RE: silvermex was naked Hello Culibay!
Your comments sorta took me aback, me being an original Silvermex shareholder 'an all. Then, when it was picked by Google and showed up in my email as well, I thought I should take a moment and respond.
Actually, there's a lot more to the original Silvermex properties than just St Marcial. It seems the reason the company wrote St Marcial down now is really for two reasons:
a) The present resource is just limited in size, and wouldn't therefore justify a stand-alone plant. That could be changed by more drilling on the property, but they obviously prefer to allocate their money to drill expenditures at La Guitarra right now.
b) That being the case, it is better to write it down now, which keeps the balance sheet nice and clean, rather than possibly having to do that in a later financial period when Silvermex net profits should be swinging into high gear and making people sit up and listen.
But, your point that Silvermex had nothing other than St Marcial is not correct! You are missing Rosario, which is a stand-alone operating mine 12kms to the north of St Marcial. It was owned by Groupo Mexico and was shut down in 2001 due to low metal prices and labour issues. It has two production centres (mines), Plomosas and San Juan which fed the mill. It has extensive infrastructure already in place. In fact, I understand that a drill program is planned to start very soon to test the extension of the main zone at Plomosas. So that certainly isn't a dead issue, by any stretch of the imagination.
For the present, La Guitarra (the cash producer) is rightly the place to spend most of the cash they are presently generating. Not all of it, just the lion's share.
So, I think that there is more to the original Silvermex than its management, although that is impressive in itself.
But I understand the confusion! I have a job myself sorting out all these resource locations. I've tried creating a Google collection of Silvermex's exact locations; some I have got sorted out, but some I haven't.
Anyway, with kindest regards,
Sunwood