Update: Delays and mitigations
Arian produced first concentrate from La Tesorera in April 2015 and since then it has continued with the phased commissioning of the plant. Whereas it had been expected to achieve commercial production in Q2, the failure of the tertiary (cyclone) crusher’s head has now delayed this until Q415 and created a potential, additional funding requirement for the company, which we estimate to be in the order of US$3.1m. In response to the delay in achieving positive cash flow and the additional funding requirement, Arian’s shares have fallen by 12.7p.Arian Silver is engaged in silver exploration, development and production with a focus on mineral resource properties located in Zacatecas State, Mexico.
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