Wednesday, October 10, 2007 5:19:55 PM
SIL - San Cristobal Achieves First Production -
Earlier this week we announced the first production of silver bearing lead and zinc concentrates. As was announced, the plant reached mechanical completion in late June 2007 and began start-up commissioning in early July. The first rail shipment from the plant to the port has now commenced. We expect to record our first sale of silver bearing lead and zinc concentrates in the third quarter and intend to ramp up to full production rate during the fourth quarter of 2007.
Concurrently with construction and commissioning at the San Cristobal Project we have continued to mine ore and at June 30, 2007 we had stockpiled 3.5 million tonnes of sulfide ore. The primary crusher and overland conveyor are operating at design rates delivering ore to the coarse ore stockpile. The plant is operating with the semi-autogenous (SAG) mill and one of the two ball mills. The second ball mill motor has been repaired and is being commissioned. We expect continuous production from this ball mill in early September. The flotation circuit has been commissioned and we are producing both silver bearing lead and zinc concentrates. The filtration and load out system has also been commissioned.
The entire project construction and operating team has achieved twelve million man-hours without a lost time accident.
Mining Taxation Legislation Proposed in Bolivian Congress
The Bolivian government continues to consider various changes to applicable mining taxes, including possible increases in income tax rates, modification of credibility of the complementary mining tax against income tax, and elimination of the refund to exporters of a percentage of import duties and value added taxes. The company, together with Sumitomo, is engaged in ongoing discussions with government representatives regarding the various proposals and their potential effects on San Cristobal.
SIL - San Cristobal Achieves First Production -
Earlier this week we announced the first production of silver bearing lead and zinc concentrates. As was announced, the plant reached mechanical completion in late June 2007 and began start-up commissioning in early July. The first rail shipment from the plant to the port has now commenced. We expect to record our first sale of silver bearing lead and zinc concentrates in the third quarter and intend to ramp up to full production rate during the fourth quarter of 2007.
Concurrently with construction and commissioning at the San Cristobal Project we have continued to mine ore and at June 30, 2007 we had stockpiled 3.5 million tonnes of sulfide ore. The primary crusher and overland conveyor are operating at design rates delivering ore to the coarse ore stockpile. The plant is operating with the semi-autogenous (SAG) mill and one of the two ball mills. The second ball mill motor has been repaired and is being commissioned. We expect continuous production from this ball mill in early September. The flotation circuit has been commissioned and we are producing both silver bearing lead and zinc concentrates. The filtration and load out system has also been commissioned.
The entire project construction and operating team has achieved twelve million man-hours without a lost time accident.
Mining Taxation Legislation Proposed in Bolivian Congress
The Bolivian government continues to consider various changes to applicable mining taxes, including possible increases in income tax rates, modification of credibility of the complementary mining tax against income tax, and elimination of the refund to exporters of a percentage of import duties and value added taxes. The company, together with Sumitomo, is engaged in ongoing discussions with government representatives regarding the various proposals and their potential effects on San Cristobal.
http://investorshub.advfn.com/boards/board.asp?board_id=5406
Earlier this week we announced the first production of silver bearing lead and zinc concentrates. As was announced, the plant reached mechanical completion in late June 2007 and began start-up commissioning in early July. The first rail shipment from the plant to the port has now commenced. We expect to record our first sale of silver bearing lead and zinc concentrates in the third quarter and intend to ramp up to full production rate during the fourth quarter of 2007.
Concurrently with construction and commissioning at the San Cristobal Project we have continued to mine ore and at June 30, 2007 we had stockpiled 3.5 million tonnes of sulfide ore. The primary crusher and overland conveyor are operating at design rates delivering ore to the coarse ore stockpile. The plant is operating with the semi-autogenous (SAG) mill and one of the two ball mills. The second ball mill motor has been repaired and is being commissioned. We expect continuous production from this ball mill in early September. The flotation circuit has been commissioned and we are producing both silver bearing lead and zinc concentrates. The filtration and load out system has also been commissioned.
The entire project construction and operating team has achieved twelve million man-hours without a lost time accident.
Mining Taxation Legislation Proposed in Bolivian Congress
The Bolivian government continues to consider various changes to applicable mining taxes, including possible increases in income tax rates, modification of credibility of the complementary mining tax against income tax, and elimination of the refund to exporters of a percentage of import duties and value added taxes. The company, together with Sumitomo, is engaged in ongoing discussions with government representatives regarding the various proposals and their potential effects on San Cristobal.
SIL - San Cristobal Achieves First Production -
Earlier this week we announced the first production of silver bearing lead and zinc concentrates. As was announced, the plant reached mechanical completion in late June 2007 and began start-up commissioning in early July. The first rail shipment from the plant to the port has now commenced. We expect to record our first sale of silver bearing lead and zinc concentrates in the third quarter and intend to ramp up to full production rate during the fourth quarter of 2007.
Concurrently with construction and commissioning at the San Cristobal Project we have continued to mine ore and at June 30, 2007 we had stockpiled 3.5 million tonnes of sulfide ore. The primary crusher and overland conveyor are operating at design rates delivering ore to the coarse ore stockpile. The plant is operating with the semi-autogenous (SAG) mill and one of the two ball mills. The second ball mill motor has been repaired and is being commissioned. We expect continuous production from this ball mill in early September. The flotation circuit has been commissioned and we are producing both silver bearing lead and zinc concentrates. The filtration and load out system has also been commissioned.
The entire project construction and operating team has achieved twelve million man-hours without a lost time accident.
Mining Taxation Legislation Proposed in Bolivian Congress
The Bolivian government continues to consider various changes to applicable mining taxes, including possible increases in income tax rates, modification of credibility of the complementary mining tax against income tax, and elimination of the refund to exporters of a percentage of import duties and value added taxes. The company, together with Sumitomo, is engaged in ongoing discussions with government representatives regarding the various proposals and their potential effects on San Cristobal.
http://investorshub.advfn.com/boards/board.asp?board_id=5406
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