Gencos Feasibility Study Nears Completionadmin
Genco Resources Ltd. announced that its independent mining consultant, Kappes Cassidy & Associates of Reno, Nevada, is nearing completion of the feasibility study respecting expansion of Genco’s La Guitarra Mine. The study is now anticipated to be completed and announced in mid-October.
In anticipation of receipt of the finished study, Genco continues to explore several financial relationships it has developed this year with a view to funding the expansion. In light of current financial conditions, Genco is also engaged in discussions with financial advisors regarding all strategic alternatives.
James R. Anderson and Robert C. Gardner, Co-chairmen, stated “We believe that the Board’s and management’s significant ownership stake gives Genco the strength to implement the optimal course, and maximize shareholder value, during these unsettled economic times.”
Genco is a primary silver producer in Mexico, whose core assets are multiple mining sites, including La Guitarra Mine complex located in its wholly-owned Temascaltepec Mining District of central Mexico.