Nice article , note the comment from US Silver consultant.
US Silver does seem undervalued at this price of silver.
His comments about the Sunshine show he doesnt know much about the Sunshine. The original Behre Dolbear NI43-101 report in 2007, and the update are both available at SEDAR. In particular :
1. Ore Under Water
Not sure where this comes from. There is ore at 2700 and 3100 levels, and potential from the upper levels that doesnt need the secondary escapeway,i.e. the shaft that evidently collapsed.Prior to the management change in May 2008 Sterling was producing from this area. There is also identified ore also at the 3700 level which may be under water. They can de water to that level relatively easily.
2. EPA Issues
All mines in district have to deal with EPA.
3. Shaft Collapse
Yes ,during the management under Roger Van Voorhees and Jim Meek
the secondary shaft the Silver Summit evidently collapsed.
However at this price of silver certainly a justifiable investment to rehabilitate. There is a question of how long to repair. However the NI43101 report clearly indicates the current owners prefer a lot more exploration before starting production again. So there is time to repair shaft.
Alex is a sharp guy and should do well for US Silver. As always Sunshine though seems to attract urban legends.
