svl
SilverCrest Mines* (SVL : TSX-V : $2.30), Net Change: 0.03, % Change: 1.32%, Volume: 242,770
The Magic 8 Ball says "YES". SilverCrest Mines continued its string of positive news releases, with the company announcing
record production from its Santa Elena silver/gold mine in Mexico. Highlights from the announcement include record silver
production in Q4/2011 of 131,045 ounces and record gold production of 9,536 ounces. During the first year of production the
mine produced 377,071 ounces of silver and 26,969 ounces of gold. The first full year of commercial production will be 2012
during, which the mine is expected to produce approximately 435,000 ounces of silver and 33,000 ounces of gold. J. Scott
Drever, SilverCrest President stated, "All aspects of the operations are at or above design capacities. This is reflected in the
steady increase in the overall performance statistics and more specifically in the record number of ounces of silver and gold
poured on site and sold out of the refinery." This news follows other positive announcement from the company, including a
robust initial silver resource from their La Joya property in Mexico along and the retiring of US$12.5 million in debt.
Thursday's production numbers were above Canaccord Genuity Mining Analyst Nicholas Campbell's estimates of 111,807
ounces of silver and 9,018 ounces of gold. With US$26.2 million in cash the company appears well positioned to expands its
Santa Elena mine and aggressively explore and develop its La Joya property.