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Cyanide Shortage Kills Silvermex Resources Q2, Silver Production Slips 12.5%

Silvermex Resources Inc. (SLX.TO) said silver production for the second quarter of 2011 decreased 12.5% from first-quarter levels while gold production fell 6%.

The miner said the decline were caused, in part, to restricted cyanide deliveries to the company refinery following flooding at a cyanide production facility in Memphis, Tenn.

Silvermex initially stockpiled inventories but was forced to eventually shut down the refinery, taking advantage of the time for routine maintenance. The stored inventory is expected to be processed and shipped during the third quarter, the firm says.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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