logo-loader

Q&A: Arian Silver boss Williams aiming high in 2014

Last updated: 20:31 08 Nov 2013 AEDT, First published: 21:31 08 Nov 2013 AEDT

no_picture_pai

Mexico-focused Arian Silver (LON:AGQ) has begun the refurbishment programme of the El Bote processing plant. Chief executive Jim Williams sets out the steps to be taken before production starts by the end of the fourth quarter next year.

Proactive Investors: The purchase of the plant was set back in August. How does this change things for investors?

Jim Williams: Let me recap your listeners on some of the key events of the past quarter. We successfully raised $15.8 million in a very difficult market in August. We can now provide investors with peace of mind to deliver what we have promised so far. That in itself must be a significant upbeat thing for investors right now. 

PI: What’s the timeline to get the refurbishment done, bring it across to the mine, and effectively start production?

JW: To answer the question quickly, by the end of Q4 next year, we’ll have half the mill capacity – that is 750 tonnes a day – operational. 

Now, let me just take you through the steps of what this entails between now and then. We are currently undertaking refurbishment, and the dismantling and reassembly of the plant, which will happen on our 30-hectare site, located some two miles from the main San José haulage ramp.

We’re concurrently undertaking a significant mine development, to enable the sustainable mining and throughput of material in our new mill. Thereafter, this 750-tonne a day mill will ramp up to 1500 tonnes a day within two years of this time.

PI: What is the cash position now and where will this cash take Arian Silver?

JW: The cash position right now is approximately $8.6 million, and this is expected to put us in production sometime late summer next year. Now, we are currently working on mechanisms whereby the financing facility can be either adjusted or replaced, and we shall report on this in due course.

PI: Clearly 2014 is going to be a big year. But what do you say to investors about the situation you’re in at the moment and where you’re going?

JW: Look at today’s share price, for example. This must be a key point to come in for new investors, right now. The market is destined to pick up. Silver is not strong, but it’s destined to get stronger on the back of currencies, for example. 

As I mentioned to you earlier on, having done our financing in difficult market times, having bought the mill, doing what we said we would do right now, this must be a good time, and 2014, in my opinion, is going to be a very good year ahead.

 

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

6 hours, 55 minutes ago