The Gold Report Interview with Sean Rakhimov (10/26/12) "One of the smaller companies I like a lot is SilverCrest Mines Inc. This is a company that I've followed for a very long time and is another company that was victimized by resource nationalism. It had a major silver project in El Salvador years back, but the government wouldn't let the company develop it. So SilverCrest came to Mexico and got back to work. Since then it made a discovery, built a mine and that mine is now in production. SilverCrest is making about $3 million (M) a month at current metal prices.
. . .I believe that the expansion of the Santa Elena mine to go underground and to build a mill is not priced in. . .there's certainly room for growing the valuation of SilverCrest based on that expansion and because the La Joya project is going to be very big. The company already has about a 100 Moz silver equivalent, the equivalent coming half from gold and half from copper. So 75% of value is in precious metals, between silver and gold. I believe it should come out with a new resource calculation sometime this year, which I expect to significantly increase the overall resource. I believe SilverCrest is getting no value for La Joya." More >