U.S. Silver $16.61 per ounce - P&F TI bullish price obj. $26/oz
The Company's mining properties are located in Shoshone County, Idaho, USA, in the "panhandle" of Idaho, along its eastern border with the State of Montana. The Galena Mine and Mill complex is located about one mile south of US Interstate 90, just west of the town of Wallace, Idaho.
The Company's holdings, which comprise approximately 18,000 acres, are a combination of fee land, patented mining claims, unpatented mining claims, and mining leases.
All of the Company's current production, and near term contemplated production, comes from the Company's 100% controlled patented mining claims. Royalty payments based upon net profits or net smelter returns apply to some of the other mining leases owned by the Company. However, U.S. Silver is not currently carrying any reserves or resources on these leases, and no production from these leases is contemplated in the near future. It should be noted that the Company pays no royalties at present and all production for the next several years will come from patented mining claims. Thus, even if the U.S. Congress changes the Mining Law of 1872 and imposes a royalty system on mining claims on federal lands, the Company will be unaffected since our producing claims are patented.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.