Issue link: http://resourceworld.uberflip.com/i/1099276
8 www.resourceworld.com A P R I L / M A Y 2 0 1 9 MEXICO POLYMETALLIC PRODUCER with exciting GROWTH POTENTIAL Diversified Asset Base with three mines in two countries • Resource Growth from successful brownfield exploration programs • Production Expansions underway at all three mines • Solid Financial Position with Cash Flow to fund growth TSX: SMT | BVL: SMT NYSE American: SMTS www.sierrametals.com Zn Cu Ag Pb Au in Chihuahua, Mexico. The complex con- sists of the Palmarejo Mine and processing facility, the Guadalupe underground mine, the Independencia underground mine and other nearby deposits. The Palmarejo complex produced 7.5 million ounces of silver and 122,722 ounces of gold in 2018, compared to 7.2 million ounces of silver and 121,569 ounces of gold in 2017. The other asset in Coeur's Mexico portfolio is the La Preciosa Project in Durango. It is estimated to host a proven and prob - able reserve of 208,500 ounces of gold and 126.4 million ounces of silver. According to a 2014 feasibility study, the initial cost of pre-production and mine development is estimated at $327 million over two years. Life-of-mine production is estimated at 128,000 ounces of gold and 107 million ounces of silver. First Majestic Silver Corp. [FR-TSX; AG-NYSE; FMV-FSE] is another Mexico- focused silver producer with a portfolio of six mines. They are the San Dimas silver/ gold mine, Santa Elena silver/gold mine, Encantada Silver Mine, San Martin Silver Mine, La Parrilla Silver Mine and the Del Toro Silver Mine. In 2019, these mines are projected to produce between 14.2 and 15.8 million silver ounces at an all-in-sus - taining cost of US $12.55 to US $14.23 an ounce. Its asset portfolio also includes the San Dimas Mine following the acquisition of the site's former owner Primero Mining Corp. in May 2018 for $187 million in com - mon shares of First Majestic. Under a new streaming agreement, Wheaton Precious Metals Corp. [WPM-TSX, NYSE] is enti- tled to receive 25% of the gold equivalent production from San Dimas. Great Panther Silver Ltd. [GPR-TSX; GPL-NYSE] has emerged as a low-cost sil- ver producer with two mines in Mexico, and a newly acquired polymetallic project in Peru that has the potential to increase the company's production by 75% from current levels. The company's flagship asset is the Guanajuato Mining Complex, located in the central Mexican state of Guanajuato. It includes a satellite opera - tion known as the San Ignacio Mine, located about 20 km west on the main operation. Roughly 65% of the company's production is generated by Guanajuato. The other 35% comes from the Topia Mine, which is located high up in the Sierra Madre mountain range. Following a recent processing plant upgrade and plan to transition to a new handling facility for dry stack tailings, Topia produced 386,867 ounces of silver in the second quarter ended June 30, 2017. Excellon Resources Inc.'s [EXN-TSX] 100%-owned Platosa Mine in Durango has been Mexico's highest-grade silver mine since production started in 2005. The company is focused on optimizing the Platosa Mine's cost and production profile, discovering further high-grade silver car - bonate replacement deposit mineralization on the 21,000-hectare property as well as epithermal silver mineralization on the 100%-owned, 45,000 hectare Evolucion property in Zacatecas, just south of Hecla Mining Co.'s [HL-NYSE] San Sebastian