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U.S. Silver & Gold Intersects Wide Zones of Silver Mineralization in Lead Zone at Galena Complex
Date : 11/28/2012 @ 7:00AM
Source : PR Newswire (US)
Stock : US Silver And Gold (USA)
http://ih.advfn.com/p.php?pid=nmona&article=55214212&symbol=USA
USA / USGIF Where Our Security LT Ag & Au TEAM Begins -
http://www.us-silver.com/Investors/Presentations/default.aspx
E.g.,
The New Lead Zone Discovered will be Extra Additional Ore from
the Brownfield Production -
• Global tonnage target of 60-70 million tons and potential silver
resource of 150-200 million ounces
• Re-habilitation completed and drilling commenced in
the 3rd quarter
http://www.us-silver.com/files/US%20Silver%20Gold%20Corp%20Pres%20Nov%2027%20nr_v001_n355u6.pdf
Reducing cash costs in 2013 and beyond -
Higher Grades from Caladay Mine on Target -
Drumlummon Gold & Silver Mine -
• Q3 YTD 2012 production of 16,600 oz Au and 280,000 oz Ag
• Q3 YTD 2012 mill recoveries averaged 91% for Au and 84% for Ag
• 2012 Plan estimates 110,000 tons of ore at 0.25 oz/t Au and 4 oz/t Ag
• Labour and cost reductions being rolled out in Q4, 2012
• Plan in place to process Drumlummon ore in Idaho starting in
early 2013 to achieve
expected processing synergies
• All current required permits in place under small miners
exemption. In process of renewing
appropriate water discharge permit.
• Continued resource expansion and mine life extension success at
Drumlummon Gukd & Silver Mine and
the recently acquired Belmont Gold Mine
• 2012 exploration success at the Frankie Vein, Sampson area of
the Drumlummon Vein, the
New Years Vein and high grade silver veins in the Neenan area
near Bald Butte moly project
Near Term Operating Goals -
Focus 2013 and LOM plan on high-grade profitable
ounces versus arbitrary ounce targets
Increase 2013 productivity at the Galena Complex by
moving to a 24/7 shift schedule
Enact labour cost reductions at the Drumlummon site
and begin processing high gold and silver ore at
Galena Complex in early 2013
Deliver Coeur area re-development ramp-up
Prepare preliminary analysis of the Lead Zone for
future bulk mining development
Assess the Belmont property for mid to late
2013 development
2nd largest primary silver producer in the U.S.
With plenty of Gold as the creme on the Ag cake
Strong operating and market fundamentals
Executing on brownfield expansion opportunities
Disciplined strategy for targeted acquisitions
Large land package with significant organic upside
Experienced management team
Catalysts in place for improved valuation
God Bless
U.S. Silver & Gold Inc. (USGIF) To All Shareholders, please
tell the management
to start a buy back program of USGIF shares or reinstate and continue
the prev. buy back of USGIF's bargain shares
TIA
Contact Us
Corporate Office
1220-145 King Street West
Toronto, ON
M5H 1J8
Tel: 416-848-9503
Galena Mine Complex
P.O. Box 440
1041 Lake Gulch Road
Wallace, ID 83873
Tel: 208-752-1116
Drumlummon Mine
7215 Marysville Road
Canyon Creek, MT 59633
Tel: 406-204-4849
Investor Relations - Canada
Nicole Richard
Tel: 416-848-9503
Investor Relations - U.S.
Heather Bailey
Tel: 208-556-1535 x 1002
Beware: stay out of banksters ETFs -
U.S. SILVER & GOLD INC. MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2012
DATED NOVEMBER 13, 2012
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=94335
Drumlummon Gold Mine, Marysville, MT -
some early mine work and old pictures by prev. contracted out work -
• 2000’ of 13’x15’ decline driven
• 3000’ of 12’x12’ decline driven
• 1500’ of 10’x11’ lateral drifts driven
• 1500’ of ore development drift driven
• Bean holes and timber raises driven on ore
• Shrink stope and long hole stope ore body
• 8+ Diamond Drill stations cut
• Prep, cut, and timber 14’x15’ portal
• Remove and rebed 1100’ of rail.
• Relay ties, 1100’ of rail and ballis
• Re-timber 250’ of 3 compartment shaft
• Dig and install several thousand feet of 6” pipe on surface
• Raise and re-post 50 sets of timber through old workings
• 100+ employees on job
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81485442
U.S. Silver & Gold Inc. (USGIF) A New Company Built For Growth
NOVEMBER 2012
http://www.us-silver.com/files/doc_presentations/Nov%202%202012%20v2%20US%20Silver%20Gold%20Corp%20Pres.pdf
http://investorshub.advfn.com/boards/post_reply.aspx?message_id=80698727
US Silver & Gold Exploration and Corporate Update Lead Zone to Add
Substantial Resources
TORONTO, Oct. 11, 2012 /PRNewswire/ -
U.S. Silver & Gold Inc.
("U.S. Silver & Gold" or the "Company") (TSX:USA; OTCQX:USGIF) is
pleased to provide a comprehensive update on its year-to-date
exploration results and exploration plans for the remainder of
2012 and beyond, as well as an update on other corporate
developments.
The Company's assets are comprised of two 100% owned operating
mines - the high grade gold and silver Drumlummon Mine in Montana
and the high grade silver Galena Mine Complex in Idaho.
Galena Mine Complex
The Lead Zone
Drilling by previous owners identified a large area of lead /
silver mineralization in the Galena Mine Complex.
Recently, the exploration staff at the mine compiled past results and
incorporated recent underground drilling to define a significant
potential resource in what is known as
the Lead Zone ("LZ" previously referred to as the "Caladay Lead Zone").
The LZ is a semi-continuous mineralized zone that extends from the
2400 level to the 5200 level and potentially into
the Caladay Mine at depth.
The zone covers approximately 2,800 vertical feet.
The estimated strike length on the known levels ranges between
1,200 and 3,600 feet and the apparent widths range
between 200 and 400 feet.
The LZ occurs as a large lead-silver (Ag-Pb) zone of disseminated and
stringer-controlled mineralization containing higher grade linear
zones.
Figure 1 located -
Galena Lead Zone shows the drill indicated extent.
Only a small portion of the LZ has been drilled extensively.
In 2012, a drilling program allowed the development of a resource
on the 4000 and 4900 Levels of
approximately 600,000 to 700,000 tons where test mining
will be carried out in the fourth quarter of 2012.
This drilling indicates potential global grades of
3 to 4 ounces per ton (103 to 137 grams per tonne) silver and
3 to 5 percent lead.
All targeted areas contain 1 to 3 continuous zones of higher
grade mineralization, ranging between
5.5 to 10.0 ounces per ton (189 to 343 grams per tonne) silver and
5 to 11 percent lead, surrounded by lower grade material.
High grade zones represent 30 to 40 percent of the total global
tonnage with continuous widths ranging between 15 and 30 feet.
Between these zones are lower grade areas, 60 to 80 feet wide with
grades of approximately 1 to 3 ounces per ton (34 to 103 grams
per tonne) silver and 1 to 4 percent lead.
Drilling to date by others (principally ASARCO Incorporated) and recently by
U.S. Silver & Gold has led to a global tonnage target for the LZ
of between 60 to 70 million tons and a potential global resource
of between 150 to 200 million ounces of silver.
"The Galena Mine Complex has been in production for almost
60 years, and ore continues to be found year after year.
Exploration has consistently exceeded annual production and we
expect this will be the case in 2012 with resources growing once
again extending the life of the Complex," stated
Darren Blasutti, President and CEO of U.S. Silver & Gold.
"Recent drilling results in the Lead Zone are particularly
noteworthy.
Based on what we've seen, this area has the potential to redefine
the Galena Complex as we become more comfortable in our ability
to use lower cost bulk mining methods in exploiting this deposit."
The results of some significant intersections in the LZ are
presented in Table 1 below. These intersections indicate two
zones approximately 25 feet apart
averaging 13.4 feet of 8.63 ounces per ton (296 grams per tonne)
silver and 3.38 percent lead, and
77.3 feet of 6.76 ounces per ton (232 grams per tonne) silver and
10.92 percent lead.
There are zones of higher grade silver within the broader
mineralized zones.
Table 1
Lead Zone - Representative Drill Intersections
From To Width (ft) Ag (oz/t) Cu (%) Pb (%)
218.60 220.00 1.40 27.50 1.10 10.74
220.00 223.00 3.00 2.07 .03 1.77
223.00 226.50 3.50 7.63 .16 2.99
226.50 229.80 3.30 3.51 .07 1.04
229.80 232.00 2.20 1.62 .05 .37
257.10 261.70 4.60 6.30 .25 2.57
261.70 265.50 3.80 2.21 .01 2.92
265.50 269.00 3.50 2.28 .01 2.88
269.00 273.00 4.00 2.95 .01 3.92
273.00 275.80 2.80 5.08 .01 8.93
275.80 278.50 2.70 18.40 .01 34.48
278.50 280.00 1.50 6.67 .01 12.77
280.00 282.80 2.80 24.50 .04 42.92
282.80 285.00 2.20 1.39 .01 2.60
285.00 289.00 4.00 1.59 .01 2.20
289.00 293.00 4.00 3.03 .04 4.02
To convert ounces per ton to grams per tonne multiply by
34.286.
Note: Since these drill holes were completed from different drill
stations and intersect the veins at various angles the recovered
intersections may not reflect true widths.
Please refer to www.us-silver.com for additional drilling results on
the Lead Zone.
The drill program for 2013 will focus on the area between the 4600 and
5200 levels, which has the potential to add between 10 million and
15 million ounces of silver to the mine's resources next year.
Silver Vein and 350-370 Vein
The majority of expected silver production from
the Galena Mine Complex is currently being sourced from
the Silver Vein.
Drilling during 2012 has extended several of the known higher
grade veins including the prolific Silver Vein.
The Silver Vein and the 350-370 Vein have yielded high grade
intersections suggesting veins extend at depth and in areas close
to existing workings available to develop additional resources in
the near term.
Two newly identified veins are thought to be splays off one of
the existing veins and could be exploitable in the near future.
Examples of recent drill intersections can be found in Table 2 below.
Table 2
Silver Vein and 350-370 Vein
Hole # From To Width (ft) Ag (oz/t) Cu (%) Pb (%) Description
DH52-379 81.4 84.4 3.0 2.18 0.05
84.4 86.0 1.6 25.20 0.41 4.6ft at 9.52 oz/t Ag
209.0 210.3 1.3 112.60 1.93 0.26 4th Vein
210.3 213.0 2.7 3.39 0.07 4.0ft at 38.9 oz/t Ag
225.8 226.8 1.0 35.80 0.58
226.8 230.5 3.7 1.29 0.02 4.7ft at 8.63 oz/t Ag
233.9 236.4 2.5 25.00 0.36 0.11
DH52-380 170.9 172.0 1.1 104.40 1.87 0.13 4th Vein
172.0 174.0 2.0 0.61 0.01 0.10 3.1ft at 37.4 oz/t Ag
199.7 201.9 2.2 0.92 0.01 0.10
201.9 203.0 1.1 42.40 0.55 0.59
203.0 206.3 3.3 7.66 0.08 0.23 6.6ft at 11.43 oz/t Ag
DH52-381 0.0 3.5 3.5 9.96 0.21
3.5 8.0 4.5 10.70 0.18
8.0 12.5 4.5 7.58 0.15 12.5ft at 9.36 oz/t Ag
70.0 73.1 3.1 1.62 0.02
73.1 74.2 1.1 283.20 4.23 New Veins
74.2 77.2 3.0 1.52 0.02 7.2ft at 44.59 oz/t Ag
135.8 136.4 0.6 117.40 1.93 0.6ft at 117.4 oz/t Ag
158.5 162.3 3.8 8.50 0.14 3rd Vein
162.3 165.6 3.3 15.80 0.24
165.6 169.0 3.4 21.40 0.35
169.0 172.2 3.2 12.90 0.25 13.7ft at 14.07 oz/t Ag
262.5 263.6 1.1 25.70 0.58
319.5 321.5 2.0 14.40 0.25
506.5 508.2 1.7 88.00 2.5
DH52-382 84.0 85.0 1.0 35.80 0.71 4th Vein
85.0 86.0 1.0 1.22 0.02 2.0ft at 18.51 oz/t Ag
196.0 197.0 1.0 45.40 0.69
197.0 198.0 1.0 1.47 0.02 2.0ftat 23.45 oz/t Ag
211.0 212.0 1.0 1.85 0.02
212.0 214.0 2.0 99.00 1.20 5th Vein
214.0 215.0 1.0 2.33 0.03 4.0ft at 50.5 oz/t Ag
DH52-382Z 13.6 14.4 0.8 10.20 0.20 0.10 350 Vein Delineation
103.0 104.0 1.0 7.49 0.08 6.06
To convert ounces per ton to grams per tonne multiply by 34.286.
Note: Since these drill holes were completed from different drill stations and intersect the veins
at various angles the recovered intersections may not reflect true widths. Please refer to
www.us-silver.com for additional drilling results on the Silver Vein and 350-370 Vein.
Coeur Mine
Resource definition drilling resumed late in the third quarter in the Coeur Mine from the 3100 Level. To date, approximately 3,000 feet of drilling has been completed. These results will be included in the next exploration release. The program is targeting to expand the existing 3.3 million ounces of silver resource to a target of 6 million ounces by the end of 20131.
Drumlummon Mine
Frankie Vein
The Frankie Vein System was discovered during a surface drilling program in the spring of 2012. In September, an incline was driven from the Drumlummon decline into the Frankie Vein establishing an underground drilling station to explore the veins discovered through surface drilling. This incline exposed the Frankie Veins in the face of the drift. Analysis of face samples in Drill Station 22 averaged 0.816 ounces per ton (28 grams per tonne) gold and 75.23 ounces per ton (2,579 grams per tonne) silver. It should be noted that samples were collected along the strike of the vein not perpendicular to the vein. Therefore they do not represent the true width which varies between 1.4 and 8 feet across the exposure. See Figure 2 - Frankie Section.
The vein at this position is a quartz-calcite-adularia crustiform vein including amethyst and colloform banding with sulfides. Sulfides are locally abundant. See Table 3 below for recent Frankie Vein Intersection Drilling Highlights. The Frankie Vein system is expected transition to production in early 2013.
__________________________________________________________________________________________________________________________________________
1 Note that potential quantities and grades disclosed in this news release are conceptual in nature and there has been insufficient exploration to define a mineral resource on the all of the targets in the Galena Mine Complex. It is uncertain if further exploration will result in all of the targets in the Galena Mine Complex being delineated as a mineral resource.
Table 3
Frankie Vein - Intersection Drilling Highlights
Drill Hole From To Width (ft) Au (oz/t) Ag (oz/t) Level
DDH12-619 338 350 12 0.322 56.19 600
324 338 14 0.280 2.41
324 350 26 0.299 27.23
DDH-12-614 116 126 10 0.116 4.73 600
DDH-12-617 27 28 1 0.286 15.64 600
73 75 2 0.322 2.09
96 98 2 0.164 3.93
108 110 2 0.262 11.91
120 121 1 0.676 19.30
129 133 4 0.421 15.90
159 163 4 0.357 0.39
DDH-12-632 180 182 2 0.156 0.25 720
DDH-12-633 32 34 2 0.302 0.40 600
DDH-12-633 214 216 2 0.330 0.81 600
DDH-12-633 306 309 1 0.668 12.05 590
DDH-12-633 307 309 2 0.144 0.20
306 309 3 0.317 4.15
DDH-12-633 408 410 2 0.108 1.99 580
DDH-12-634 193 194 1 0.676 2.28 670
DDH-12-634 195 197 2 1.790 2.03
193 197 4 1.064 1.59
DDH-12-634 332 334 2 0.212 0.59 720
DDH-12-640 194 196 2 0.174 0.37 510
DDH-12-641 235 237 2 0.022 1.06 540
DDH-12-644 107 109 2 0.094 3.27 580
DDH-12-645 91 93 2 0.116 1.34 580
DDH-12-647 192 194 2 0.392 25.05 580
DDH-12-649 44 54 10 0.523 41.8 570
DDH-12-649 112 122 10 0.198 0.14 660
DDH-12-651 19 49 30 0.252 4.42 550
DDH-12-662 197 199 2 0.296 0.45 750
To convert ounces per ton to grams per tonne multiply by 34.286.
Note: Since these drill holes were completed from different drill stations
and intersect the veins at various angles the recovered intersections
may not reflect true widths. Please refer to www.us-silver.com for
additional drilling results on the Frankie Vein.
Deep Drumlummon
Drilling on the 400 Level in the old workings continues to identify potential mineralization in the deeper parts of the Drumlummon Mine. The existing mineralized zones, previously mined in the Jubilee #2 South and Sampson areas, have been extended below the 700 Level. In the area between the # 1 and # 2 shafts, new mineralized material has been intersected below the 600 level (See Figure 3 - Drumlummon Long Section).
Two narrow potential high grade veins, which are apparent splays off the Charlie and Drumlummon Veins, have also been intersected and are being explored. These are the New Year Vein (splay off the Charlie Vein) and the St. Louis Vein (splay off the Drumlummon). Historically, the St Louis Vein was mined further to the south of the existing workings. The New Year and St. Louis Veins, and the Pixley area are sufficiently near existing infrastructure to allow for immediate mining. However accessing the South Drumlummon area will require additional development. Parts of the South Drumlumon area could be available for mining in 2013. See Table 4 below for recent drilling highlights from the Drumlummon Mine.
Table 4
Recent Drilling Highlights - Drumlummon Mine
Target Hole # From To Width (ft) Au (oz/t) Ag (oz/t)
New Year DDH-12-592 87 91 4 0.258 0.230
DDH-12-599 181 183 2 0.786 3.354
DDH-12-599 208 210 2 0.608 0.432
DDH-12-601 264 270 6 0.504 2.340
South Drumlummon DDH-12-608 294 302 8 0.39 1.160
DDH-12-608 308 314 6 0.59 1.190
CP-12-061 79 83 4 0.803 0.56
CP-12-070 66 70 4 0.332 0.16
St Louis CP-12-072 81 85 4 0.484 0.36
CP-12-072 129 135 6 0.206 0.27
CP-12-077 52 60 8 0.635 0.74
Pixley CP-12-077 62 68 6 0.263 0.23
CP-12-084 81 87 6 0.293 0.66
CP-12-084 107 111 4 1.140 3.92
CP-12-086 39 41 2 1.090 11.96
To convert ounces per ton to grams per tonne multiply by 34.286.
Note: Since these drill holes were completed from different drill stations and
intersect the veins at various angles the recovered intersections may not reflect
true widths. Please refer to www.us-silver.com for additional drilling results on the
Drumlummon Mine.
North Star Vein
Previous drilling in the Northstar Vein (See December 11, 2011 RX Gold & Silver press release) indicated there are potential mineralized shoots in this system. See Figure 4 - North Star Vein Long Section. An underground drilling program is in progress which will seek to define and expand the known mineralization. Three drill holes have been completed and while all show intersected quartz veins and breccia with varying sulphide content, assays have not yet been completed.
Belmont Mine
The Belmont property, located approximately one mile west of the Drumlummon mine, was purchased in 2012. The property was mined from the late 1800s through the early 1900s and is reported to have produced 500,000 tons at an average grade close to one ounce per ton (34 grams per tonne) from two main veins: the Belmont and Bald Mountain.
More recently, it was explored by AMEX and Gulf Titanium ("the previous owners") from 1982 to 1991 and non-NI 43-101 compliant mine reserves of 77,000 tons of 0.59 ounce per ton (20 grams per tonne) silver were reported, along with additional resources of 170,000 tons of similar grade (See Figure 5 - Belmont Long Section). They conducted mining operations using a decline developed to the 750 Level and there is a reported 7,000 tons of broken material remaining within the mine.
The previous owners discovered two new mineralized shoots below the stopes of the Bald Mountain Vein and "blind" splays or parallel veins in the hanging wall of the known structure. Calculations using historical drill-hole results from Gulf Titanium, indicate additional potential for over 50,000 (non-43-101 compliant) tons at an average grade of 0.56 ounces per ton (19 grams per tonne) silver.
Please note that a qualified person has not done sufficient work to classify this historical estimate as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves.
Geological mapping, data compilation and sampling during the past field season confirmed the presence of a minimum of eight veins on the property. A surface drilling program is planned for the fourth quarter of 2012 to test the more significant veins by "twinning" some of the existing drill holes from locations on the surface to confirm the presence of the known mineralization and test for other veins indicated by previous drilling in the hanging wall of the structure. A second phase of drilling will attempt to expand the known mineralized zones and will be completed in 2013.
QA/QC
US Silver & Gold maintains a QA/QC Program for all assays, whether completed at the Drumlummon laboratory or at a contract laboratory including the use of standards, blanks, duplicates. All QA/QC results are evaluated using a program of QA/QC monitoring. Both the contract laboratory and the internal laboratory maintain programs of QA/QC as well.
Corporate Update
Vice President, Technical Services
Daren Dell has joined U.S. Silver & Gold in the newly-created position of Vice President, Technical Services. Mr. Dell brings over 20 years of experience to this role gained at Barrick Gold and precursor companies. While at Barrick he was Director, Corporate Development and prior to that, Director, Technical Evaluations. Before joining Barrick, Mr. Dell was at Placer Dome for over 15 years where he held various positions of increasing responsibility.
"I am extremely pleased to have Daren join our team," said U.S. Silver & Gold President and CEO Darren Blasutti. "The extensive knowledge that Daren has gained from evaluating mining assets around the globe will be of significant benefit to our operational and strategic plans moving forward. He not only brings solid technical skills to this role, he is also very strong at building and nurturing the kinds of relationships that will help successfully complete organic growth projects and acquisitions. With growth as our focus, he will be a tremendous asset."
Mr. Dell will work with the CEO on external opportunities and with the Chief Operating Officer at the Drumlummon and Galena Mines assisting with operations and organic projects while also providing support as the Company expands mine operations.
About U.S. Silver & Gold Inc.
U.S. Silver & Gold Inc.
is a newly formed silver and gold mining company focused on growth from its existing asset base and the execution of targeted accretive acquisitions.
U.S. Silver & Gold owns and operates the Galena Mine Complex in
the heart of the Silver Valley/Coeur d'Alene Mining District,
Shoshone County, Idaho and the Drumlummon Mine Complex in Lewis
and Clark County, Montana.
Within the Galena Mine Complex, the Galena mine produces high-
grade silver and is the second most prolific silver mine in U.S.
history, delivering over 200 million ounces to date, the Coeur
mine is under re-development with production expected in late
2012 and the Lead Zone is being evaluated for bulk mining
development.
The Drumlummon mine currently produces high-grade gold and silver
with historical production of
1 million ounces of gold and
12 million ounces of silver and has never been fully exploited or
explored.
Visit
http://www.us-silver.com
Mr. Jim Atkinson, Vice President, Exploration and a Qualified Person under Canadian Securities Administrators guidelines has approved the contents of this news release.
Some of the potential quantities and grades disclosed in this news
release are conceptual in nature.
At the current stage of exploration, there is insufficient
drilling to determine the extent of continuity of the
mineralization required to define a mineral resource for all
mineralization at the Galena Mine Complex and Drumlummon Mine.
It is uncertain if further exploration will result in certain
exploration targets being delineated as a mineral resource.
Please see SEDAR or www.us-silver.com for the 43-101 compliant Technical Report and Resource Estimate on the Drumlummon Mine Project dated April 9, 2012 and the Galena Project dated March 19, 2012.
Cautionary Statement Regarding Forward Looking Information:
This news release contains "forward-looking information" ----
future events or other such factors which affect this
information, except as required by law.
SOURCE
U.S. Silver & Gold Inc.
Image with caption: "Figure 1 - Galena Lead Zone (CNW Group/U.S. Silver & Gold Inc.)". Image available at:
Image with caption: "Figure 2 - Frankie Section (CNW Group/U.S. Silver & Gold Inc.)". Image available at:
Image with caption: "Figure 3 - Drumlummon Vein Long Section (Looking Northwest) (CNW Group/U.S. Silver & Gold Inc.)". Image available at:
Image with caption: " Figure 4 - North Star Vein Long Section (Looking North) (CNW Group/U.S. Silver & Gold Inc.)". Image available at:
Image with caption: "Figure 5 - Belmont Long Section (CNW Group/U.S. Silver & Gold Inc.)". Image available at:
http://tmx.quotemedia.com/article.php?newsid=54947428&qm_symbol=USA
US Silver and Gold, Inc. @ The Silver Summit 10th Anniversary : Spokane
Friday October 26, 2012
1:30 SPEAKING HALL by US Silver and Gold, Inc.
CORPORATE PRESENTATION
http://cambridgehouse.com/event/silver-summit-10th-anniversary
Upcoming Conferences
The Silver Summit 10th Anniversary
Thu Oct 25, 2012
Vancouver Resource Investment Conference 2013
Sun Jan 20, 2013
USGIF Chart TA Alert AgBull Golden Cross -
USGIF Target#1 Bull ride back to fiat$6.50
USA / USGIF Gold is Good Money, But Our Fiat Currency is Not -
USGIF / USA is Golden LT Trend -
management performance often repeat itself -
Ride along USA Golden LT TEAM
U.S. Silver & Gold Inc. (USA:TSE) often has much higher volume
than (USGIF)
higher volume in Canada with less than 10% of the People
vs. US -
buyers may want to gain 2 ways play -
on the CAN$ + U.S. Silver value
Note.
TI Bollinger bands alert tighter -
sharp moves tend to occur
after the bands tighten to the average
A move outside the TI Bollinger bands calls for a
continuation of the trend
and NOT an end to it -
http://www.us-silver.com/Investors/Presentations/default.aspx
The Fed is now starting its permanent and unlimited QE3
guaranteeing a hyperinflationary depression.
QE1, QE2 and operation Twist have not helped.
Nor have Zero interest rates.
So the fed is lending and creating unlimited amounts of
paper fiatmone and providing it at no cost -
still the economy cannot recover without a GOLD STANDARD.
But a system with free and unlimited amounts of paper fiatmone
can never work and this is why the USA and
the whole world are in an irreparable situation -
Stay Long @ USA / USGIF LT TEAM
God Bless
U.S. Silver & Gold Inc. (USA:TSE) often has much higher volume
than (USGIF)
higher volume in Canada with less than 10% of the People
vs. US -
buyers may want to gain 2 ways play -
on the CAN$ + U.S. Silver value
Note.
TI Bollinger bands alert tighter -
sharp moves tend to occur
after the bands tighten to the average
God Bless
USA / USGIF $SILVER - Spot Price TA Alert ST AgBull Start BreakOut Run -
USA / USGIF $SILVER - Spot Price TA Alert LT AgBull Start BreakOut Run -
USA / USGIF $GOLD - Spot Price TA Alert ST AuBull Start BreakOut Run -
USA / USGIF $GOLD - Spot Price TA Alert LT AuBull Start BreakOut Run -
USGIF $COPPER - Spot Price TA Alert ST CuBull Start BreakOut Run -
USA / USGIF $COPPER - Spot Price TA Alert LT CuBull Start
BreakOut Run -
$2.61 ask...The spread is so large though!! Come on MM's and tighten the spread! No one wants to sell at these levels.
Management truly believes we have a $500-$600M company here...
If that's the case we are an $8-$10.00 stock...
USA / USGIF Where Our Security LT TEAM Begins -
http://www.us-silver.com/Investors/Presentations/default.aspx
$8,000/oz Silver and ONE BANK!
http://www.roadtoroota.com/public/94.cfm
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79620207
God Bless
Darren Buying GO U.S. Silver & Gold I (USGIF) fiat$2.281 UP $0.0235 +1.04%
Volume: 38,556 @ 3:59:59 PM ET Ag Demand
Bid Ask Day's Range
2.23 2.34 2.21 - 2.302
USGIF Detailed Quote Wiki
Aug 31/12 Aug 30/12 Blasutti, Darren John
BUYING for himself !
http://www.canadianinsider.com/node/7?menu_tickersearch=USA+%7C+U.S.+Silver+%26+Gold
GO DARREN GO you got what it takes
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79123825
Billioner Eric Sprott
Major Shareholder U.S. Silver & Gold Inc.
[Part 1] - Sprott Money News
Pro-Life on 'U.S. Silver & Gold Inc. (USA
thank you,
$Silver Index AgBull did go from about 15 - 50 and
correction to 27 its a normal fib. correction which has
taken a lot of Silver profit away from us by lower earnings -
currently the AgBull Alert us about next obj. 58 target
Note. fib. Fibonacci Price Levels -
frequent reaction trends about 62% of prior trend -
and the new trends often will be 162% of the previous
correction -
$SILVER Chart P&F TA Alert AgBull Price Objective $58.0 per ounce
to ride the AgBull famous for its high volatility -
USGIF management has done well in comparison to many other -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79123825
God Bless
Nice recap... this is going like a dream so far!!!
GO DARREN GO you got what it takes -
GO don't be shy follow in Peter's tracks -
well, Drumlummon reminds me of Renabie -
it was like yesterday and when Peter
took over - about the first gold operation -
Renabie Gold Mine - short history -
The Barrick's first acquisition was
the Renabie Gold Mine, near Wawa, Ontario,
Peter got it
which produced around 16,000 ounces of gold in 1984.
In 1984, Barrick Gold acquired Camflo Mining, which had
operations in the province of Quebec and
in the U.S. state of Nevada.
Barrick’s effort to purchase was slowed by skepticism the
company could assume Camflo’s debt of around $100 million.
The sale was finalized in May, 1984, with terms that obligated
Barrick Gold to repay the debt to The Royal Bank of Canada
within one year. The debt was fully paid in January, 1985.
Barrick Resources acquisition was Mercur mine in Mercur, Utah
in June 1985, followed by the Gold Strike Mine, Nevada in 1986.
Gold Strike Mine is in Carlin trend, estimated producing 100
million ounces of gold. -
the rest is history -
GOLD AND SILVER
history often repeat itself -
I was confident in Peter and still enjoy it -
GO Darren you got it -
its a lot of great GOLD bargains to be picked up -
the right place @ the right time
DARREN BLASUTTI
President & CEO, Director
Mr. Blasutti was formerly Senior Vice President of Corporate
Development for Barrick Gold Corporation.
(Barrick = the largest Gold Mining Corporation in the world)
He reported to the Chief Executive Officer and played a lead
role in the strategic development of Barrick for over 13 years,
during which time he executed over 25 gold mining transactions.
Mr. Blasutti is a member of the Canadian Institute of Chartered
Accountants and is a director of Noront Resources Ltd.
The Drumlummon Gold & Silver Mine is a "bonanza" style -
The Drumlummon Gold & Silver Mine is a "bonanza" style
epithermal deposit which is characterized
by very high grade gold and silver.
Drumlummon is a high grade narrow vein gold and silver underground
mine with extensive infrastructure.
http://www.us-silver.com/Operations/Drumlummon/default.aspx
http://www.us-silver.com/Theme/USSilver/files/US%20Silver%20Gold%20Corp%20Pres%20Aug%2027%202012.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79051883
U. S. SILVER Alert - Investors have nowhere left to hide and will start running to silver and gold: Sprott
http://www.mining.com/bondholders-heading-to-gold-since-they-have-no-where-left-to-run-sprott-66084/?utm_source=digest-en-au-120823&utm_medium=email&utm_campaign=digest
http://www.us-silver.com/Operations/Photo-Gallery/default.aspx
God Bless
The Drumlummon Gold & Silver Mine is a "bonanza" style -
The Drumlummon Gold & Silver Mine is a "bonanza" style
epithermal deposit which is characterized
by very high grade gold and silver.
Drumlummon is a high grade narrow vein gold and silver underground
mine with extensive infrastructure.
http://www.us-silver.com/Operations/Drumlummon/default.aspx
http://www.us-silver.com/Theme/USSilver/files/US%20Silver%20Gold%20Corp%20Pres%20Aug%2027%202012.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79051883
http://www.us-silver.com/Operations/Photo-Gallery/default.aspx
God Bless
U. S. SILVER Alert LT Ag-BullRun UP Starting -
Silver Spot 8hr Chart...
100ma heading for the 200ma
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78780868
Gold to Rally Above $1,900 by End 2012: HSBC
Sunday, August 5, 2012 At 11:09PM
Gold could be one of the few assets to profit from the political and
economic turbulence in the United States as
the “fiscal cliff” approaches,
potentially creating a rally in the precious metal later
in 2012 for it to reach $1,900 per ounce
by the end of the year,
analysts at HSBC said.
“Economic uncertainty, geopolitical tensions and
the uncertainty of the U.S. November elections
are theoretically gold-bullish,” and gold should
perform better later in the year
“when U.S. growth is poor and the dollar is weak,”
a new HSBC report said.
“We expect prices to rally to above $1,900/oz by the end
of the year.
Patience is the most important commodity.”
HSBC recommends holding onto gold as an asset that will gain in
value as investors fear the future of the euro and dollar with
governments and central banks expected to intervene to shore up
their currencies’ strength.
Note. HSBC Group is one of the world’s largest banking and
financial services organizations. -
http://www.us.hsbc.com/1/2/home/personal-banking
vs.
compare it to fed JPM king pin -
http://thepeoplescube.com/peoples-blog/obama-s-america-stories-of-hope-t5780.html
Rothschild/Hitler super red puppets -
ussr khazar/bolsheviks copycatz -
99.666% against the PEOPLE -
http://www.newsfollowup.com/rothschild_libor_fraud_scandal_pilgrim_society_agius_chicago_obama.htm
Lew Rockwell ~ Gov't is Far Worse Than The Mafia
Harry Reid has promised that there will not be a vote in the
Senate for 'Audit the Fed', despite his past support for an
audit in 1995.
Contact Harry Reid now, and tell him to AUDIT THE
FED: 202-224-3542.
In addition call your senators and tell them
to vote to Audit The Fed!
The Truth you are not supposed to know -
ex....
God Bless
USA - NEW : Website & Presenation -
U.S. Silver and Gold Corporate Presentation -
http://www.us-silver.com/Theme/USSilver/files/doc_presentations/US%20Silver%20&%20Gold.pdf
http://www.us-silver.com/
http://www.us-silver.com/Operations/Drumlummon/default.aspx
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78534089
USA Dayrock Silver-Lead Mine and Mill -
TORONTO, ONTARIO - July 10, 2007 -
U.S. Silver Corporation
(TSX VENTURE:USA), is pleased to announce the acquisition of
the historic -
Dayrock Lead-Silver Mine and Mill facility located
about 3 1/2 miles northeast of the Company's
Galena Mining Complex in the Silver Valley of North Idaho.
The Dayrock operated intermittently from
1924 until 1977 having produced
6,500,000 ounces of silver and
155 million pounds of lead
Mill production 450 tons per day -
11 oz per ton = 1.2 million oz.
The total tonnage milled was 1,276,488 tons
Ag 11 oz/t x 450 t/d x 300 days = Ag 1,485,000 oz Silver/year -
+ + future expansion etc.
Or-e..Au..ore..
USA **** GOLD **** GOLD **** 888 **** GOLD **** GOLD
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78532470
God Bless
ATT. ALL LT Team Shareholders should Demand
a Strong 888 Buy Back
Share Program Be Kept on the USA Priority Agenda !
http://shortsqueeze.com/?symbol=ussif&submit=Short+Quote%99
we don't want to follow -
ex. HL into the 666 hole -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78510276
management performance often repeat itself -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78494535
God Bless
U.S. Silver and RX Gold & Silver announce closing of combination transaction
CONFERENCE CALL AT 4:00 PM ET TODAY
http://tmx.quotemedia.com/article.php?newsid=53493142&qm_symbol=USA
Q1 2012 Conference Call
http://www.us-silver.com/Theme/USSilver/files/USA%20Q1%202012%20Conference%20Call%20Audio%20File.mp3
TORONTO, Aug. 13, 2012 /CNW/ -
U.S. Silver Corporation
(TSX: USA) ("U.S. Silver") and
RX Gold & Silver Inc.
(TSX-V: RXE) ("RX Gold") are pleased to announce that the combination of
U.S. Silver and RX Gold to create
U.S. Silver & Gold Inc.
(the "Combined Company") closed today.
Each outstanding common share of U.S. Silver has been exchanged
for 0.67 of a common share of the Combined Company and each
outstanding common share of RX Gold has been exchanged for
0.109 of a common share of the Combined Company.
Darren Blasutti, President & Chief Executive Officer of the
Combined Company stated,
"We are delighted to have reached this important first
milestone in creating a growing precious metals company.
With two producing properties, numerous opportunities for growth
and an experienced team that can deliver in this sector,
I am excited and confident in the future of our new company."
It is anticipated that the common shares of the Combined Company
will commence trading on the TSX under the stock symbol
"USA" on or after Wednesday, August 15, 2012.
Until such time, only the right to receive the share
consideration under the transaction at the applicable exchange
ratio can be traded. Once the substitutional listing of the
Combined Company is effective,
the U.S. Silver shares will be delisted from the TSX and
the RX Gold shares will be delisted from the TSX-V.
The warrants of U.S. Silver will continue to be securities of
U.S. Silver but will be exercisable for shares of the Combined
Company based on the applicable exchange ratio.
The warrants of U.S. Silver will continue to be listed on the
TSX but will be posted for trading under the stock symbol
"USL.WT".
For shareholders who held their U.S. Silver or RX Gold shares
through a broker, the delivery of the share consideration under
the transaction at the applicable exchange ratio will be
processed through their broker.
For shareholders who held their U.S. Silver or RX Gold shares
in registered form, the share consideration will be processed
after they deposit their share certificates with Equity
Financial Trust Company, the depositary for the transaction,
in accordance with the instructions in the applicable Letter of
Transmittal previously sent.
Any questions regarding delivery of the share consideration,
including any request for another form of Letter of
Transmittal, should be directed to your broker, if applicable,
or the depositary via
telephone at 1 (866) 393-4891 (toll free in North America) or
(416) 361-0152 or via
email at corporateactions@equityfinancialtrust.com.
The Combined Company intends to apply to the relevant securities
regulatory authorities so that RX Gold can cease to be a
reporting issuer in the applicable jurisdictions, and
U.S. Silver can obtain an appropriate exemption that allows it
to rely on the disclosure record of the Combined Company.
Conference Call
U.S. Silver & Gold's senior management team will host a
conference call today at 4:00 pm ET to discuss the future
direction of the Combined Company including operating and
strategic objectives.
All interested parties are invited to participate by dialing
647-427-7450 or 1-888-231-8191.
Please dial in 15 minutes prior to the call to secure a line.
You will be put on hold until the conference call begins.
A question and answer session will follow the conference call,
at which time the operator will provide instructions for
submitting questions.
A taped replay of the conference call will be available until
August 27, 2012 by calling 416-849-0833 or 1-855-859-2056,
reference number 16744817.
A live audio webcast of the conference call will be available at
http://www.us-silver.com
and www.newswire.ca.
Please connect at least 15 minutes prior to the conference call
to ensure adequate time for any software download that may be
required to join the webcast.
An archived replay of the webcast will be available for 90 days.
About U.S. Silver Corporation
U.S. Silver, through its wholly-owned subsidiaries, owns and/or operates the Galena, Coeur, Caladay and Dayrock silver-lead-copper mines in Shoshone County, Idaho, with the Galena mine being the second most prolific silver mine in U.S. history. Total silver production from U.S. Silver's mining complex has exceeded 217 million ounces of silver production since 1953. U.S. Silver controls a land package now totaling approximately 14,000 acres in the heart of the Coeur d'Alene Mining District. U.S. Silver is focused on expanding the production from existing operations as well as exploring and developing its extensive Silver Valley holdings in the Coeur d'Alene Mining District.
About RX Gold & Silver Inc.
RX Gold is a gold and silver mining company focused on growth in North America. Currently RX Gold is concentrating on continuing mining under its current permits and expanding development at its 100%-owned Drumlummon Mine. The Drumlummon Mine is a bonanza style low sulphidation epithermal gold and silver deposit with historic production of approximately one million ounces of gold equivalent. The mine has never been fully exploited or explored and material that was once considered waste is now potentially economic. In addition, RX Gold has discovered a series of entirely new high-grade gold and silver veins that remain open for expansion in three directions.
Forward-Looking Statements
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks, assumptions and uncertainties that are difficult to predict and the risk that trading in the shares of the Combined Company will not commence on the anticipated date. Actual results might differ materially from results suggested in any forward-looking statements. U.S. Silver & Gold and the Combined Company assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to U.S. Silver & Gold or the Combined Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: RX Gold & Silver Inc.
U.S. Silver & Gold Inc.
Darren Blasutti
President & Chief Executive Officer
(416) 848-9503
E-mail: inbox@rxgold.com
http://www.us-silver.com/Theme/USSilver/files/doc_presentations/US%20Silver%20Gold-PTT-v12.pdf
USA Chart P&F TA Alert Bullish Price Objective $2.83 per share -
http://www.us-silver.com/Theme/USSilver/files/USA_RX_Merger_FAQ_FINAL.pdf
Ex..re-cap....
Silver Guru Eric Sprott owns 14% of US-Silver (USSIF) -
Recommends Merger with Gold Co.
Submitted by Bullion Nation on Mon, 06/11/2012 - 05:56 MINING STOCKS
This news may have been under the radar for many silver and
gold bugs.
The companies, U.S. Silver and RX Gold & Silver announced a
proposed business merger to create a growth-oriented U.S. based
precious metals producer.
Now the headline may not seem like much, but this statement
really caught my attention:
"In addition, Sprott Asset Management LP ("Sprott") has signed
a lock-up agreement supporting the Transaction
HL The announcements were made in conjunction with the
release of Hecla’s earnings report for the second quarter.
Hecla listed net income of $2.4 million, or a penny a share,
down from $33.2 million, or 12 cents a share,
in the same period a year ago.
Factors behind the decline included temporary suspension
of mining at Lucky Friday, $6.5 million in suspension-related
costs, lower grades at the Greens Creek Mine in Alaska, and
lower silver and base metals prices than the same period
a year ago.
No production from Lucky Friday is expected this year after
the federal Mine Safety and Health Administration ordered
the Silver Shaft to be closed for removal of built-up sand and
concrete material.
The shaft is the primary access to Lucky Friday.
This also disrupted other significant activities at the mine,
including construction of the No. 4 Shaft.
“The current rehab work at Lucky Friday has exceeded our
expectations and has been completed through the important
4,900-foot level,” said Hecla’s President and Chief Executive
Officer, Phillips S. Baker Jr., during a conference call
in conjunction with the earnings report.
http://www.forbes.com/sites/kitconews/2012/08/07/hecla-lucky-friday-rehabilitation-ahead-of-schedule-to-withdraw-offer-for-u-s-silver/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78285289
http://www.us-silver.com/Theme/USSilver/files/USA_RX_Merger_FAQ_FINAL.pdf
When we hand Peoples lifes over -
make sure it comes into good hands -
TIA
The Mine Safety Health Administration is blaming managers
for not preventing an underground avalanche that killed
a contract worker at the Lucky Friday mine.
KXLY4's Jeff Humphrey reports.
ISS Proxy Advisory Services and Glass Lewis & Co. recommend U.S. Silver shareholders vote for combination transaction with RX...
Date : 08/01/2012 @ 8:49AM
Source : PR Newswire
Stock : US Silver Corporation (USA)
http://ih.advfn.com/p.php?pid=nmona&article=53671503
Heating up a bit... yesterday from Hecla:
http://ih.advfn.com/p.php?pid=nmona&article=53658727
USA value to potential buy outs and even other mergers
should at least reflect the higher price within the last year -
or its a total give away robbery of USSIF shareholders -
USSIF has been much higher valued before and owned less etc.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78055853
God Bless
USSIF value to potential buy outs and even other mergers
should at least reflect the higher price within the last year -
or its a total give away robbery of USSIF shareholders -
USSIF has been much higher valued before and owned less etc.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78055853
God Bless
Bill Murphy’s London Source: “Silver & Gold Will GO NUTS in August!”
http://www.silverdoctors.com/bill-murphys-london-source-big-big-gold-silver-moves-coming-in-august/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78004888
Thanks but NO thanks.
Bid is up to $1.91
Go USSIF!
USA TA P&F Bullish Price Objective fiat$2.83 very undervalued & oversold
U.S. Silver responds to unsolicited offer
http://ih.advfn.com/p.php?pid=nmona&article=53603601&symbol=USA
U.S. Silver Corporation (TSX: USA)
("U.S. Silver" or the "Company") today responds to a press
release issued on July 25, 2012 by
Hecla Mining Company ("Hecla"),
which announced Hecla's intention to make an all cash offer to
acquire all of the outstanding common shares of U.S. Silver
for C$1.80 per share and all of the outstanding common share
purchase warrants of U.S. Silver for C$0.205 per warrant (the
"Hecla Offer").
The Company's board of directors is in the process of reviewing and evaluating the announcement with its outside financial and legal advisors and will notify shareholders of any recommendation in respect of the Hecla Offer by the board of directors through a news release and circular in accordance with applicable securities laws.
The board of directors will update shareholders from time to time on developments relating to the Hecla Offer and the Company's proposed combination transaction with RX Gold & Silver Inc. ("RX Gold") announced on June 7, 2012. The combination agreement between U.S. Silver and RX Gold will remain in effect unless terminated by either party in accordance with its terms.
The Company has retained Cormark Securities Inc. as its financial advisors and Stikeman Elliott LLP as its legal advisors.
About
U.S. Silver U.S. Silver, through its wholly owned subsidiaries, owns and/or operates
the Galena,
Coeur,
Caladay and
Dayrock silver-lead-copper mines in Shoshone County, Idaho,
with
the Galena mine being the second most prolific silver mine in
U.S. history.
Total silver production from U.S. Silver's mining complex has
exceeded 217 million ounces of silver production since 1953.
U.S. Silver controls a land package now totalling approximately
14,000 acres in the heart of the Coeur d'Alene Mining District.
U.S. Silver is focused on expanding the production from
existing operations as well as exploring and developing its
extensive Silver Valley holdings in the Coeur d'Alene Mining
District.
SOURCE U.S. Silver Corporation
Hecla made a cash offer to USSIF's shareholders -
CDE should make a better offer to U.S. Silver Corporation
(USSIF) shareholders
with exchange of shares etc.
the fiat$ is bankrupt & too risky to hold over night -
would make no sleep -
the one with fiat in the pocket will
exchange it for Silver REAL MONEY a.s.a.p. -
to be able to get LT real hard asset money
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77879807
we expect other mining companies to come into this deal now -
USSIF is a Silver bargain -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77832569
God Bless
Ps.
stay out of 666-banksters etf's will be
the 1st to be confiscated by the 666 pawns -
HL well, will be back later with a higher offer -
for the combined Ag & Au bargain bottom fishing -
we do need CDE a few more to enter the bottom
fishing competition -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77944797
THE SILVER BOMB Collapse is Happening NOW $500+ Silver IS Coming Part 2
U.S. Silver and RX Gold have agreed to not solicit alternative
transactions to the proposed Transaction, subject to the right
to respond to superior proposals.
In the event that a party enters into an agreement to effect a
superior proposal, then such party is obligated to pay to the
other party a termination payment that is outlined in the
definitive agreement.
The Transaction is conditional upon the receipt of all necessary
regulatory approvals, the absence of material adverse changes, and
holders of at least 66 2/3% of the total votes cast by
shareholders of each of U.S. Silver and RX Gold, as applicable,
approving the Transaction at a meeting of each of
U.S. Silver and RX Gold shareholders.
Full details of the Transaction will be included in the information circulars of U.S. Silver and RX Gold,
which are expected to be filed with securities regulatory
authorities and mailed to
U.S. Silver and RX Gold shareholders in early July.
It is anticipated that the shareholders meeting of both
U.S. Silver and RX Gold to approve the Transaction will occur
by early August.
Closing of the Transaction is anticipated shortly after the
shareholders meetings.
Advisors and Counsel
U.S. Silver's financial advisor is Cormark Securities Inc. and its legal counsel is Stikeman Elliott LLP. Cormark has provided an opinion to the board of directors of U.S. Silver that, as of the date thereof, the consideration to be paid under the Transaction is fair, from a financial point of view, to the shareholders of U.S. Silver.
RX Gold has engaged Davies Ward Phillips & Vineberg LLP as its legal counsel. Macquarie Capital Markets Canada Ltd. has provided an opinion to the board of directors of RX Gold that, as of the date thereof, the consideration to be paid under the Transaction is fair, from a financial point of view, to the shareholders of RX Gold.
Conference Call Information
A conference call for the investment community will take place
to discuss the Transaction on Friday, June 8, 2012, at 11am
Eastern time (8am Pacific time).
Investors, analysts, media and other interested parties are
invited to attend.
Webcast/Conference Call
Live Dial-In Information: Toronto and International:
647-427-7450
North America (Toll Free):
1-888-231-8191
Participant Audio Webcast:
http://www.newswire.ca/en/webcast/detail/989105/1066033
The presentation referenced on the conference call will be made available for download on the U.S. Silver website at
http://www.us-silver.com
and the RX Gold website at
http://www.rxgold.com.
A replay of the call will be available by
dialing 1-855-859-2056 and entering reference number 89952475
or by accessing the link to the recording that will be posted
to the U.S. Silver and RX Gold websites shortly after the
conference call.
http://ih.advfn.com/p.php?pid=nmona&article=52698473
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77944797
God Bless
Market has started to realise what a mountain of Silver
U.S. Silver Corporation (USSIF) OWNS -
E.g.,
The Dayrock Silver mine with its hidden Mother Load -
is in itself worth more than the
HL low unsolicited offer -
The Dayrock Silver Mine -
The Dayrock Silver Mine north of Wallace, Idaho
(View to the south)
This Silver-Lead-Zinc Mine and Mill -
operated intermittently from 1924 until 1977,
producing 6,500,000 ounces of silver.
In 2007 the mine and mill facility was purchased by
US Silver, which intends to explore for
new silver veins -
http://wikimapia.org/5448127/Dayrock-Mine
http://wikimapia.org/#lat=47.511621&lon=-115.9000325&z=16&l=0&m=b
U.S. Silver responds to unsolicited offer
http://ih.advfn.com/p.php?pid=nmona&article=53603601&symbol=USA
U.S. Silver Corporation (USSIF) IS THE OLD LT REAL MONEY -
Note, USSIF =
insulting to compare to current fiat fed fraud currency -
U.S. Silver Corporation (TSX: USA)
("U.S. Silver" or the "Company") today responds to a press
release issued on July 25, 2012 by
Hecla Mining Company ("Hecla"),
which announced Hecla's intention to make an all cash offer to
acquire all of the outstanding common shares of U.S. Silver
for C$1.80 per share and all of the outstanding common share
purchase warrants of U.S. Silver for C$0.205 per warrant (the
"Hecla Offer").
The Company's board of directors is in the process of reviewing and evaluating the announcement with its outside financial and legal advisors and will notify shareholders of any recommendation in respect of the Hecla Offer by the board of directors through a news release and circular in accordance with applicable securities laws.
The board of directors will update shareholders from time to time on developments relating to the Hecla Offer and the Company's proposed combination transaction with RX Gold & Silver Inc. ("RX Gold") announced on June 7, 2012. The combination agreement between U.S. Silver and RX Gold will remain in effect unless terminated by either party in accordance with its terms.
The Company has retained Cormark Securities Inc. as its financial advisors and Stikeman Elliott LLP as its legal advisors.
About
U.S. Silver U.S. Silver, through its wholly owned subsidiaries, owns and/or operates
the Galena,
Coeur,
Caladay and
Dayrock silver-lead-copper mines in Shoshone County, Idaho,
with
the Galena mine being the second most prolific silver mine in
U.S. history.
Total silver production from U.S. Silver's mining complex has
exceeded 217 million ounces of silver production since 1953.
U.S. Silver controls a land package now totalling approximately
14,000 acres in the heart of the Coeur d'Alene Mining District.
U.S. Silver is focused on expanding the production from
existing operations as well as exploring and developing its
extensive Silver Valley holdings in the Coeur d'Alene Mining
District.
SOURCE U.S. Silver Corporation
Hecla made a cash offer to USSIF's shareholders -
CDE should make a better offer to U.S. Silver Corporation
(USSIF) shareholders
with exchange of shares etc.
the fiat$ is bankrupt & too risky to hold over night -
would make no sleep -
ex. bankrupt by...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70774248
the one with fiat in the pocket will
exchange it for Silver REAL MONEY a.s.a.p. -
to be able to get LT real hard asset money
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77879807
we expect other mining companies to come into this deal now -
USSIF is a Silver bargain -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77832569
God Bless
Ps.
stay out of 666-banksters etf's will be
the 1st to be confiscated by the 666 pawns -
U.S. Silver responds to unsolicited offer
http://ih.advfn.com/p.php?pid=nmona&article=53603601&symbol=USA
U.S. Silver Corporation (TSX: USA)
("U.S. Silver" or the "Company") today responds to a press
release issued on July 25, 2012 by
Hecla Mining Company ("Hecla"),
which announced Hecla's intention to make an all cash offer to
acquire all of the outstanding common shares of U.S. Silver
for C$1.80 per share and all of the outstanding common share
purchase warrants of U.S. Silver for C$0.205 per warrant (the
"Hecla Offer").
The Company's board of directors is in the process of reviewing and evaluating the announcement with its outside financial and legal advisors and will notify shareholders of any recommendation in respect of the Hecla Offer by the board of directors through a news release and circular in accordance with applicable securities laws.
The board of directors will update shareholders from time to time on developments relating to the Hecla Offer and the Company's proposed combination transaction with RX Gold & Silver Inc. ("RX Gold") announced on June 7, 2012. The combination agreement between U.S. Silver and RX Gold will remain in effect unless terminated by either party in accordance with its terms.
The Company has retained Cormark Securities Inc. as its financial advisors and Stikeman Elliott LLP as its legal advisors.
About
U.S. Silver U.S. Silver, through its wholly owned subsidiaries, owns and/or operates
the Galena,
Coeur,
Caladay and
Dayrock silver-lead-copper mines in Shoshone County, Idaho,
with
the Galena mine being the second most prolific silver mine in
U.S. history.
Total silver production from U.S. Silver's mining complex has
exceeded 217 million ounces of silver production since 1953.
U.S. Silver controls a land package now totalling approximately
14,000 acres in the heart of the Coeur d'Alene Mining District.
U.S. Silver is focused on expanding the production from
existing operations as well as exploring and developing its
extensive Silver Valley holdings in the Coeur d'Alene Mining
District.
SOURCE U.S. Silver Corporation
Hecla made a cash offer to USSIF's shareholders -
CDE should make a better offer to U.S. Silver Corporation
(USSIF) shareholders
with exchange of shares etc.
the fiat$ is bankrupt & too risky to hold over night -
would make no sleep -
the one with fiat in the pocket will
exchange it for Silver REAL MONEY a.s.a.p. -
to be able to get LT real hard asset money
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77879807
we expect other mining companies to come into this deal now -
USSIF is a Silver bargain -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77832569
God Bless
Ps.
stay out of 666-banksters etf's will be
the 1st to be confiscated by the 666 pawns -
Never been in this what if I want more?
U.S. Silver responds to unsolicited offer
Date : 07/26/2012 @ 7:31AM
Source : PR Newswire
Stock : US Silver Corporation (USA)
http://ih.advfn.com/p.php?pid=nmona&article=53603601&symbol=USA
U.S. Silver Corporation (TSX: USA) ("U.S. Silver" or the "Company") today responds to a press release issued on July 25, 2012 by Hecla Mining Company ("Hecla"), which announced Hecla's intention to make an all cash offer to acquire all of the outstanding common shares of U.S. Silver for C$1.80 per share and all of the outstanding common share purchase warrants of U.S. Silver for C$0.205 per warrant (the "Hecla Offer").
The Company's board of directors is in the process of reviewing and evaluating the announcement with its outside financial and legal advisors and will notify shareholders of any recommendation in respect of the Hecla Offer by the board of directors through a news release and circular in accordance with applicable securities laws.
The board of directors will update shareholders from time to time on developments relating to the Hecla Offer and the Company's proposed combination transaction with RX Gold & Silver Inc. ("RX Gold") announced on June 7, 2012. The combination agreement between U.S. Silver and RX Gold will remain in effect unless terminated by either party in accordance with its terms.
The Company has retained Cormark Securities Inc. as its financial advisors and Stikeman Elliott LLP as its legal advisors.
Offering pennies on the dollar for this silver mine. Nice offer but our counter-offer should be $5.
Hecla Announces Intention to Make All Cash Offer to Acquire U.S. Silver Corporation for CDN$1.80 Per Common Share
Highlights of the Proposed Hecla Offer:
All-cash offer of CDN$1.80 for each U.S. Silver common share, providing significant, immediate and certain value and liquidity to U.S. Silver common shareholders upon consummation.
Premium of over 23% over the closing price of U.S. Silver common shares on July 24, 2012 and a premium of 30% over the U.S. Silver 20-day volume weighted average common share price as at July 24, 2012 on the TSX.
Offer for each common share also represents a premium of 28% to the imputed offer price of CDN$1.41 under the proposed merger with RX Gold & Silver, as at July 24, 2012.
Simultaneous and inter-conditional offers to acquire each outstanding common share as well as each U.S. Silver purchase warrant for CDN$0.205 (its “in the money” amount).
Offers not subject to financing.
Hecla Offer conditional upon usual matters and upon the RX proposal NOT proceeding or such transaction otherwise terminating.
Press Release: Hecla Mining Company – 28 minutes ago
http://finance.yahoo.com/news/hecla-announces-intention-cash-offer-230200265.html
COEUR D’ALENE, Idaho--(BUSINESS WIRE)--
Hecla Mining Company (HL) (“Hecla”) announced today that it intends to have an indirect wholly-owned subsidiary make offers to acquire all of the outstanding common shares of U.S. Silver Corporation (“U.S. Silver”) for CDN$1.80 per common share in cash and acquire each outstanding common share purchase warrant for CDN$0.205 (its “in the money” amount based on such price per common share) (together, the “Hecla Offer”).
“Once launched and successful, the all-cash Hecla Offer will provide certainty of value and immediate liquidity at an attractive valuation for U.S. Silver shareholders,” said Hecla’s President and Chief Executive Officer, Phillips S. Baker, Jr. “We believe that the proposed transaction with RX Gold & Silver fails to maximize value for U.S. Silver shareholders and is, by any measure, inferior to the Hecla Offer.”
Hecla Offer Provides Superior Value
Hecla believes the intended Hecla Offer for U.S. Silver will constitute a “superior proposal” relative to the proposed U.S. Silver and RX Gold & Silver transaction for the following reasons:
~ Hecla’s intended offer to purchase all of the issued and outstanding common shares of U.S. Silver for CDN$1.80 per share in cash will represent a premium of over 23% to the CDN$1.46 closing price of U.S. Silver common shares on the TSX on July 24, 2012 and a premium of 28% to the imputed offer price of CDN$1.41 under the RX Proposal, as at the same date;
~ Once successful, the Hecla Offer will eliminate integration and dilution risk to U.S. Silver shareholders associated with the proposed merger with RX Gold & Silver and any subsequent capital needs;
~ Hecla intends to offer to acquire each outstanding common share purchase warrant for CDN$0.205 (its “in the money” amount); and
~ After successful completion of the Hecla Offer, Hecla will offer to pay holders of U.S. Silver options (vested or not) for the cancellation of their options the greater of: (a) their “in the money amount” or (b) CDN$0.01 per option in cash.
Background to the Hecla Offer
In June, the U.S. Silver Board of Directors approved a proposed business combination between U.S. Silver and RX Gold & Silver. Shareholders of U.S. Silver are scheduled to vote on the proposed transaction at a special meeting of U.S. Silver shareholders, currently scheduled for August 7, 2012.
Early on Monday, July 23, 2012, Hecla approached the Board of Directors of U.S. Silver to discuss the Hecla Offer and, at that time, expressed a strong desire to enter into a friendly transaction supported by the Board of Directors of U.S. Silver at CND$1.80 per common share. Hecla and U.S. Silver engaged in discussions; however, the two companies were unable to reach an agreement on how best to proceed on a timely basis. Given this impasse and the rapidly approaching meetings on the proposed RX Gold & Silver transaction, Hecla believes it is compelled to make its offer directly to holders of U.S. Silver common shares and warrants and provide them with the opportunity to receive what it believes is superior consideration for their shares.
Further Details of the Hecla Offer
Once launched, the Hecla Offer will constitute two offers: 1) an offer to purchase all of the outstanding common shares of U.S. Silver for CDN$1.80 in cash, and 2) an offer to purchase each outstanding common share purchase warrant for CDN$0.205 (its “in the money” amount). The two offers will be inter-conditional and will be made simultaneously. The offers will not be subject to any financing conditions. Hecla has sufficient cash to pay for the consideration payable under the offers and associated expenses. At March 31, 2012, Hecla had US$279 million in cash and equivalents and no bank debt.
The Hecla Offer will commence by way of a newspaper advertisement. A formal offer and take-over bid circular will then be mailed to holders of U.S. Silver common shares and warrants as soon as possible, once U.S. Silver makes a list of holders of shares and a list of holders of warrants available. Hecla requested such lists on July 25, 2012. The Hecla Offer will be subject to usual and customary conditions, including receipt of all required regulatory approvals, not less than 66 2/3% of the U.S. Silver common shares being deposited under the Hecla Offer and not withdrawn, and Hecla and U.S. Silver not agreeing to proceeding with the acquisition of U.S. Silver by Hecla by way of a negotiated plan of arrangement. The Hecla Offer will also be conditional on the RX Gold & Silver proposal not being approved by the shareholders of U.S. Silver or such transaction otherwise being terminated and there having been deposited under the Hecla Offer a sufficient number of common share purchase warrants such that Hecla may amend the appropriate warrant indenture to permit a cashless exercise or to cancel the remaining warrants for their “in the money” amount.
Although not part of the Hecla Offer, after the successful completion of the Hecla Offer, Hecla intends to offer the holders of outstanding options to acquire U.S. Silver common shares the opportunity to cancel their options in consideration of the greater of the “in the money amount” of such option and CDN$0.01.
Further details concerning the Hecla Offer will be included in the advertisement, formal offer and take-over bid circular. The Hecla Offer will be open for acceptance for at least 35 days following its commencement. Hecla expects to mail the bid circular and related documents related to the Hecla Offer to the holders of U.S. Silver common shares and warrants in the coming days.
Advisors
Scotiabank is acting as financial advisor to Hecla in connection with the proposed takeover offer and Aird & Berlis LLP as Hecla’s Canadian legal counsel.
About Hecla Mining Company
Established in 1891, Hecla Mining Company is a leading low cash cost silver producer in the U.S. The company has two operating mines and exploration properties in four world-class silver mining districts in the U.S. and Mexico.
Cautionary Statements
Statements made which are not historical facts, such as anticipated payments, litigation outcome, production, sales of assets, exploration results and plans, prospects and opportunities including reserves, resources, and mineralization, costs, and prices or sales performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “will”, “should”, “expects”, “intends”, “projects”, “believes”, “estimates”, “targets”, “anticipates” and similar expressions are used to identify these forward-looking statements. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, environmental and litigation risks, operating risks, project development risks, political and regulatory risks, labor issues, ability to raise financing and exploration risks and results. Refer to the company's Form 10-K and 10-Q reports for a more detailed discussion of factors that may impact expected future results. The company undertakes no obligation and has no intention of updating forward-looking statements other than as may be required by law.
Cautionary Statements to Investors on Reserves and Resources
The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this release, such as “resource,” “other resources,” and “mineralized materials” that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K and Form 10-Q. You can review and obtain copies of these filings from the SEC's website at www.sec.gov.
U.S. Silver shareholders with questions about the Hecla Offer can also contact Hecla’s information agent, MacKenzie Partners Inc., at 1-800-322-2885.
Contact:
Hecla Mining Company
Sr. Vice President – CFO
Jim Sabala, 208-209-1255
Direct Main: 1-800-HECLA91 (1-800-432-5291)
hmc-info@hecla-mining.com
http://www.hecla-mining.com
U.S. Silver Corporation and RX Gold & Silver Inc.
Receive Interim Orders To Proceed With Special Meetings
To Consider Combination Transaction
TORONTO, July 10, 2012 /CNW/ -
U.S. Silver Corporation
(TSX: USA) ("U.S. Silver") and RX Gold & Silver Inc.
(TSX-V: RXE) ("RX Gold") are pleased to announce today that
they have each received an interim order from the Ontario
Superior Court of Justice to proceed with their respective
special meetings of shareholders in connection with the
previously announced business combination of
U.S. Silver and RX Gold.
The special meeting of U.S. Silver shareholders is scheduled
to be held at the offices of Stikeman Elliott LLP, 5300 Court
Commerce West, 199 Bay Street, Toronto, Ontario on Tuesday,
August 7, 2012, commencing at 10:00 a.m. (Toronto time).
The Notice of Special Meeting to U.S. Silver shareholders,
Management Proxy Circular, Form of Proxy and Letter of
Transmittal for U.S. Silver's special meeting are available at
www.sedar.com and are expected to be mailed to
U.S. Silver shareholders shortly.
The special meeting of RX Gold shareholders is scheduled to be
held at the Ontario Bar Association, 20 Toronto Street,
Suite 200, Toronto, Ontario, M5C 2B8 on Tuesday,
August 7, 2012, commencing at 9:00 a.m. (Toronto time).
The Notice of Special Meeting to RX Gold shareholders,
Management Information Circular, Form of Proxy and Letter of
Transmittal for RX Gold's special meeting are available at
www.sedar.com and are expected to be mailed to
RX Gold shareholders shortly.
About U.S. Silver Corporation
U.S. Silver, through its wholly-owned subsidiaries, owns and/or
operates
the Galena,
Coeur,
Caladay and
Dayrock silver-lead-copper mines in Shoshone County, Idaho, with
the Galena mine being the second most prolific silver mine
in U.S. history.
Total silver production from U.S. Silver's mining complex has
exceeded 217 million ounces of silver production since 1953.
U.S. Silver controls a land package now totaling approximately
14,000 acres in the heart of the Coeur d'Alene Mining District.
U.S. Silver is focused on expanding the production from
existing operations as well as exploring and developing its
extensive Silver Valley holdings in the Coeur d'Alene Mining
District.
About RX Gold & Silver Inc.
RX Gold is a gold and silver mining company focused on growth
in North America.
Currently RX Gold is concentrating on continuing test mining
and expanding development at its 100%-owned Drumlummon Mine.
The Drumlummon Mine is a bonanza style low sulphidation
epithermal gold and silver deposit with historic production of
approximately one million ounces of gold equivalent.
The mine has never been fully exploited or explored and
material that was once considered waste is now potentially
economic.
In addition, RX Gold has discovered a series of entirely new
high-grade gold and silver veins that remain open for
expansion in three directions.
Forward-Looking Statements
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks, assumptions and uncertainties that are difficult to predict and the risk that regulatory approvals may not be obtained or that conditions of closing will not be satisfied or waived within the timeframe contemplated. Additional potential risks include: U.S. Silver & Gold Inc. may not achieve anticipated synergies; loss of key personnel; reduction in the anticipated cash levels; and not achieving production goals stated. Actual results might differ materially from results suggested in any forward-looking statements. U.S. Silver and RX Gold assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the U.S. Silver and RX Gold. Additional information identifying risks and uncertainties is contained in filings by the U.S. Silver and RX Gold with the Canadian securities regulators, which filings are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
U.S. Silver Corporation
Chris Hopkins
Chief Financial Officer
(416) 907-5501
E-mail: info@us-silver.com
RX Gold & Silver Inc.
Darren Blasutti
Chief Executive Officer
(416) 848-9503
E-mail: inbox@rxgold.com
http://tmx.quotemedia.com/article.php?newsid=52622689&qm_symbol=USA
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77337917
http://www.kwaves.com/fiat.htm
U.S. Silver & Gold Corporation & Drumlummon Gold Mine - Montana
Drumlummon Mine vein ...
A front-loader operator stops and talks with workers at the Drumlummon Mine
The entrance of the Drumlummon Mine’s Gunsinger Decline.
Workers at the revived Drumlummon gold mine
in Marysville drill for core samples.
http://www.rxgold.com/show/webshow.pdf
Drumlummon miners drive pneumatic drills into rock.
http://crmw.org/news%20articles/LS_Msla_Ind_5-12-11.htm
http://www.rxgold.com/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77073035
Mr. Darren John Blasutti & U.S. Silver & Gold Corporation:
June 27, 2012..
http://watch.bnn.ca/#clip710462
Mr. Darren John Blasutti has been Chief Executive Officer and
President of
RX Exploration Inc., since July 26, 2011.
http://www.rxgold.com/
Mr. Blasutti has been Vice President of Investor Relations of
Barrick Gold Corp. since February 10, 2004.
Mr. Blasutti served as the Senior Vice President of Corporate
Development for Barrick Gold Corporation.
He served as the Director of Corporate Development for
Barrick, where he played a key role in strategy development and
the acquisitions of Sutton Resources Ltd., Pangea Goldfields
Inc., and Homestake Mining Company.
Mr. Blasutti served as Project Manager on the integration with
Homestake and was involved in Barrick's strategic partnership
with Highland Gold Mining to explore gold mining opportunities
in Russia.
Prior to joining Barrick in 1998, he was employed by
PricewaterhouseCoopers.
Mr. Blasutti has responsibility for the strategic
development and implementation for
Barrick's investor relations activities, including maintaining
and building relationships with analysts and investors, and
broadening the shareholder base through targeted programs.
He has been a Director of Noront Resources Ltd. since 2008.
He has been a Director of RX Exploration Inc. since July 06,
2011.
He is a Member of the Canadian Institute of Chartered
Accountants in 1996.
Barrick Gold Corporation
(NYSE: ABX)(TSX: ABX) announced changes to its management team.
Darren Blasutti, SVP Corporate Development
left Barrick effective January 7, 2011,
in order to pursue other opportunities.
Darren has been with Barrick since 1998 and has made a
significant contribution to the rapid growth of the Company.
"Over the years Darren has played a key role in the strategic
development of Barrick and has led many of our acquisitions
such as Sutton Resources, Homestake, Placer Dome and the
consolidation of our world class Cortez property among others,"
said Aaron Regent, President and Chief Executive Officer.
"We thank Darren for the value he has added to our organization
and wish him much success in his future endeavours."
Barrick Gold Corporation's vision is to become the world's
best gold company by finding, acquiring, developing and
producing quality reserves in a safe, profitable and
socially responsible manner.
http://www.rxgold.com/show/webshow.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77028719
THE SILVER BOMB: An Opportunity That Will Never Happen Again -
Eric Sprott and David Baker: Ministry of [Un]Truth
Submitted by cpowell on Sat, 2012-06-23 04:38.
Section: Daily Dispatches
12:34p HKT Saturday, June 23, 2012
Dear Friend of GATA and Gold:
Sprott Asset Management's Eric Sprott and David Baker enumerate
some of the quickly disproved recent assertions of high
political and financial officials -- some of them plainly lies -- and
conclude that no official financial policy is working and that
debt repudiation is likely the only outcome of the world
financial crisis.
The Sprott-Baker commentary is titled "Ministry of [Un]Truth" and
it's posted at the Sprott Internet site here:
http://www.sprott.com/markets-at-a-glance/ministry-of-%5Bun%5Dtruth/
God Bless
U.S. Silver and RX Gold & Silver announce proposed business combination to create a growth-oriented U.S. precious metals producer
06/07/2012
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2012/US-Silver-and-RX-Gold--Silver-announce-proposed-business-combination-to-create-a-growth-oriented-US-precious-metals-prod/default.aspx
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
- Conference Call Friday, June 8, 2012 at 11am EST (8am PST) -
TORONTO, June 7, 2012 /CNW/ -
U.S. Silver Corporation -
(TSX:USA) (USOTC:USSIF) ("U.S. Silver") and
RX Gold & Silver Inc.
(TSX-V:RXE) (OTCQX:RXEXF) ("RX Gold") are pleased to announce
the signing of a definitive agreement to combine the two
companies (the "Transaction") by way of a plan of arrangement.
The resulting company, to be called
U.S. Silver & Gold Inc.
("U.S. Silver & Gold"), will be a well-funded, growth-oriented
precious metals producer with U.S. Silver's producing
Galena mine in Idaho,
RX Gold's producing Drumlummon mine in Montana and
U.S. Silver's Coeur re-development projects in Idaho.
Highlights of the Transaction
U.S. Silver shareholders to receive 0.670
U.S. Silver & Gold shares per U.S.
Silver share, resulting in their effective ownership of approximately 70% of the combined company.
RX Gold shareholders to receive 0.109 U.S. Silver & Gold shares
per RX Gold share, resulting in their effective ownership of
approximately 30% of the combined company.
Two - 100% owned U.S. based precious metal operations that deliver immediate cash and one silver re-development asset:
Combined production base of 2.7 million1 ounces of silver and 26,5001 ounces of gold
Opportunities for significant resource growth, brownfield development and operational and head office synergies
Meaningful organic exploration potential at Drumlummon and Silver Valley areas
Geographic concentration of assets that allows for near term focus on improving mine planning and execution of cost reduction strategies.
Proven board of directors and management team with significant executive experience in senior precious metals companies and the capability to deliver results in tough market conditions.
Improved liquidity and capital markets profile, US$25 million in cash and capital markets relationships that position the larger, combined company for further growth through opportunistic and accretive acquisitions.
Unanimous recommendations from the boards of both companies that shareholders vote for the Transaction. The board and senior management of each company have agreed to vote in favour of the Transaction.
In addition, Sprott Asset Management LP ("Sprott") has signed a
lock-up agreement supporting the Transaction.
Sprott is the largest shareholder of both companies and
currently holds approximately 14% of U.S. Silver shares and
8% of RX Gold shares.
A key objective of the combined company will be to exceed 5.0
million ounces of silver production at significantly lower cash
costs by 2014.
Upon completion of the Transaction, the combined company will have approximately 60 million basic common shares issued and outstanding, and there will be options and warrants outstanding to acquire an additional 6.3 million shares.
The warrants of both companies will become exercisable for common shares of U.S. Silver & Gold based on the applicable exchange ratio and the options of both companies will be exchanged for options of U.S. Silver & Gold based on the applicable exchange ratio.
Leadership Team
Upon completion of the Transaction, the board of directors of U.S. Silver & Gold will be comprised of four current U.S. Silver board members and four current RX Gold board members (see appendix for full U.S. Silver & Gold board of directors) and the management team will be comprised of the combined best talent from U.S. Silver and RX Gold.
Gordon Pridham, Executive Chairman and Interim CEO of U.S. Silver will serve as Chairman of the board of the combined company. Mr. Pridham has over 30 years of experience as a global finance executive and serves on a number of public boards of directors and has been a director of U.S. Silver since November 2008.
Darren Blasutti, currently President and CEO of RX Gold, will assume the same role for the combined company. A chartered accountant, Mr. Blasutti was previously Senior Vice President, Corporate Development at Barrick Gold, where he reported to the CEO, led strategic development, and executed more than 25 M&A transactions over his 13 year tenure.
Robert Taylor, RX Gold's current Chief Operating Officer will assume the role of COO of the combined company and with Steve Long, Senior Vice President of Operations, will lead an impressive group of operating professionals in Idaho and Montana. Mr. Taylor has close to 40 years of mining experience and was previously with Kinross Gold, where he served as Vice President of North American Operations until 2009.
Gord Pridham, U.S. Silver Interim CEO and Executive Chairman, commented, "The combination of U.S. Silver and RX Gold will create a strong North American-focused precious metals producer with a solid portfolio of production and development assets. The proposed management team and board have proven capability to optimize existing operations, drive significant cost savings through synergies and pursue aggressive growth thereby, creating meaningful value for shareholders."
Darren Blasutti, President & CEO RX Gold, stated, "The Galena mine and Coeur re-development project will enhance RX Gold shareholders' exposure to precious metals production and cash flow. With a rapid production ramp-up and aggressive consolidation strategy, underpinned by a much larger and well-funded company, the RX Gold board and management—all of whom are significant shareholders—believe the strategic and financial rationale of this transaction will benefit all shareholders, employees and other stakeholders. I am confident we will have the financial, human and capital markets wherewithal to achieve our goal of exceeding 5 million ounces of silver production by 2014."
Benefits to Shareholders of U.S. Silver
U.S. Silver shareholders will own approximately 70% of a combined growth-oriented, larger, producing precious metals company.
In addition to key U.S. Silver board and management, the combined company gains solid and proven expertise among RX Gold's management, particularly as it pertains to acquiring, exploring, developing and operating mining projects, as well as significant capital markets expertise.
Participation in the 100% owned high grade gold and silver Drumlummon mine, which has historically produced more than 1 million ounces of gold and 12 million ounces of silver:
The mine produced 6,625 ounces of gold and 117,635 ounces of silver in Q1 2012
Excellent exploration potential for future resource expansion at Drumlummon and the recently acquired Belmont mine.
As a result of the effective ownership split, U.S. Silver shareholders will receive an implied premium of approximately 45% based on the closing price of C$1.46 on June 6, 2012.
Participation in the potential re-rating of U.S. Silver & Gold resulting from the increased size, synergies, liquidity, research analyst coverage and market visibility of the combined company.
Benefits to Shareholders of RX Gold
Participation in the Galena mine, which provides high grade, narrow vein copper-silver and lead-silver with over 200 million ounces of silver produced historically and no historic environmental liabilities:
The mine produced 559,027 ounces of silver in Q1 2012
NI-43-101 compliant silver reserves of 23.2 million2 ounces and M& I silver resources of 35.1 million3 ounces (inclusive of reserves).
Participation in the Coeur mine, which is fully funded and under re-development with expected production by year-end:
Historical production of 39 million ounces of silver and targeted production rate of 500,000 ounces of silver per year by end of 2013
NI-43-101 compliant M& I resources of 3.3 million ounces of silver (included in Galena resources noted above).
Increased cash flow and excellent exploration potential with a dominant land position in the Silver Valley.
Strong balance sheet with roughly US$25 million in cash.
Further Transaction Details
Sprott, the largest shareholder of both RX Gold and U.S. Silver, has entered into a lock-up agreement in support of the Transaction in respect of its approximate 14% ownership of U.S. Silver and its approximate 8% ownership of RX Gold.
This represents approximately 12% of the issued and outstanding common shares of the combined company.
Eric Sprott, CEO & CIO of Sprott, "As a major shareholder of both U.S. Silver and RX Gold, we are very supportive of this transaction. We believe it will unlock significant value for shareholders as the newly formed company will have the production base, management team, balance sheet and capital markets profile to pursue its growth strategy."
The board of directors of each of U.S. Silver and RX Gold has received a fairness opinion with respect to the Transaction consideration.
Both boards have unanimously approved the Transaction and are recommending approval by their respective shareholders.
All management and board members have agreed to vote their respective shares in favour of the Transaction.
U.S. Silver and RX Gold have agreed to not solicit alternative transactions to the proposed Transaction, subject to the right to respond to superior proposals.
In the event that a party enters into an agreement to effect a superior proposal, then such party is obligated to pay to the other party a termination payment that is outlined in the definitive agreement.
The Transaction is conditional upon the receipt of all necessary regulatory approvals, the absence of material adverse changes, and holders of at least 66 2/3% of the total votes cast by shareholders of each of U.S. Silver and RX Gold, as applicable, approving the Transaction at a meeting of each of U.S. Silver and RX Gold shareholders.
Full details of the Transaction will be included in the information circulars of U.S. Silver and RX Gold, which are expected to be filed with securities regulatory authorities and mailed to U.S. Silver and RX Gold shareholders in early July.
It is anticipated that the shareholders meeting of both U.S. Silver and RX Gold to approve the Transaction will occur by early August.
Closing of the Transaction is anticipated shortly after the shareholders meetings.
Advisors and Counsel
U.S. Silver's financial advisor is Cormark Securities Inc. and its legal counsel is Stikeman Elliott LLP. Cormark has provided an opinion to the board of directors of U.S. Silver that, as of the date thereof, the consideration to be paid under the
Transaction is fair, from a financial point of view, to the shareholders of U.S. Silver.
RX Gold has engaged Davies Ward Phillips & Vineberg LLP as its legal counsel.
Macquarie Capital Markets Canada Ltd. has provided an opinion to the board of directors of RX Gold that, as of the date thereof, the consideration to be paid under the Transaction is fair, from a financial point of view, to the shareholders of RX Gold.
Conference Call Information
A conference call for the investment community will take place to discuss the Transaction on Friday, June 8, 2012, at 11am Eastern time (8am Pacific time).
Investors, analysts, media and other interested parties are invited to attend.
Webcast/Conference Call
Live Dial-In Information:
Toronto and International: 647-427-7450
North America (Toll Free): 1-888-231-8191
Participant Audio Webcast: http://www.newswire.ca/en/webcast/detail/989105/1066033
The presentation referenced on the conference call will be made available for download on the U.S. Silver website at
www.us-silver.com and the RX Gold website at
www.rxgold.com.
A replay of the call will be available by dialing 1-855-859-2056 and entering reference number 89952475 or by accessing the link to the recording that will be posted to the
U.S. Silver and RX Gold websites shortly after the conference call.
About U.S. Silver
U.S. Silver, through its wholly owned subsidiaries, owns and/or operates the Galena, Coeur, Caladay and Dayrock silver-lead-copper mines in Shoshone County, Idaho, with the Galena mine being the second most prolific silver mine in U.S. history. Total silver production from U.S. Silver's mining complex has exceeded 217 million ounces of silver production since 1953. U.S. Silver controls a land package now totalling approximately 14,000 acres in the heart of the Coeur d'Alene Mining District. U.S. Silver is focused on expanding the production from existing operations as well as exploring and developing its extensive Silver Valley holdings in the Coeur d'Alene Mining District. http://www.us-silver.com
About RX Gold
RX Gold is a gold and silver mining company focused on growth in North America. Currently RX Gold is concentrating on continuing test mining and expanding development at its 100% owned Drumlummon Mine. The Drumlummon Mine is a bonanza style low sulphidation epithermal gold and silver deposit with historic production of approximately one million ounces of gold equivalent. The mine has never been fully exploited or explored and material that was once considered waste is now potentially economic. In addition, RX Gold has discovered a series of entirely new high-grade gold and silver veins that remain open for expansion in three directions.
http://www.rxgold.com
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks, assumptions and uncertainties that are difficult to predict and the risk that regulatory approvals may not be obtained or that conditions of closing will not be satisfied or waved within the timeframe contemplated. Additional potential risks include: that U.S. Silver & Gold may not achieve anticipated synergies; loss of key personnel; reduction in the anticipated cash levels; and, not achieving production goals stated. Actual results might differ materially from results suggested in any forward-looking statements. U.S. Silver and RX Gold assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the U.S. Silver and RX Gold. Additional information identifying risks and uncertainties is contained in filings by the U.S. Silver and RX Gold with the Canadian securities regulators, which filings are available at www.sedar.com.
Appendix: Proposed U.S. Silver & Gold Board of Directors
Gordon Pridham
Chairman • Over 30 years of experience as a global finance executive
• Extensive special committee and public board experience with a track record of creating value for shareholders
• Serves on the public company boards of Newalta Corporation, NorRock Realty Finance Corporation and Titanium Corporation, where he is Chairman of the Board
Darren Blasutti
President and CEO, Director • Former SVP Corporate Development and Investor Relations for Barrick Gold, reported to President and CEO
• Led Barrick's strategic development for over 13 years executing over 25 gold mining transactions - Sutton Resources, Homestake Mining, Placer Dome, consolidation of the Cortez property from Rio Tinto and responsible for creation of Barrick Energy to hedge exposure to energy prices
Hugh Agro
Director • Former EVP Strategic Development at Kinross Gold, where he oversaw corporate development and exploration until his retirement in 2009
• Held senior positions with Placer Dome Canada and Deustche Bank
John Brock
Director • Geologist with over 40 years experience as an executive for 20 public, junior exploration companies
• Participated in 12 major mineral deposit discoveries in north and western Canada, Nevada, Mexico, and Ecuador
• Currently CEO of Pacific Ridge Exploration and an advisor to the Manex Resources Group
Alex Davidson
Director • Retired in 2009 as EVP Exploration and Corporate Development at Barrick Gold
• 2005 AO Dufresue Award to recognize exceptional achievement and distinguished contribution to mining exploration in Canada
• In 2003 was named Prospector of the Year by PDAC for discovery of Alto Chicama in Peru
Louis Dionne
Director • Former Senior Vice President Underground Operations at Barrick Gold
• Currently a director of Detour Gold Corporation and Aurizon Mining Ltd.
Alan Edwards
Director • Board of directors for AuRico Gold Inc., Entrée Gold Inc., Copper One Inc., Oracle Mining Corp. and AQM Copper Inc., where he is Chairman of the Board
• Senior management positions with Frontera Copper, Apex Silver Mines, Kinross, Cyprus Amax and Phelps Dodge
Tom Ryley
Director • Board of directors for Newalta Corporation, Tribute Resources and Benefuel Inc., where he is Chairman of the Board
• Former Executive Vice President of Suncor Energy, where he worked for 25 years in a variety of roles
Lorie Waisberg
Director • Former Senior Partner at Goodmans LLP, and EVP of Finance and Administration of Co-Steel Inc.
• Accredited with Institute of Corporate Directors and sits on Boards of Tembec and Chemtrade Logistics Inc.
__________________________
1 Q1, 2012 production results, annualized.
2 1.47 million tonnes at 490.3 g/t Ag from the Technical Report Shoshone County, Idaho prepared for U.S. Silver (dated March 19, 2012) (the "U.S. Silver Report")
3 2.26 million tonnes at 571.6 g/t Ag from the U.S. Silver Report
For further information: U.S. Silver:
Chris Hopkins, CFO
Or, Heather Foster, IR Manager
416-907-5501
info@us-silver.com (www.us-silver.com)
RX Gold:
Darren Blasutti, President and CEO
Or, Nicole Richard, Investor Relations
416-848-9503
inbox@rxgold.com (www.rxgold.com)
STOCK INFORMATION
TSX: USA
OTCQX: USSIF
DB Frankfurt: QE2
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Caladay Silver Mine - Third Silver Mine to be reactivated
memo info...
The Company is reviewing available data on
the Caladay property. [1]
The Caladay adjoins the producing Galena Mine to the east. [2]
In the early 1980's, a joint venture between Day Mines,
Callahan Mining, and ASARCO spent approximately
$32.5 million (about $80.0 million in 2009 dollars) on
the Caladay property -
to construct surface facilities,
a 5,100 foot deep shaft and limited underground workings
to explore the property. [3]
There is a significant historical resource in this zone
based on the
94 drill holes which is not currently 43-101 compliant. [4]
This historical drill program was designed to extend the
"Silver Belt" of the Coeur d'Alene District further east by
delineating the down plunge extensions from
the Galena mine. [5]
As budgets allow, additional drilling will be done to test
the zone of apparent mineralization. [6]
The Caladay facilities benefit the Galena mine operations
through improved ventilation, possible
additional ore and waste hoisting capacity and as a
potential secondary escape way. [7]
The Company has maintained the hoist and with installation of
new hoist ropes, which have been purchased,
the shaft would be fully functional. [8]
Finding costs of new mineralized material have been
$0.13 per ounce of silver. [9]
history often repeat itself -
U.S. Silver Announces Results of Ongoing Diamond Drill
Activities at the Galena Mine and Expanded Geological Team
U.S. Silver Corporation (TSX: USA, OTCQX: USSIF, Frankfurt: QE2)
(“US Silver” or “the Company”) is pleased to announce results
from the previously announced exploration diamond drill program
carried out to date in 2012.
Highlights
Results on the previously recognized Caladay lead zone have
confirmed the existence of a broad mineable resource that
appears to support lower cost bulk mining methods.
Efforts to extend the Silver Vein at depth have produced some
very high grade intercepts including
1,434 Ag opt over 1.6 feet and
112.1 Ag opt over 2.8 feet (see below) and
evidence of additional mineralization beyond
current mining levels.
The Silver Vein has been a prolific producer for decades and
the down dip extension of this mineralization is a key target
as deposits elsewhere in
the Silver Valley have demonstrated very high grade at depth.
Dan Hussey has returned to Company as Chief Geologist bringing
decades of experience in the Silver Valley and extensive
experience at the Galena.
http://tmx.quotemedia.com/article.php?newsid=51767554&qm_symbol=USA
2012 Drilling Program Priorities
The results so far in 2012 have defined the direction of the exploration program that we will be pursuing both underground and on surface through the summer drilling months. Specifically the top four priorities are as follows;
1.
Coeur Mine 3,700 Level - Drilling is scheduled for July at the Coeur Mine to test the down dip potential of known veins in the upper parts of the mine.
2.
Caladay Lead Zone - Drilling at the 4,900, 5,200, 5,500 Levels of the Galena Mine will further refine the extent of the Caladay Lead Zone down dip and along strike. Drilling will continue through mid October to define the potential extent of a large bulk mineable deposit.
3.
Surface Exploration Drilling – Drilling at the Coeur d’Alene Mine will begin in mid June to test the strike extension of known vein systems.
4.
Silver Vein - Drilling to test the up-dip and down dip extensions of the Silver Vein at the Galena Mine will continue throughout the year. Drilling will be completed on the 2,400, 3,700, 4,000, and 5,500 levels.
http://tmx.quotemedia.com/article.php?newsid=51767554&qm_symbol=USA
The Coeur Silver & Copper Mine -
btw..note..
Ag Rich Beauty Producer we get re-commissioned
for fiat$6mil
....would cost fiat>$200mil
to develop from grass-root for an exploration company
if they ever would be lucky to
find anything near as rich very unlikely -
The Coeur Silver & Copper Mine -
produced from 1969-1998.
The total production was 39 million ounces of silver
and 33 million pounds of copper from 2.4 million tons of ore.
Average ore grades were 16.6 ounces per ton silver
and 0.72% copper.
USSIF $SILVER Chart P&F TA Alert Bullish Price Objective $58.-/oz
http://www.us-silver.com/
Wallace Silver GO make Lady Ag
God Bless
U.S. Silver Announces Results of Ongoing Diamond Drill Activities
at the Galena Mine and Expanded Geological Team
06/04/2012
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2012/US-Silver-Announces-Results-of-Ongoing-Diamond-Drill-Activities-at-the-Galena-Mine-and-Expanded-Geological-Team1129700/default.aspx
USSIF $SILVER Chart P&F TA Alert Bullish Price Objective $58.-/oz
http://www.us-silver.com/
USSIF fast down - FAST UP
reflextion jojo by feds 666 banksters pawns fiat cult
ponzy schemes clownz super red mafiyaz -
fib correction done -
new bul leg often goes +162% Up -
of the down leg # -
USSIF should sell NO SILVER THE REAL MONEY -
only sell the Ag what needed for expenses & production upgrading -
the rest of the Ag to be held back as the BEST
ITELLIGENT 888 GENIUS INVESTMENT @ present time -
Eric Sprott on CNBC - Sees $2,000 Gold in 2012 -
http://www.gotgoldreport.com/2012/05/eric-sprott-on-cnbc-sees-2000-gold-in-2012-.html
http://video.cnbc.com/gallery/?video=3000089121
U.S. Silver Reports Q1 Results and Completion of Hoist Upgrade
05/10/2012
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2012/US-Silver-Reports-Q1-Results-and-Completion-of-Hoist-Upgrade1129433/default.aspx
http://www.us-silver.com/Investors/Presentations/default.aspx
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75338442
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75468320
God Bless
Eric Sprott on CNBC - Sees $2,000 Gold in 2012 -
http://www.gotgoldreport.com/2012/05/eric-sprott-on-cnbc-sees-2000-gold-in-2012-.html
http://video.cnbc.com/gallery/?video=3000089121
U.S. Silver Reports Q1 Results and Completion of Hoist Upgrade
05/10/2012
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2012/US-Silver-Reports-Q1-Results-and-Completion-of-Hoist-Upgrade1129433/default.aspx
http://www.us-silver.com/Investors/Presentations/default.aspx
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75338442
The more manipulation the higher Ag will FLY -
US gov. biggest 666 of JP Morgan capping gold price
http://gata.org/node/11216
http://www.zerohedge.com/news/blythe-masters-blogosphere-silver-manipulation-its-gold-axed-clients-and-doing-wrong-thing
the rest of the world will wake UP -
Ag will be a rocket - Mission to Safety -
The Real Money - Ag -
Ot. for Au = CALVF -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74178601
USSIF $SILVER Chart P&F TA Alert Bullish Price Objective $58.-/oz -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73717855
USA - USSIF Major Shareholder Eric Sprott: Chairman, CEO & Portfolio
Manager of Sprott Asset Management -
Eric has over 40 years of experience in the investment industry
and manages over $10 billion -
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2012/3/4_Eric_Sprott.html
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