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Silver Dragon inks deal to process up to 12,000t at Las Minitas in next 12 months

Bnamericas Published: Tuesday, June 16, 2009
Canada's Silver Dragon Resources (OTC BB: SDRG) inked toll-milling agreements with the Besmer corporation to process up to 12,000t of ore during the next year from the former's Cerros Las Minitas polymetallic property in Mexico's Durango state, Silver Dragon reported in a release. The initial agreement can be extended upon approval from both parties. Silver Dragon is to receive 55% of the profits while Besmer will keep the remainder. "This agreement has been executed in parallel to our simultaneous plan of bringing our own mill into production in the fourth quarter of this year, which should ultimately yield significantly improved profit margins," Silver Dragon CEO Marc Hazout was quoted as saying. Silver Dragon expects to be producing at a rate of 50t/d in Q4 and 150t/d in 2Q10. The company has mining and development projects in Mexico and China.

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