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SilverCrest declares commercial production at Las Chispas

Kitco Media
By Jim Wyckoff
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SilverCrest Metals (TSX:SIL) declared that its Las Chispas Mine, located in Sonora, Mexico, achieved commercial production on November 1, 2022.

Declaration of commercial production is based on achieving a continuous two-month period operating the processing plant at a minimum of 80% capacity for its name plate design of 1,250 tonnes per day or 1,000 tpd and showing a combined gold and silver recovery or silver equivalent recovery of greater than 85%, wrote the company.

Next step is ramping up production, said CEO N. Eric Fier.

“Moving Las Chispas from discovery to production in less than seven years is a monumental achievement. We are extremely proud of the dedication and execution from all involved. We now look forward to finishing our ramp-up to designed levels, generating revenue with subsequent free cash flow, and releasing an updated Technical Report in H1, 2023”.

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Jim Wyckoff

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another.

Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected "Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com. He received his degree from Iowa State University in Ames, Iowa, where he studied journalism and economics.

Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special. 1 877 963-NEWS jwyckoff at kitco.com

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