The Company reported its financial results for the second quarter ended June 30, 2012 on Wednesday of this week. The stock moved from the $2.05- $2.10 level to trading as high as $2.49 today.
The stock is currently trading at $2.45, up 0.08(3.38%) 1:24PM EDT on over 368,000 shares.
HIGHLIGHTS OF Q2, 2012 (Compared to Q2, 2011):
Cash flow from operations (1) increased 148% to $7.2 million.
Cash operating cost per silver equivalent ounce sold (2) decreased 16% to $6.94.
Revenues reported - IFRS (3) rose 87% to $16.0 million on sales of 124,739 silver ounces and 8,679 gold ounces.
Working capital increased 64% to $29.6 million, up from $18.0 million.
Cash and cash equivalents were $34.9 million (at June 30, 2012).
(All figures in U.S. dollars unless otherwise specified)
http://www.investorideas.com/CO/ SVL/news/ 2012/08151.asp
SilverCrest Mines Inc. (TSX-V: SVL) (OTCQX: STVZF) operates in Mexico and is a low cost precious metals producer with its headquarters based in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag: Au). SilverCrest anticipates that the 2,500 tonnes 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. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango, Mexico.
SilverCrest Mines Inc.
(604) 694-1730 ext. 108
Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
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