Replies to post #51 on Silvercrest Mines Inc (SVL)

[JohnCM]

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.

[123tom]

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.