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SilverCrest Mines – Marcio Fonseca, VP Corporate Development

On Friday we spoke to Marcio Fonseca, VP Corporate Development at SilverCrest Mines. Marcio updated us on the ongoing expansion at the company’s flagship property, the Santa Elena Mine.

Among other things, we talked about how the planned increased waste stripping in Q1 will benefit the company’s profitability greatly in the coming quarters. Marcio also explained how low the actual strip ratio will be by year-end as the Santa Elena OP depletes and goes underground. With lower production cost going forward, the company will still clear a good ~ US$2.5 million per month (net) despite the downturn in the precious metals. That is sweet music to our ears and our assessment in December -12 when we added SVL to our portfolio was correct, SilverCrest has handled these markets better than most other juniors.

Next immidiate trigger is the resource update and expansion plans for the Santa Elena mine. SilverCrest Mines (SVL.V in Canada and SVLC in the U.S.) is our largest holding currently.

(Download mp3)

Download Silvercrest’s latest presentation (pdf).