SilverCrest (V.SVL) reports worker fatality in Mexico, stock down 11%

Stockhouse Editorial
0 Comments| March 24, 2014

Silvercrest Mines Inc. (TSX: T.SVL, Stock Forum) has reported a contractor fatality at its Santa Elena mine in Sonora Mexico.

The contractor died on Friday, March 21, 2014, the company said in a press release.

The contractor employee was operating a haul truck on the lower access ramp of the pit when it is believed he may have suffered a medical condition that caused him to lose control of the vehicle, the company said.

Subsequently, the vehicle breached a designated safety berm and rolled off the ramp into the lower part of the pit, it said.

Silvercrest said the pit was shut down immediately, but added that permission to re-commence pit operations has since been received from the authorities.

SilverCrest shares fell 11% to $2.03 Monday, leaving a market cap of $223 million, based on 109.9 million shares outstanding. The 52-week range is $3.05 and $1.19.

As reported by Stockhouse, released its financial results Monday for the fourth quarter and year-end 2013.

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