US Precious Metals (fka USPR)

[russo123]

Finally. Undeniable proof that we do NOT KNOW that USPR has tens of billions in gold as of now. Not saying they don't have it but right now we don't KNOW they do.

So I put a few trades in before the bell and was just waiting to see what happened. So I figured since nobody would answer my questions, I would look myself. So I spent 5 minutes on USPR's website (www.usprgold.com) and lookie lookie what I found.

Their website has some pretty good info I found in 5 minutes. Anyone that owns this stock needs to go look. Under the mining link on top was some pretty cool info, including a summary of actual, real efforts to prove reserves.

But, under the exploration link is the real truth. Not opinions, but proof. Under exploration, there is a link for the 43-101. So I clicked on it. There's 80 something pages and I had no shot at understanding it so I didn't bother looking at it.

However, underneath the 43-101 is a 2 page supplement that is right up my alley and answers the only question that matters. How do we KNOW, KNOW that USPR has 10's of billions in reserves? Answer from USPR's website, we DON'T!!

The supplement is written by the geologists that USPR hired to do the 43-101. They had access to the site, they took their own samples, they reviewed the drilling from 2008 and 2010. Essentially, these geologists had access to everything. Here's what they said in the supplement.

"Even though insufficient information is available on the La Sabila project to estimate a resource with an
acceptable level of confidence, it is permissible to state a range of tons and grade that has been
determined by the drilling programs and by surface sampling."

"insufficient information". Nuff said.

http://a.eqcdn.com/usprgold/files/pages/exploration/ni-43-101-report/LaSabilaRangesLetterJuly22-revised.pdf?1370966042

The supplement, and the 43-101 were done by Michael Floersch of Applied Minerals and Betty Gibbs of Gibbs Associates. They were hired by USPR and USPR spoke glowingly of Floersch's credentials. Betty Gibbs is a Director at Mining and Metallurgical Society of America.

So, 2 professional geologists hired by USPR, who are what's called "qualified person", viewed the results of the 2008 and 2010 drilling, took their own samples, looked at whatever information USPR had, drafted and presented the 43-101 for USPR and they say that there is insufficient information available to estimate a resource.

So clearly there is no evidence right now that says we KNOW that USPR has Billions?? USPR's own geologists don't know that.

Since this supplement, USPR has made no further statement placing any value on their resources and have not updated their summary page on their website that would indicate they have 10's of billions in gold. So, right now, there's no evidence to suggest that we are CERTAIN that USPR has billions in gold.

I think that sums things up!