Sector NewswireTM

Sector: Mining - Metals and Minerals  :

Sub Sector: Precious Metals  :

 

News Release - Amended, August 15, 2009 02:34 PM ET 

 

 

Valuation Note - Gold and Silver Mining Expert/Award Winning Journalist Describes CMC Metals Ltd. as 'Debt-free, Unhedged & Gearing Up for Cash-Positive Silver Production'

 

Precious Metals Review of CMC Metals Ltd. by gold and silver mining expert, journalist David Bond. The regular Kitco contributor and award winning journalist makes a compelling case for being long CMC Metals Ltd. (TSX-V: CMB) (US Listing: CMCXF.PK).

    ;

  

NEW YORK, NY, August 15, 2009 /Sector Newswire/ - Precious Metals Review of CMC Metals Ltd. (TSX-V: CMB) (US Listing: CMCXF.PK) provides insight into the opportunity afforded investors as the CMC Metals 100% owned Silver Hart mine and mill is set to come online in Q2 2010, making CMB.V Canada's newest long term debt free unhedged silver producer. This exciting exploration/near-term producer is the subject of a recently published article by regular Kitco contributor, gold and silver mining expert, journalist David Bond. Precious Metals Review has published a synopsis of the article and provides full text of the aforementioned subject article.

  

The full review with chart may be seen at http://www.preciousmetalsreview.com/PMRcmbbond.pdf

  

Excerpts:

“...after interviewing CMC Metals' CEO, Don Wedman (P.Eng) and going over CMC's very conservative estimates of its silver stash, cost of production and decimal-point-defying ore grades, and a quiet heads-up from our most reliable stock-picker, we're going to take a flyer on this no-brainer.
 
CMC Metals is in the process of installing a prefabricated 80 tonne/day mill (upgradable to 300 t.p.d.) at its 100%-owned Silver Hart project in the south-central Yukon. They've exposed a 6.5 million-ounce resource of high-grade silver averaging more than 56 ounces per tonne. That's about 5 times the cut-off grade here in the Coeur d'Alene District's underground mines, except that this baby's open-pit. CMC has blocked out an initial 9 million ounces of silver with a very nice 7.5% lead and zinc component that knocks the extraction cost down to a very comfortable $4.45/oz.
 
The story gets better. The 5200-acre Silver Hart is less than 5 percent explored; there are 20 known mineralized trench showings with visible massive galena, with only three of the 20 zones having been drilled so far. Extrapolating the numbers a bit from what CMB already has blocked out, and you could easily be staring at a 55-million oz. deposit. Additionally, CMC Metals has another pair of properties – one in late-stage development, in close proximity to the Silver Hart."

 

The full review with chart may be seen at http://www.preciousmetalsreview.com/PMRcmbbond.pdf

 

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell and of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URLs.

 

SOURCE: Sector Newswire per: PreciousMetalsReview.com

editorial@SectorNewswire.com

 

Additional Disclaimer and Disclosure I Contact I Terms and Conditions I Copyright I Privacy Policy