http://www.abc.net.au/news/2012-02-02/reopened-mines-silver-hits-...

http://www.abc.net.au/news/2012-02-02/reopened-mines-silver-hits-the-market/3807268/?site=southqld§ion=news

"Reopened mine's silver hits the market"

Updated February 02, 2012 13:15:04

A mine operator at Texas, on Queensland's southern border, says its rejuvenated site could produce silver bullion for up to 10 years.

The Twins Hills silver mine has begun producing commercial silver, after it went into administration in 2009.

Alcyone Resources managing director Andrew King says he believes there is scope to expand production.

"With our official reserves we've got three to five years out there now," he said.

"We've got a very aggressive exploration program underway, we'd like to see we'd get our five to seven years pretty quickly and our aim long-term is to show that we've got enough resources there that'll potentially get us a seven to 10-year mine life."

Mr King says the first silver bullion at the mine is now ready for sale. "I think the market seems to be stabilising, the market's still holding up to the 33, well it's up over the 33 dollars an ounce US," he said.

"The downside of that is the Aussie dollar's up at the moment at 106 but we're still very much on the profitable side of the equation, so we're pretty happy where things are."