Silvercrest Aims to Become Senior Producer in Five Years

Mining Weekly reported that precious metals company, Silvercrest Mines, has its eyes set firmly on attaining senior producer status in five years, as it plans to double production in its Santa Elena mine by 2014, and make a development decision on its La Joya project, which reportedly holds 75.1 million pounds of tungsten trioxide, by 2015.

As quoted in the market news:

The plan is to develop the property, which is estimated to cost about $150-million, using a staged approach. This would be in keeping with the company’s previous experience in developing the Santa Elena mine, by starting out with a smaller operation to generate free cash flow, before upgrading to a larger production profile at a later stage.

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