DESCRIPTION: SilverCrest Mines Inc. is an emerging gold and silver producer based in Vancouver, BC. SilverCrest’s substantial portfolio of precious metal deposits and additional quality exploration projects includes properties in Mexico and El Salvador. The company’s flagship property is the 100%-owned Santa Elena Mine, which is located 150km northeast of Hermosillo, near Banamichi in the Sonora State of México.Santa Elena will be a high-grade, epithermal gold and silver producer, which will process 2,500 tons per day from a heap-leach operation.
SilverCrest featured on resourceINTELLIGENCE (7/5/10) Watch David Morgan interview with COO Eric Fier
The information provided below is based on the most recent information we have received from analysts, newsletters and other contributors to Streetwise Reports' The Gold Report or The Energy Report. We encourage you to visit the company's web site and call the company for more specifics on this company before you decide to invest.
"I was not able to get a hold of CEO Scott Drever, but I understand the company is getting ready to do their first pour of metal in the next month.
Our share price has perked up again with the increase in gold and silver prices. The get together for their first pour will bring much needed attention to our stock. . .SilverCrest is a BUY on any weakness below a $1."
David Morgan, Morgan Report
(07/06/10)
"SilverCrest has been making steady progress constructing its first open-pit mining operation—Santa Elena. . .and is now gearing up to commence production. The first pour is targeted for [late] Q310. In the meantime, the 2500-tpd (based on a 14-hour workday) crusher is under optimization, leach pads are being loaded and 50,000 tons of ore are being stockpiled for future processing. The Merrill-Crow Unit is being put together and should be ready within 30 days, as should the first batch of ore on the leach pad. Annual production is targeted at 35,000 oz. Au, plus 600,000 oz. Ag with projected cash cost of gold-equivalent at $300/oz. and average cash cost of $375/oz. Au during the life of the mine. . .SVL has hit every milestone at Santa Elena and is actively looking for more projects to add to the pipeline."
Greg McCoach, Mining Speculator
(06/23/10)
"The company made a major press release in late May stating that production at Santa Elena was underway. The share price has remained solid over the $1.00 level, and the company is poised to make a run to much higher levels with such a tight share structure.
. . .Silver Crest is a STRONG BUY on any weakness below a $1.00."
Greg McCoach, Mining Speculator
(05/12/10)
"Shares of SVL are back over the $1.00 level this morning as some major news announcements from the company are forthcoming. I expect we will have plenty to talk about shortly as the company outlines their production plans at Santa Elena.
With silver prices getting ready to run, SVL's timing seems to be just perfect for a major rise in our share price. Patient shareholders will soon be rewarded in my opinion.
I did talk with CEO Scott Drever today who told me that the leach pads are all complete and ready to go. The crusher will begin trial runs next week and 30,000 tons of ore should be ready to run through the mill by month end. This would allow 30,000 tons to be stacked on the heap leach some¬time in June.
Everything at the Santa Elena mine is on time and on budget. We expect to have our first pour of met¬al and commercial production achieved by end of the year. Once commercial production is underway, the mill will be processing 2,500 tons of material per day. At that rate, it is expected that SVL will be producing roughly 35,000 ounces gold and 600,000 to 800,000 ounces silver in its first full year.
Silver Crest is now a STRONG BUY."
The Gold Report Interview with David Morgan (05/03/10)
"SilverCrest Mines Inc. is another one that we own. The only thing I'll comment about SilverCrest is that I like a lot of things about it. One thing about a heap-leach program is that gold leaches out pretty nicely. Silver doesn't really leach that well. The reason that SilverCrest is going to do well on a heap-leach situation is because there's a fair amount of gold in that project. You're going to get a lot of gold content. You'll get silver with it, but again silver doesn't leach out in the percentage basis that gold does. Gold leaches out much higher percentage-wise than silver does. So you're going to get a fair amount of silver actually that's going to be sitting in the tailings, but that's the way it is."
View Entire Article: David Morgan: The Latest Skinny on Silver
SilverCrest featured on resourceINTELLIGENCE (7/5/10)
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