Alamo Dorado Silver Project Gets Go-Ahead

摘要

Pan American Silver announced in late February 2005 that it would immediately begin developing a new open-pit silver mine at its Alamo Dorado silver project 320 km south of Hermosillo, Sonora, Mexico. The mine is planned to produce 5 million oz/y of silver at a cash cost of less than 3.25 dollars/oz, net of gold byproduct credits, beginning in late 2006. The project has 44 million 02 of silver in proven and probable reserves and a further 9 million oz in measured and indicated resources. Capital costs to develop the Alamo Dorado project are estimated at 76,6 million dollars, including working capital and a contingency allowance. Pan American will fund the project from cash reserves. Construction is expected to take 15 to 18 months.