Standard & Poor's Initiates Factual Stock Report Coverage on SilverCrest Mines Inc.
Standard & Poor′s announced today that it has commenced Factual
Stock Report coverage on SilverCrest Mines Inc.
SilverCrest Mines Inc. (TXV:SVL) is a precious metals producer operating
in Mexico with headquarters based in Vancouver, British Columbia.
SilverCrest's flagship property is the 100%-owned Santa Elena Mine,
which is located 150 kilometers northeast of Hermosillo, near Banamichi
in the State of Sonora, Mexico. The mine is a high-grade, epithermal
gold and silver producer. SilverCrest anticipates that the
2,500-tonne-per-day facility should recover approximately 4,805,000
ounces of silver and 179,000 ounces of gold over the 6.5-year life of
the open pit phase of the Santa Elena Mine.
During the three-month period ended June 30, 2011, 74,678 ounces of
silver and 5,476 ounces of gold were produced as dore, with a
significant amount of silver and gold still in solution for processing
and recovery as of late August 2011. SilverCrest sold 70,326 ounces of
silver and 4,300 ounces of gold. The company delivered 860 ounces of
gold under its gold stream contract with Sandstorm, and delivered 3,440
ounces under the gold price protection program with Macquarie Bank. On
July 13, 2011, SilverCrest reported that it had achieved commercial
production at its 100%-owned Santa Elena Mine.
The company further reported that during 2011, which will be a partial
year at full production rates, and based on the current life of mine
plan, the mine was expected to produce approximately 430,000 ounces of
silver and 26,000 ounces of gold. The first full year of production will
be 2012 during which the mine was expected to produce 478,000 ounces of
silver and 32,000 ounces of gold. From 2013 through 2016, a significant
increase in recovered silver ounces was expected, lifting silver
production to an estimated 750,000 to 1.1 million ounces per year,
according to the company.
The company's other mineral properties include the Cruz de Mayo Project
(Mexico), the La Joya Property (Mexico), the Silver Angel Project
(Mexico) and the El Zapote Project (El Salvador). The Cruz de Mayo
Project consists of two mineral concessions comprising a total of 452
hectares, containing approximately 15 million ounces of silver with
minor gold.
S&P
Factual Stock Report coverage on SilverCrest Mines Inc will also be
accessible on an ongoing basis to the investment community by scores of
buy-side institutions and sell-side firms that utilize S&P research and
information platforms daily. Millions of self-directed investors also
have access to the report via their e-brokerage accounts. Please visit www.silvercrestmines.com
for additional information.
About Standard & Poor's Factual Stock Reports
This Standard & Poor′s service provides factual research coverage
enabling information about SilverCrest Mines Inc and other
securities to reach a wide investor audience of Buy and Sell-side
investors, helping them understand a company′s fundamentals and business
prospects. Currently profiling over 500 issuers, S&P Factual Stock
Reports increase market awareness for issuers in the investment
community with insightful commentary and key statistics/information.
Updated weekly with the latest pricing, trading volume, and other data,
the reports include recent developments, a financial review, key
operating information, Industry and peer comparisons, institutional
holdings analysis, Street Consensus and opinions, performance charts,
business summary, fundamental data, and news. Because coverage of these
reports is sponsored by the issuer, S&P does not offer investment
opinions concerning the advisability of investing in these stocks.
Standard & Poor′s Factual Stock Reports are produced separately from any
other analytic activity of Standard & Poor′s. Standard & Poor′s Factual
Report research has no access to non-public information received by
other units of Standard & Poor′s. Standard & Poor′s does not trade on
its own account.
Note:All U.S. and Canadian Companies listed on a National
Exchange (not covered by S&P′s STARS research) are eligible to obtain
this coverage.
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SilverCrest Mines Inc:
J. Scott Drever, 604-694-1730
scott@silvercrestmines.com
or
Standard
& Poor's:
Customer Contact:
Richard Albanese,
212-438-3647
richard_albanese@standardandpoors.com
or
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Michael Privitera, 212-438-6679
michael_privitera@standardandpoors.com