United Mining Group Commences Trading on Frankfurt Exchange Under Symbol "UM8"
United Mining Group Extends Contract at Galena Mine
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Frankfurt Exchange: View Quote
02/24/2011 - United Mining Group Extends Contract at Galena Mine
02/22/2011 - United Mining Group Announces Changes To The Board
01/11/2011 - United Mining Group Completes Milling Agreement for its Crescent Silver Mine
Investor Presentation (PDF)
Corporate Fact Sheet (PDF)
Wall Street Journal ~ Price of Silver Soaring - Investor-Fueled 74% Gains Dwarf Gold; Race to Open Mines - Dec 26, 2010
Resource Clips ~ UMG 2.0 - Oct 13, 2010
Resource Clips ~ UMG Moves Ahead at Crescent Mine - Sept 13 - 2010
UMG is a US based, profitable, vertically integrated mining company based in Idaho's Silver Valley, the second largest silver camp in the world. UMG is earning an 80% interest in the Crescent Silver Mine which has historically produced 25 million ounces of silver at an average grade of 27.3 opt (SRK 43-101, March 2010). UMG is committed to building a senior silver-producing mining company based on aggressive exploration and development of its highly-prospective current land position and through the acquisition of additional silver interests.
Located in Idaho's "Silver Valley", the 2nd largest silver district in the world - over 1 billion oz silver historical production.
(Click image to enlarge)
Watch UMG Ring the Bell at the TSX
Gold and silver are higher this morning with the dollar, the British pound and commodity currencies falling in value. It is too early to tell whether the recent margin driven, paper sell off on the COMEX is over but physical supply remains limited while demand remains robust, particularly in China, India and wider Asia.
Cross Currency Rates
Knowledgeable experts continue to urge investors to own gold and silver due to the likelihood of much higher prices, currency and inflation risk.
One of the most respected global technical and macro strategists in the world, Robin Griffiths has said that silver and gold could rise to $450 and $12,000 per ounce respectively due to the debasement of paper currencies.
Dow Jones to Gold Ratio - 50 Years (Quarterly)
Griffiths was chief technical strategist with HSBC for over 20 years, has 44 years investment experience and now works for Cazenove Capital, one of the oldest investment houses in the world tracing its origins back to the 17th century. It manages money on behalf of blue blooded clients and is widely believed to manage some of the British Royal family's wealth.
When asked by King World News if his $350 target was a realistic price level for silver Griffiths stated, "That is absolutely not unrealistic. If you adjust the old all-time high for inflation...that gives you $450 for silver. Then you add in the fact that they are printing money, you can take it higher than that without any difficulty at all."
Dow Jones Industrial Average - 50 Years (Quarterly)
Griffiths told King World News that "Bulls (bull markets) are very successful at wobbling people out at the wrong time. "
Griffiths has previously said that not owning gold today is a form of insanity and "may even show unhealthy masochistic tendencies, which might need medical attention." (see here)
He has also critiqued the western media's superficial coverage of gold and their resort to Warren Buffett's ignorant comments on gold despite money printing and international currency debasement on a scale never before seen in history .
Meanwhile perhaps the leading commodity expert of our time, Jim Rogers, has said that silver was not and is not a bubble.
Regarding the recent price correction he said, "I don't know what caused it maybe it was short covering, maybe it was rumors. I have no idea." He continued "silver went down a great deal but if you raise margin requirements 150%-200% you would expect something to collapse," he added.
"I hardly see how silver could be a bubble when, even at its top, it's still below its all-time high. That's not much of a bubble."
If it goes to $150 this year, all other things being equal, then I'd say you better sell your silver. If it goes to $150 in 10 years then I would say that's a normal progression up and that's the way things work. But if the U.S. dollar suddenly turns into confetti then you better hold your silver at $200. So it depends on the circumstances and the timing more than anything else.
Since 2003, GoldCore have said that gold and silver would reach their inflation adjusted highs of $2,400/oz and $130/oz. Our estimates appear increasingly conservative especially given the fact that the official inflation statistics have been debased over the years and are not an accurate reflection of real inflation.
Predicting the future price of any asset class is impossible. Predicting that gold and silver will continue to protect against financial and economic shocks and crashes and global currency debasement is possible.
The current correction should be used as another buying opportunity in order to protect against the continuing extraordinary degree of macroeconomic, monetary and geopolitical risk in the world.
Toronto Resource Investment Conference September 25-26 Toronto, Metro Convention Centre, North Building Booth 315 Click here to register
Special Report Edition - Critical Milestone
The Wallace Street Journal: Will there be a happy ending for the Sunshine mine?
Resource Clips Interviews with Greg Stewart, CEO and Dr. Larry Dick, Technical Advisor
Equedia May 2010 Silver Report
Midas Letter - United Mining Group Poised For Production in Idaho's Silver Valley
UMG is a US based, profitable, vertically integrated mining company with a full suite of mining services and a world-class silver mine. We are committed to building a senior Silver producing mining company based on an aggressive development and acquisition plan focused in the 2nd largest silver camp in the world - Silver Valley, Idaho.
"Our number one goal is to turn every project into a success story. We take advantage of all our strengths and yours to conquer project complexities. Our mission is to set the standard for the mining services industry." - Greg Stewart, President/CEO
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