previous report in October
2010, and that commercial production was achieved as per the expected timeline."
The company has a second property, the Cruz De Mayo, located just 35 kilometres
away, making it possible for both properties to share the same facilities and
infrastructure.
Between the two properties, they report 361,600 ounces of gold Indicated and
168,500 ounces of gold Inferred, and for silver they report 19.5 million ounces
Indicated, and another 23.6 million ounces Inferred.
In December 2010, SilverCrest acquired the La Joya property, which is located
75 kilometres southeast of Durango, Mexico. The property is close to several
operating mines, including the San Martin Mine, Sabina Mine, La Colorada Mine,
and the La Parrill Silver Mine.
This property is currently undergoing a 25 hole (5,000 metres) drilling program
to confirm some of the historical results as well as verify the company's
interpretation of its geological model and to establish continuity of the
mineralized mantos within the skarn deposit both along strike and laterally
across the apex of a prominent anticlinal axis. Early results have been
encouraging as they've confirmed the continuity of the shallow dipping mantos
and the mineralized, vertical cross structures, and doubled the strike length to
approximately 700 metres.
As we mentioned before, the shares are trading at $1.50, and with approximately
86 million shares outstanding, the company is capitalized at approximately $129
million. The company has $34 million or $0.40 per share in cash. Fundamental's
target is $2.61.
For a more information on SilverCrest Mines, or to obtain a copy of the
Fundamental report, please visit their website at www.SilverCrestMines.com, or
phone Fred Cooper at 604-694-1730 or email info(at)silvercrestmines.com.
You can also obtain a copy of the Fundamental research report from
www.researchfrc.com.
InvestmentPitch.com is 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.
CONTACT:
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Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 29.08.2011 - 23:14 Uhr
Sprache: Deutsch
News-ID 60279
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