New Jr silver mine with tons of potential starts trading in the TSX this Monday under SCZ. They raised 20 million to start the first mine and to continue exploring the other two minesThe company will start at a market cap Of aprox 70 million USD. They have three mines the first will start production at the end of this years. The estimate is to be producing 8-10 million oz of silver in three years. You make the numbers!!!! So this can be a first magestic in it’s first trading days.I expect a10-20x return if silver stays in the 30′s. The good thing about this investments if you don’t need silver to go vertical, you just need it to keep good levels. I personally know the administration and it’s first class people. This kind of risk reward plays dot come very often.Regards
This topic was modified 1 year, 1 month ago by chafro.
SANTACRUZ SILVER MINING LTD. $20,000,000 FINANCING COMPLETEDSantacruz Silver Mining Ltd. has completed its $20-million financing.The company is now in the position to move forward with its plans of bringing the Rosario property into production, and executing its exploration programs at both the Rosario and Gavilanes properties with a view to increase the company’s resources. As well, Santacruz will continue its review of the San Felipe project. The company anticipates starting commercial production at the Rosario property during the first quarter of 2013.
TSX Venture Exchange Trading Symbol: SCZ Vancouver, B.C. – Santacruz Silver Mining Ltd. (“Santacruz” or the “Company”) Santacruz is pleased to report significant progress at its Rosario project, located in the historical mining district of Charcas, San Luis Potosi, Mexico. In August 2011 the Company signed an option agreement with Compañía Minera Nukay, S.A. de C.V. a subsidiary of Goldcorp Inc. to purchase a mill with a capability of 500 tonnes per day. The mill, which is currently being disassembled will be moved to the property within the third quarter of 2012. The mill is scheduled to be commissioned within the first quarter of 2013. Utility permits for water and power are expected to be ready during the third quarter of 2012. In addition, the company is continuing with its exploration program at the Rosario project which is budgeted to include 4,310 metre diamond drilling for 2012, focusing on the Rosario I and II veins with an objective to upgrade and increase current silver resources. A 6,000 metre diamond drilling campaign will commence during the second quarter of 2012 at the Company’s Gavilanes high grade silver project. The defined drill targets outlined in the Company’s current NI 43-101 technical report are located on the stockwork area of El Hundido, as well as on the Guadalupe and Descubridora veins. The Company has retained Gustavson Associates, LLC (“Gustavson”) to prepare a NI 43-101 technical report on the San Felipe property which is expected to be concluded by the third quarter of 2012. The Company is also pleased to announce that it has entered into an employment agreement dated May 7, 2012 (the “Agreement”) with Neil MacRae, pursuant to which Mr. MacRae will provide investor relations services to the Company. Mr. MacRae will administer Santacruz’s investor relations matters, including creating promotional and information materials for the Company, developing public relations programs for media awareness, and liaising between Santacruz and the brokerage community and investors.
TSX Venture Exchange Trading Symbol: SCZ Vancouver, B.C. – Santacruz Silver Mining Ltd. (“Santacruz” or the “Company”) Santacruz is pleased to provide an update on its Rosario project, located in the mining district of Charcas, San Luis Potosi, Mexico. The environmental permits for both the underground development and mine construction have been received for the Rosario project. This is a positive development for the project as it is the Company’s intention to commission the mill within the first quarter of 2013. Detailed engineering and construction work continues on the project and is on schedule for the Company’s production target timeline. “With these environmental permits in place, we now have the ability to rapidly advance the Rosario project into production,” said Arturo Prestamo Elizondo, Santacruz’s President and CEO. “ The focus of the company is to bring the Rosario project into production within the first quarter of 2013, and to start generating cash flow for Santacruz. The granting of these permits provides us with the ability to meet our targets.” About Santacruz Silver Mining Ltd. Santacruz Silver is focused on three advanced stage silver deposits in Mexico with a corporate objective to reach production by first quarter 2013. The Company aims to become a mid-tier silver producer (targeting to produce +5million Ag equivalent ounces) within the next 3 to 4 years. For 2013, Santacruz is focused on increasing resources to more than 50million ounces of silver equivalent on each of its three properties.
Vancouver, B.C. – Santacruz Silver Mining Ltd. (“Santacruz” or the “Company“) is pleased to take this opportunity to announce the appointment of Mr. Francisco Ramos as the Chief Operating Officer of the Company and also update its shareholders and interested parties on the corporate activities that have taken place over the past couple months on the Rosario, Gavilanes and the San Felipe silver projects and the Company’s plans for the remainder of 2012.
Mr. Ramos is a Mining and Metallurgical Engineer with more than 30 years of experience in the mining industry, holding a masters degree in Mining Engineering from the University of Guanajuato, Mexico. He was a co-founder of Great Panther Silver Limited (GPS), finding and developing its first two mines. Mr. Ramos has been instrumental in executing and overseeing the mining operations for GPS which are all located in México and he’s played a major role in building the company into its current status as a mid tier silver producer. Mr. Rámos has worked with a variety of senior mining companies such as Peñoles, IMMSA (Grupo Mexico) and Minera Autlan. He has also consulted for a number of junior to mid-size companies from Canada, Mexico and the United States. In addition, Mr. Ramos was responsible for the design, supervision and construction of four milling operations, all of which were completed on time and on, or under budget.
Arturo Prestamo, President & CEO of Santacruz, stated “Mr. Ramos has put together a highly qualified operational team to assist the Company in achieving its objectives going forward. His operational experience will be a key asset to Santacruz as we grow into a mid-tier silver producer with our advanced stage, near-term production assets in Mexico”.
The operational activities of the company are moving along as planned with the following advances on each project:
Rosario Mine (San Luis Potosí, Charcas Mining District)
During the month of April the company completed the purchase of a 500 tpd flotation mill from Goldcorp´s Mexico Subsidiary, Nukay. The purchase price was US$800,000. Disassembling of the mill has commenced and transportation of the mill components to the Rosario mine site is in progress. The company expects to receive at the site all crushing and milling equipment during the next seven weeks, as well as all of the flotation cells. Engineering activities are moving forward in preparation for receiving and installating the mill equipment, including all of the necessary ground leveling and excavation for the crushing and milling foundations. In addition, during the month of May, all environmental permits required for the operation of the mill, mine and tailings dam were received. Current timelines are on track to reach commercial production by first quarter 2013. Anticipated production levels at 500 tpd are projected to yield 2,200,000 ounces of silver equivalent by the year 2014.
A four month exploration program concentrated on expanding four trenches that were dug to explore for the continuation of both Rosario I and II veins to the NW. Each trench measured over 30 meters in length and 5 meters in width and were located over 800 meters away from the current known resources. In the four trenches, continuation for Rosario I and II veins was confirmed. With the idea of confirming both veins at depth, a 4,310 meter diamond drill program has now commenced with one rig targeting the extensions of both Rosario I and II veins to the NW where the trenching took place. In preparation for the mine development, a 250 meter length area of overburdenat Rosario I and II veins was removed, exposing both veins. The plan is to have a 3 month open-pit scenario before accessing the underground development. This will allow for the accumulation of stockpiled ore in a cost effective manner, while mill construction is underway.
Gavilanes Mine (Durango, San Dimas Mining District)
Preliminary surface mapping and exploration activities took place during April and May at Gavilanes in preparation of an aggressive 6,000 meter diamond drill campaign scheduled to commence in June. The defined drill targets which are outlined in the Company’s current NI 43-101 report (viewable at http://www.santacruzsilver.com) are located within the stock work area of El Hundido structure as well as to Guadalupe and Descubridora veins. These areas are the primary focus of this program. The Companys’s goal is to increase resources on the Gavilanes project and update the NI 43-101 report by the first quarter of 2013.
San Felipe Mine (Hermosillo Sonora, San Felipe Mining District)
Since February 2012, geologists have been mapping and collecting rock samples from underground at the Las Lamas, Artemisa, Curnocopia, Santa Rosa, La Ventana and San Felipe mines as well as within other previously devoloped underground areas within the San Felipe property. Ten kilometers of grid lines have been established where a systematic soil geochemical sampling program was completed, including the Transversales area. In addition, a detailed geophysics survey to follow-up anomalous indications from the geochemical sampling and mapping has took place in January with encouraging results. The Company has retained Gustavson Associates, LLC (“Gustavson”) to prepare a NI 43-101 Techinal Report including an updated resource estimate. This Report is expected to be published during the third quarter of 2012.
Arturo Prestamo, President & CEO of Santacruz stated; “I am pleased to see the Company´s progress on the construction of the Rosario mill coupled with our exploration activities. Also achieving our listing on the TSX Venture Exchange was an exciting milestone for the Company. I would like to encourage shareholders and interested parties to contact us at any time for more detailed information. I would also like to take this opportunity to welcome Santacruz’s Chief Operating Officer Francisco Ramos. Having an operational manager of his caliber on our team will ensure that the operations run efficiently. This is an exciting time for us as we build our team and start to deliver on our corporate objectives to become a mid-tier silver producer.”
I want to give you major props on this call thus far, incredible return in 6 months especially considering how devastating the market has been towards the juniors.
With regards to SCZ I want to clarify Rosarios production numbers. You mentioned that they will reach 500 tpd production within the 2013 and this is supported by the fact sheet on their website, however if you look at their presentation it states that 500 tpd production is to be achieved in the fourth year. The presentation states 150 300 450 & 500 tpd in years 1 2 3 & 4 respectively. So if you can address this, I would greatly appreciate it.
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