Coeur Provides Update on San Bartolome Project - Cerro Rico, Potosi -
Coeur d'Alene Mines Corporation - (NYSE:CDE)(TSX:CDM) announced an updated summary of progress on - the San Bartolomé silver mine, which is targeted - for completion near the end of 2007 -
Construction highlights are summarized below, as of March 2007:
* 24 contractors on site and total employment of approximately 450 workers, most of whom are Bolivian
* More than 213,000 man-hours without a lost-time accident
* Completed installation of concrete batch plant
* Have begun pouring concrete in leach tank area
* 90% complete with grading and topsoil removal for tailings facility; work under way on tailings dam foundation
* 90% complete with site preparation for processing plant area Contractor mobilizing to install field-erected tanks
In recent months, the company has continued to meet with officials of the Bolivian government to discuss issues related to the project. In those meetings, the company has received repeated expressions of support for - the San Bartolomé mine - CDE Mission -
Bolivian Supreme Decree Reaffirms San Cristobal Mining Concession Rights
Bolivian President Evo Morales issued a Supreme Decree on May 1, 2007 declaring a Mining Fiscal Reserve over the entire national territory to include all mineral resources, granting the Bolivian Mining Corporation (COMIBOL) the authority and right to administer and exploit the Fiscal Reserve.
The Supreme Decree provides that mining concessions granted prior to enacting the Supreme Decree, which includes the San Cristobal mining concessions, will be respected and will remain in effect.
Apex Exploration Activities Increase
Drill testing of eight projects in Argentina, Peru and Mexico continues. At the El Quevar property in Argentina, 22 drill holes have provided encouraging values and a camp is being established to facilitate infill drilling on 50-meter centers. There are several areas of interest with the current focus being on the one kilometer long Yacthe Zone which remains open along strike and at depth. A second drill is being brought in to test other areas at El Quevar including large silver, lead and zinc bearing breccia zones and associated veins. We have earned our 65% interest in the property from our partner, Minera Hochschild. Drills are operating at three properties in Mexico with assays pending.
Apex Silver is a mining exploration and development company. Its 65%-owned San Cristobal project is the world’s largest development in silver and zinc.
The Ordinary shares of Apex Silver trade on the American Stock Exchange under the symbol "SIL".
This press release contains forward-looking statements regarding the company, within the meaning of Section 27A -- -- can be found in the company’s Form 10-K filed with the SEC for the year ended December 31, 2006.
Apex Silver Mines Corporation Jerry Danni, 303-228-0336 Senior Vice President Corporate Affairs
At March 31, 2007, the SIL liability associated with the derivative positions was fiat$709.9 million - doesn't matter in comparison? -
to SIL - Mission - and the very positive reassurance statements - from the Bolivian Government -
Bolivian President Evo Morales issued a Supreme Decree - on May 1, 2007 declaring a Mining Fiscal Reserve - over the entire national territory - to include all mineral resources - granting the Bolivian Mining Corporation (COMIBOL) - the authority and right to administer and exploit - the Fiscal Reserve.
The Supreme Decree provides that mining concessions granted prior to enacting the Supreme Decree - which expressly declares that all mining concessions granted in the past, prior to this legal disposition, are going to be honored and respected.
Decree 29117 has four articles:
Article 1: Declares a National Mining Reserve for all national territory, granting to the Corporacion Minera de Bolivia (COMIBOL) all power for its exploitation and management. It expressly declares that all mining concessions granted in the past, prior to this legal disposition, are going to be honored and respected.
Article 2: Prohibits the granting of any other new mining concessions whatsoever and establishes that any request for concessions, even those that have started their filings shall not be granted.
Article 3: Establishes that the Servicio Geologico Tecnico Minero ("Sergeotecmin"), which is a technical mining organization of the government, will not be able to enter any new mining agreements without prior authorization from the government.
Following the completion of studies and approval by Sergeotecmin, prospective areas can be explored by third parties through signed agreements with COMIBOL.
Article 4: Establishes that areas of the National Mining Reserve might be partial or totally removed from that Reserve after Sergeotecmin has finished studies to be carried out on behalf of the Bolivian government.
I think, The Supreme Decree - has been the most positive fundamental basic - for SIL shares increased appr. $6/sh since May 1st -
is adding appr. fiat$350 million in market value to the Apex Silver - SIL shares values -
and Silver investors will find - Franklin Mining FMNJ - Cerro Rico mines etc. FMNJ - Mission - Imo. Tia. God Bless http://tinyurl.com/y54k7r