MxMining

Silver Eagle Mines announced through a news release on Dec 16/08 that they would be temporarily shutting down production at their Miguel Auza Mine due to the low price of the metals they're mining.

However, in the last few days most of the metals - including silver which is the most important to Silver Eagle, have jumped quite a lot. Hopefully they can hold these levels for a little while and Silver Eagle isn't jumping the gun on this temporary closure.

In the Miguel Auza "Prefeasibility Report" dated July 25/08 it is stated that: "Mineral reserves are estimated using an NSR value derived with metal prices of US$11 per ounce for Ag, US$0.80 for Pb, and US$0.85 for Zn".

According to Silver Eagle's study and as long as Ag prices remain as they are today ($11.37 spot price) Silver Eagle should be able to get their Miguel Auza Mine going again fairly soon.