Silber Companies - Liste und Neues

Hallo,
gab´s ja einiges Interessantes letzte Woche.
Vor allem Sterling und der Minigewinn von US Silver.
Aber auch der Einstieg von Silver Wheaton bei Aurcana, die sich aber damit mehr auf die Basismetalle konzentrieren dürften.

Außerdem gab´s eine IPO am 30.5.

SOP.V - CA 83614T1003

http://www.sourceexploration.com/

Da findest man auch den Darrell Rader, der sich bei der Entwicklung von Energold und Impact einen guten namen gemacht hat.
War auf der Edelmetallmesse neben sean akhimov mein Lieblingsgesprächspartner
http://www.sourceexploration.com/section.asp?pageid=8231

Aber da hat sich überhaupt ein gutes Management gefunden.

Nur 12 Mille MC und da dürfte auch mit open pit was gehen.

In deutschland hat die michael Springer vorgestellt, der mit Tirrex einen super Einstand hatte.

"Nun ist es also soweit, ich stelle Ihnen das Unternehmen Source Exploration Corp.
(TSX-V: SOP) vor, ein Rohstoffexplorer, der sich auf den Erwerb und der Weiterentwicklung
von Silberprojekten in Mexiko fokussiert.
Auf dieses Unternehmen aufmerksam geworden bin ich durch seine 75% Beteiligung an der
San Acacio Mine, die früher bereits produziert hat und sich in der historischen Minen Region
von Zacatecas in Mexiko befindet.
Die San Acacio Silberliegenschaft umschließt 398 Hektar und liegt im südöstlichen Teil des
Veta Grande Adersystems der Zacatecas Minenregion. Die Zacatecas Minenregion wird
durchquert von 4 großen Adernsystemen, von denen die Veta Grande die Bedeutendste ist
und die Liegenschaft von Source Exploration Corp. befindet sich also genau im südöstlichen
Teil dieser ergiebigen Ader.
Erwähnenswert ist sicherlich, dass Explorationsarbeiten, die 1990 durch Silver Standart Resources
in dieser Region durchgeführt wurden, zu der Berechnung der Ressourcen von ca.
2.4 Millionen Tonnen 182,5 g/t Silber führten. Gold und andere Metalle sind ebenfalls über
eine Tiefe von 120 Metern ausfindig gemacht worden.
01.Juni 2008
01/02 © 2006 Kapitalspiegel
Eilmeldung Neuvorstellung!
Source Exploration Corp.
Symbol SOP
Börse TSX Kanada
Kurspotential 150%
Anlagestrategie mittel- langfristig
Source Exploration Corp. wird ein 10.000 Meter Bohrprogramm durchführen, mit dem Ziel
die historischen Daten über San Acacio zu aktualisieren und zu erweitern, so dass der
NI42-101 Report erstellt werden kann. Source Exploration Corp. wird also direkt starten
und wir müssen nicht lange auf Ergebnisse und die nötige Informationsflut warten.
Das starke Explorationsteam, angeführt von Richard J.Tschauder, der bereits 15 Jahre Erfahrung
in der Exploration in Mexiko mitbringt und das hochkarätige Managementteam mit
CEO und Präsident Robert S.Tyson, der auch über 18 Jahre Erfahrung in der Entwicklung
und Finanzierung von Unternehmen mitbringt, haben meine Analysen abgerundet und mich
zu dem Entschluss kommen lassen, Ihnen dieses Highlight vorzustellen."

Zu SOP.V ist vielleicht noch Folgendes interessant:
Through our 99% owned Mexican subsidiary Roca Verde Exploración de México S.A. de C.V., Source Exploration has an earn-in agreement with Sterling Mining Co. to purchase an initial 75% interest, and up to 90% interest, of the San Acacio property.

Mehr hier: http://www.sourceexploration.com/section.asp?pageid=8360

http://seekingalpha.com/articl…source=yahoo#comment_form

Hecla Mining: Best Valued Silver Producer
by: Marc Courtenay posted on: June 03, 2008 | about stocks: HL / RTP

It is very hard to find a silver producer that is over 100 years old, has a balance sheet that includes 0 debt and $385 million of total cash, and is selling for around 14 times next year's conservative projected earnings.

Established in 1891 in northern Idaho's Silver Valley, Hecla Mining Company's (HL) rich history of mining has distinguished it as a respected precious metals producer. Hecla is the oldest U.S.-based precious metals mining company and the lowest-cost primary silver producer in North America. Now headquartered in Coeur d'Alene, Idaho, with a sister office in Vancouver, B.C., this international, publicly traded company is 117 years old.

Hecla recently announced its plan to acquire 100% of the fifth largest silver mine in the world – the Greens Creek mine in Alaska. Upon closing, the transaction will nearly double Hecla's annual silver production to approximately 11million ounces, while further decreasing its already low cash costs per ounce of production.

In 2007, Hecla was the lowest-cost primary silver producer in North America, producing 5.6 million ounces of silver at an average total cash cost of negative $2.81 per ounce. Hecla also produced 107,708 ounces of gold. The company has exploration properties and operating mines in five world-class silver and gold mining districts in the U.S., Venezuela and Mexico. Hecla's proven operating expertise, recent acquisitions, low-cost growth profile and excellent exploration potential emphasizes Hecla's position as a the low-cost, low-risk silver investment.

Hecla mines, processes and explores for silver and gold in Idaho, Colorado, Mexico and Venezuela. Hecla currently produces silver from two silver mines, Greens Creek and Lucky Friday, as well as mining gold at the La Camorra Unit in Venezuela. In 2007, the Greens Creek mine in Alaska contributed 2.6 million ounces of silver to Hecla's account, and the Lucky Friday mine in northern Idaho produced 3.0 million ounces. The La Camorra Unit in Venezuela produced 87,490 ounces of gold in 2007.

Hecla has long been well known in the United States as a quality producer of silver and gold. The name "Hecla" is commonly associated with both precious metals by investors. Hecla's common stock has been traded on the New York Stock Exchange for over 40 years under the symbol "HL."

So this is a company with a trailing-twelve-month profit margin growth of 28% and operating margins of 28%, and its year-over-year quarterly earnings growth was around 90%.

On Feb. 13, 2008 HL CEO Phil Baker Jr. told a conference that his company is trying hard to complete the acquisition of Greens Creek so they can own 100% of this bonanza.

"It took 20 years," said Baker, but "once Rio Tinto (NYSE:RTP) did the Alcan transaction we went into high gear to be able to pick up [Greens Creek]. Baker added, "We know the operation intimately and believe the operational risks are low."

"The cash cost per ounce of silver produced at Greens Creek, including byproduct credits, is among the lowest in North America."

Based on recent prices for metals, Hecla should recoup the $750 million purchase price within 5 to 6 years, and could potentially do so sooner if prices continue to improve. And according to CEO Baker, Greens Creek will generate large volumes of free cash. The estimates are $150 million to $200 million annually after taxes.

So the possibility for HL to pay some dividends and/or make some more accretive acquisitions is tremendous with this kind of scenario. Great revenues and cash flow enable Hecla to expand other operations, as well.

In addition to consolidating ownership at Greens Creek, Hecla is upgrading operations at its properties in Idaho's Silver Valley. And I'm told Hecla is adding a former Colorado mine to its portfolio. They recently annouced a deal to earn up to a 70% j.venture interest in San Juan Silver Mining Venture in the Creede mining district in Colorado.

Through this they will be gaining access to a 48 million ounce silver resource, based on initial assessments. There is probably even more silver resource out there. The land package includes the old Bulldog mine of the former Homestake Mining Co.

So is there much downside to HL? My best estimate would be that if gold and silver prices drop 10% (which is entirely possible) over the summer months HL could dip down near $8 a share (which is not likely but also is possible).

If that happens, I, who already own a nice position, will be backing up the truck to complete my purchases to make Hecla one of the largest single positions in my portfolio.

Don't believe me though, do your own due diligence. Start at their user-friendly web site which I'll post in a moment, and notice they do have an Environment Policy.

That web address is http://www.hecla-mining.com/index.html. I think you might also want to look at their "Key Statistics" on the Yahoo Finance site to gain a quick overview of their financial condition and balance sheet.

By the way back on April 16th they announced they completed the acquisition of of Greens Creek from Rio Tinto. I'll conclude with quotes from that announcement.

As a result of the transaction, Hecla subsidiaries now hold 100% of the Greens Creek joint venture, which is believed to be the fifth largest silver mine in the world in terms of annual production. Hecla has held a 29.73% interest in Greens Creek for the past two decades. On an annualized basis, by 2009 the integration of the rest of the Greens Creek mine into Hecla is expected to:

* nearly double Hecla's silver production to about 11 million ounces annually
* increase silver reserves by more than 150%
* increase gold reserves by 140%
* significantly increase Hecla's cash flow from operations
* decrease Hecla's already-low average cash costs per ounce of silver

Hecla's President and Chief Executive Officer Phillips S. Baker, Jr., said, "We think the Greens Creek mine and its 12-square-mile land package is an exceptional asset, with great low-cost, long-lived production, as well as tremendous upside exploration potential.

This asset transforms our company and provides us a solid base for additional growth well into the future." The acquisition is accretive to Hecla on important major operating and financial metrics, including production, cash costs per ounce, cash flow and silver, gold, zinc and lead reserves. As a result, Hecla has increased its production guidance for 2008 to approximately 9 million ounces of silver. Hecla's cash costs remain among the lowest of the North American primary silver producing companies, and in 2007 the average total cash cost was negative $2.81 per ounce of silver.

The $750 million purchase price consisted of $700 million in cash and $50 million in Hecla common stock. Hecla funded the cash portion of the payment with approximately $340 million from its existing cash and the remainder was funded through a $380 million debt facility provided by Scotia Capital.

The debt facility includes a $140 million three-year amortizing term facility and a $240 million bridge facility (of which Hecla drew $220 million at closing), which matures in six months. Baker said, "Our Greens Creek and Lucky Friday silver mines generate a great deal of cash flow at current metals prices, which is expected to enable us to pay off the debt in less than three years.

We have organized this financing to include a bridge facility that allowed us to eliminate a bank requirement to hedge a portion of our future zinc and lead production, and therefore avoid the earnings volatility associated with mark-to-market accounting. Over the course of the next several months, we will be evaluating various opportunities to retire the bridge loan."

Baker concluded, "As a participant in the Greens Creek joint venture for 20 years, Hecla has first-hand knowledge of its great value. Frankly, we have been trying to acquire Rio Tinto's interest for many years. I could not be more pleased with this transaction and am excited about what it means for our shareholders and for our company's future."

silberbug,
das passt schon so, wie du es sagst. Da gießt du nichts in den Wein
Ich hab sie auch nicht, find sie aber interessant.
11 Mille MC für 14 Mille silver oz sind nicht teuer.
Dazu 3,2 Mille cash

Den Report könnten sie sehr schnell hinbekommen, weil schon viel Vorarbeit durch Silver standard und Sterling Mining geleistet wurde.
Orko und Silvermex wollen gar nicht in Produktion gehen, nur als Beispiel. Es genügt, eine gewisse Anzahl von oz zu präsentieren.
Hier ist noch der Riesenvorteil, dass open pit möglich ist.

Hier kann man Genaueres nachlesen, z.B. die Zahlungen, die schon an Sterling geleistet wurden.

http://www.sourceexploration.com/section.asp?pageid=8233

Bandera hat auf der Homepage http://www.banderagold.com/ ein update veröffentlicht.

BGL-TSXV June 5, 2008 UPDATE ON RECENT ACTIVITIES direkt auf der Startseite!
Der lawsuit dürft sich noch ziehen.

Grüße
tschonko

Gell Lucky,
zaubern sollt man können...
Im übrigen wird´s die SOP.V bald in D geben.
Das läuft alles nach Tirex Muster, die sitzen auf einem riesigen Feld in Albanien.
Bei Tirex laufen die Fäden auch zu Impact Silver über den Geologen Gorzynski.

Sehr schöner Artikel über "Australian takeover targets"

http://globalspeculator.com.au…ralianTakeoverTargets.pdf

Grüße
Tschonko

Silvercorp verdient 0,41 per share.
Die sind profitabel....
http://biz.yahoo.com/iw/080609/0404907.html

Minefinders geben an, was sie von der Dolores erwarten.
Bezweifle, dass sie die cash costs auf unter 300 senken können......

Wollen im 3. Qu. 08 positive cash flow "sein"

http://biz.yahoo.com/iw/080609/0404914.html

Minesite Artikel zu....

June 02, 2008
SilverCrest Mines Less Than A Year Away From Production At Santa Elena

by Christian Gradley

This has been a May to remember for Scott Drever and his management team. GoldSource Mines, a company presided over by Mr. Drever, shot up from C$0.20 in late April to more than C$6.50 last week. And, SilverCrest Mines, where Mr. Drever also presides, is poised to go in the same direction. While excited about GoldSource, management is thrilled to be within a year of going into production with SilverCrest. “For a junior,” Mr. Drever says, “SilverCrest is looking really good!”
Leading SilverCrest’s charge towards production is its flagship Santa Elena property. Located 150 kilometres northeast of Hermosillo, in Senora State, Mexico, Santa Elena was acquired by the company in 2005. Since then, SilverCrest has drilled more than eighty holes on the property to upgrade and expand the resource. As of late last year the company had developed the property into a NI 43-101 compliant indicated and inferred resource of more than 55 million ounces of silver and silver equivalents, grading approximately 74 g/t silver and 1.5 g/t gold.

With its drill programme at Santa Elena winding down, the company has now turned its full attention towards production. The all important feasibility study is presently in its first draft. And, while the final numbers appear to be slightly up – as is no surprise in today’s market – Mr. Drever said that they are still well within the company’s expectations. The final report is to be released within the next two weeks. In the meantime the company plans to finalize negotiations on an EPCM (engineering, procurement, construction, management) contract. With all major permit applications presently pending government approval, the company is confident that construction is on track to begin in September. Scheduled to be under construction for six to nine months, Santa Elena should be in full production by mid-2009.

To get Santa Elena into production, SilverCrest is presently estimating a cost of C$18-20 million. With over C$11 million in the bank and US$3 million secured through a line of credit, the company is perfectly positioned to move forward with the project. Once operational, Mr. Drever states that Santa Elena will be developed in three phases. First, SilverCrest will target the main 800 metre long by 150 metre high by 25 metre wide high-grade silver and gold mineralized strike. This deposit is amenable to a low cost open pit heap leach operation, running at 2,500 tonnes per day.

Although Mr. Drever is the first to admit that this operation is rather modest, the attractiveness of Santa Elena is not in its overall size, but instead in its high grades. Towards the end of phase one’s eight to ten year mine life, the company plans to add a conventional mill. Phase two will therefore see SilverCrest reprocess the heaps left over from phase one – the company strongly feels that based on internal calculations, there is “significant value left in the heaps, which will add a number of years of life to the mine.” Phase two will also buy time for the company to decide whether or not to proceed with phase three, an underground operation. What is truly exciting for Mr. Drever is that all three phases have been tested down to US$600/oz for gold and US$10/oz silver and still look “really good.” At present silver and gold prices, the project looks really, really good.

Also looking good are SilverCrest’s other projects, notably Santa Elena’s neighbour to the east, Cruz de Mayo. Acquired in 2004, a November 2007 NI 43-101 estimate revealed an indicated and inferred resource of nearly 15 million ounces of silver, grading approximately 66 g/t silver. Akin to Santa Elena, Cruz de Mayo is also amenable to a low cost open pit heap leach operation. Exploration work, recently halted due to the company’s intense focus on Santa Elena, will continue in the coming weeks. With an RC drill soon to be on site, SilverCrest is determined to get Cruz de Mayo up to 30-50 million silver ounces. The company also has another 14.5 million silver ounces at its El Salvadoran project, El Zapote. Unfortunately, mining in El Salvador has been on hiatus as the government revises its mining and environmental laws. The company is patiently waiting for approval to proceed, but is not holding its breath.

With the company’s flagship, Santa Elena project, just about to the crest the production hill, SilverCrest is excited. Understandably so. The company is flush with cash and is stealthily moving forward with a robust project that has a long mine life. And, once in production, it will have the cash flow to pursue other growth opportunities. Things are rolling for SilverCrest!

"manfred123" weiter in hochform..........:D

http://www.wallstreet-online.d…htfertigt#neuster_beitrag

yess silberbug,
den müsst man homöopathisch hochschütteln und als Kopfwehmittel in der Apotheke verkaufen...
Unweigerlich Kassenschlager...

Was gibt´s sonst noch??

Scorpio hat die Mine eröffnet mit Tamtam...
http://www.scorpiomining.com/s…auguration-at-the-Nuestra...

Bin neugierig, wo Genco heut schließt? Wieder weiter Spread.......

Hommelberg:
Yes, I've said to believe the juniors have bottomed out based on the CDNX/GOLD ratio indeed but I've also said not to expect a rocket launch as from here on. The big picture reveals a giant up-ward potential for the juniors within 14 months from now. In other words, I expect the junior sector to be significant higher valued by end of 2009. Furthermore I noted that the next up-leg for the juniors will occur on the back of a new up-leg in gold. It's simple, a new up-leg in gold will evolve once the correction that started in March 2008 will be over. Yes, I've said that gold has most likely bottomed out at $850 and I stick with that but still another down-trend has to be breached to the up-side before a new up-trend could be established, see chart below:

Könnt also noch ein "breiter" Weg werden.....
http://www.gold-eagle.com/edit…_08/hommelberg052808.html

Grüße
Tschonko

Mit 1,8 Mille oz erreichen sie schön langsam Betriebstemperatur......
Schauen wirklich nicht schlecht aus im Gegensatz zu Sterling. Aber da dürft auch das meiste schon ausgestanden sein.....

U.S. Silver Reports May Silver Production Up 24% Over 1st Quarter 2008, Provides Operational Update for the Galena Mining Complex
Tuesday June 10, 8:48 am ET
TORONTO, ONTARIO--(MARKET WIRE)--Jun 10, 2008 -- U.S. Silver Corporation (CDNX:USA.V - News) ("U.S. Silver" or the "Company") is pleased to announce that silver production for the month of May was 145,000 ounces which is 24% higher than average production in the 1st quarter 2008 and 46 % higher than the average monthly production in 2007. This is an annualized rate of approximately 1.8 million ounces. The Company is also pleased to provide an update of operations for the Galena Mining Complex located in North Idaho.
Recent highlights include:
Production Rates
The mine averaged 640 tons per day in May, an increase of 90% over the 2007 average of 338 tons per day and a 15% increase compared to Q108 numbers. The last 10 days of May averaged more than 720 tons per day of mill feed to the two concentrators. May's production of 145,000 ounces is the highest production level since US Silver acquired the Galena Mining Complex. The Company expects to increase production levels steadily and achieve a rate of over 250,000 ounces of silver per month by the end of 2008. Bruce Reid, Chief Executive Officer commented "that these production numbers confirm that the turnaround at this operation is well underway."
Exploration Drilling
- Drilling of silver-copper ore continues in the newly discovered 114 Vein system on the 2400 level with recent intercepts of 4.4 feet of true width assaying 141.4 ounces silver per ton (opt Ag) and 1.92% copper, 4.1 feet assaying 134.2 opt Ag and 2.14% copper, and 4.4 feet assaying 114.8 opt Ag and 1.28% copper.
- Drilling of the silver-lead ore in the same vein system (114 vein) has discovered true widths of 3.7 feet assaying 22.6 opt Ag and 25.3% lead, 6.3 feet assaying 16.6 opt Ag and 13.6% lead, and 1.9 feet assaying 36.1 opt Ag and 43.9% lead.
- An extension of the 4 Vein has been drilled on the 2400 level with a true vein thickness of 29 feet assaying 5.6 opt Ag and 5.5% lead.
- Discovered a new vein system on the 4000 level with assays as high as 45.3 opt Ag and 0.68% copper over a true thickness of 5.0 feet.
- Continued successful drilling for an extension of the 3000 level silver-lead mineralized zone to the 4000 level with assays of 14.1 opt Ag and 17.8% lead over a true thickness of 5.0 feet.
- Surface drilling is expected to begin this summer in an area between the Galena and Coeur mines on a known high grade vein system. Additional surface targets include a newly discovered surface outcrop assaying 4 opt Ag immediately above the Galena mine surface plant as well as possible up dip extensions of the Silver Vein. The "Silver Vein" was the most prolific mineralized silver-copper Tetrahedrite vein in the Galena Mine with over 100 million ounces of silver produced since it's discovery in 1947.
2400 Level New Discovery
The Company continues with its exploration program on the 2400 level of the Galena mine. The second phase of the development program includes additional crosscuts into the ore zone as well as westerly lateral development to provide drilling access for the continuing expansion of this newly discovered mineralization.
Initial exploration drifting on the 114 vein recently began on two of the silver-copper bearing veins. Exploration will continue for several months as at least two silver-copper veins and three silver-lead veins systems have been identified. The estimated strike length of the vein system based on drilling is at least 900 feet with exploration continuing in the westerly, up dip, and down dip directions.
A new drill jumbo was purchased and should be commissioned in early June. An additional 2.5 yard loader is also being mobilized to the 2400 level and should be available for operation by mid June. Short term production from 2400 is projected to exceed 150 tons per day during the exploration period.
Recent diamond drilling on the 4 Vein below the 2400 level indicates a wide vein with good silver and lead values. Drilling continues to define this zone with assays still pending on several completed holes. The No. 4 Vein is only a few hundred feet from the Galena Shaft and would be easily accessible should mining commence on this new discovery.
All of the 2400 level exploration activity is in areas outside the established ore reserves. These new discoveries have potential to expand the ore reserves and resources at the Galena mine.
4600 Level Ramp System
Development and mining continue in the 4600 level ramp system. This large scale mechanized mining area will have three entry ramps into the silver-copper ore zone providing a total of 14 ore headings available for mining. This work area should provide about one-third of the feed to the Galena mill by the 3rd quarter. Three additional high grade veins have been discovered in the development process and will provide additional opportunities for efficient production of high grade ores. Drilling has also indicated several additional veins in the footwall of the main vein system that could become a significant contributor to this highly mechanized ramp system. Production rates from the 4600 ramp are expected to exceed 200 tons per day by the 3rd quarter.
4900 Level Ramp System
The 4900 level ramp intersected the 306 Vein recently after numerous equipment and infrastructure delays. A 60.4 opt Ag (ounces per ton silver) ore reserve block with 1.49% copper at an average width of 6.4 feet was accessed as well as a secondary target, the 293 Vein, with a resource averaging 12.3 opt Ag and 0.24% copper at an average width of 6.4 feet. Once developed, testing of a modified longhole mining method will be utilized on the 293 Vein and should provide information and valuable experience for longhole mining on the Caladay silver-lead Vein system as well as on the Silver Vein system.
3000 Level Silver-Lead Zone
Development and mining continue on the numerous silver-lead veins on the 3000 level. Full scale mining has been delayed due to the number of unexpected veins that have been encountered. The new high grade veins are being explored with the total extent of mineralization being larger than originally thought. Once the exploration has been completed, production volumes of about 250 tpd are projected from the 3000 level by the end of the year.
5200 Level Development of the 175 Vein
Development of another recent discovery on the 5200 level continues as planned. The drift will access a large resource on the 175 Vein averaging 9.0 opt Ag (ounces per ton silver) and 8.6% lead over an average width of 9.9 feet. Additionally, an ore reserve on the 185 Vein with a grade of 12.9 opt Ag and 19.6% lead over an average width of 6.8 feet, will be accessed. Although development activities will take an additional six months, initial exploration drifting on the vein should begin in August.
Galena Shaft Repair
The Galena Shaft repair will be completed to the 2800 level shaft station in June and should be completed to the 3200 level as scheduled before the end of the year. As anticipated, one of the more difficult repair sections of the shaft above the 2800 level has already been completed without interruption. Once the entire 800 foot section is completed, the Galena Shaft repair will provide improved hoisting capability, ventilation, and services into the Galena Mine.

Nochmals was zur profitablen silvercorp....(siehe auch gestern)

http://www.mineweb.com/mineweb…age32?oid=54418&sn=Detail

Record profits for Canadian silver miner with ops in China
Silvercorp Metals officials said Monday that the Vancouver-based miner is building a solid base in China’s Ying Mining Camp to significantly increase resources and resource production. Author: Dorothy Kosich
Posted: Tuesday , 10 Jun 2008
RENO, NV -
Silvercorp Metals Corporate Secretary Loren Waldmen told analysts and investors Monday that the company is considering a secondary listing on the NYSE after reporting record earnings for the fiscal year ended March 30, 2008.
The Vancouver-based company reported 3,960,189 ounces of silver, 2,152 ounces of gold, 49,623,448 pounds of lead, and 15,911,881 pounds of zinc sold during the past fiscal year. Silvercorp has grown from a single producing mine at the Ying Mining Camp of Henan Province to several mining projects in three silver-polymetallic mining camps in three Chinese provinces.
Silvercorp plans to spend $26 million to increase its mining and milling capacity in fiscal 2009 including:
· $12 million to build a 2,000t/d capacity mill plus tailings dam at the Ying Mining Camp. The new mill is expected to operational by November 2008. Silvercorp is developing four silver-lead-zinc mines at the camp.
· $10 million for developing mining capacity and infrastructure at the TLP and LM Mines, also in the Ying Mining Camp.
· $4 million for further upgrading and mechanization of the Ying and HPG mines at the camp.
The company also plans a $15.5 million drilling and exploration tunneling program at the camp to upgrade resources from inferred to indicated and higher, and to drill and tunnel new targets. Silvercorp is applying for a mining permit for the newly acquired Gaocheng (CG) and Shimentou (SMT) properties in Guangdong Province, and plans a $1.5 million drilling campaign at the properties. Silvercorp also plans an $8.5 million exploration program at its Na Bao project in the Qinghai province in the hope of making a new discovery.
FINANCIALS
For the fiscal year ended March 31, 2008, Silvercorp reported a net income of US$59.9 million or 41-cents per share, up 172% from $22 million or 15-cents per share for the previous fiscal year ended March 31, 2007.
For the fourth quarter ended March 31, 2008, net income was reported at $10.9 million (7-cents/sh), compared to $6.9 million (5-cents/sh) for fiscal year 2007.
During a conference call to discuss financial results Monday, Waldmen said Silvercorp intends to buy back 3 million shares over the next year.

FIRST MAJESTICS mit update zu La Encantada
die wird richtig schön ausgebaut, war ja bisher schon ein schmuckstück....

http://biz.yahoo.com/iw/080610/0405444.html

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 10, 2008 -- First Majestic Silver Corp. (Toronto:FR.TO - News)(Other OTC:FRMSF.PK - News)(Frankfurt:FMV.F - News)(WKN: A0LHKJ) is pleased to announce that ground breaking and construction of a new 3,500 tpd cyanidation circuit at the La Encantada Silver Mine, located in Coahuila Mexico will commence next week. The final permit from the Mexican authorities was received last week allowing for this expansion to begin immediately.
Construction of the new cyanidation circuit is expected to be completed by February 2009. The total budget for this major plant expansion is US$21.6 million and has an undiscounted Internal Rate of Return (IRR) of 80% representing a payback period of 14 months based on the assumption of US$15.00 per oz silver.
Historically, the La Encantada mill has had a capacity of 800 tpd and has been processing oxide ores from the mine through a flotation circuit to produce a lead/silver concentrate. The construction of the new 3,500 tpd cyanidation circuit will allow the Company to increase its recoveries of silver and to produce Dore bars as a finished product instead of concentrates. Due to the historically low recoveries yielded from the past 30 years using flotation at La Encantada, a large Resource has been created in the form of tailings that was defined in the Company's NI 43-101 report dated March 19, 2008. That 43-101 report defines 4,916,085 tonnes of tailings with an average grade of 150 g/t. Commencing in the first quarter of 2009, silver production will come from combining ore from the mine with tailings from surface. This expansion, will allow production to be expanded to 3,500,000 ounces of silver in 2009 and 4,000,000 ounces of silver in 2010. Production will be in the form of Silver Dore rather than concentrates which will significantly reduce smelting, refining & transportation costs of the finished product and thereby increasing the profitability of the La Encantada operation.
The metallurgical testing for the cyanidation process was executed at the SGS Metallurgical Laboratory in Durango, Mexico which included the testing of the different ores present and the tailings to be processed. This metallurgical testing confirmed historical tests completed by Penoles in 1985.
The mixture of ore and tailings as defined by the Company's expansion plan will consist of 700 tpd of raw ore from the mine with an average grade of 350 g/t with a recovery of 78%, plus 2,800 tpd of old flotation tailings with an average grade of 150 g/t and a recovery of 50%, resulting in combined recoveries of 60%.
This expansion project illustrates First Majestic's commitment to maintaining its aggressive plans of continuing the growth at each of its operations, of which management believes will bring substantial benefits to the Company's shareholders. La Encantada will be doubling its silver output in the coming year and will produce 100% silver in the form of Dore bars, reducing smelting treatment and freight charges and increasing the Company's leverage to the value of this important metal.
The Company's ongoing aggressive development and exploration program at La Encantada is continuing with the purpose of increasing both the oxide and sulphide Resources within the mine. In addition to this mill expansion, a total of 8,160 metres of underground development is scheduled for 2008. Presently, three diamond drill rigs are working underground and are scheduled to complete 7,600 meters of drilling in 2008. Additionally, to compliment this development and exploration program, a Geophysics team is presently on site at La Encantada completing a 46 kilometre regional geophysics program.
The exploration potential within La Encantada's 2900 hectare property boundary is very high as all the operations of the mine and the present Reserve/Resource are located in a small portion of the property covering only approximately 100 hectares. The Company's current development and exploration program is focusing on the definition of known areas and testing of new targets and is expected to result in significantly improved Reserves/Resources. The Company anticipates the next updated NI 43-101 Report on the La Encantada Silver Mine will be completed by late 2008.