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Arian's first concentrate production at San José is major milestone

Published: 07:24 30 Mar 2015 BST

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Mexico-focused silver miner Arian's (LON:AGQ) has reached a major milestone in its development, with first silver-lead concentrate produced from its newly constructed plant at the San  José project in Mexico.

Jim Williams, chief executive, told investors it marked "the transition to a new silver mining company".

The firm has kick-started the commissioning of the zinc flotation circuit and anticipates first zinc concentrate production early in the second quarter of 2015.

Throughput is earmarked to be increased over the coming months until the maximum throughput of 1,500 tonnes per day is achieved.

Williams added: "We have successfully optimised the crushing circuit to produce a smaller than expected particle size which will be more beneficial during the milling stage.

"We have also commenced commissioning of the zinc circuit and expect to produce our first zinc concentrate early inthe second quarter."

Progress has been marked for the firm recently. In February it purchased the 2% net smelter return (NSR) royalty on the wholly owned Mexico property.

The NSR was retained by the previous owners of the project, and having elected back in January 2010 not to buy them out for US$1mln Arian Silver has now negotiated the purchase of the NSR for just US$750,000.

"This looks a positive deal and represents a 25% discount to the previous option to acquire the NSR that expired in 2010," house broker Northland Capital Partners said at the time.

The purchase price includes the amount owing for NSR payments due under the former toll milling operations, and was described by Jim Williams, chief executive officer of Arian Silver, as "excellent value".

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