Point Roberts, WA / New York, NY - June 14, 2013 (Investorideas.com
Mining Stocks Newswire) Investorideas.com, a leader in sector research
for independent investors, including mining stocks, presents an
exclusive Q&A with SilverCrest Mines Inc. (
TSX.V: SVL ) (
NYSE MKT: SVLC) (CW5.F), a company with its flagship property in the State of Sonora, México.
This interview is part of an ongoing series of articles on
investment opportunities within the four countries of the Pacific
Alliance, (Colombia, Chile, Mexico and Peru) with a primary focus on
mining and oil and gas stocks.
Q: Investorideas.com
Scott, can you give investors a brief history of when your company first invested in the Mexico property and why ?
A: J. Scott Drever ,
Chief Executve Officer, Chairman
SilverCrest had its first major effort in Mexico in 2005 with the
acquisition of the Santa Elena project. We transitioned to Mexico from
some very bad experiences in Honduras and El Salvador with changing
mining laws and concentrated NGO opposition to mining. Mexico on the
other hand has turned out to be one of the best jurisdictions for mining
of all the countries I have worked in during my rather lengthy career.
The relatively untapped potential for economic mineral deposits, decent
infrastructure and access along with a pool of qualified people make the
country all that more attractive.
Q: Investorideas.com
Can you give investors a brief update on the reserves and estimates on the Santa Elena Mine, in the State of Sonora, México?
A: J. Scott Drever, Chief Executive Officer
After an extensive program of development drilling over the last 12
months we recently announced new reserve and resource estimates for
Santa Elena. Our total probable reserve currently stands at 8.19 million
tonnes grading 1.24 gpt gold and 74.9 gpt silver and containing 327,000
ounces of gold and 19.75 million ounces of silver. This should be
sufficient reserves for approximately 8 years of production starting in
January of 2014 when our new 3000 tonne per day conventional mill should
be operational. Of course there are also indicated and inferred
resources containing another 188,000 ounces of gold and 15.36 million
ounces of silver. We are also making discoveries of additional zones as
we continue to explore and develop the underground reserves so we are
confident the mine life can be extended beyond the expected 8 years..
Q: Investorideas.com
The company has announced expansion plans to almost double the
annual metals production in 2014 at the Santa Elena Mine. Separate from
the company, is there direct benefit back to the State of Sonora and
Mexico?
A: J. Scott Drever ,
Chief Executive Officer
The returns to the local, state and federal governments take the
form of corporate taxes, direct and spin off employment benefits,
utilization of construction and operating contractors and service and
equipment purchases from local suppliers. We currently have
approximately 450 people on site engaged in our operations and
construction of the mill related facilities. SilverCrest has about 150
direct
employees
with contractors for operations and construction employing another 300
people nearly all of which are Mexican nationals and all of which pay
state, federal and local taxes. Through our Corporate Social
Responsibility initiatives we provide support for such things as
municipal infrastructure, community improvement projects, health care
and scholarships for local graduates.
Q: Investorideas.com
Since you have been involved in Mexico, what have been the biggest obstacles to overcome in mining there ?
A: J. Scott Drever, Chief Executive Officer
Compared to other jurisdictions I have worked in the challenges in
Mexico have been minimal. We have had excellent cooperation from all
levels of government, there is rule of law where ever we have worked and
most importantly the mining law and environmental permitting process
are well established. If you do things in a proper manner the permits
will be forth coming in a timely manner. SilverCrest’s main challenge in
developing the Santa Elena was not anything in Mexico but the dearth of
financing options during in the 2008-09
financial crisis.
Q: Investorideas.com
The intent of the recent formation of the Pacific Alliance
( Colombia, Mexico, Chile and Peru) was to create an environment that is investment friendly and to encourage new
business
and trade. Do you see improvements that would motivate new companies to
enter the mining space, since that is your area of expertise?
A: J. Scott Drever, Chief Executive Officer
I am not terribly familiar with the mandate of the Pacific Alliance
nor have I seen any of their specific initiatives. However, from my
perspective, based of some fairly subjective information, I would say
that Colombia has made some positive progress, most of Mexico is still
very attractive for mining projects but I think both Peru and Chile have
regressed in terms of creating an attrative environment for mining
investment.The recent moves by many governments to secure greater and
greater interests in or returns from mining projects without assuming
any of the risks is certainly a disincentive to most mining companies.
About SilverCrest Mines Inc.
SilverCrest Mines Inc. (TSX VENTURE: SVL) (NYSE MKT: SVLC) is a
Canadian precious metals producer headquartered in Vancouver, BC.
SilverCrest's flagship property is the 100%-owned Santa Elena Mine,
located 150 km northeast of Hermosillo, near Banamichi in the State of
Sonora, México. 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 open pit heap leach facility at the Santa Elena mine
should recover approximately 625,000 ounces of silver and 33,000 ounces
of gold in 2013. An expansion plan, which is centered on the
construction of a 3000 tonne per day conventional mill, is well underway
to increase the annual metals production in 2014 by about 60% at the
Santa Elena Mine (open pit and underground). Exploration programs have
rapidly advanced the definition of a large polymetallic deposit at the
La Joya property in Durango State with stated resources nearing 200
million ounces of Ag equivalent.
www.silvercrestmines.com
About the Pacific Alliance:
The Pacific Alliance is the coalition of four countries with a
coastline facing the Pacific Ocean ( Colombia, Mexico, Chile and Peru),
seeking to act as a bloc on topics of trade and investment to ensure
open mobilization of goods, services, capital and people. The Alliance
was created in April 2011 by the Lima Declaration.
The Alliance is based on the affinity between these countries on
matters related to market economy, openness to foreign investment,
increased trade strategy and political and economic relations with the
Asia-Pacific region.
The four countries that make up the coalition represent about 206
million people (equivalent to the total population of Brazil) and
generate a gross domestic product (GDP) of U.S. $ 1.7 billion,
equivalent to 34% percent of Latin America, with a GDP per capita of
around U.S. $ 11 billion. Colombia, Mexico, Chile and Peru account for
half of the region's foreign trade: U.S. $ 471 billion in exports and $
453 billion in imports and are recipients of nearly $ 53 billion in FDI
2.
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advertising. Disclosure: SilverCrest Mines has compensated
Investorideas.com for the distribution and publishing of this news
release (annual news publication 9700)
Note: all content in this Q&A is based on recently reported results from the company.
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Contact SilverCrest Mines: Fred Cooper
Telephone: (604) 694-1730 ext. 108
Fax: (604) 694-1761
Toll Free: 1-866-691-1730
Email:
info@silvercrestmines.com
Website:
www.silvercrestmines.com
Contact
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