From Desjardin coverage
When the company began exploration of the property in 2016, there were eight known veins; now there are more than 45, only 15 of which are incl uded in the mine plan. After declaring an initial estimate in February 2018 of 61.6moz Ageq of inferred resources, the company has grown its resource base on the property by 124% to now stand at 137.8moz Ageq, with 78% of it in the M&I category. At this rate of resource growth and vein identification, and with so many of the veins already identified but outside the mine plan, we expect the 8.5 years of minelife to be maintained for
a long time.
Management team has a proven blueprint for success
SilverCrest has a management team which has proven to be impeccable stewards of capital, with a track record of value creation for shareholders—and the strong reputation has only been enhanced
at SilverCrest 2.0. CEO Eric Fier led SilverCrest Mines, which discovered, constructed and ramped up the Santa Elena mine to steady-state operations before it was acquired by First Majestic in 2015. The team is on track to repeat that success with La s Chispas, also a silver-gol d discovery on the same mineralized trend in Mexico’s Sonora state. SilverCrest 2.0 has brought in a best-in-the-business mine builder with COO Pierre Beaudoin, who was COO of Detour Gold and who designed and constructed
Detour Lake, as well as a best-in-the-business capital raiser in President Chris Ritchie, who has done a phenomenal job in limiting dilution while raising more than sufficient capital to get Las Chispas
ramped up and cash flowing without any balance sheet concerns. The management team is significantly invested in the success of SilverCrest, collectively owning 4.4% of shares outstanding
according to FactSet data.