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10yr, Chart NASDAQ
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make sure to read my update.
'Silvercrest Mines Inc. (TSXV:SVL) (SVLC)'
any changes in last ten years ?????
on 'Silvercrest Mines Inc. (TSXV:SVL) (SVLC)'
did this one ever reverse split ?????
part two/ Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 4/1/2015 6:05:51 AM
Annual Report (foreign Private Issuer) (40-f) "Edgar (US Regulatory)" - 3/31/2015 5:12:13 PM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 3/31/2015 4:47:03 PM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 3/30/2015 1:21:54 PM
SilverCrest Announces Surface Drilling Results at Santa Elena Mine "PR Newswire (Canada)" - 3/30/2015 12:29:00 PM
SilverCrest Announces Surface Drilling Results at Santa Elena Mine "PR Newswire (US)" - 3/30/2015 12:29:00 PM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 3/26/2015 9:14:42 AM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 3/26/2015 7:42:15 AM
SilverCrest Announces 2014 Financial Results - Cash Flow from Operations of $13.8 million ($0.12 per share) - Adjusted Earnin... "PR Newswire (Canada)" - 3/25/2015 8:34:00 PM
SilverCrest Announces 2014 Financial Results - Cash Flow from Operations of $13.8 million ($0.12 per share) - Adjusted Earnin... "PR Newswire (US)" - 3/25/2015 8:34:00 PM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 3/5/2015 10:46:41 AM
SilverCrest to Release 2014 Fourth Quarter and Year-End Financial Results on an Amended Date, March 25, 2015 "PR Newswire (Canada)" - 3/5/2015 8:00:00 AM
SilverCrest to Release 2014 Fourth Quarter and Year-End Financial Results on an Amended Date, March 25, 2015 "PR Newswire (US)" - 3/5/2015 8:00:00 AM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 2/26/2015 10:35:17 AM
SilverCrest President to Take Leave of Absence "PR Newswire (Canada)" - 2/26/2015 8:00:00 AM
SilverCrest President to Take Leave of Absence "PR Newswire (US)" - 2/26/2015 8:00:00 AM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 2/19/2015 12:57:13 PM
SilverCrest Announces New Discovery at Ermitaño El Durazno Target "PR Newswire (Canada)" - 2/19/2015 9:47:00 AM
SilverCrest Announces New Discovery at Ermitaño El Durazno Target "PR Newswire (US)" - 2/19/2015 9:47:00 AM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 2/18/2015 6:07:20 AM
SilverCrest Appoints Vice President, Corporate Communications "PR Newswire (Canada)" - 2/16/2015 2:18:00 PM
SilverCrest Appoints Vice President, Corporate Communications "PR Newswire (US)" - 2/16/2015 2:18:00 PM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 1/15/2015 10:58:54 AM
SilverCrest Announces 2014 Production and Provides 2015 Guidance "PR Newswire (Canada)" - 1/15/2015 8:44:00 AM
SilverCrest Announces 2014 Production and Provides 2015 Guidance "PR Newswire (US)" - 1/15/2015 8:44:00 AM
excerpt/ SilverCrest Mines Inc. (TSX:SVL) (NYSE MKT: SVLC) is pleased to announce that it has filed a Technical Report prepared in compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") titled,
"Update to Santa Elena Pre-Feasibility Study, Sonora, Mexico " (the "UPFS"), for its operating Santa Elena mine.
Mining Stocks News: SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Announces Update to Santa Elena Pre-Feasibility Study; Pre-Tax Base Case NPV (5%) of $144 Million, Replaces Reserves and Renews 8 Year Mine Life
Vancouver, BC - April 1, 2015 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX:SVL) (NYSE MKT: SVLC) is pleased to announce that it has filed a Technical Report prepared in compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") titled, "Update to Santa Elena Pre-Feasibility Study, Sonora, Mexico " (the "UPFS"), for its operating Santa Elena mine.
The UPFS updates the Santa Elena Pre-Feasibility Study and Open Pit Resource Update, dated effective April 30, 2013 , as amended March 4, 2014 (the "2013 PFS"). Summaries of the updated Reserves and Resources, Life of Mine Plan ("LOMP"), operating costs, sustaining capital costs and project economics are presented in tables below.
All dollar amounts are expressed in U.S. dollars unless otherwise specified. The effective date of this Technical Report is December 31, 2014 and is available on the Company's website, http://www.silvercrestmines.com and under the Company's profile on SEDAR at www.sedar.com.
The Base Case economic analyses use a range of metal prices per ounce for gold and silver. For gold prices, the range is defined as $1,250 (2015), $1,275 (2016) and $1,300 (2017 - 2022) and for silver prices the range is defined as $18 (2015), $19 (2016), $20 (2017) and $21 (2018 - 2022).
On this basis, the following economic highlights for a continued 8 year mine life beginning January 2015 are:
•Total operating revenue of $555 million from estimated sales of 12.6 million ounces of silver and 270,700 ounces of gold.
•Total operating costs of $349 million.
•Estimated cash operating costs averaging $11.59 per silver equivalent ("AgEq") ounce (Ag:Au average ratio of 64.5:1 based on sold ounces for LOMP).
•Total sustaining capital costs of $31 million including LOMP underground drilling programs and 2015 surface exploration expenditures.
•Total pre-tax undiscounted cash flow of $163 million including estimated closure cost deductions of $6 million.
•Pre-tax Base Case pre-tax NPV (5%) of $144 million.
•Post-tax Base Case post-tax NPV (5%) of $119 million.
Metal price sensitivities were completed including spot price as $1,193 /oz Au and $16.16 /oz Ag (representing spot price in December, 2014) which showed a pre-tax NPV (DCF @ 5%) of $84.3 million.
J. Scott Drever, Chief Executive Officer, stated; "We are extremely pleased with the results of the reserve and economic update for the Santa Elena mine.
The study confirms our expectations that the transition from the open pit heap leach operation to a conventional mill and underground operation represents a very attractive project with robust economics even at current reduced metal prices.
The renewal of an 8 year mine life gives SilverCrest a strong corporate cash flow that provides a solid foundation for continued systematic and aggressive growth. We look forward to a year of continuing operational and financial improvements in 2015 with expansion of our annual metals production at Santa Elena."
MINERAL RESERVES AND RESOURCE ESTIMATES AT DECEMBER 31, 2014
Update to Mineral Reserve and Resource are shown in the table below. Only Indicated Resources were used in estimating the Mineral Reserves related to the UPFS mine plan, schedule and economic analyses.
In summary, Total updated Probable Reserves at Santa Elena are 7.45 million tonnes grading 1.23 gpt Au and 78.4 gpt Ag, containing 295,000 ounces of gold and 18.76 million ounces of silver.
This represents an overall minimal decrease of 10% in contained gold and 5% in contained silver over previous Probable Reserves stated in the 2013 PFS even after reserve depletion by mining and decreased metal prices. Updated Indicated Resources (exclusive of Probable Reserves) are estimated at 1.12 million tonnes grading 1.39 gpt Au and 89.7 gpt Ag, containing 50,000 ounces of gold and 3.22 million ounces of silver.
This represents a 57% decrease in contained gold ounces and 59% decrease in contained silver ounces over previous Indicated Resources. Updated Inferred Resources are estimated at 0.56 million tonnes grading 1.69 gpt Au and 106.5 gpt Ag, containing 31 thousand ounces of gold and 1.9 million ounces of silver.
This represents a 57% decrease in contained gold ounces and 74% decrease in contained silver ounces. The differences in UPFS Reserves and Resources from the 2013 PFS are based on:
•A minimal decrease of overall Probable Reserves even after mining depletion over the last 1¾ years and changes in metal price (cut off grade analysis) from the 2013 PFS of $1,450 per ounce of gold to $1,300 and from $28 per ounce of silver to $19.50 .
•Underground Probable Reserves have increased 8% in contained ounces of gold and 8% in contained ounces of silver subsequent to the 2013 PFS and 2014 underground mining depletion.
•Newly-defined El Cholugo underground Probable Reserve of an estimated 252,000 tonnes grading 2.58 gpt Au and 147.0 gpt Ag. This high grade zone is immediately adjacent to current underground development and has been exposed on several levels for easy access and planned mining in 2016.
This zone is open in most directions and is a 2015 priority for further resource expansion with potential for conversion to reserves.
•An 85% decrease in open pit Probable Reserves due to depletion from mining from April, 2013 and some transfer to underground reserves. Open pit was shut down in April, 2014 and reopened in January, 2015.
•An 18% increase in leach pad Probable Reserves with continuation of open pit mining in 2013 and 2014 and partial leaching (300 day leach cycle) of ore.
•Indicated and Inferred Resources decreased based on conversion to Reserves, lower base case metal prices, updated geological modelling with detailed infill drilling, and changes in geostatistical parameters (smaller search radius) based on more exploration and production data, including infill drilling data generated in 2013 and 2014.
•Reserve replacement for a renewal of an 8 year mine life, even after mining depletion from 2013 and 2014.
Silvercrest Mines Or (SVLC)
1.12 ? 0.02 (1.82%)
Volume: 119,480 @ 3:59:59 PM ET
Bid Ask Day's Range
- - 1.1 - 1.12
SVLC Detailed Quote Wiki
anyone know what old symbol was ????? i bought silver creat mines
many years ago
on spokane exchange.
last symbol i have is stvzf.pk
2,000 shares 0.17
I am in SVLC now. Let's go.
Where's the MOD at for this pos board? Bald eagles and maple leafs.
Production numbers are out. They sucked. So ask yourself, why no selloff?
Anybody know who makes catalytic converters? They'll be in high demand as they'll be cut out of vehicles, imho!
All members are welcomed here. All postings should be precious metal related. I encourage trade ideas, entry and exit trades, chart formations and anything technical analysis related. You have more credibility if your post is timely. All gapper and crapper postings will be removed. There are other boards for that. Good luck to all who participate.
World class producer in PGM group. Beaten down SP. Volume. B to B doji's on the weeklies. Cork endorsed. Board activity increasing. Chart
CLGRF is .26 now, big breakout. Think it can 10 bag, already has 2 bagged.
Never followed PAL, See it has good forward P/E and a lot of debt and negative cashflow. Do you know much about it?
BTW SVLC and sector doing nicely today
Cork says PAL is a steal at current price. U in?
What's to be said....cost of doing business!
I'm positioned for August news and think it will be very good.
And I'm no virgin at being wrong!
Claude...impressive!
See you found 'The Cork' board. Always a good read from that dude.
Hi Boo,
Saw your reply on Royale, being its mining related decided to reply on SVLC, as you are here too.
BTW I have quite a bit of SVLC, how do you think new mexican law on taxes will effect it?
On CLGRF, drop by. Up another 10% today, 9 month high. Yesterdays PR best news have ever seen for it.
Cheers
I don't think La Joya is close to the quake zone. A 'buy' op here, imho!
Kitco Quake Link
SilverCrest Mines: A Leveraged Play On The New 'Petro-Ruble' System
Apr. 17, 2014 11:55 AM ET
Jason Bond
Seekingalpha.com
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in SVLC, MUX over the next 72 hours. (More...)
Summary
* The five-year-long effort by central banks to support the U.S. dollar post-Lehman will most likely be trumped by much larger and meaningful geopolitical forces.
* We feel that the equities markets and precious metals will reach an inflection point in 2014, reversing the recent trend of higher equities prices and lower precious metals prices.
* Those traders seeking a higher alpha may be well served owning precious metals miners that are “in production,” such as SVLC.
While equities experience high volatility from a confluence of several dollar-negative events of the past few weeks - most notably due to the unprecedented financial events involving global trade since Bretton Woods - we feel it's time again to remind investors of the precious metals space and one of our favorite junior miner of gold and silver, in particular, SilverCrest Mines (SVLC).
In a previous SA article, entitled, SilverCrest Mines - Junior Mining Buy Of 2014, we estimated SVLC could earn between $0.13 and $0.17 per share for fiscal 2014. That projection is based on an average sales price of $1,400 per ounce and $24 per ounce for gold and silver, respectively.
In our article, we also estimated that the result of such earnings potential could take SVLC to a price of $3.88, a more than a double from today's $1.69. We predicated the $3.88 target price upon an average taken of multiple scenarios, which included a combination of potential spot bullion prices and a P/E ratio expansion.
Though it's impossible to predict future sentiment in the precious metals mining sector, we believe that the possibility of a rapid turnaround in sentiment toward the beleaguered junior mining sector could be in the offing sometime this year due to geopolitical events that most likely will affect the value of the US dollar.
If we are correct, rapidly rising gold and silver prices significantly above $1,500 and $25, respectively, will most likely change SVLC's 2014 earnings growth estimates, expand forward P/E ratios and lower PEG ratios substantially, justifying the possibility of a SVLC stock P/E multiple of at least 20-times and an all-time record high of more than $3.20 per share price.
In the interim, we see the possibility of a rather intense short-covering rally in the silver and gold markets above $1,400 and $22, providing the additional buyers needed for an assault on the psychologically-important $1,500 gold price and $25 silver price.
Buttressing our case for a potential all-time high for SVLC this year can be evidenced by the stock's price action during calendar year 2011.
On Apr. 10, 2012, SilverCrest reported fiscal 2011 earnings of $8.4MM, or $0.11 per share, on revenue of $41.8MM. As early as only six months prior to the report, on Oct. 4, 2011, SVLC had touched $1.00 as investors anticipated glowing Q4 earnings. Five months later, on Feb. 29, the stock had soared to $3.19, a more than 200% move within five months upon optimism of firm precious metals prices and relatively low all-in costs at the company's St. Elena project.
Given SVLC's historical performance, our earnings-per-share estimate range of $0.13 and $0.17 for fiscal 2014 could easily take SVLC to new all-time highs above $3.20. And that estimate includes the 7.5% EBITDA tax levied on SilverCrest and other mining enterprises as part of Mexico's new tax overhaul scheme.
Our telephone call to SilverCrest was promptly returned yesterday by the President and COO of SilverCrest, Eric Fier, who said that high-level staff members of the new Mexican government of President Enrique Peña Nieto assured him that the new tax on the mining industry was not a part of a political plan for a wider redistribution of wealth scheme down the road, as was the case in Venezuela during the nationalization of the country's oil supply, for example, but was instead part of an tax policy overhaul of Mexico.
Fier told us, that prior to the new tax scheme, only 16% of Mexico's population had contributed any tax to Mexico City, placing too much tax burden on too small of a portion of the nation's citizenry. The new tax scheme seeks to broaden the base of Mexico's tax structure, which includes a "trickle down" provision that would see tax revenue fund infrastructure projects at the municipality level.
After our phone conversation with Fier, we're confident that Mexico will most likely remain as one of the most mining-friendly jurisdictions of the world for the foreseeable future.
Why Do We Think SVLC May Rally Strongly in 2014?
THE NEW PETRO-RUBLE SYSTEM
Our urgency to recommend due diligence on SVLC has been prompted by the ongoing geopolitical events in Ukraine. What appeared at first glance as a swift and reasonably uneventful annexation of Crimea has escalated into a more complicated matter regarding the political future of the rest of Ukraine, as well as the dangerous implications for the U.S. dollar.
For those not familiar with the role of the dollar in U.S foreign policy may want to read one the best executive summaries on the subject at the Harvard International Review (HIR) website.
In short, HIR claims that as the U.S. dollar plays a lesser role in international trade, the value of the U.S. dollar against other currencies, commodities and precious metals diminishes. Therefore, prices of any asset quoted in U.S. dollar's rise inversely to the currency's weakness, taking gold and silver stocks even higher still (as a percentage) due to the leverage to spot bullion that producing miners offer investors.
According to the chart, above, SVLC outperformed smartly compared with the Global X Silver Miners ETF (SIL) and the more-followed mining company, Silver Wheaton (SLW), during the bullion rally of January and February. Of all the junior mining companies, SVLC is among only a handful of stocks that reach our threshold of consideration, of which include competent and proven management, jurisdiction, production levels and replacement rates. See SilverCrest Mines - Junior Mining Buy Of 2014
Also see our analysis of another well-run and producing junior, McEwen Mining, MUX: McEwen Mining: Best Performing Stock Of Any Junior Producer
CITATIONS TO OUR ANALYSIS
Among the top three most influential radio broadcasters of the world, Voice of Russia (VOR), reported on Apr. 4 that Russia and Iran are in the process of finalizing agreements to bypass the U.S. dollar as the medium of exchange to settle trade between the two countries.
"[T]he 'sanctions war' between Washington and Moscow gave an impetus to the long-awaited scheme to launch the petroruble and switch all Russian energy exports away from the US currency," the VOR stated.
"The main supporters of this plan are Sergey Glaziev, the economic aide of the Russian President and Igor Sechin, the CEO of Rosneft, the biggest Russian oil company and a close ally of Vladimir Putin," VOR added. "Both have been very vocal in their quest to replace the dollar with the Russian ruble. Now, several top Russian officials are pushing the plan forward."
The VOR went on to quote Valentina Matviyenko, the speaker of Russia's upper house of parliament (equivalent to the U.S. Senate), who inflamed the already-heated situation in the Ukraine to rhetoric not heard much even by Washington standards.
"Some 'hot headed' decision-makers have already forgotten that the global economic crisis of 2008 - which is still taking its toll on the world - started with a collapse of certain credit institutions in the US, Great Britain and other countries," she said. "This is why we believe that any hostile financial actions are a double-edged sword and even the slightest error will send the boomerang back to the aborigines."
The article added that Reuters had reported that Russia is negotiating a "goods-for-oil swaps transaction" with Iran. Under the preliminary agreement, Russia's oil energy company, Rosneft, will buy 500,000 barrels of Iranian oil per day ($18 billion per year) to sell in the global market. "Such a move will boost the chances of the 'petro-ruble' and will hurt the petro-dollar," according to VOR.
Other analysis of the dollar-negative implications due to tensions rising between Russia (along with other BRICS nations, Brazil, India, China and South Africa) and the West can be found here, here, here and here.
Former Assistant Secretary of Treasury, Paul Craig Roberts, believes that the implication of Russia's facilitation of a new petro-ruble system will offer Washington only two unpleasant choices.
"One of two things is likely: Either the US dollar will be abandoned and collapse in value, thus ending Washington's superpower status and Washington's threat to world peace, or Washington will lead its puppets into military conflict with Russia and China," Roberts told King World News. "The outcome of such a war would be far more devastating than the collapse of the US dollar."
Conclusion
The five-year-long effort by central banks to support the U.S. dollar post-Lehman will most likely be trumped by much larger and meaningful geopolitical forces that now weigh more heavily on the world's premiere reserve currency. Without the cooperation of Russia, China, India, Iran, Germany and other significantly large oil producing and consuming nations (Germany) to support the petrodollar system, gold and silver prices could eventually move to new highs as the U.S. dollar reaches new lows in the coming months and years.
We feel that the equities markets and precious metals will reach an inflection point in 2014, reversing the recent trend of higher equities prices and lower precious metals prices.
Though the precious metals mining sector, in general, will rise as the prices of gold and silver rally, SVLC has recently demonstrated a meaningful outperforming of nearly all of the more-widely-held and more-visible peers during a sector rally.
Investors who wish to diversify holding of precious metals miners can purchase any number of ETF's, but those traders seeking a higher alpha may be well served owning precious metals miners that are "in production," such SVLC. Our recommendation for due diligence on SVLC is primarily predicated upon the stock's performance during rallies in bullion prices and the underlying fundamentals of the company. See SilverCrest Mines - Junior Mining Buy Of 2014.
http://seekingalpha.com/article/2147173-silvercrest-mines-a-leveraged-play-on-the-new-petro-ruble-system?isDirectRoadblock=false&uprof=
Thanks for info, so there is no active board for SVLC. Strange they have low cost silver.
I have taken a big position in them about 20,000.
Hammertime on good volume. Picked up more shares on the gap down.
I've tried discussing SVLC on several different boards here on IH. I got booted from all of them. I also think this board existed under a different symbol and was recently updated, which leaves me to believe there is a renewed interest in this company. Watch for the number of board followers to grow, currently at 14, to gauge interest here on IH. Good luck and happy to see you are interested.
No Active board, This is one of the most untalked about miners. Yahoo, IV and Ihub. Can not find hardly any board action. Is there an active board?
Yahoo says next year 6 P/E, if that is true this will zoom.
SVLC making a strong pullback from the overbought top zone
What does the chart look like now.
Something important here around the 2 dollar zone. (2.00/2.10/2.20)
From a long term chart going back at least 3 years...this zone at 2 dollar area is now very key support /resistance mid point area.
It marks now the place where a bullish pattern should have held support. but it Failed to hold support in the recent pullback plunge.
Watch it now to become resistance in coming days and weeks.
IF price fails at the 2.00-2.10 area, and becomes a right shoulder of a head and shoulders pattern, we could see a retest of the 1.13 bottom zone. in coming months.
A bullish chart pattern needs to see SVLC hold support above 2 dollars, and now, especially critical to establish some support level at least the 1.50-1.40 area.
N. Eric Fier, President and COO stated; "2013 was another successful year and marked SilverCrest's second full year in commercial production. Management congratulates our operating team for their valuable contributions and for delivering on their commitments. Santa Elena surpassed production guidance which was revised upwards during the year and produced 2.66 million AgEq(1) ounces in 2013. Moving forward in 2014, SilverCrest will continue to focus on delivering strong operating results and optimizing our operating cash flow as we complete the Santa Elena Expansion and increase production to approximately 3.3 million to 3.6 million AgEq(1) ounces. Management will continue to focus on improving cash flows by reducing costs and increasing productivity where possible to offset the current precious metals prices. Operating cash costs are expected to range from $8.50 to $9.25 AgEq(1) ounce in 2014. Further details on market guidance will be presented in the upcoming annual financial report."
During the fourth quarter of 2013, the Santa Elena mine produced a record 228,787 silver ounces almost 50% more than the same quarter in 2012. Silver production continues to set quarterly records due to improvement in recoveries and higher grade ore loaded on the leach pad. Gold production of 9,218 ounces was 18% above the same quarter in 2012. Open pit tonnes and grades have continued to reconcile closely with the resource model and mine plan and all aspects of operations continue to function well.
Greg McCoach Says Keep the Best and Dump the Rest
TICKERS: CZN; CZICF, CXO, EXN; EXLLF, REX, SVL; SVLC, TK; TLD; TKRFF
Source: Kevin Michael Grace of
The Gold Report (10/9/13)
Section of article:
GM: SilverCrest Mines Inc. (SVL:TSX.V; SVLC:NYSE.MKT) is probably the top company I'd like to talk about. It has more than $40 million ($40M) in cash and growing. The company is making money whether gold or silver prices go up or down because it is mining higher grade rather than lower grade ounces. SilverCrest keeps finding more ounces as the Santa Elena mine grows, and it has made another discovery that is moving along quite nicely in another area of Mexico.
The market is so bad currently that SilverCrest is not performing as it should. It's holding its own, but is at a great discount to where it will be. This is a great situation to play because at current prices I see at least a four or five multiple when the market fully recovers.
TGR: SilverCrest was down to about $1.50/share in August, and then the price soared to over $2.20/share. But now it is back down to $1.73/share.
GM: And it could go lower. I would say that even the best companies will move lower. Tax-loss selling is going to come up. People need to clean out their portfolios. Everybody's situation is different. I've never experienced losses like this before, and I've been doing this for a long time. But once it's cleaned out, it will have to recover. If the world wants to have iPhones, computers and high-tech cars, it takes base metals, precious metals and rare earths to build these things.
Continued...
http://www.theaureport.com/pub/na/15653
If I Had To Pick Just 1 Silver Miner, SilverCrest Mines Is It
Oct 15 2013, 14:47
Steve Nicastro
Seeking Alpha
Disclosure: I am long SLW, SAND. (More...)
A friend of mine asked me the other day, "If you had to choose to invest in just one silver mining stock going forward, which would it be?" It didn't take me too long to respond to his question. I told him SilverCrest Mines (SVLC), with great confidence.
I believe shares of SilverCrest mines present a great value at current prices and I think the best is yet to come. This is a silver/gold miner that will survive this period of depressed precious metals prices and will come out very strong when prices do eventually recover.
Company Overview
Credit: SilverCrestMines.com
- SilverCrest Mines owns and operates the 100%-owned Santa Elena Mine in the State of Sonora, México. The mine is a 2,500 tonnes per day open pit heap leach operation which is expected to yield 625,000 ounces of silver and 33,000 ounces of gold in 2013, for a total of 2.4 million silver equivalent ounces. Santa Elena first reached commercial production on July 13, 2011.
- Santa Elena is a very high-grade gold and silver mine, one reason why the company is able to mine precious metals at a lower cost than its peers.
- The company is undergoing an aggressive expansion plan to increase production next year. While the mine only has an estimated mine life of 8 years (previously 6.5 years before recent drilling), the company has been very successful in exploration and I believe the life of the mine can be extended further.
- The company aims to bring production at Santa Elena to 3.5 million silver equivalent ounces next year. The company's long-term goal is to produce more than 10 million silver equivalent ounces a year from both Santa Elena and the La Joya project. I will discuss how the company plans to do this later on.
Share Structure and Stock Price
- Silvercrest shares trade on the TSX under SVL.V and on the AMEX under the symbol SVLC.
- The company has 108 million shares outstanding with 6.3 million options for a fully diluted share count of 115 million. With 108 million shares outstanding and a current share price of $1.58, Silvercrest has a market cap of $172 million.
- The company has no warrants outstanding, which is somewhat rare for a small cap mining company. For example, Aurcana Corporation (AUNFF.OB), one of its competitors, has over 10 million warrants outstanding. Warrants are often included in an equity financing and they are dilutive to shareholders, so I see it as a positive that Silvercrest has zero warrants issued.
- One way SilverCrest was able to get into production with minimal dilution was by a stream financing agreement with Sandstorm Gold (SAND). Sandstorm gets 20 percent of the life of mine gold production at Santa Elena at a price per ounce of $350. For the stream, Sandstorm gave SilverCrest $12 million cash and 700,000 common shares of Sandstorm Gold. The stream was acquired in May of 2009.
As a Sandstorm shareholder and a future shareholder of Silvercrest, I believe this agreement has been a great deal for both companies. Sandstorm only invests in projects and management teams that they are really confident in, so I see this as a third-party validation of the quality of both the Santa Elena mine and the management team.
Silvercrest - Outperforming its Peers
- Silvercrest shares are down 37.7 percent this year, compared to a decline of over 50 percent in the Silver Miners Index (SIL).
- You will see in this chart below that, while the damage has been quite brutal for the silver miners, Silvercrest has outperformed all of its peers. Here I've compared Silvercrest to the SIL, as well as fellow Mexican miners Great Panther Silver (GPL), Endeavor Silver (EXK) and First Majestic Silver (AG), which, besides Silver Wheaton (SLW), is considered by many to be the best silver stock out there.
Silver Wheaton, with its streaming model which produces cash costs less than $6 per silver ounce, is the only silver stock that comes close to Silvercrest.
(click to enlarge)Credit: Yahoo! Finance
- This one chart is one example of how great of a job the management team at SilverCrest is doing.
Below are three main reasons why I believe Silvercrest has outperformed its peers and why I believe they will continue to do so going forward.
#1 Profitable, Even at Current Precious Metals Prices
- For the second quarter of 2013, Silvercrest reported cash flow from operations of $5.58 million with an impressive all-in sustaining cost per ounce of $13.26. The company sold 647K of silver equivalent ounces, putting them on track to beat their 2013 full-year estimate of 2.4 million ounces.
- The company reported net earnings of $2.87 million or .03 cents per share. You can make a strong case that the company is undervalued at current prices. The current P/E for Silvercrest is just 6.99. Analysts estimates for full-year 2014 are earnings of .21 cents a share, giving the company a forward P/E ratio of just 7.5. For comparison, Endeavor Silver has a P/E of 15.84 and First Majestic Silver has a P/E of 17.02.
- Perhaps most impressive, the company reported an average cash operating cost of just $7.80 per silver equivalent ounce for the quarter and an all-in sustaining cost per ounce of $13.26, which is well below the industry average of $22-24.
(click to enlarge)Credit: SilverCrest Mines Corporate Presentation- All of these results came with the price of silver at three-year lows of $22 an ounce. The bottom line is while most silver miners are struggling to record a profit, SilverCrest is.
#2 Massive Reserve Base and Production Upside
- SilverCrest has 37.7 million silver equivalent ounces in reserves with 16.7 million in the indicated category, plus 223 million ounces in the inferred category, for a total resource base of over 276 million silver equivalent ounces.
- The chart below will show you that the growth of SilverCrests' reserves since 2006 has been quite massive. In 2006, the company had just 17.5 million in total silver equivalent ounces. By 2013, that number has grown to the current total of 276 million, with the biggest growth spurt coming in the past year.
(click to enlarge)Credit: SilverCrest Mines Corporate Presentation
- SilverCrest has a current enterprise value of $145 million (Market cap of $172 million minus cash and equivalents balance of $29.6 million).
- Based on these numbers, the market is placing a value on SilverCrests' reserves of just $1.90 per silver equivalent ounce, which is lower than the industry average of $3-5 an ounce.
*St. Elena Expansion Upside
- As on June 30, 2013, 65 percent of the budgeted 2013 capital cost has been committed, with the expansion on time and on budget. The scheduled mill start up date is January 2013. A total of $16 million remains in the Santa Elena expansion after 2013, with $66 million budgeted for 2013.
- With working capital of $41.6 million and an undrawn line of credit of $40 million available, the company has more than enough money to complete this expansion without having to issue equity or taking on debt.
- Pre-feasibility results for the Santa Elena expansion were released in April 2013. Results of the study were very positive, even using base-case prices of $1,250 gold and $19 silver. At these prices, the project carries a Net Present Value of $108.7 (Discount of 5 percent) and an internal rate of return of 49 percent, which is very high. Payback is just 1.7 years, which is outstanding.
- With gold at $1,450 and silver at $28, however, the project carries a NPV of $223 million (Discount of 5 percent) with a super-high IRR of 88 percent and a payback of just 1.1 years! If you think precious metals prices will get back to these levels, like I do, then the best is yet to come for Santa Elena.
The expansion production profile is listed below.
(click to enlarge)Credit:SilverCrest Mines Corporate Presentation
- It is very possible the company will be able to expand the mine life at Santa Elena based on recent drill results. The following drill results were reported on September 5:
SE-13-144; 9.2 metres grading 4.83 gpt Au and 171.4 gpt Ag including 0.8 metres grading 30.20 gpt Au and 638.0 gpt Ag
SE-13-152; 15.0 metres grading 4.03 gpt Au and 243.2 gpt Ag including 2.0 metres grading 17.5 gpt Au and 664.0 gpt Ag
SE-13-160; 13.3 metres grading 3.52 gpt Au and 136.2 gpt Ag including 4.1 metres grading 6.46 gpt Au and 133.6 gpt Ag
SE-13-166; 11.7 metres grading 3.97 gpt Au and 189.5 gpt Ag including 5.0 metres grading 8.10 gpt Au and 334.4 gpt Ag
SE-13-175; 8.8 metres grading 1.91 gpt Au and 70.6 gpt Ag including 2.0 metres grading 6.70 gpt Au and 226.1 gpt Ag
- These are great drill results which extended mineralization beyond the current resource, discovering three new zones:El Cholugo, El Cholugo Dos and Tortuga.
*La Joya Upside?
- Enormous upside potential remains at the La Joya project, which holds a whopping 200 million silver equivalent ounces in the inferred category. The project has excellent infrastructure, located close to highway, railways and power lines very close by.
La Joya is interesting because it contains massive inferred copper reserves of 533,200,000 lbs. The project also contains 716,200 ounces of gold and 95,900,000 ounces of silver. Because of the huge amount of gold and copper, I believe this will lead to very low cash costs once in production.
- The latest drill results have been very encouraging, containing 80 meters of 78.8 gpt Ag, .31 gpt Au and 137 gpt Ag Eq).
- A preliminary economic assessment for La Joya is underway and it should be very interesting to see how this project develops. While Santa Elena is an already profitable operation with upside, La Joya has home-run potential and can be a company maker for SilverCrest.
#3 Rock-Solid Balance Sheet for a Small Cap Company
- Perhaps the best part of the SilverCrest story is the financial condition of the company.
- SilverCrest has a solid balance sheet. The company reported cash and equivalents of nearly $30 million at the end of June, with a working capital position of $41.6 million. The company has no debt.
- I think it is very rare to see a small company with such a solid balance sheet and profitability. If silver and gold were to remain at current levels, or drop even lower, SilverCrest could still be turning a profit, which is not the case for many other silver miners out there.
Conclusion - SilverCrest is a Buy and Best of the Bunch
I believe the following points can be made about SilverCrest:
- With a P/E of about 7, they are undervalued at the current stock price, even with silver at $22 and gold at $1250.
- The company has one of the best balance sheets of any silver miner of its size.
- Huge upside potential remains at both Santa Elena, an already profitable mine, and La Joya, which could be a "company-maker."
- Even with silver at three-year lows of $22 an ounce, SilverCrest is profitable, recording .04 EPS last quarter.
- SilverCrest has outperformed its peers in 2013 and should continue to do so going forward, due to its profitability, balance sheet, production upside potential, third-party validation by Sandstorm Gold, etc.
I've been following this company since early 2013 and will continue to do so. I plan on purchasing shares sometime next month and throughout 2013/14. Follow me here on Seeking Alpha for future articles on SilverCrest and other silver miners.
Additional disclosure: I may buy shares of SVLC within the next month.
http://seekingalpha.com/article/1746562-if-i-had-to-pick-just-1-silver-miner-silvercrest-mines-is-it?source=email_portfolio&ifp=0
SilverCrest Announces Q2 Record Silver Production 194,022 Ounces Silver & 7,463 Ounces Gold
~ $SVLC ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!
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c
Auguries - March 3, 2013
Virtual Reality
Kevin Michael Grace
Gold was down (at press time) $3.60 (-0.2%) for the week to $1,575.70, and silver was down $0.15 (-0.5%) to $28.60. Gold made big gains earlier in the week, but these were wiped out Wednesday and Thursday. According to Reuters, “Bullion dropped as the dollar rose after US economic data including consumer spending, consumer confidence and factory activity all pointed to a pickup in economic growth. Some investors believe a better US outlook could prompt the Federal Reserve to halt its stimulus earlier than expected.”
One person who doesn’t believe that the Federal Reserve will be prompted to halt its stimulus earlier than expected is its Chairman, Bernancus Magnus. He told the Senate Banking Committee February 26, “The benefits of asset purchases and of policy accommodation more generally, are clear…. To this point, we do not see the potential costs of the increased risk-taking in some financial markets as outweighing the benefits of promoting a stronger economic recovery and more rapid job creation.”
Given that the “economic recovery” and “more rapid job creation” are both entirely putative, we can expect an end to quantitative easing the day after Black Tuesday II or whenever Jesus returns, whichever comes first.
Read the rest of this article about gold prices here: http://resourceswire.com/2013/03/auguries-22/
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First Majestic Completes Acquisition of Silvercrest
October 1st, 2015
http://www.firstmajestic.com/en/news/first-majestic-completes-acquisition-of-silvercrest
VANCOUVER, BC, CANADA – First Majestic Silver Corp. (“First Majestic”) and SilverCrest Mines Inc. (“SilverCrest”) are pleased to announce the completion of the plan of arrangement (the “Arrangement”) previously announced in the joint news release of First Majestic and SilverCrest dated July 27, 2015.
Under the arrangement, which took effect as of 12:01 a.m. (Vancouver time) this morning, First Majestic has acquired all of the issued and outstanding common shares of SilverCrest. Shareholders of SilverCrest will receive 0.2769 First Majestic shares and CDN$0.0001 for each share of SilverCrest held. In addition, shareholders of SilverCrest will receive 0.1667 shares in a newly formed company which will hold certain exploration assets currently held by SilverCrest and First Majestic.
Keith Neumeyer, President and CEO of First Majestic said, “With this closing, First Majestic is integrating a well-built, low-cost, profitable silver mine into its large portfolio of operating mines. The Santa Elena Silver Mine, becoming our sixth mine in Mexico, is projected to increase the Company’s total production by approximately 5 million silver equivalent ounces per year. We are very excited to have this free cash flowing mine added to our portfolio.”
“Over the coming quarters, we will be communicating our plan for Santa Elena which will include ways to further reduce operating costs,” continued Mr. Neumeyer. “Finally, I would like to take this opportunity to personally welcome the SilverCrest shareholders into the First Majestic family.”
With the Arrangement now complete, it is expected that SilverCrest’s shares will cease trading and will be delisted from the Toronto Stock Exchange (“TSX”) in approximately 2-3 business days in accordance with the rules of the TSX and will cease trading and be delisted from the New York Stock Exchange MKT before the opening on October 2, 2015.
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