00:14:59 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Silvercrest Mines Inc
Symbol SVL
Shares Issued 118,753,205
Close 2014-11-19 C$ 1.55
Market Cap C$ 184,067,468
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Lundin says buy Silvercrest Mines on weakness

2014-11-19 23:55 ET - In the News

Brien Lundin, in the November, 2014, edition of the Gold Newsletter, says buy Silvercrest Mines Inc., recently $1.43. Mr. Lundin said buy three times between July, 2012, and February, 2014, at prices ranging from $1.64 to $2.55. Assuming a $1,000 investment for each of the three buys, the $3,000 position is now worth $2,107. Mr. Lundin says Silvercrest is starting to reap the benefits of transitioning its Santa Elena mine in Mexico to an underground operation from the previous open pit. In the third quarter of 2014, the mine produced 385,251 ounces of silver, up 90 per cent over the same prior-year period. Silver-equivalent production also reached a record 810,334 ounces. In August, Silvercrest finished commissioning a new 3,000-tonne-per-day mill and achieved an average throughput of about 2,500 tpd over 30 continuous days. The company expects production to ramp up further in the fourth quarter to hit its revised annual guidance of three million to 3.3 million ounces of AgEq. The lack of silver-predominant miners makes Silvercrest a solid company to have in one's portfolio, says Mr. Lundin. This is the stock to "peck away at" if the market dampens its price further, he concludes.

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