this is the company's partner in the san luis project. they also have a 100%-owned project called cerro jumil, and although it is relatively low grade gold, it looks like it will be economic to develop. total capital costs are estimated at $72 million, so the company will need to arrange some financing, but at least they can continue the development for now:

Esperanza Silver Corp. (EPZ) (TSX-V:EPZ - News)(PINK SHEETS:ESPZF - News) is pleased to announce the results of a recently completed Preliminary Economic Assessment (PEA) of its 100%-owned Cerro Jumil project in the State of Morelos, Mexico. The base case pre-tax net present value is US$46.7 million with a five percent discount rate and the internal rate of return is estimated at 19.5% using $800 gold.

The study was completed by Vector Engineering Inc. with Mine Development Associates and Lyntek Inc. providing design and cost estimates for the mine and process areas respectively. The Technical Report can be found on Esperanza's website (www.esperanzasilver.com/cerrojumil_techreport.php).

The preliminary economic assessment is based on gold resources previously reported by the company (News Release Oct. 1, 2008: www.esperanzasilver.com/release.php?R_ID=142). New drilling is planned for the fourth quarter of this year to increase the resource base.

http://finance.yahoo.com/news/Esperanza-Silver-Corporation-iw-948820287.html?x=0&.v=1