Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Of course. Silvermex is very undervalued at the moment... I know this baby will explode soon. It was/is just a shakeout, but the strong hands will be rewarded.
Oh, that's a great post man. That big C wave of this primary uptrend bull market is going to be spectacular. I'm combining all THREE boards into one over the next week. I'm busy as hell the next several days, but next week t'will be done. I LOVE Bob Chapman and I'm a hardcore gold and silver bug. Hope you stick around here. Great post.
I just got moderator status on Genco, I'm going for moderator here as well and they need to be converted to one board. Updates badly needed here. Whats going on here?
I can't beleive how out of date this board is. For such a solid mining play it's very surprising to me.
The merger between Genco and Silvermex was a beautiful thing IMO
I love this stock, great management,great resorces, and good potential.
Well, MMG also had quite a decent dip these days, but I don't know that company that much... But I am pretty sure that Silvermex will run when the price of silver goes up again.
How does silvermex compare with MMG. MMG has 200 million ounces of silver, few billion in zinc and is trading at about 100million cap.
Here i post the last PR (source:marketwire)
Silvermex's First Quarter of Production at La Guitarra Ahead of Budget
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/21/11 -- Silvermex Resources Inc. (TSX: SLX) ("Silvermex") reports that the Company's first quarter silver and gold production surpassed budgeted estimates.
The company's wholly owned La Guitarra mine, in the Temascaltepec mining district of Mexico, is currently undergoing major redevelopments and yet continues to show consistent month-over-month production growth and grade improvements. Compared to the fourth quarter of 2010, silver production in the first quarter of 2011 increased 51.1% to 143,128 of silver equivalent ounces (actual). Production cost information will be provided in conjunction with Q1 2011 financial results expected to be released in mid-June.
Highlights of First Quarter 2011
-- The mine produced 1,440 tonnes of concentrate containing some 1,182
ounces of gold and 92,883 ounces of silver or 143,128 silver equivalent
ounces (actual), representing an increase of 51.1% over Q4 2010, and 40%
over budgeted estimates.
-- Production grades for the quarter averaged 190.9 g Ag/t and 2.5 g Au/t
or 342.8 g/t silver equivalent, 34% over budgeted estimates.
-- Recoveries to concentrate for the quarter averaged 91% for silver and
86% for gold, exceeding the budgeted estimate of 85% recovery.
-- The mine processed 16,359 tonnes of ore averaging 181 tonnes per day
("tpd") production.
-- Underground drilling has begun with the goal of delineating known
structures in an effort to increase mine reserves and establish new
production areas.
Production Table for Q1 2011
---------------------------------------------------------------------------
Tonnes Tonnes Grade Reco- Reco- Silver Silver
Pro- per Grade Grade Ag very very Eq Ozs Eq
Month duced Day Ag g/t Au g/t Eq g/t Ag % Au % (Actual) Ozs(i)
---------------------------------------------------------------------------
Jan 5,611 181.01 140.23 1.50 230.51 90% 84% 33,661 36,433
---------------------------------------------------------------------------
Feb 5,081 181.48 240.53 2.61 397.1 95% 91% 54,534 60,513
---------------------------------------------------------------------------
March 5,667 182.80 196.58 3.48 405.30 91% 90% 53,932 66,847
---------------------------------------------------------------------------
Total/
Avg 16,359 180.77 190.90 2.50 342.80 92% 89% 143,128 163,792
---------------------------------------------------------------------------
(i) (Silver equivalents for 2011 using budgeted prices of US$1200/oz Au,
US$20/oz Ag. Actual silver equivalents are based on realized prices
for the reporting period)
Actual silver equivalent ounces produced for the quarter were 143,128 based upon realized prices. Based upon budgeted prices, silver equivalent ounces produced were 163,792, or 140% of our budgeted production of 117,342.
Michael Callahan, Silvermex's President, stated; "We are very pleased with the progress we are making at La Guitarra. In only a few months, we have made significant improvements in safety, equipment availability, grade control and mining practices and these improvements are reflected in our production and cost numbers. In our first quarter of operating the mine, we increased the tons per day by 24% of what the mine had averaged over the past five years of operation. We are well on track to reach or exceed our objectives for the year."
Due to the extensive redevelopment programs currently underway, the production rate in Q1 and Q2 for this year is expected to remain relatively constant. The current programs include development to access known ore blocks, and the delineation and development of new ore bodies to reach current operational capacity. Future development programs will be based on the results of current resource/reserve modeling and drill programs. These programs will be designed to identify and delineate new mining areas and potentially expand production beyond the current capacity. The district offers incredible potential for growth. With numerous past producing mines on the property as well as newly identified structures, the district has the potential to continue delivering sustainable growth for the foreseeable future.
Silvermex is continuing its extensive review of all past exploration programs completed on the 40,000 ha property. The geological staff has increased from one geologist to six and the total staff from 10 to 25. This team is currently compiling and reviewing an immense amount of data derived from over 80,000 m of surface and underground drilling, 10,000 channel samples, test pits and numerous geotechnical and geophysical programs completed by previous operators. This data will be used to develop a comprehensive new resource model, which will assist the company to gain a better understanding of the existing reserves and resources and identify near-term production targets.
Company Profile
Silvermex Resources Inc. is a publicly traded mining company focused in Mexico and led by a highly qualified team of professionals from some of the most notable companies in the silver mining sector. The Company's portfolio of projects ranges from advanced stage exploration to production. Its core asset is the producing La Guitarra silver-gold mine located in the Temascaltepec Mining District of Mexico. Silvermex is currently working to increase production at the mine to full capacity and is conducting extensive exploration to further develop the district. Silvermex is well financed to further develop resources organically from its multiple projects as well as from the acquisition of additional assets that will drive production growth.
ON BEHALF OF THE BOARD
Duane Nelson, CEO & Director
For more information please visit the Company's website at www.silvermexresources.com.
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. Management has assumed that these will be our major projects going forward. Risks include that we are unable to satisfy environmental or other regulators, that we determine that our resources are not commercially viable, or that we have difficulties due to unavailability of labour or equipment.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Silvermex Resources Inc.
Fiona Grant
Manager, Investor Relations
604-682-4004
www.silvermexresources.com
The miners are heavily shorted by hedge funds at the moment, like bob Chapman said. I want to show you some miner performaces of the 79/80 rally. (this one will be bigger!)
*Lion Mines – 1975 price: $0.07 / 1980 price: $380.....542,757%
*Azure Resources - 1975 price: $.05 / 1980 price: $109....217,900%
*Wharf Resources - 1975 price: $.40 / 1980 price: $560....139,000%
* Mineral Resources - 1975 price: $.60 / 1980 price: $415....69,067%
* Steep Rock - 1975 price: $.93 / 1980 price: $440....47,212%
* Bankeno - 1975 price: $1.25 / 1980 price: $430....34,300%
Silvermex will run!
It would be nice to combine two boards in one
Silvermex and Genco Announce November 16, 2010 Closing Date
http://www.marketwire.com/press-release/Silvermex-and-Genco-Announce-November-16-2010-Closing-Date-TSX-VENTURE-SMR-1353710.htm
UPDATE 1-Silvermex says to buy Genco in stock deal
http://www.reuters.com/article/idAFSGE68J0M820100920?rpc=44
Silvermex Resources Ltd. and Genco Resources Ltd. Enter into Business Combination Agreement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2010) - Silvermex Resources Ltd. (TSX VENTURE:SMR - News; "Silvermex") and Genco Resources Ltd. (TSX:GGC - News; "Genco") are pleased to announce that they have entered into a definitive agreement (the "Agreement") to combine their respective businesses in an all-share transaction. The transaction will create a well managed, growth-oriented silver and gold producer focused on aggressively increasing its production profile.
The combined company will possess a fully operational mine and a substantial silver reserve and resource base. The transaction will provide shareholders with an experienced, production-focused, management team with a successful record of enhancing shareholder value. The combined company will be well capitalized with $6.2 million in cash.
Transaction Highlights - http://finance.yahoo.com/news/Silvermex-Resources-Ltd-and-ccn-4231783247.html?x=0&.v=1
haulted is buyout coming
Silvermex Resources Ltd (SMR.V)
Currently: $0.455
Speculative Rating: 1 (highest level of confidence)
SMR is a well funded exploration and development company on the TSX Venture exchange focused on advancing the recently consolidated Rosario/San Marcial Mining Camp in south eastern Sinaloa, Mexico.
This mining concession consists of 2 past producing mines and numerous known high-grade deposits. The project has significant resources and historic reserves with extensive production related infrastructure in place.
SMR's Chairman Arthur Brown retired as Chairman of Hecla Mining Company (HL) in 2006. I announced HL as one of my top 10 picks for the next 4 years on November 3rd, 2008, at $2.39 and it went on to hit a high last year of $7.47 for a gain of 213%. During Mr. Brown's 39 year tenure at HL, he held several senior operating positions becoming President of HL in 1986 and was named Chairman and Chief Executive Officer in 1987.
HL is the oldest U.S.-based precious metals mining company in North America and the largest producer of silver in the U.S. HL currently has a market cap of $1.57 billion. SMR's President Michael H. Callahan was also from HL where he served as Vice President. Plus, SMR's VP of Exploration Robert J. Fraser was the Exploration Manager for HL in Canada and Venezuela.
SMR only has 84 million shares outstanding giving it a market cap at $0.455 of $38.2 million. SMR ended the last quarter with $5.5 million in cash, after raising $6.9 million earlier in the year in a private placement at $0.45. SMR is debt free with $9.8 million in shareholder equity.
SMR has a well defined near-surface silver resource base with extensive infrastructure already in place. In my opinion, SMR is more highly leveraged to rising silver prices than any other exploration company and has the most upside potential!
SMR's Penasco Quemado project has a measured resource of 2.6 million oz of silver, an indicated resource of 7.5 million oz of silver, and an inferred resource of 1.4 million oz of silver. SMR's Frazada project has a measured resource of 2.5 million oz of silver, an indicated resource of 2.2 million oz of silver, and an inferred resource of 3.9 million oz of silver. SMR's Rosario project has an indicated resource of 18 million oz of silver, an inferred resource of 4.4 million oz of silver, historic proven reserves of 282k oz of silver, historic probable reserves of 961k oz of silver, and historic inferred reserves of 3.9 million oz of silver.
All together, SMR's Penasco Quemado has a resource base of 11.4 million oz of silver, SMR's Frazada has a resource base of 8.6 million oz of silver, and SMR's Rosario has a resource base of 27.6 million oz of silver. SMR's total silver resource base has now reached 47.5 million oz of silver!
With a market cap of $38.2 million and a resource base of 47.5 million oz of silver, SMR is being valued at only $0.80 per estimated oz of silver in the ground! This is an incredibly low valuation considering that silver reached a high on Friday of $21 per ounce! Based on a silver price of $21 per ounce, SMR has an estimated $997.5 million worth of silver in the ground, that's nearly $1 billion worth of silver estimated to be in the ground! This doesn't even include the large lead and zinc resource base that SMR also has in the ground!
I am aware of no other silver exploration company in the world today trading for only $0.80 per estimated oz of silver in the ground. Once you factor in that SMR has a strong balance sheet (plenty of cash and no debt), the best possible management team (from Hecla) and their projects are in the most mining friendly region possible (Mexico), I consider SMR to be a once in a lifetime breath taking opportunity that we may never come across again!
From the Morgan Report - June 26,
We are providing an update from Silvermex, a company I personally own and we have recommended to paid subscribers of . Their recent acquisition of the Rosario Mine combined with the new management team from Hecla and Silver Standard has strengthened the company considerably.
The company’s flagship Rosario/San Marcial project has significant resources and historic reserves which are high-grade and development plans are in work. The project has 3 past producing mines within 5 miles of each other and has infrastructure in place, including; a tailings dam, water (30 year water use permit), 60 km - 33 KV power line, a 20 year surface rights agreement, offices, shops, 120 man camp and multiple buildings. This infrastructure could save Silvermex $30 million in development costs and substantially reduce development time...
Past drilling results are above average in both grade and width, but as we are required to state, past results do not indicate future performance, current results are outlined in this update and it is to your advantage to read and understand this.
One of the keys to buying a speculative mining company is the people, you read this from me, Doug Casey and most in this industry. The new Board of Directors and Management team at Silvermex is impressive to say the least . It consists of former and current Hecla Mining and Silver Standard executives. These include; Arthur Brown, the past CEO and Chairman of Hecla Mining as Silvermex's Executive Chairman and Michael Callahan, past Director and President of Hecla Mining's Venezuelan operations and VP of Business Development as Silvermex's President, Joe Ovsenek, Executive VP of Silver Standard Resources, Director, Ken McNaughton, VP Exploration of Silver Standard, Director and Rob Fraser, past VP Exploration of Hecla as Silvermex's VP of Exploration.
The company is trading near a level recommended to our paid subscribers. Silvermex and many others will be discussed in the July edition of the Morgan Report. We are providing the "matrix" of Silver companies comprised of explorers, junior and senior producers. We do NOT cover every company claiming to be a silver company or silver explorer and may have left out some that you either own or have heard about, regardless this is an issue that goes well beyond similar reports sold by others for far more than the cost of a full year's subscription to the Morgan Report. Basically, you need to read the discussion to fully understand our logic and thinking.
Silvermex is listed on the Toronto Venture Exchange (TSXV:SMR) and has a relatively low market cap of $27 Million. Silvermex is well-funded with over $5 Million in the treasury and intends to become a mid-tier silver producer within the next 24 months. Christopher Ecclesone of Hallgarten and Company has just initiated coverage on Silvermex with a 12 month target price of $0.9.
David Morgan
Founder Silver-Investor.com and Home of The Morgan Report
________________________________________
Holding, but could see .35 .30 .....
December 04, 2009
Silvermex completes acquisition of Rosario Project
http://www.silvermexresources.com/i/pdf/2009-12-04_NR.pdf
December 18, 2009
Silvermex Reports Underground Sampling Assays. Highlights Include: 2m of 41.0 g/t Gold, 123.0 g/t Silver and 6.4% Base Metals
http://www.silvermexresources.com/i/pdf/2009-12-18_NR.pdf
October 13, 2009
Silvermex Signs Final Agreement for Past Silver/Gold Producer Rosario:
Silvermex Resources Ltd. (TSXV- SMR) (the "Company" or "Silvermex") is pleased to announce it has signed a definitive agreement with Aurcana Corporation (TSXV- AUN) ("Aurcana") to acquire a 100% interest in the silver - gold - lead - zinc Rosario Property ("Rosario Property") located in south eastern Sinaloa State, Mexico.
The Rosario Property consists of 18 concessions totaling approximately 8,515 hectares and is located approximately 94 kilometres southeast of Mazatlan. The property is strategically located within 2 Kilometres of Silvermex's 1,250 hectare San Marcial Silver property and was acquired to consolidate Silvermex's land position in the San Marcial area in order to accelerate Silvermex's objective of becoming a near-term silver producer. The proximity to Silvermex's San Marcial project combined with the silver resource and existing infrastructure at Rosario will significantly reduce both the time and capital expenditures required for production.
Under the terms of the acquisition, the Silvermex advanced to Aurcana $435,000 on August 25th 2009 to settle amounts due to Grupo Mexico by Aurcana. The Company will pay $207,000 CDN and issue 1 million shares on or before November 15th, 2009. Upon reaching successful production or 24 months from closing, the Company will issue an additional 1 million shares and pay 5 installments of CDN$500,000 every 6 months for a total of CDN$2,500,000. The Company will also assume the last payment due by Aurcana to Grupo Mexico in the amount of $731,000 USD due in February, 2010.
The acquisition includes all facilities and infrastructure, including surface rights, underground workings, tailings dam, water, power, offices, shops, 60 man camp, warehouses and assay lab. The previous owner invested approximately $8.5 million in exploration, upgrades and renovations to the mine and mill site including partial renovations to the mine and mill site including; upgrading of electrical substations and wiring, camp accommodations upgrades, mine dewatering and detailed engineering of an 800 tonne per day (t/d) mill. The acquisition also includes an extensive list of mill equipment and vehicles, two 9 by 12 ball mills, numerous feeders and tanks, electrical equipment, trucks, pumps, compressors, etc.
The land directly surrounding the Rosario mill site (330 ha) is owned in fee simple and key exploration and mining areas are under a surface rights agreement which remains in good standing for 20 years. Silvermex is working on a preliminary in-house study which will determine mine and production plans based on combining the two projects.
Historic production on the Rosario property by Grupo Mexico, the prior operator, averaged 600 t/d from 1986 to 2000, during which a total of 2.5 million tonnes of ore were produced which averaged 190.5 grams per tonne (g/t) silver, 0.92 g/t gold, 2.02% zinc and 2.38% lead.
The San Juan prospect is a high priority target on the project. This vein structure has 26,205 tonnes of historic reserves with grades of 339.9 grams per tonne silver, 2.1% zinc, 1.4% lead and 0.4 grams per tonne gold and 230,511 tonnes of historic inferred resources with grades of 327.8 grams per tonne silver, 3.90% zinc, 1.70% lead and 0.2 grams per tonne gold. A decline has been driven into the San Juan zone and testing of over a vertical distance of 40 metres was done, with the zone still open to depth. Silvermex will make San Juan a focus of a drill program due to the high grade nature of the ore, the proximity to San Marcial and the significant potential of the area. The zone remains open at depth and developed workings consist of several hundred metres of drifts and cross cuts on two levels.
Exploration work planned for the San Juan area will include exploring the known zone at to depth. Diamond drill testing will also evaluate the San Francisco vein which is interpreted to be an extension of the San Juan vein. Surface sampling by Grupo Mexico traced the vein along strike for 600 metres, and has reported results including 3.02 g/t gold and 314 g/t silver over 1.6 metres, and 0.34 g/t gold and 574 g/t silver over 1.7 metres.
The Plomosas Mine has been partially refurbished by the previous operator in reparation for an 800 tpd operation. The Plomosas Mine currently has 323,278 tonnes of historic reserves with grades of 92.0 grams per tonne silver, 3.7% zinc, 2.5% lead and 1.0 gram per tonne gold and 286,613 tonnes of historic inferred resources with grades of 161.3 grams per tonne silver, 3.21% zinc, 2.23% lead and 1.2 grams per tonne gold.
The reader should be cautioned the historic reserves and resources do not conform to National Instrument 43-101 for reporting purposes; as such the Company is not treating these historic estimates as current reserves or resources. These estimates should not be relied upon until they have been verified by further due diligence and by the Company's "Qualified Person".
Bruce Bragagnolo, Silvermex CEO stated; "This strategic acquisition of Rosario will help to accelerate Silvermex's objective of becoming a near-term silver producer. The proximity to our San Marcial high-grade project combined with the existing high-grade resources and infrastructure in place at Rosario will significantly reduce both time and capital expenditures required for resource growth and production. The acquisition complements our short term goals and our pre-production profile.
Followers
|
8
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
23
|
Created
|
11/22/09
|
Type
|
Free
|
Moderators |
http://www.silvermexresources.com/s/Home.asp
http://www.silvermexresources.com/i/pdf/2009-06_SMR_Factsheet.pdf
http://www.silvermexresources.com/i/pdf/2010-01-18_SMRP.pdf
Share Structure - August 15, 2009
Fully Diluted 61,099,251
Joseph J. Ovsenek, P.Eng.,L.L.B Position: Director Mr. Ovsenek is the Senior Vice President of Silver Standard Resources Inc. Mr. Ovsenek holds a Bachelor of Law degree from the University of Toronto. He is a registered professional engineer, and holds a Bachelor of Applied Science degree from the University of British Columbia. | ||
| ||
Kenneth C. McNaughton, M.A.Sc.,P.Eng Position: Director Mr. McNaughton is the Vice President, Exploration for Silver Standard Resources Inc since 1991. Mr. McNaughton holds a Bachelor of Applied Science degree and a Master of Applied Science degree in geological engineering from the University of Windsor | ||
| ||
Arturo Bonillas, B. Sc., (Eng). Position: Director Arturo Bonillas has been employed by the Company since April, 2005. He is one of the founders and the President of Timmins Gold Corp. He has more than 23 years of experience in the mining and exploration industry in Mexico. |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |