Twitter Facebook LinkedIn YouTube

SilverCrest Mines (TSXV: SVL) Corporate Update from PI Financial

Video Platform Video Management Video Solutions Video Player

PI Financial has issued a corporate update on SilverCrest Mines, which trades of the TSX Venture Exchange, under the symbol SVL. Following the earnings report for the fourth quarter and full year, analyst Philip Ker reiterated his buy recommendation. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is located 150 kilometres northeast of Hermosillo, in the State of Sonora, Mexico.

Additional Information:

Company: SilverCrest Mines
Website: http://www.silvercrestmines.com
Stock Symbol: TSXV: SVL
Date Published: Mar 21, 2013
Transcript: Available

Video Transcript:

I’m Megan Edwards for InvestmentPitch.com

PI Financial has issued a corporate update on SilverCrest Mines, which trades of the TSX Venture Exchange, under the symbol SVL.

Following the earnings report for the fourth quarter and full year, analyst Philip Ker reiterated his buy recommendation, maintaining his $4.00 target price, a 60% premium to the $2.50 price the day the report was issued.

The company reported cash flow from operations of $40.1 million or $0.44 per share, and net earnings of $30.5 million or $0.33 per share for the year ended December 31, 2012.

SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is located 150 kilometres northeast of Hermosillo, in the State of Sonora, Mexico.

The mine is a high-grade, epithermal gold and silver deposit, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent, with a 55 to 1 silver/gold ratio.

SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine.

Analyst Philip Ker stated, “We are confident current and future production levels will continue its growth trajectory as the Company begins mining from underground and achieving higher recovery levels from its new processing facility, which is expected to be commissioned later this year in Q4.”

“This plant should allow SilverCrest to increase production levels by 50% for 2014.”

Company President, J. Scott Drever, stated, “We look forward to another strong financial year in 2013, with an expected increase in silver production to 625,000 ounces, consistent gold production at 33,000 ounces and cash costs remaining steady at or below $8.50 per silver equivalent ounce.”

SilverCrest currently trades at $2.58, and with 106 million shares outstanding, the company is capitalized at $273 million.

For more information please visit the company’s website www.silvercrestmines.com, or contact Fred Cooper at 1-866-691-1730 or email info@silvercrestmines.com.

For more information about PI Financial or to obtain a copy of their research report, contact your nearest PI Financial office. Their branches are listed on their website at www.pifinancialcorp.com.

I’m Megan Edwards for InvestmentPitch.com
For more video news, and to view our disclaimer, be sure to visit our website www.investmentpitch.com.
This video is for information purposes only and it is not a recommendation to buy or sell any securities.