On 22nd September, Arian Silver announced that all necessary contracts were in place for the proposed silver production operation to begin at its 100%-owned San José mine, Zacatecas, Mexico and that the company would be benefit from resulting cash flow. They stated that this cash flow was expected in Q4 of 2010, which we are now in.
[For full details see http://www.ariansilver.com/s/NewsReleases.asp?ReportID=419913&_Type=Press-Releases&_Title=Arian-Silver-Commences-Silver-Production]
AGQ announced that they expected to mine 500 tons per day [tpd] and would operate for 20 days each month at the mine using contract mining. Of this amount of ore, 400 tpd would feed the milling operation at its present size. But the milling operation is expected to be improved to take the full 500 tpd of ore mined.
A figure of US$6,500 per ton was given for the likely value of the silver concentrate. This value was based on an $18/oz price of silver and the anticipated silver content of between 370 and 440 ozs per ton of ore. Since that time the price of silver has increased substantially from $18/oz to over $22/oz. So the resultant silver concentrate value is likely to be much higher now.
It is some three weeks since AGQ made their announcement that the contracts for the milling and the mining were in place and that production of silver was imminent.
It cannot be much longer now until shareholders receive the important news that silver concentrate has been produced and sold to market and that the cash flow to continue the further development of the San Jose mine and AGQ's other projects is being received.
I for one look forward to this news with great anticipation!
About the Author
P3dr036
0 comments
