"That experience really showed with Santa Elena, SilverCrest's Sonora mine. It has good grades and pretty much an even mix between gold and silver in value. The team has managed to get it financed at the bottom of the market in 2009, which was no easy feat, and built it for a little more than $20M, which is pretty amazing. It's producing silver equivalent at $8.50/oz. That's quite a bit better than most. Santa Elena expansion is most of the way through. Santa Elena started out as a heap leach, but SilverCrest is building a mill, which should start production early next year. That should bring the company up from, say, 2.5 Moz Aqeq to close to 3.5 Moz next year. As the mine gets into deeper, higher-grade material, it should surpass 4 Moz silver equivalent in 2015. La Joya will be more difficult, but I definitely wouldn't bet against management building it on time and on budget and making sure it makes money."