Sierra Madre Gold & Silver (SM.V) is making good progress on its flagship mine, the La Guitarra silver-gold mine close to Mexico City. At the end of July, the company shipped a first batch of concentrate containing almost 91 dry metric tonnes wit almost 100 ounces of silver and almost 1 ounce of gold per tonne of concentrate, representing a gross value of almost half a million USD. A second shipment was expected to leave the mine site at the end of last week, and that would likely result in another gross metal value of US$0.5M leaving the door. Keep in mind these are gross concentrate values, so the net cash received by Sierra Madre will be lower.
The mill is currently running at a throughput of 259 tonnes per day and the ramp-up towards the nameplate capacity of 500 tonnes per day is ongoing. At that rate, the company should be able to ship 350 metric tonnes of concentrate per month.
Disclosure: The author has a long position in Sierra Madre Gold & Silver. Sierra Madre is a sponsor of the website. Please read the disclaimer.
