05:31:25 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Silvercrest Mines Inc
Symbol SVL
Shares Issued 118,728,205
Close 2014-08-21 C$ 2.14
Market Cap C$ 254,078,359
Recent Sedar Documents

Lundin comments on Silvercrest Mines

2014-08-21 21:16 ET - In the News

Brien Lundin, in the August, 2014, edition of the Gold Newsletter, comments on Silvercrest Mines Ltd., recently $2.08. 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 $3,065. Mr. Lundin says Silvercrest released some disappointing (but perhaps unsurprising) operational results from its main Santa Elena mine in Mexico. During Q2 2014, the mine produced 173,000 ounces of silver, an 11-per-cent decrease from Q2 2013. Gold production also dropped, by 46 per cent, to 3,995 ounces. The drop-off was to be expected, says the editor, as Silvercrest is in the middle of transitioning Santa Elena to an underground mine from an open pit. It managed to stockpile 29,000 tonnes of ore during Q2. The company is anticipating higher metal recoveries and increased production in the second half of the year, but has not changed its guidance. Mr. Lundin notes that the market seems unfazed by the less-than-stellar Q2 results: Silvercrest's share price has since been bouncing around above the $2 mark. Buy on any weakness following the release of Silvercrest's Q2 financial results.

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