news from thursday

Hi Macminers.

her are the News from Thursday:

MACMIN SILVER LTD
(A.B.N. 53 056 776 160)
P.O. Box 7996 Telephone: (07) 5592 2274
Gold Coast Mail Centre Facsimile: (07) 5592 2275
Queensland 9726 Email: [mail][email protected][/mail]
AUSTRALIA Internet: [url]www.macmin.com.au[/url]

ASX Announcement 7th February 2008

[b]FUNDING TO ASSIST IN SILVER PRODUCTION UPGRADE[/b]

• The Company has received $4,709,669, the net amount of the final tranche (50%) of the Convertible Note funding announced on 19th September 2007.

• These funds, and some of the funds received from the current Entitlements Issue, are to be used to upgrade the Twin Hills Silver Mine at Texas, Queensland, Australia, with a targeted silver production of 180,000ozs/month. In addition, the Company plans to maintain a strong exploration impetus on existing projects and evaluate new silver project opportunities.

• The Company remains in a sound financial position. It has an ongoing relationship with YA Global Investments (formerly known as Cornell Capital Partners L.P.) originally entering into an equity line facility for AUD$10 million in November 2003. The strong relationship developed with this group has proved to be advantageous for the Company, including support in providing
the current convertible note.

• It should be noted that the Company also has equity investments, in listed companies, with a current market value of approximately AUD$9 million. As reported on the 15th October 2007, the plant commissioning process in 2007 revealed a number of areas where further capital would need to be deployed before the stated silver
production could be achieved.


[b]1. Crushing and Screening Upgrade[/b]

The initial upgrade, announced 19th December 2007 is on schedule for completion in May 2008. Originally, it was anticipated that this upgrade could be achieved by March 2008, but the
tight market for such equipment meant the completion date was unfortunately pushed out to May 2008.

[red][i]SCHON WIEDER eine Verzögerung !!!!!![/i][/red] :mad:

A senior crushing expert, supplied by the crushing upgrade contractor, will commence duties on site this week. In addition to preparing for the installation of the initial upgrade, he will review existing crushing operations with the objective of increasing the crushing rate using the existing crushing circuit.
When sufficient funds are available a further upgrade to allow production to exceed 180,000ozs silver/month may be implemented.


[i]Da will ich mal hoffen ob der es auf die Reihe bringt.....[/i]:rolleyes::rolleyes:

Mineral Resources : Concept to Development


[b]2. Silver Powder Production[/b]

Silver powder is produced by an electrowinning process (EM-EW Plant) from “pregnant”:eek::eek: solutions derived from the heap leaching extraction process of the silver ore. The heap leach
process produces solutions which contain between 50 and 150g/t silver, depending on the grade of ore and the length of time a heap has been leached.

Commissioning of the EM-EW plant resulted in a number of modifications which, coupled with running the plant on a 24 hour/7 day schedule, has led to considerable improvement in silver
powder production.

As announced on 19th December 2007, to strip the remaining silver (less than 50g/t solution from the pregnant solutions after electrowinning), a Merrill Crowe plant is being installed. This
should allow the pregnant solution to be stripped to less than 10g/t before being re-circulated through the heap.
The construction of the first module of the Merrill Crowe plant is on schedule for completion in March 2008, which will be followed by commissioning.


[b]3. Additional Leach Pads[/b]


A new pad for approximately 400,000t of ore is approaching completion and loading will begin in the near future. The existing pad, to a height of 8m, has a capacity of 200,000t of ore. Both
pads can hold more ore than the figures above as it is anticipated they will be extended to their approved height of 16m.


[b]4. Silver Powder Sales[/b]


Approximately 2,650kg of silver powder, estimated to contain 69,000ozs of silver has been produced. The silver powder is a unique product and can be immediately sold for some applications. However, to obtain maximum benefit and price for the product, the Company is conducting further tests to determine possible upgrading processes for the silver powder.

[i]Hoffentlich verbrauche die nicht das ganze Pulver zu testen,,,,,[/i]...;)



To date 15,500ozs of silver have been sold and further sales will be made in the near future. As mentioned above, in addition to the 69,000ozs of silver produced, a further 39,000ozs of silver are in solution at site and it is anticipated most of this silver will be recovered through the Merrill Crowe plant.




Bob McNeil commented: “The commissioning identified a number of areas where improvements were needed, some of which we are still researching. In particular it has become obvious that for the project to reach a satisfactory production rate additional capital
would need to be raised and expended. This is one of the reasons for the convertible note financing and the current Entitlements Issue. The other reason is that we would, in the current
high silver price regime, like to fast track some of our exploration projects in the immediate Texas area and the Tally Ho project in Central Queensland.

The Entitlements Issue to shareholders gives existing shareholders access to additional equity in Macmin at a reduced share price. The Company is in a sound financial position and expects to achieve the stated plant upgrade by May 2008. Once this upgrade is commissioned the Company will consider a further upgrade to raise production levels above 180,000 ozs/month of silver.

The silver price continues to enhance the project with the current price in Australian dollars at a 27 year high.”
Mineral Resources : Concept to Development

[b]The Company[/b]


Macmin Silver Ltd is a silver focused company that has been listed on the ASX since 1993,hose primary projects are the Texas Silver Project, South-East Queensland, Australia where the Twin Hills Silver Mine is located, and the Tally Ho and Mt Scott Projects near Mackay, Central Queensland. The Company aims to utilise its accumulated knowledge and skilled team of staff to consolidate a position as the premier silver focussed company in Australia. This
objective is based on our belief that rising silver prices herald a recognition that silver in the 21st Century will be a fundamental metal in technological advances and an important investment
asset.
Macmin has exposure to gold by way of an 14% equity in New Guinea Gold Corporation (NGG) and a 1% NSR royalty on production by NGG. In addition, Macmin maintains equity investments in junior Australian explorers, Malachite Resources NL and Frontier Resources Ltd.


Further information is available at [url]www.macmin.com.au.[/url]

Yours faithfully
Garry Edwards
CHIEF EXECUTIVE OFFICER

[url]http://sa.iguana2.com/cache/fa91f0e0a07d3589459d116ec6289ec3/ASX-MMN-196534.pdf[/url]