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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: brit2 who wrote (209100)	1/9/2012 11:11:08 AM
From: Veteran98	Respond to of 313017

SVL .... Canaccord Morning Coffee..... SilverCrest Mines* (SVL : TSX-V : $2.08), Net Change: 0.03, % Change: 1.46%, Volume: 153,392 Robble! Robble! In a note to clients, Canaccord Genuity Mining Analyst Nicholas Campbell urged investors to accumulate SilverCrest shares after the company reported an initial resource from its La Joya silver/gold/copper resource in Durango, Mexico. In the update, the company reported a headline resource calculated at a 15 g/t cutoff, which gave 57.9 million tonnes grading 28 g/t, 0.18 g/t gold and 0.21% copper, which in total contains just below 102 million ounces of silver-equivalent. Using at 30 g/t cutoff, the resource is estimated at 35.5 million tonnes grading 39 g/t silver, 0.22 g/t gold and 0.3% copper, which contains 86.4 million ounces of silver-equivalent. Campbell noted that he was “expecting an initial resource of 50 million silver-equivalent ounces (silver and gold). While the resource was larger than expected, the average silver and copper grades were roughly 14% lower than expected, slightly offset by 10% higher gold grades.” Campbell expects SVL to continue to grow the resource as the company has commences phase 2 of drilling that includes 10,000 m of diamond drilling and 5,000 m of RC drilling. The program is focused on the Main Mineralized Trend along the projected 2.5-kilometre strike length. A number of other targets will be tested including the El Coloradito, Esperanza and Santo Nino. With the added drilling, Campbell expects La Joya to develop into a 200+ million silver-equivalent resource. After adjusting for higher-than-expected initial La Joya resource, Campbell upwardly revised his in situ valuation and boosted his target price.