The Phaserl


Black Mountain: high grade silver production imminent

The next new producing mine in the U.S. will likely be Black Mountain’s New Departure silver mine due for first ore production in a matter of weeks, followed by Conjecture only a few months later.

by Lawrence Williams,

The next U.S. silver mine will be located in Montana, not far from the state’s border with Idaho and in a major historic silver producing area. Indeed, according to the company involved, Black Mountain Resources’ chairman, Peter Landau, speaking in London yesterday, first production will start up from the company’s New Departure property within the next few weeks.

Black Mountain owns a 70% majority stake in three silver properties in the Montana/Idaho border area, all based around old silver mines in districts where the low silver prices in the 1980s led to most of those still in production then being forced to close. It is concentrating on two of these – New Departure and Conjecture, the latter being close to Coeur d’Alene in Idaho – and says it is working towards bringing both of these mines into production this year. The third property, Tabor, also has potential, but is very much on hold pending results from the first two mines that Black Mountain is developing and on the performance of the silver price.

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2 comments to Black Mountain: high grade silver production imminent

  • Ed_B

    “Black Mountain is thus an interesting, but very risky, small silver mining play – with 2 mines operating it is looking to produce some 1.7 million ounces of silver equivalent a year at a cash cost of around $8-10 an ounce, which would give it a margin of around $12 an ounce at current silver prices if this can be achieved – a little less if ongoing exploration costs and sustaining capital are taken into account.”

    An interesting situation for sure, with other miners reporting production costs of $24-25 an oz. for silver, which is below the current wholesale selling price of silver. This can’t be good for future silver prices.

  • Troy

    Everyone should wait for silver to hit $17, then buy the hell out of it!

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