During the first 2006 quarter, Apex Silver continued advancing the development of San Cristobal which at March 31 was approximately 54% complete. The Semi-Autogenous Grinding (SAG) mill and both ball mills have been placed on pedestals and associated component assembly is underway. About 70% of flotation cells have also been set in place. Tangible progress is being made on construction of the primary crusher and the associated conveyor system. Thickener foundation earthwork is now in progress. By March 31, 2006, approximately 75% of concrete had been poured. Field-fabricated tanks are being erected.
Mining is re-gaining momentum after unusually heavy rains in the first quarter of 2006. By March 31, 2006, approximately 6.5 million tonnes of material had been moved. To facilitate mining activities, two new 200-tonne trucks are scheduled for delivery in the third quarter 2006. The project remains on schedule to commence operations in the third quarter 2007.
The infrastructure development is advancing as well. Power line development is advancing as planned. Tower foundations are nearly fully completed, tower steel erections are about 72% completed and cable stringing is approximately 30% completed. Container testing was successfully completed in January.
Unternehmensvorstellung: Apex Silver Mines
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"The financing-related hedge positions leave unhedged approximately 96.5%, 87.4% and 85.3% of planned life-of-mine payable production of silver, zinc and lead, respectively."
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VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 11, 2006 --
Eaglecrest Explorations Ltd. (TSX VENTURE:EEL.V) (FWB:EAT) is
pleased to report that the Bolivian Minister of Mines and
Metallurgy, Mr. Walter Villarroel Morochi, yesterday, issued a
letter to Eaglecrest confirming that there is no plan to nationalize
the mining industry in Bolivia. -
"With silver and zinc treated as co-products for purposes of operating cost accounting, life-of-mine cash operating costs are forecast to average approximately $1.43 per ounce of payable silver and $0.41 per pound of payable zinc"
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SIl befindet sich unter den Top 10 Positionen in dem Tocqueville Gold (TGLDX ) Fond von John Hathaway!
APEX SILVER MINES (SIL) hat in diesem Fond von John Hathaway gemanagten Fond einen Anteil von 2,79%. Sil bringt diesem Fond bisher einen einen YTD Return 33,96%.
Dabei befindet sich SIL in guter Gesellschaft mit u.a. Goldcorp, Gold Fields, Newmont, Harmony Gold und IAMgold!
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...the Bolivian Minister of Mines and Metallurgy, Mr. Walter Villarroel Morochi, yesterday, issued a letter to Eaglecrest confirming that there is no plan to nationalize the mining industry in Bolivia.
...
The Minister's letter states that there is no consideration in that Plan for any nationalization, expropriation or conversion of the Bolivian mining industry into a state run industry. On the contrary, the Minister's letter stresses that the state owned agency COMIBOL, which is the holder of a large percentage of all mining concessions in Bolivia, will require the infusion of foreign capital to develop the state owned mineral resources.
The Minister concluded his letter by stating that the new policies will be finalized to guarantee normal functioning of mining operations.
aus: Eaglecrest Explorations Ltd.: Bolivian Minister of Mines and Metallurgy Provides Assurances
By: Marketwire
May. 11, 2006 01:48 PM -
Press Release Source: Apogee Minerals Ltd.
Apogee Minerals Ltd.: New Bolivian Mining Code Draft Proposes Fiscal and Tax Stability
Thursday June 1, 8:00 am EThttp://biz.yahoo.com/ccn/060601/200606010331044001.html?.v=1
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DENVER, June 12, 2006 /PRNewswire-FirstCall/ -- Apex Silver Mines Limited (Amex: SIL) today announced the appointment of Gerald John Malys as Senior Vice President and Chief Financial Officer effective immediately. Mr. Malys will provide Apex Silver with financial leadership to advance the company into one of the world's largest producers of silver, zinc and lead. Coincident with this appointment, Mr. Mark A. Lettes will be retiring. The company thanks Mr. Lettes for his contributions to Apex Silver, particularly for his role in securing financing for the development of the company's 100%-owned San Cristobal project in Bolivia and wishes him well in his future endeavors.
Mr. Malys is a seasoned executive with over 25 years of senior financial leadership experience with major resource companies including Cyprus Amax Minerals, where he was Senior Vice President and Chief Financial Officer, and Gulf Oil Company, where he served in a variety of senior financial positions. Under his financial leadership, Cyprus Amax emerged from a small copper and coal producer into one of the largest diversified international mining companies in the world. He is a Certified Public Accountant and holds a B. Sc. in Accounting from Gannon University.
"Gerry is one of the most eclectic mining executives in the business," said Jeffrey G. Clevenger, Apex Silver's President and Chief Executive Officer. "His solid credentials in financial engineering, reporting, treasury and tax management will be instrumental in establishing Apex Silver as one of the most successful emerging mining companies in the world."
Apex Silver is a mining exploration and development company. Since its inception in 1993 and with the discovery of San Cristobal, it has assumed an increasingly important profile within the silver sector. Its San Cristobal flagship project is located in the Potosi district of southwestern Bolivia. At the designed production rate of 40,000 tonnes of ore per day, San Cristobal is expected to produce about 22.3 million ounces of payable silver, 182,500 tonnes of payable zinc and 85,000 tonnes of payable lead per year in the first five years of production, making it one of the largest producers of these key metals in the world. The common shares of Apex Silver trade on the American Stock Exchange under the symbol "SIL".
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http://www.apexsilver.com/
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