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Bullboard - Stock Discussion Forum SilverCrest Mines Inc SVLC

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SilverCrest Mines Inc > NEWS... Record production
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Post by intowin on Jan 12, 2012 9:19am

NEWS... Record production

SilverCrest Reports Record Production in Q4 at Santa Elena;

1 hour ago - ACQUIREMEDIA

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2012) - SilverCrest Mines Inc. (TSX VENTURE:SVL)(OTCQX:STVZF)(PINKSHEETS:STVZF) (the "Company") is pleased to announce record production of silver and gold was achieved in the Fourth Quarter, 2011 from the Santa Elena Mine located in Sonora, Mexico.

Santa Elena Mine Production Highlights: Fourth Quarter, 2011 compared to Third Quarter, 2011

--  Silver production up 23% to 131,045 ounces--  Gold production up 8% to 9,536 ounces--  Silver equivalent production up 16% to 667,766 ounces--  Silver ounces delivered to pad up 33% to 524,375--  Gold ounces delivered to pad up 12% to 20,094--  Tonnes crushed up 30% to 328,945

During the first year of production the mine produced 377,071 ounces of silver and 26,969 ounces of gold (1,737,418 ounces of silver equivalent, Ag:Au ratio 50.4:1). 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, President stated; "We are certainly pleased with the continuous improvements being made at the Santa Elena Mine. 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. The improvements in production numbers will be reflected in our year end financial results to be released towards the end of March. Our substantial operating cash flow has enabled us to retire our US$12.5 million bank debt. Our strong cash position of US$26.2 million at year end assures that we can continue with our Expansion Plan to double production at Santa Elena and to aggressively explore the La Joya property where the Company has a major new discovery".

                     -------------------------------------------------------Santa Elena Mine Operating Highlights:                2011    Q4 2011    Q3 2011    Q2 2011    Q1 2011----------------------------------------------------------------------------Silver ounces produced                377,071    131,045    106,636     74,678     64,712Gold ounces produced      26,969      9,536      8,805      5,476      3,152Silver equivalent ounces produced (1)   1,737,418    667,766    575,079    310,090    184,483Silver ounces sold       344,546    120,199     96,631     70,326     57,390Gold ounces sold          23,962      9,702      7,627      4,300      2,333Tonnes Ore               981,590    328,625    248,192    249,214    155,559Tonnes waste           3,697,291  1,417,413  1,058,909    708,049    512,920Waste / ore ratio           3.77       4.31       4.27       2.84       3.30Ore tonnes crushed     1,050,022    328,945    253,496    249,054    218,527Average ore tonnes crushed per day           2,877      3,575      2,755      2,737      2,428Average silver ore grade (gpt) loaded on pad                    44.77      49.55      48.47      44.09      34.07Average gold ore grade (gpt) loaded on pad                     1.82       1.90       2.20       1.91       1.14Silver ounces delivered to pad      1,511,807    524,375    395,068    352,995    239,369Gold ounces delivered to pad                   61,280     20,094     17,912     15,268      8,006Ag:Au Ratio (1)           50.4:1     56.3:1     53.2:1       43:1       38:1----------------------------------------------------------------------------(1) Silver equivalence was calculated using the market spot rates per goldand silver ounce at the quarter end date
Comment by 1Eagle1 on Jan 12, 2012 11:44am
I s this the best the share price can do with all this news and the recent update on resources and the payoff of debt ? There is nervousness in the market that says we are in the early stages of a major sell off
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