SilverCrest Mines Inc. (TSX:SVL; NYSE MKT:SVLC) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest’s flagship property is the 100%‐owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, México. The mine is a high‐grade, epithermal silver and gold producer, with an estimated life of mine of 8 years and operating cash costs of $11 per ounce of silver equivalent (55:1 Ag:Au) for the open pit heap leach and underground mine. SilverCrest anticipates that the new 3,000 tonnes per day conventional mill facility at the Santa Elena Mine should recover an average annual rate of 1.5 million ounces of silver and 32,800 ounces of gold over the current reserve. Major expansion and construction of the 3,000 tonnes per day conventional mill facility is nearing completion and is expected to significantly increase metals production at the Santa Elena Mine (open pit and underground) in 2014 and beyond. Exploration programs continue to make new discoveries at Santa Elena and also have rapidly advanced the definition of a large polymetallic deposit at the La Joya property in Durango State with stated resources of almost 200 million ounces of Ag equivalent.
13/03/2013Scott Drever, President of SilverCrest Mines(CVE:SVL), tells Proactive Investors that, as a low-cost producer, the company is in good shape to weather the storm until the markets turn. He also talks about expansion plans for Mexico's Santa Elena mine as well as the new reserve and resource estimates at the site, which are due in early April.
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SilverCrest Mines Inc. (TSX: SVL; NYSE MKT: SVLC) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest’s flagship property is the 100%‐owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, México. The mine is a high‐grade, epithermal silver and gold producer, with an estimated life of mine of 8 years and cash costs of $11 per ounce of silver equivalent (55:1 Ag:Au) for the open pit heap leach and underground mine.
- The 3,000 tpd mill and Counter Current Decantation / Merrill Crowe (“CCD/MC processing”) plant is approximately 90% physically complete. The current construction activities are focused on piping and electrical work for all mill components.
- The mill is now scheduled to start up late Q1 2014, due to a one month delay in receiving the ball mill.
- Total underground development progressed to 2,265 metres: lateral development of 805 metres and main decline ramp to 1,460 metres in length as of December 31, 2013.
- A 1,500 metre underground drill program was completed to assist with detailed design of initial production stopes. Mining of these stopes is anticipated in the second half of 2014.
- The Company is targeting commissioning of the plant in the second quarter of 2014. The Initial mill feed will be from the open pit, transitioning to an underground and heap leach pad ore mix in the third quarter of 2014.
MANAGEMENT & DIRECTORS
SCOTT DREVER - CHIEF EXECUTIVE OFFICER AND CHAIRMAN OF THE BOARD
Scott Drever has 45 years of geological expertise. He has dealt extensively with strategic planning, mergers & acquisitions, and operations for international mining corporations. Mr. Drever has served as an Executive Officer and Director of a number of public companies listed on the TSX and the TSX Venture Exchange, including Placer Dome Ltd., Blackdome Mining Corp., and Goldsource Mines Inc.
ERIC FIER, CPG, P.ENG - PRESIDENT, CHIEF OPERATING OFFICER AND DIRECTOR
Eric Fier has over 25 years of international experience in a senior capacity including exploration, acquisition, development and production of numerous mining projects in Chile, Brazil, Honduras, Mexico and Peru. His background includes project evaluation and management, reserve estimation and economic analysis, as well as operations management. Mr. Fier previously served as Chief Geologist with Pegasus Gold Corp., Senior Engineer and Manager with Newmont Mining Corp., and Project Manager with Eldorado Gold Corp.
BARNEY MAGNUSSON, CA - CHIEF FINANCIAL OFFICER AND DIRECTOR
Barney Magnusson has spent more than 30 years in corporate finance and public company management. He has actively been a part of management teams responsible for structuring and building rapidly expanding companies. Mr. Magnusson is a former Senior Officer and Director of six mining companies that developed, constructed or operated eight precious metal mines in North- and South America: Dayton Mines Inc. (Chile), High River Gold Mines Ltd. (Manitoba, Canada) and Brohm Resources Inc. (South Dakota, USA).
BRENT MCFARLANE - VP OPERATIONS
Brent McFarlane has over 25 years of diverse experience, including over 10 years in senior management positions in Latin America.He has managed all phases of open pit and underground mining projects and has been instrumental in leading projects through feasibility, construction, and into production.Mr. McFarlane previously worked as a project engineer with Pegasus Gold Corp, General Manager with Knight Piesold at Yanacocha, and Country Manager for Minefinders Corp. Ltd. in Mexico.
MARCIO FONSECA, P.GEO., MSC - VP CORPORATE DEVELOPMENT
Marcio Fonseca has over 20 years experience. He has served as Division Director at Macquarie Metals & Energy Capital with focus on equity and debt financing for the mining sector over the last 9 years. Prior to that, he held corporate positions in business development, project development, operations and exploration with Vale and Phelps Dodge in Latin America.
Marcio Fonseca holds a MSc in Mining Project Appraisal from Imperial College, London in a joint programme between Imperial College Department of Earth Science and Engineering and Imperial College Business School program.
SALVADOR AGUAYO SALINAS, PH.D. - VP DEVELOPMENT - MEXICO
Salvador Aguayo Salinas holds a Ph. D. in Hydrometallurgy from the Imperial College of Science and Technology (United Kingdom). He previously worked as a professor at the Universidad de Sonora, actively engaged in research in the areas of base metals chemical extraction, recovery, and effluent treatments. He has more than 25 years of experience in the areas of leaching and recovery of precious metals. He has been a consultant for several mining companies including Hecla Mining, El Dorado and Grupo Mexico.
BERNARD POZNANSKI, B.SC., LLB, LLM- CORPORATE SECRETARY
Bernard Poznanski has a broad legal background in corporate finance, mergers & acquisitions and securities law. He has acted for a wide variety of companies listed on the Toronto Stock Exchange, the TSX Venture Exchange, the American Stock Exchange and NASDAQ. Mr. Poznanski is one of the founding partners of Koffman, Kalef and currently heads the firm's securities group.
GEORGE W. SANDERS - DIRECTOR
George Sanders has a background spanning almost 30 years in mining and exploration finance. He previously worked as a mining analyst, a stockbroker specializing in resource issues and in managing a wide range of exploration finance activities. Mr. Sanders has held positions with Canaccord Capital Corp., Richmont Mines Inc., Consolidated Cinola Mines Ltd., and Shore Gold Inc. He is currently President and Director of Goldcliff Resource Corporation, a gold explorer focused on new discoveries is historic mining districts.
GRAHAM C. THODY, CA - DIRECTOR
Graham Thody has spent more than 30 years in corporate finance and public company management. His focus has included audits of reporting companies, IPO's, corporate mergers & acquisitions, as well as domestic and international tax matters. Mr. Thody is a former partner of Nemeth Thody Anderson, Chartered Accountants. He is currently a director of several reporting corporations which are involved in mining exploration and development throughout North, Central and South America.
ROSS GLANVILLE, P.ENG., (B.A.SC., 1970; P.ENG, 1972; MBA, 1974; CGA, 1980) - DIRECTOR
Mr. Glanville has over forty years of resource-related experience in numerous countries, and has been involved in the exploration, financing, development, and operation of a number of mines. Mr. Glanville has specialized in valuations, fairness opinions, and litigation support, often as expert witness, related to the mining and exploration industry. He has prepared hundreds of valuations and fairness opinions for mining and exploration companies in North America, Africa, Australia, South America, Asia, and Europe. Mr. Glanville has formed public companies, listed on the Toronto Stock Exchange, the Australian Stock Exchange, NASDAQ, and the TSX Venture Exchange, and has served on the Boards of Directors of four companies with producing mines.