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SilverCrest Mining (SVL.V) – approval for its Environmental Impact Assessment

Source: http://www.objectivecapital.co.uk/ocuk/articles/080815-377.asp?oid=RDF
 Posted on Thursday, August 14th, 2008 | In Small & Micro Cap, Stocks to Watch
Contributed by: Gabriel Didham (http://objectivecapital.co.uk) -

Reason for comment

SilverCrest has received approval for its Environmental Impact Assessment that it submitted to the Mexican government in late April. This is the principal document in the approval process for the company’s Santa Elena gold project. It gives SilverCrest the right to develop and operate the project, subject to the conditions set forth, for a period of ten years, with a right to renew.

SilverCrest is committing to equipment and plant purchases for items requiring long lead times. This will allow the company to maintain is planned schedule, which would have it in production by mid-2009.

Objective’s view:

SilverCrest substantially upgraded its mineral resource estimate for Santa Elena earlier this year, and the approval of the company’s Environmental Impact Assessment provides added, although expected comfort that it will be able to develop a mine on schedule. Although we continue to adopt a more conservative timeline of production commencing at the end of 2009, we believe the early ordering of key components could result in SilverCrest reaching production in Q3 of 2009. We believe these latest developments are supportive of our base-case and optimistic valuation for Santa Elena and SilverCrest.

For all our previous comments on this company visit:
http://www.objectivecapital.co.uk/SVL.V.asp

Last 5 posts by Gabriel Didham, CFA
About Gabriel Didham (http://objectivecapital.co.uk)
Gabriel Didham, CFA Managing Director, Objective Capital

Gabriel is a Chartered Financial Analyst and former number one rated analyst. He has extensive experience of regional and pan-sector research both here in the UK and abroad. He was previously the cofounder of Investinet and ExchangeSquare.com, for a time one of the internet’s most trafficked global financial websites.

Objective is a leading UK provider of objective corporate research.

We offer investors two levels of insight - a regular survey of the complete small and mid-cap segment, highlighting those stocks where attention should be focused, and our detailed institutional-quality, sponsored research coverage. As always, our research doesn't offer trading recommendations or advice but an objective up-to-date assessment of the prospects, and risks, of the companies we cover.

While the companies we cover sponsor our research, it is always written on behalf of our readers. It is of the essence of our research that it be independent - that is opinions, estimates and valuations be solely those of Objective's analyst; objective - that is based upon verifiable data; and transparent - that is based upon explicit assumptions.

For more about Objective Capital and our services for companies visit our corporate site at Objective Capital

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