Fundamental Research Raises Target on SVL

SIDDHARTH RAJEEV, Fundamental Research Corp. (03/31/2010)
"SilverCrest has signed a definitive project facility agreement on a US$12.5 million loan with Macquarie Bank Ltd., and a definitive purchase agreement with Sandstorm Resources Ltd. on a US$12 million advance purchase of gold production.

The company is planning the first silver pour in early Q310, with commercial production to commence prior to the end of 2010.

Despite 2009 being a difficult year for junior mining companies, SilverCrest continued to advance the flagship Santa Elena project toward production. . .in addition to other developments and ongoing construction, the following major achievements have been completed since our last update in March 2009: 1) All permits are in place; 2) 20-year agreement with local community ratified; 3) detailed engineering; 4) 3 stage crusher and Merril Crowe Plant purchased and delivered to site; 5) financing acquired; 6) 100% interest in Santa Elena acquired; 7) all construction and mining contracts in place; and 8) major construction initiated November, 2009

We have raised our valuation from $1.98 per share, to $2.13 per share."

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