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DeeDog thanks, well the good Health is the Real Wealth -
Au & Ag is the REAL MONEY - fiats are currencies -
some who sold USSIF for fiat - turning to become bashers -
for they think that will be a lower price to buy
in again - but often they brainwashed them self in the
bashing process so thee will not buy in again or too late -
so the LT Team players who stick to the LT Au & Ag agenda
often winn in the long term
ex....
http://www.gold-eagle.com/editorials_12/amerman081512.html
God Bless
Ps.
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.
compare it to USA king pin -
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
You didn't answer my question on share value Bob. I'm not crying, I'm whining because I only sold 25% of my shares at 1.77 when the price was up. I'm way past crying, avg pps now 2.71, let's see what happens.
I feel like I should have sold all of them to be bought back later (?), but that's not the first time I've had the hindsight experience...woulda coulda shoulda...flipped.
You didn't answer my question...you don't know either? I guess we will find out Wednesday and in days, weeks and months to come...years maybe?
God bless you Bob, you really try hard. I hope we live long enough to benefit from the future success of this merger.
I have to trust that Sprott is doing what's best for share value, since he owns so many shares of both companies.
Good evening,
Dee
DeeDog well, let us not cry for any spilled milk -
in a few days the merger will be more clear to us -
the new management have done very well for more
than 10yrs with ABX and got a lot of good experience -
I do belive it will be very good for us on the long term
great USA PM future -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78494833
God Bless
So Bob, if we at USSIF get shares worth 2/3 the price, do we get 1/3 more shares? Will each 1000 shares become 1333 USA shares worth the same as 1k USSIF shares were before the exchange/merger?
I don't understand all this but it sounds like USSIF shareholders are taking a beating and RXEXF shareholders are smelling like roses.
It also looks like we should have sold a bunch when USSIF was in the 1.80's.
What do you think? Equal value for USA when the dust settles?
Dee
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
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2012/US-Silver-and-RX-Gold--Silver-announce-closing-of-combination-transaction1130593/default.aspx
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
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
Back
Cruse began his short quest along the riverbed and in 1868
found the quartz.
It was on the side of a mountain and spilled into a ravine.
For years, he worked the quartz mine for what he prayed
would soon become gold.
The ore was there, he knew it.
He was plagued by flooding, but continued to dig his tunnel
into the mountain, even at the scoffs of other miners
disbelief in his logic.
In the process of digging a 500-foot tunnel through the mostly
granite mountainside, Tommy Cruse discovered the rich ledge
of gold in 1876, which was soon to be called Drumlummon Mine.
The discovery was of a vein of immense wealth.
Drumlummon Mine
http://www.marysvillemontana.com/drumlummon.html
history often repeat itself -
http://bullionnation.com/blog/silver-guru-eric-sprott-owns-14-us-silver-ussif-recommends-merger-gold-co
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78280208
God Bless
As you can see, as of June 30 RXE now has $3M in cash and $6M in unsold inventory and $7.9M in debt. Cash and inventory now exceeds debt.
New insights on the situtation...please read.
link: http://silverinvestingnews.com/13147/us-silver-to-shareholders-reject-hecla-offer-vote-for-rx-gold-merger.html
US Silver to Shareholders: Reject Hecla Offer, Vote For RX Gold Merger
Tuesday August 7, 2012, 3:45am PDT
By Michelle Smith - Exclusive to Silver Investing News
--------------------------------------------------------------------------------
US Silver (TSX:USA, OTCPINK:USSIF) and RX Gold and Silver (TSXV:RXE) have a plan to merge into US Silver and Gold, a combined company with the goal of exceeding 5 million ounces of silver by 2014. Under the terms of the deal, US Silver shareholders will own approximately 70 percent of the new company and RX shareholders get 30 percent. However, Hecla Mining (NYSE:HL) has upped the ante by making an all-cash offer for US Silver, a deal that US Silver urges its shareholders to reject.
If their merger plans are successful, US Silver and RX Gold will merge and focus on “three strong assets”:
•US Silver’s Galena silver-copper mine in Idaho, which produced 559,027 ounces of silver in Q1 2012.
• RX’s Drumlummon gold-silver mine in Montana, which produced 6,625 ounces of gold and 117,635 ounces of silver in Q1.
• US Silver’s redevelopment projects in Idaho, such as Coeur mine, which is expected to go into production this year.
Operating as US Silver and Gold, the companies expect a production base of 2.7 million ounces of silver and 26,500 ounces of gold.
These figures will represent a 12 percent increase in silver production for US Silver, according to Mark Grothe, lead analyst at proxy firm Glass Lewis and Co. With RX’s gold, there is a 75 percent increase on a silver equivalent basis, which he says is significant.
The companies expect greater growth and development opportunities and that the geographical proximity of their operations will allow corporate, milling and production synergies that will promote efficiency and lower costs by more than $10 million per year.
Other benefits are said to include improved liquidity and capital markets profile and management that can deliver results.
In a Business News Network interview, Darren Blasutti, president and CEO of RX, and CEO of the new US Silver and Gold, said US Silver has a very established asset but not a strong enough management team to unlock the necessary value. He believes this is a gap RX can fill since the company is formed by former Kinross (TSX: K,NYSE:KGC) and Barrick (TSX:ABX,NYSE:ABX) personnel, like him.
As with any merger, there are risks, and the benefits are not guaranteed. Time frames in which the potential benefits will be realized are unknown, and the expected results are largely contingent upon silver prices and mining valuations recovering.
Hecla makes an offer
Hecla believes it has a better plan – offering US Silver shareholders C$1.80 per share and C$.205 per outstanding common share purchase warrant.
This deal represents a 23 percent premium over US Silver’s closing share price on July 24, a 28 percent premium over the company’s one-month average, and a 28 percent premium over the offer price of $C 1.41 under the proposed RX merger.
This deal involves cash, which Hecla has on hand, but is contingent upon the RX merger not going through.
Weighing the options
US Silver says Hecla’s offer is inadequate and highly opportunistic.
While the Hecla deal offers a seemingly attractive premium from a short-term perspective, US Silver accuses Hecla of trying to take advantage of recently low silver and mining share prices saying the offer represents a 10 percent discount to the 180-day volume weighted average.
Glass Lewis also describes Hecla’s offer as being on “the low side.” Its proxy paper says the premiums are below the average paid for similar-sized takeover deals for silver mining companies and adds that the offer implies a 20 percent discount below the one year stock price.
US Silver further complains that the offer does not fully reflect the value of its assets and organic growth opportunities. It accuses Hecla of trying to take advantage of its cash balances to finance the offer. With approximately C$29 million in working capital, which represents 26 percent of funding for Hecla’s offer, US Silver says it is effectively only being valued at C$1.39 share.
With the stock-for-stock RX merger, US Silver claims it will acquire RX at a 34 percent discount below the stock price on the day of the announcement.
But Hecla warns shareholders that voting in favor of the RX merger will deliver significant risk, considerable debt and assets of questionable value.
US Silver has no debt and about $29 million in working capital. Hecla points out that as of March 31, RX had $1.4 million in cash and had drawn about $8 million on a credit facility.
RX responded saying that as of June 30, it had about $3 million in cash, had reduced the credit line to $7.9 million and had concentrate inventory with gross market value of approximately $6.1 million.
But Hecla’s warning didn’t stop with finances. The company says RX’s flagship property, Drumlummon, contains a number of risks and uncertainties related to achieving full production, such as the fact that it is currently operating under a smaller miners exclusion (SME), which limits a company to five acres or less of surface disturbance. Hecla says there is no certainty of obtaining full operating permits.
RX says the SME does not limit production.
Where is the added value for US Silver shareholders? Hecla asks.
US Silver board opposed to Hecla offer
Hecla does not believe the US Silver board protected shareholders rights to properly evaluate their unsolicited offer.
Hecla claims to have wanted a friendly transaction and approached US Silver on July 23. No agreement was reached and US Silver planned to proceed with the vote for the RX merger, so Hecla announced its intentions directly to shareholders July 25.
On July 26, US Silver said the board was in the process of reviewing and analyzing the offer with outside financial and legal advisers. By July 30 US Silver said the board unanimously rejected the Hecla offer and urged votes in favor of the RX merger.
Gordon Pridham, Chairman & Interim CEO of US Silver, said the board believes the proposed strategic combination transaction with RX Gold is in the best interest of shareholders.
RX and US Silver also point to those who have reaffirmed support for their merger, such as Eric Sprott, CEO and CIO of Sprott Asset Management. Sprott is a major investor in both US Silver and RX. He is also the founder of Cormark Securities.
Cormark is US Silver’s financial adviser for the RX merger and will determine fairness for the shareholders.
Much ado has also been made about the fact that Glass Lewis and another top proxy advisory firm, ISS, reaffirmed their support for the RX merger after Hecla’s offer. Their updated recommendations for shareholders to vote in favor of the merger were reported on July 31, one day after the board’s rejection of Hecla’s offer.
That was within the normal time frame for Glass Lewis, according to Grothe.
It is against Glass Lewis policy for Grothe to reveal whether the top shareholders at US Silver or RX are among its clients.
He did, however, respond to a request for clarification as to why the Hecla offer is not compelling while finding that the RX merger is.
“We believe the expected benefits of the merger, including increased production base, exposure to Drumlummon, a strong management team, cost savings and synergies and an enhanced capital markets profile- – all at a price that implies a premium for US Silver – is superior to Hecla’s unsolicited offer which isn’t that much higher than the price implied by the merger,” he said.
He also noted that the market values junior and intermediate companies on the potential of their assets.
“As such, we believe paying a discount to the market for a company with claims to quality resources located adjacent to those already owned by the buyer is indeed strategically and financially compelling.”
But, what about Hecla’s concerns about risks and quality of RX assets?
“We made sure to acknowledge Hecla’s opinion,” Grothe said. “Beyond that we defer to the board’s judgment because we don’t think we’re in a better position than the board and its advisers to determine the true risks of production or quality of assets at RX Gold’s properties, especially considering the technical nature of evaluating mining assets and operating plans.”
Grothe also reiterates that the report states Hecla’s offer represents immediate and assured value in the form of liquidity without any operational, integration, or pricing risks.
US Silver shareholders will have to decide if their appetite is for potential, eventual value or risk-free ready cash.
After Hecla’s offer announcement US Silver shares rose from about $1.40 to trade around $1.80. US Silver shareholders are scheduled to vote on August 7.
Silver Guru Eric Sprott owns 14% of US-Silver (USSIF) -
Recommends Merger with Gold Co
http://bullionnation.com/blog/silver-guru-eric-sprott-owns-14-us-silver-ussif-recommends-merger-gold-co
To Recap;
Have been with Peter ABX & Robert GG since the beginning -
since they were penny comp. like USSIF -
Darren done very well -
executed over 25 gold mining transactions -
gives a lot of golden experience
HL is a different story -
btw.
used to be a fat-cat but a Herb Tea -
made me 38 again
history often repeat itself -
ABX X smarty has to start Darren hasn't started yet
Darren Blasutti, President & Chief Executive Officer:
Mr. Blasutti was formerly Senior Vice President of Corporate Development for
Barrick Gold Corporation.
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 -
http://www.rxgold.com/investors_presentation.htm
Note;
Sir, ABX used to do very well -
history often repeat hitself -
To recap: U.S. Silver on BNN:
http://watch.bnn.ca/#clip732051
Hecla on BNN :
http://watch.bnn.ca/#clip732008
ABX, GG get involved - USA / USSIF is a PM bargain
USSIF can do much better -
its only a Ag start -
To prepare USSIF for a HL for a share exchange? -
smart hasn't started yet -
buyback can do much better don;t forget above
fiat$2.- is the name of the game GO USSIF
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78178984
God Bless
U.S. Silver Board Recommends Rejection of Hecla Offer and
Reaffirms Recommendation for Combination Transaction with
RX Gold
SPROTT CONTINUES TO SUPPORT COMBINATION TRANSACTION
http://www.newswire.ca/en/story/1013631/u-s-silver-board-recommends-rejection-of-hecla-offer-and-reaffirms-recommendation-for-combination-transaction-with-rx-gold
USSIF TA P&F Bullish Price Objective fiat$2.82 very oversold & undervalued
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 -
Directed at the RXE board posters, not SilverGoldenApple:
As I've said on the USSIF board, this merger is good for both companies, apparently better for RXEXF than USSIF, since RXE needs money and USS has $25 million cash.
Now RXE has money and USS has gold as well as a new president. With the expulsion of the expensive and corrupt CFO, it appears that a cleanup is in progress.
Let's hope it continues that direction. There appears to be a bright future ahead for the new US Silver & Gold, as we grow together and expand.
Dee
This is a very "negative biased" perspective regarding our new management team. Even if it is all true it was written to cause negative feelings about the merger. The question I immediately ask myself is this. Is there anything good about the new management? We need to be careful what we read regarding them. Nothing is being posted much about how capable they are or of how happy we are that USSIF has found a strong, sound management team which is desperately needed to take our little company to the next level. They have lots of experience and are "Wall Street Savy". If you do not feel the same way that I do then you should consider selling your shares immediately because that would be a strong fundamental sell signal. Personally, "I'm feeling very good" about them.
Hey DeeDog--I still follow US Silver even though I currently don't own shares. I was pretty surprised to see this deal with RX Exploration and it will be interesting to see what transpires.
I remember first reading about RX in the newspaper here--how they had jewelry-grade gold and had already drained the water out of the once-productive Drumlummon Mine, etc.
Then insiders tripped over themselves to cash in prematurely and that disgusted many shareholders--including me--and we sold. I haven't paid close attention since then, but maybe I will now. I'm wondering if they're still trucking ore all the way over to Philipsburg for processing. I wonder if they settled the lawsuit. I wonder if they finally got the management sorted out. I'll have to check it all out.
A QE3 will relaunch gold and silver. Or maybe not--the central banks think they're going to control everything including the price of precious metals. Maybe they can continue to paper it all over. What a mess we're all in because we didn't stop the bankers when we had the chance. They should be in prison and instead they continue their power grab...
Hey there Montanore, sounds like a merger with USSIF is just what's needed for RXEXF. Also sounds like they didn't get rid of the CFO soon enough.
Some of the USS shareholders are upset because of all the debt we are inheriting at USSilver. USS has $25 million cash...RX is in debt. I hope this merger is good for us all.
I have to think Sprott knows what he is doing. I just hope it's in the interest of shareholders of both companies.
Of course he is a major shareholder of both, and having bought most of his USSIF shares at over 3.50 (.70 pre-split), he is in the same boat I and many others are. Today's price is only about 40% of that amount.
Dee
Toronto, ON, June 7, 2012—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:
o Combined production base of 2.7 million1 ounces of silver and 26,5001 ounces of gold o Opportunities for significant resource growth, brownfield development and operational
and head office synergies
o Meaningful organic exploration potential at Drumlummon and Silver Valley areas
o 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.
Now the company is getting sued by the former mining foreman. They fired him after he refused to cut corners on safety procedures. He's suing. Read it in the paper today.
Maybe now they can concentrate on getting the gold. That mine definitely is undervalued!
A total of 80,100,790 or 55.8% percent of all voted shares were cast for the
election of the following directors nominated by management of the Corporation
as set forth in the amendment to the management information circular dated June
12, 2011: Hugh Agro, Darren Blasutti, Alex Davidson, Louis Dionne, John F.
O'Donnell, Paul Parisotto, John Ryan and Lorie Waisberg. These nominees were
declared elected by the Independent Chairman of the Meeting, Philip C. Moore.
"The past few months have been a trying time for the Company and its
shareholders due to the proxy contest. The contest has distracted investors from
the real story, the under-valued nature of the Company's assets," said Darren
Blasutti who was named President and Chief Executive Officer by the new Board.
"The new Board intends to earn the trust of all shareholders and in the coming
weeks and months, I look forward to meeting with our shareholders and sharing
our vision for the Company."
Mr. Blasutti continued, "The Company's main asset, the Drumlummon gold project
is a high-grade gold/silver asset advancing toward production with attractive
upside potential and the new Board of RXE looks forward to exploring and
developing it expeditiously. I want to thank our employees in Montana for
working steadfastly on this project and I believe that their continued dedicated
efforts will result in tangible value creation for all shareholders."
Added Mr. Blasutti, "I want to take this opportunity to thank Messrs. Ellwood,
and Teodorovici for their hard work in getting RX Exploration to its current
heights and wish them well in their future endeavors."
In addition to the vote for the Board, shareholders voted in favour of the
following three resolutions:
-- The re-appointment of Collins Barrow LLP as auditors of the Corporation
for the ensuing year and authorizing the directors to fix the
remuneration of the auditors;
-- The resolution ratifying the rolling stock option plan of the
Corporation, as set out in the management information circular dated May
9, 2011;
-- The resolution approving the adoption of a new general by-law, as set
out in the management information circular dated May 9, 2011.
Appointments by the Board
Following the Meeting of Shareholders RX Exploration's Board of Directors met
and made the following appointments:
-- Lorie Waisberg was appointed as the Chairman of the Board of Directors;
-- Darren Blasutti was named President and Chief Executive Officer of RXE;
-- Louis Dionne was appointed Chairman of the Health, Safety and
Environment Committee;
-- Alex Davidson was appointed Chairman of the Compensation and Governance
Committee;
-- Paul Parisotto was appointed Chairman of the Audit Committee.
This is really good DD and I've read some of it before on other boards and sources. It's why I sold my shares and I'm still waiting for the dust to settle. Of course Nye, Gunslinger and Polinsky see things differently--they say they are building value and 'trust.' What I saw were people using the publicity of the promising Drumlummon mine to make sure they stuff their pockets first and foremost and as soon as possible.
----
WINNIPEG, MANITOBA, Jun 21, 2011 (MARKETWIRE via COMTEX) -- The Concerned Shareholders of RX Exploration Inc. ("RX Exploration" or the "Company"), Bob Bannerman, Mike Gunsinger, Murray Nye and Max Polinsky (the "Concerned Shareholders"), continue to receive a remarkable level of support from shareholders with respect to the annual and special meeting of shareholders to be held on July 6, 2011 at 4:30 p.m. (EST).
Shareholders are reminded to vote their GOLD proxy today to ensure that the disruptive actions of the current board of directors do not continue to obstruct the Concerned Shareholders' plan to generate increases in revenues sooner and create greater value for shareholders over a shorter period of time, while impressively distinguishing RX Exploration in the competitive junior mining exploration market.
The Concerned Shareholders continue to receive significant shareholder support.
"The Concerned Shareholders continue to receive a positive reaction from shareholders who are frustrated with the current board and are excited about our vision for RX Exploration. We remain confident that we will have the support of the majority of shareholders on July 6, 2011," stated Concerned Shareholder Bob Bannerman. "However, given the actions of the current board, we urge shareholders to protect their investment and keep the proxies coming by voting your GOLD proxy today."
The Concerned Shareholders want to reassure important stakeholders like the State of Montana that, once this unfortunate proxy contest has concluded, the Concerned Shareholders intend to continue to mine and mill gold and silver from the Drumlummon mine.
The Concerned Shareholders have invested a great deal of time and personal capital in developing trust and forging strong relationships with the political and regulatory leadership of the State of Montana. The Concerned Shareholders have developed the Drumlummon mine into a premier underground narrow vein production site. They have succeeded in developing a best-in-class mine in the state of Montana where others have repeatedly failed. Praise for the accomplishments of the Concerned Shareholders includes accolades from Robin McCulloch, a mining engineer with the Montana Bureau of Mines and Geology.
The Concerned Shareholders wish to emphasize to shareholders the importance of the positive, long-standing relationships forged in the State of Montana, which are built on trust, honesty and integrity. Concerned Shareholder and CEO Murray Nye, at the personal invitation of Montana State Governor Brian Schweitzer, attended the 2011 State of the State Address. At the Address, the Governor introduced Mr. Nye, who received a standing ovation from those in attendance. The Governor, in addressing Mr. Nye ( http://governor.mt.gov/speeches/speeches.asp?ID=182 ), stated: "Thank you for taking a risk and thank you for employing a hundred and forty Montanans." It's these relationships which illustrate the success of the Concerned Shareholders in managing the Company, and which underpins a true foundation on which to build lasting shareholder value.
The Concerned Shareholders will continue to honour their commitments to the employees and key professionals who have made personal sacrifices to ensure the success of the Drumlummon mine.
The Concerned Shareholders have brought the mine to production on time and on budget. This is proven performance by miners who know the mine, the business and the complex regulatory framework in the state of Montana.
Shareholders are asked to vote their GOLD proxy today to support the Concerned Shareholder Nominees and enable them to protect what they have built and to move forward to increasing shareholder value.
Support the Concerned Shareholders and protect your investment by voting ONLY your GOLD proxy by the proxy voting deadline, July 4, 2011 at 10:00 a.m.
At the moment RXE is managed by three men:
Murray Nye - the only employee
Max Polinsky - former CFO and a contractor to Venbanc (a company he owns 50/50 with Murray Nye)
Mike Gunsinger - an independent contractor paid $625,000+ in 2010.
They are responsible for focusing upon Drumlummon and making us ALL rich. Our mutual alignment parts ways when:
1.theyattempt to mislead shareholders about the origin of mill feedstock inthe June 22, 2011 Press release - and this is easily verifiedby examining the samples already published for "D Block", Charly,Christmas and Empire Veins; the Dissidents are processing back-fillthrough the mill.
2. they spent millions of dollars on core drilling since 2008 and has yet to deliver an updated 43-101 to scope the magnitude of the reserves of Drumlummon vein complex.
3. the former CFO wrote checks totaling $60,000 to himself without Board approval or accountability,
4.The formerCFO is relieved of his duties because he lied to the Board of Directorsabout terms and conditions surrounding $1.5 Million capital equipment purchase which he told the board was a lease,
5. all three (3) participated in creating a company to compete with RXE - "Montana Gold Mining Company" - in the eventyou've forgotten, Max and Murray still hold control of "MontanaGold Mining Company" The former CFO is currently a Director of "MontanaGold Mining Company".
6. they subjectively and arbitrarily decide which assets belong to Drumlummon and which assets belong to "Montana Gold Mining Company" - Silver Bell JV outside of Silver City, MT.
7. the CFO Loaned $50,000 to a private company under his personal control without Board approval - "G3 Minerals",
8. they engage in hiding MSHA violations, and associated fines from Shareholders,
9. they accuse others of nepotism while ignoring the despotism of Mike Gunsinger hiring his son to dig the "Gunsinger Decline" for $10+ Million - seems a bit self-serving no?
10. they entered into a non-exclusive lease of Roy Moen's Philipsburg Mill without informing shareholders that we are paying $30,000/mo + 2% royalty to Roy Moen; for which we have Drumlummon Feedstock set-aside in favor of other companies,
11. the CFO took a 7-figure junket to Europe in search of "investors"-without beingsituationally aware that Europe is a bit distracted with being Europe atthe moment - one of the 3Ms flew in the wrong direction -he should havegone to Hong Kong or Shanghai if he was serious about raising money.
12.theycannot remain focused upon getting ore out of Drumlummon and maximizingthe Philipsburg Mill. We recently received a PR suggesting they are intalks to get Bald Butte Molybdenum deposit into a JV to exploit. I could give a damn about Moly - RXE's Mission statement says :
RX ExplorationInc.'s strategy is to re-examine mineral projects within North Americathat have previously reached advanced exploration,underground developmentorpast gold or silver production.
http://www.rxexploration.com/
In my opinion, that means RXE is a Gold Mining company who enters existing properties to exploit today's spot price....not unlike the mission statement of Montana Gold Mining Company controlled by Murray and Max:
Montana Gold Mining Company Inc. (“MGM” or the “Company”) was formed to acquire and re-examine goldand silver projects, on a selective basis,that have previously reachedadvanced exploration, underground development or past production. The Company is particularly interested in gold projects located within the mining friendly State of Montana,USA.
Why do we want men running RXE company who operate a competitor?
Why do we want men running RXE company who took a competitor public early this year - when they were supposedly managing RXE.....after being collectively paid over $1.5million in 2010?
All Murray and Max would have had to do to get my vote is get a Drumlummon 43-101 out in June 2011 (as previously promised) and stay focused upon Drumlummon..."these dogs can't seem to stay on the porch
The size of this mine cannot be emphasized enough.
It's enormous.
Potentially one of the largest in the world and that's what the fighting is all about.
Previous mining efforts left the tailings behind because gold was a pitance compared to what it is today. Just processing the tailings has resulted in millions of dollars in revenues and the Charly Vein has not been touched.
Google Drumlummon and read. It's all true.
Anyone else received telephone calls as to how they should vote?
It's a shame. Could be a blockbuster mine and insiders are tripping over each other and fighting and cutting giant checks and...well, just check out the latest PR. Looks like many wanted giant paydays now...forget about developing the mine.
Sickening.
This could do real well if everyone got on board. Makes me wonder why management was trying to enrich themselves so early. Any update on the OS and have they given themselves options warrants and preferreds?
Too much in-fighting. Too much proxy BS.
RX EXPLORATION INC. ("RXE" or the "Company") (TSX VENTURE:RXE)(OTCQX:RXEXF)
announced today the appointment of a special committee of the board of directors
(the "Special Committee").
The Special Committee has been appointed to supervise the business and to
preserve stakeholder value in the Company in light of the recent actions taken
by a group of dissidents, including the President & CEO of RXE.
The Special Committee consists of the following members from the Company's
current board of directors: John F. O'Donnell, LLB, John A. Ryan, CGA, Edward L.
Ellwood, MBA, and Paul V. Teodorovici. John F. O'Donnell will serve as Chair of
the Special Committee.
The Company has retained Goodmans LLP and Laurel Hill Advisory Group to advise
the Special Committee.
RX Exploration intersects 504.8 g/t gold
and 4,370 g/t silver over half a metre
Nearly 15 ounces per ton is jewelry grade...not just bonanza grade.
Why isn't this over a buck already?
RX Exploration Intersects 504.8 g/t Gold and 4,370 g/t Silver over Half a MetreLast update: 3/30/2011 9:04:00 AMWINNIPEG, Manitoba, Mar 30, 2011 (BUSINESS WIRE)
-- RX Exploration Inc. (CA:RXE) (otcqx:RXEXF) ("RX Exploration" or the "Company") is pleased to announce results from two additional underground drill holes that have intersected high-grade gold and silver mineralization in the D-Block zone and five holes from the D Block South zone at its 100%-owned Drumlummon Mine Montana. (In this release "g/t" means grams per tonne, "opt" means ounces per ton.)
A narrow but very high-grade mineralized zone was intersected within the D-Block zone. Drilling indicates that this stringer-style, bonanza grade mineralization is hosted within a wider zone of mineralized material. Assay results from drill holes 11-249 and 281 are outlined in the following table.
Hole From To Interval Gold Silver Estimated Number True Width--------- ---- ---- --------- ------------ ------------- --------- D-Block (ft) (ft) (ft) (m) (opt) (g/t) (opt) (g/t) (ft) (m)--------- ---- ---- ---- ----- ------ ------ ------ ------- ---- ----- 11-249 70 104 34 10.36 0.221 7.58 1.53 52.46 34 10.36--------- ---- ---- ---- ----- ------ ------ ------ ------- ---- ----- 11-281 84 100 16 4.88 1.959 67.17 18.22 624.69 13.3 4.05--------- ---- ---- ---- ----- ------ ------ ------ ------- ---- ----- including 84 86 2 0.61 14.724 504.82 127.46 4370.06 1.7 0.52--------- ---- ---- ---- ----- ------ ------ ------ ------- ---- -----Drilling is also continuing on the D-Block South zone from Drill Station 12. Please refer to the diagram "Drill Plan Map" for drill station and target locations. Highlights of recently completed D-Block South holes are in the following table.
Hole From To Interval Gold Silver Estimated Number True Width------------- ---- ---- --------- ---------- ----------- -------- D-Block South (ft) (ft) (ft) (m) (opt) (g/t) (opt) (g/t) (ft) (m)------------- ---- ---- ---- ----- ----- ----- ----- ------ ---- ---- 11-298 104 140 36 10.97 0.322 11.04 1.71 58.63 29.1 8.87------------- ---- ---- ---- ----- ----- ----- ----- ------ ---- ---- including 116 122 6 1.83 1.255 43.03 14.43 494.74 4.9 1.49------------- ---- ---- ---- ----- ----- ----- ----- ------ ---- ---- 11-300 94 120 26 7.92 0.236 8.09 0.96 32.91 24.7 7.53------------- ---- ---- ---- ----- ----- ----- ----- ------ ---- ---- 11-305 114 134 20 6.10 0.16 5.49 0.465 15.94 16.1 4.91------------- ---- ---- ---- ----- ----- ----- ----- ------ ---- ---- 11-308 80 84 4 1.22 2.789 95.62 15.38 527.31 3.2 0.98------------- ---- ---- ---- ----- ----- ----- ----- ------ ---- ---- 11-311 106 136 30 9.14 0.264 9.05 1.3 44.57 26.7 8.14------------- ---- ---- ---- ----- ----- ----- ----- ------ ---- ---- incl. 130 134 4 1.22 0.941 32.26 3.2 109.71 3.6 1.10------------- ---- ---- ---- ----- ----- ----- ----- ------ ---- ----
These new assay results from the D-Block South zone, combined with earlier results announced in the news release dated March 15, 2011 continue to expand the size of the D block South zone. "So far, the drill program in the D-Block South area has outlined a mineralized zone measuring 100 ft long, 20-to-30 ft wide and 100-to-150 ft down dip and grading in excess of 0.15 opt gold and 1 opt silver," commented Murray Nye, President of RX Exploration. "Our mining engineers believe that this mineralized zone could be easily mined by long-hole methods. Current underground development is within 100 ft of the D-Block South zone on two separate levels allowing easy access to this potential resource. D-Block and D-Block South are part of the main Drumlummon vein system that was originally mined in the late 1800's. In the 1980's previous operators reported the presence of 160,000 tons of mineralized material in "D" Block, below the 400 foot level, grading 0.4 oz/ton gold and 4.0 oz/ton silver. These figures are historical in nature, are not 43-101 compliant, and should not be relied upon by investors. RX Exploration has been drill testing the D-Block, D-Block South, Xmas and Charly vein systems from drill stations 9, 10, 11, and 12 as part of an ongoing 70,000 ft. underground drilling campaign. The current drill program will allow the company to update its NI-43-101 resource estimate which at the moment only outlines resources in the Charly Vein. Additional results will be released as they become available. Quality Control/Quality Assurance (QC/QA) Drill core is logged, photographed, and cut in half with a diamond saw. One half is fire assayed in the on-site lab, or at Mt. Powell Lab, Deerlodge, MT; the other half is archived and stored on site. For QC/QA purposes standards, blanks, and repeats are randomly inserted into the sample stream. Selected samples of pulps and rejects are sent to ALS Chemex Lab, Reno, NV for verification assaying. Chemex assay results of duplicates have confirmed the accuracy of the assay results from the on-site lab on a continuing basis. L. Joseph Bardswich, P.Eng. (Mining) (Ontario) is the qualified person responsible for reviewing the technical details in this press release for content and accuracy. About RX Exploration RX Exploration Inc. is a gold exploration company whose strategy is to re-examine gold and silver projects within North America that have previously reached advanced exploration, underground development or past gold or silver production. The Company is currently focused on re-starting production from its Drumlummon Mine, a past producing high-grade, bonanza-type, epithermal underground gold and silver mine in Montana. Ore from a test mining program was trucked to and processed in a leased mill located in Philipsburg, Montana in the May to December, 2010 period. The Company's shares are listed on TSX-V (symbol:RXE) and on the OTCQX (symbol:RXEXF). There are 159,942,605 common shares issued and outstanding. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the Company's anticipated operational plans and activities including its plans to conduct additional surface and underground diamond drilling. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding its ability to complete its development work as expected. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company's continued development work, technical, safety or regulatory issues. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law SOURCE: RX Exploration Inc.
RX Exploration Inc. Murray R. Nye, President (204) 989-2434 Copyright Business
No Change in Weekly Comment: RXEXF: RXE.V: (Canadian Company) RXEXF will show investors this could turn into a major gold mining play over the next 5 years. This company will eventually surprise investors. They have gold and lots of it. They now have mining permits so I expect 2011 could be an interesting year for this company. They story is real and interesting do your DD. Close .62
http://www.otcmarkets.com/stock/RXEXF/company-info
Be First With First Alert
help me
This remains dormant, but I still think it can come to life with good news of more gold resources discovered.
Meanwhile...it stays on the back burner.
STANDARD & POOR'S INITIATES FACTUAL STOCK REPORT COVERAGE ON RX EXPLORATION, INC.
"...
The company's flagship project, the Drumlummon Gold and Silver Mine, is located near Marysville, Montana. The mine has never been fully exploited or explored and material that was once considered waste is now potentially economic. In addition, the company has discovered a series of entirely new high-grade gold and silver veins that remain open for expansion in all directions.
The governmental permits required to proceed with restarting operations have been obtained by RX Exploration, and the company is proceeding with dewatering and is test mining and milling, approaching a rate of 300 tons per day.
NI 43-101 compliant inferred resources on the Charly Vein system at the Drumlummon Mine amount to 155,518 tons averaging 0.45 ounces per ton (15.4 grams per ton) gold and 12.3 ounces per ton (421 grams per ton) silver. The resources contain 70,703 ounces of gold and 1,915,560 ounces of silver.
..."
http://www.reuters.com/article/idUS119248+13-Dec-2010+BW20101213$$314510388
We now have MMs lined up...stock is looking much better ready to move towards $1 imo.
help me
RX Exploration Commences New Decline at Drumlummon
Mining Contractor Wins Safety Award
November 4, 2010
Winnipeg, Canada ? RX Exploration Inc. (TSX-V: RXE) (OTCQX: RXEXF) (?RX Exploration? or the ?Company?) has commenced the construction of a new main decline to access the 600 level of the Drumlummon Mine, Marysville, Montana.
The new decline has been collared on the northern slope of Drumlummon Ridge, 1,200 feet east of the Maskelyne Tunnel portal, the mine?s current access point. The new decline will measure 12 feet high x 15 feet wide, and will be driven at a slope of -7.6% for a distance of 1,760 feet in a southerly direction. The new decline is designed to pass beneath old workings on the Castleton Vein, and then flatten out on the 600 level to connect with the interior ramp currently being driven northerly from the area of the Charly Vein. The new decline is expected to be 2,485 feet long once completed.
The new decline will provide a secondary access/escape-way into/from the new Charly Vein workings, provide an additional airway option for ventilation and allow access for larger equipment. This will increase efficiencies and eliminate the multiple handling of ore and waste as is presently required when using the Maskelyne Tunnel access. The Company estimates that this new decline will provide the capacity to remove about 1,500 tonnes per day of mill feed or waste rock. In addition, drill stations can be built along the decline to drill test unexplored portions of the Drumlummon, Frankie and Empire Veins.
New Millennium Mining Contracting LLC (?New Millenium?), the Drumlummon Mine Operator, will excavate the new decline. On October 27, 2010, New Millennium was awarded the 2009 Sentinel of Safety Award, sponsored by the federal Mine Safety and Health Administration (?MSHA?), for its work at the Drumlummon Mine. New Millennium was the State of Montana winner and National runner-up in the category of small underground metal/non-metal mines.
?RX Exploration extends its congratulations to New Millennium and to its employees for winning the 2009 Sentinel of Safety Award? said RX Exploration?s President Murray Nye.
L. Joseph Bardswich, P.Eng. (Mining) (Ontario) is the qualified person responsible for reviewing this press release for content and accuracy.
About RX Exploration
RX Exploration Inc. is a gold exploration company whose strategy is to re-examine gold projects within North America that have previously reached advanced exploration, underground development or past gold production. The Company is currently focused on re-starting production from its Drumlummon Mine, a past producing high-grade, bonanza-type, epithermal underground gold and silver mine in Montana. Ore from a current test mining program is being trucked to and processed in a leased mill located in Phillipsburg, Montana.
For further information please contact:
Murray R. Nye, President
(204) 989-2434
The Company?s shares are listed on TSX-V (Symbol: RXE) and on the OTCQX (Symbol: RXEXF). There are 129,889,931 common shares issued and outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the Company?s anticipated operational plans and activities including its plans to drive a new decline to the 600 level for a planned total distance of 2,485 feet.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding its ability to complete its development work as expected. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company?s continued development work, technical, safety or regulatory issues.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company?s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law
OS:
111,436,331
AS:
195,094,000.
authorised?
I think we need some O/S and some info on cap.
RX to get upgraded...
SAN FRANCISCO, Oct. 27 /PRNewswire/ -- Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (Nasdaq:MERR - News), announced today that it will serve as the Principal American Liaison (PAL) for RX Exploration Inc. (TSXV: RXE; OTCQX: RXEXF) as it lists on OTCQX®.
RX Exploration Inc. - 2010
www.rxexploration.com
RX Exploration Inc. (TSX-V: RXE) (the Company or RX) produced 1,378 ounces of gold (Au) and 20,981 ounces of silver (Ag) during July, 2010 as a result of the bulk metallurgical test-work program ongoing at the Companys 100% owned Drumlummon Mine,
The Drumlummon Mine is located near Marysville, Montana, about 25 miles west of the Montana state capital, Helena.
2010 Work Programs
The Company’s goals for 2010 are to develop an underground decline to the 600 foot level in order to access the Charly Veins and the D Block zones; conduct test mining on the Charly Veins and D-Block zones; complete metallurgical testing; and continue to outline the resource through underground drilling and drifting.
In April, 2010 the Company announced reaching the Charley Vein at the 500 foot level with the underground decline. Channel sampling of the Charly Vein returned an average of 3.13 opt gold and 55.6 opt silver across the vein width of 7.4 feet.
http://www.rxexploration.com/properties/drumlummon/
The volume for RXE on friday, Oct 8, 2010, was 1,466,200 on the TSX-V exchange closing at $0.74.
When you call in and receive a quote the quote is the same as the Canadian quote. If you go .003 above offer such as .613 your fill can be in-between bid and offer. I know this as fact cuz this is the only way I was able to get filled and I was never filled at offer but under offer. The main drivers of this stock are not US investors.
I have a close childhood friend that lives relatively close to this mine and I can tell you they have a lot more then what we know about. The geologist is local.... Also permits have been applied to start real mining not just bulk sampling where they are restricted on tonnage to samples only at this time. Even at that major dollars are being booked imo.
Also watch for earnings. I think earnings could take the price over $1.00 jmo.
Nice chatting with you...I think we have a major winner.
help me
P.S. WOLV? You better to some serious DD on that one. Had our feathers ruffled last week but when they do IP and start drilling the throat with a 1000ft drill assays will change.
You need to realize that most American investors can't buy stock in this company without buying the F. What you say is correct, but you are ignoring the fact that there has been very little interest (so far) from American investors. Hence the low volume.
Compare this to what has happened with US Silver. Tremendous volume is pouring in from American investors (USSIF). The price has more than doubled in about a month. Canadians might be able to match that here, but I doubt it. We need US investors to start buying up RXEXF.
"There [SIC] volume doesn't show on the F gray trading status. "
No kidding. You think we don't know this basic fact? Come on. We don't need such patronizing. We deserve more respect than that.
PS. Too bad about WOLV.
You need to look where this company is actually trading before comments of no volume. This is a Canadian company not an American company. There volume doesn't show on the F gray trading status. Please learn to do DD in a respectful manner to the investment you are writing about.
Help me
http://tmx.quotemedia.com/quote.php?qm_symbol=rxe&locale=EN
I think that is just the start of green days on this one
well if they have what i think they have no one is going to selling for a 15 cent gain...
Something to remember regarding RX. They have approx. 70M warrants outstanding at .40. That's a lot of stock so it's not unreasonable to think folks are trading .55 - .57 stock for 0.40.
Some of the warrants come due next year. So we either wait for the warrants to expire, or there is a HUGE demand for the stock that convinces folks to leave their money on the table.
It will, im just set and waiting
I started the US Silver board. For awhile it was just me. Then NY Bob showed up and for a long time it was just two people. Now we have 69 board marks and the stock went from a nickel to .28 cents.
I expect the same thing can and will happen here.
well if you look at the board no one is following yet, it looks as it is just me and u, and im not going anywhere, it will start getting more busy around here and the price will start moving up
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Winnipeg, Canada – RX Exploration Inc. (CNSX: RXE) (the “Company”) completed 58.6 meters (192 ft) of drifting along the Charly Vein at the Company’s Drumlummon Gold Silver Mine, Montana to the end of April, 2010. Assays taken across the face of the vein after each blast yielded a cumulative average grade of 41 g/t gold (1.2 opt) and 973 g/t silver (28.4 opt) over an average drift width of 2.5 meters (8.1 ft). The Charly Vein system was discovered by the Company through drilling in 2008 and is open along strike as well as to depth. (“g/t” is grams per tonne and “opt” are ounces per short ton)
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