SilverCrest Metals – Recapping the Feasibility, Equity Financing, Debt Facility, and New Discovery at El Picacho

February 26, 2021

Over the past 6 weeks SilverCrest Metals (TSX.SIL – NYSE:SILV) has released a lot of key news. It started in early January with a debt facility of US$120million, then a Feasibility Study on February 4th, followed by an equity financing of US$138million, and finally announcing a new discovery at the recently acquired Le Picacho Property.

Chris Ritchie, President of SilverCrest Metals joins me to recap all this news and look ahead to the development and future exploration at the Las Chispas and El Picacho Properties. We also discuss the production forecasts outlined in the Feasibility. If you have any follow up questions for Chris please email me at

Click here for a summary of all the recent news out of SiverCrest.

    Feb 26, 2021 26:16 AM

    off topic:

    Xtierra drills 13 m of 336 g/t AgEq at Victor
    2021-02-26 12:01 ET – News Release
    Mr. John Kearney reports
    Xtierra Inc. has released further positive and consistent drill results on another two drill holes of a five-hole program totalling 1,800 metres into a previously identified structure (Victor vein) with high-grade silver mineralization located adjacent to and west of the main Bilbao silver-lead-zinc deposit.

    Feb 26, 2021 26:05 PM

    Great update from Chris & Cory on Silvercrest on all their recent news on raising the capital, the Feasibility Study, and the recent great exploration results. I remain a happy shareholder of SILV and wish their team all the success they deserve.

    Feb 26, 2021 26:13 PM

    Patience! – 400 SILV @ $8, 800 @ $7.82. Never ever thought I’d see sub $8
    Toe in the water NEM @54.60

      Feb 26, 2021 26:51 PM

      I was wondering if you were adding more SILV here Marty. Very good job on letting the markets come to you. Picking up Silvercrest at $7.82 was a quite a score indeed. $8 is great as well. My cost basis is somewhere in the mid 9’s, so I may have to do some averaging down next week.

        Feb 26, 2021 26:04 PM

        At one time, Silvercrest was one of my biggest gains. The. I took profits and added back and put it on ignore. I was surprised today to be in the red also. My first impulse was to SELL, but instead put it back on ignore.

          Feb 26, 2021 26:21 PM

          Well, I did very well with the Silvercrest team in the prior incarnation, where they took Santa Elena from explorer, to developer, to producer and then were acquired by First Majestic for the win (but not before spinning out their current assets into Silvercrest 2.0).

          Now they are doing it again, going from explorer, to developer, and in 1-2 years will be producers once again. I have a feeling the big boys are are reviewing their Feasibility Study, and watching them head towards production, but will buy them out once again.

          If they spin more assets out into a Silvercrest 3.0, then I’d back this team again.

            Feb 26, 2021 26:01 PM

            With SILV, any suitor would have to really pay up. You have to believe with 2/3 of the known veins yet unexplored, and Pacacho blossoming early on, and the outlook for Ag /Au this decade and beyond , and all the financing in hand, takeover isn’t going to happen, like MAG. THE TIME TO ACT WAS THE MARCH TAKEDOWN for an interest with perspective

            Feb 26, 2021 26:13 PM

            Agreed, the big boys are going to have to pay up big time, and I’m almost expecting more a merger of companies on a pro-rata ownership basis between 2 companies, instead of a cash offer. Hopefully that is still a ways off, as like you mentioned, I’d like to see them explore all the other veins they have on their property and really blow people’s minds with the resources they could develop on their land package.

        Feb 26, 2021 26:50 PM

        EX, that $7.82 was 5% below the lower daily BB. AND ACTUALLY HAD set that price last evening. Of course I had an extreme lower price set as well,cause I’ve seen 90% of everything the last 23 years. Happy the way ELORO HELD UP YODAY. DID PICK UP SOME MTA EARLIER IN THE SESSION.Wasn’t prepared for that but filled @ $8.27,

          Feb 26, 2021 26:08 PM

          Really well done Marty. You set that stink bid up perfectly and I congratulate your solid trading, as per usual. I’ll likely add a bit more SILV next week, but had other stocks I wanted to top up today, and outlined my 20 trades today over on the Craig Hemke blog.

          One of those trades was adding back my Metalla (MTA) position as well. I sold Metalla Royalties (MTA) at $12.67 on Jan 4th, and so buying it back today at $8.71 was a no-brainer. Again, you did much better than that if you picked it up at $8.27 (fantastic man). I should have set stink bid limit orders as silly levels, just in case they got filled, but I wasn’t sure how crazy today would be, and wanted to survey the lay of the land across different sectors and my whole portfolio of stocks before buying.

          One day I hope to be as good of a trader as you Marty, because after following you for all these years, I’d say you are one of the most consistently profitable traders, picking some of the best stocks, and getting the best prices, that I’ve seen anywhere. Your comments on which companies you are buying and which ones you are selling are very much appreciated.

    Feb 26, 2021 26:28 PM

    Excellent update from SILV. Superb management.