Silver Elephant And The Pulacayo-Paca Silver Project
Below is our recent interview with Morris Xu from Silver Elephant:
Q: Could you provide our readers with a brief introduction to Silver Elephant?
A: Silver Elephant is a silver mining company listed on Toronto Stock Exchange with ticker symbol ELEF (OTC: SILEF), we have been active in silver exploration since 2016 and mining started in october 2023 at our Pulacayo-Paca silver project which is located in Bolivia.
Q: Any highlights on your latest announcement?
A: This is a monumental event for the company and upgrade the company to producer status after 10 years, and $40million in explorations and technical studies.
The company signed a toll-milling agreement with Andean Precious Metals, whereby Silver Elephant receives total of US$5 million from Andean in the next 18 months for the mining and trucking of Elephant’s Paca minerals to Andean’s processing facility about 180km from Paca.
Further, Andean reimburses the company of all operating expenses. Current production rate is 500 to 1,000 tonnes per day grading between 150 to 250 grams of silver per tonne.
Q: Can you tell us about your Pulacayo-Paca Project?
A: The project has a rich history with over 600 million oz of past production from just Tajo vein. The company has identified additional veins and areas and was able to prove up over 100million oz of silver in measured and indicated category, plus over 2 billion pounds of lead and zinc as by products. The community and the government are very supportive of Pulacayo.
Q: What can we expect from Silver Elephant in next 6 months? What are your plans?
A: We are mining and delivering Paca materials to our partner Andean, and studying the construction of a processing plant at Pulacayo-Paca so we can capture higher margin. The resource is plentiful, so increasing cashflow is our priority rather than exploration.
Q: Would you might update us on the status of Silver Elephant Spin Off?
A: The company had spun off 3 companies in 2022. The nickel company is now listed on TSXV: FLYN (OTC: FLYNF). Public listings of vanadium and royalty companies are planned in 2024.
Q: What is the best thing about Silver Elephant that people might not know about?
A: Silver Elephant is an active silver producer with over 100million oz of high grade silver, which is heavily undervalued given the current $10 million market capitalisation. We have no debt and are not looking to dilute our shareholders. This could be one of the best valued silver stories.
