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immediately after Hale collected the collateral via their subsidiary Crescent Silver in 2014 via the bankruptcy proceedings, a PEA was commissioned & completed (2015) . (quote) "The results of this assessment were positive suggesting an advancement of the project to preliminary-feasibility."
(quoted from: https://www.crescentsilverllc.com/crescent-silver-mining/about.html )
If USC had such a supposedly great asset, why did they have to go under in the first place ??
Nah, all just coincidence, as usual (insert wink, wink here)
Don't know about 2015. The demand from China + India, uncertain world we live in, huge government debts, all point to rather dramatic events in future. Just don't know when !
Hopefully yet in 2015???
Signing off for today.
Agree no hurry though I am starting slowly. Who knows when market will turn, I think 2016 but could be earlier.
Currently in US Gold & Silver trough a merger. Looking at getting back into NJMC and or a new position in Hecla. No hurry to do any.
Hear anything will let you know ! right now accumulating Hecla, and sometimes NJMC and CHMN. otherwise Silver Valley stocks seem to either disappear or get taken over as shells. Without Magnuson or De Motte things seem pretty quiet.
At Sunshine Kaplan is waiting for right moment to go public. What gossip says is they keep getting great drill results from the areas De Motte and Mclean targeted for future expansion- if De Motte and Mclean hadn't built the Sterling Tunnel and drilled in upper country, those areas would probably have been unexplored forever.
Bunker Hill dead until someone can payoff EPA.
Galena just one unit in new US Silver and Gold, but maybe a long term speculation.
So that leaves blue-chip Hecla Mining, with good expansion at Lucky Friday. Except for a few solid oil stocks, I think Hecla one of best investments around if one steadily accumulates and average your cost. Should be $6 to $12 stock in a few years.
Indeed.
Please keep us posted as to any new developments.
Me too. Wish he would start up his website or a blog, he was good source of information and wrote well.
I hope that he does so soon.
The Sterling rounds probably mostly melted down so figure best to keep for a while. Bond had a website for a which gave all the happenings around the valley. Sunshine since Ray De Motte left not producing, and since Bob Hopper died nothing much going on at Bunker Hill. Amazing, biggest lead and the biggest silver mine in USA, both not producing. Maybe Bond will put out the whole story one day.
I would love to read Bond's book when it comes out.
We have some rounds, also. My wife has a Sunshine Mine sweatshirt in like new condition. Maybe the next time we attend the Summit she will wear it?
2003-2006 great time for Silver Valley ! Still have some of the silver rounds Sterling minted. May the good times come again, maybe in 2016 ! Bond I hear writing a book.
I wholeheartedly agree.
The Silver Summit was great conference until it moved to Spokane. It was so unique having the mine tours.De Motte and Bond were part of original group that set up Silver Summit. Wallace still has street sign marking Center of the Universe.
Metal stocks run in cycles, a few years good and a few years bad. I think Hecla great for long run. New Jersey and Chester interesting speculations. Otherwise Silver Valley stocks seem to be going the way of United Silver. Just have to be patient I think !
Yes, it was quit an experience. We also were at the same table for a luncheon with Ray De Motte. We spoke briefly. We were on a tour with journalist David Bond as our guide, and had breakfast with him one morning. We tasted with the mayor of Wallace the celebration of manhole cover denoting Wallace as the Capital of the Universe.
In the coming years New Jersey and a few others may again be worthwhile investments?
Yes the second Silver Summit quite an experience. just came across this post. All the greats in Silver Valley either deceased or gone ( Magnuson, Hopper, De Motte) only Hecla Mining/Phil Baker left. US Silver now equally focused in other areas, United Silver Gone, Sunshine not public. Hecla, New Jersey, and maybe Chester Mining last plays on the valley.
Second Silver Summit ended with celebration in Wallace as early ones did. Hopper a true legend at the Bunker Hill.
maybe Hale converted the remaining debt to shares after all for their 'future plans' (once silver takes off)? Do you know how to confirm this, NYBob? I have only been able to find the "notice of intent" on SEDAR & Hale would not answer a direct inquiry. Also, someone is consistently sucking up shares at the bid on the OTC where it still trades (USCZF). intriguing....
For what it's worth; I contacted the court-appointed receiver (Duff&Phelps in Canada) & was advised that the proceedings have been completed. The outcome was that the mining assets were foreclosed upon by the secured creditor. There are no assets remaining in the USC entity.
whoever wants to read up, can find the details here:
http://www.duffandphelps.com/intl/en-ca/Pages/RestructuringCases.aspx?caseId=933
Hale Capital Partners (the secured creditor) acquired all the assets & now owns the Crescent Mine through its subsidiary 'Crescent Silver LLC':
http://www.marketwatch.com/story/hale-capital-partners-announces-acquisition-of-substantially-all-of-the-assets-of-united-mine-services-inc-2014-04-22
UNITED SILVER CORP ORD (USCZF)
Exchange: OTC Pink
http://web.tmxmoney.com/article.php?newsid=64995165&qm_symbol=USCZF:US
http://web.tmxmoney.com/article.php?newsid=65001552&qm_symbol=USCZF:US
UNITED SILVER CORP ORD (USCZF)
Exchange: OTC Pink
http://web.tmxmoney.com/article.php?newsid=64995165&qm_symbol=USCZF:US
United Silver Corp. Announces the Court-Appointment of a Receiver
http://web.tmxmoney.com/article.php?newsid=64995165&qm_symbol=USCZF:US
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 9, 2014) -
United Silver Corp.
(TSX:USC)(OTCQX:USCZF)(FRANKFURT:UM8) (the "Company" or "USC")
announces that pursuant to an order of the Ontario Superior Court
of Justice (Commercial List) dated January 9, 2014,
Duff & Phelps Canada Restructuring Inc.
was appointed as receiver and manager ("Receiver") of the
property, assets and undertaking of
USC and the Receiver has been advised
that the directors of USC have resigned.
The Receiver was appointed pursuant to an application brought by
USC's secured creditor, HUSC, LLC ("HUSC").
The stability and certainty of a Court-supervised receivership is expected to assist to protect the business and preserve the value of the assets of USC, including the Crescent Mine, in which USC has an indirect 80% ownership interest. The Court-supervised receivership is also expected to provide a mechanism to address the Company's short term liquidity requirements. HUSC has indicated that it intends to foreclose on the assets of USC's operating subsidiaries, which are not subject to the receivership proceedings, in accordance with security agreements granted previously by the subsidiaries to HUSC in 2012.
A copy of the Court Order and information related to the Company's receivership proceedings can be accessed at:
http://www.duffandphelps.com/services/investment_banking/Pages/RestructuringCases.aspx
ABOUT UNITED SILVER CORP.
USC is a vertically integrated Canadian mining company with operations in Idaho, USA. It has an 80% interest in the Crescent Silver Mine project in the Silver Valley's prolific Silver Belt - directly between two of the district's historically largest silver producing properties, the Sunshine and Bunker Hill mines. USC also offers a full suite of mining services including contract mining and providing a complete fabrication shop and service for building and repairing mining equipment to silver miners in the district. USC's common shares trade on the Toronto Stock Exchange under the symbol "USC". For more information about USC, please visit: www.unitedsilvercorp.com
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include that the Court-supervised receivership is expected to assist to protect the business and preserve the value of the assets of USC, including the Crescent Mine, that the Court-supervised receivership is expected to provide a mechanism to address the Company's short term liquidity requirements, and that HUSC intends to foreclose on the assets of USC's operating subsidiaries.
These forward-looking statements are based on the opinions and estimates of the Receiver. They are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include the process and outcome of the receivership, including the ability to consummate a sale of the Company and/or its assets; the ability to obtain the Court's approval with respect to motions in the receivership, including approval of any proposed sale of the Company and/or its assets; risks associated with third-party motions to the Court in connection with the receivership; the potential effects of the receivership on the Company's liquidity or results of operations; the Company's ability to maintain contracts that are critical to its operations, to obtain and maintain normal terms with customers, suppliers and service providers and to retain key executives, managers and employees; changes in external market factors; changes in the Company's business or strategy or an inability to execute its strategy due to changes in its industry or the economy generally; changing costs for mining and processing and their impact on the cut off value established; increased capital costs; changing forecasts of mine production rates; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work; the availability of labour, equipment and markets for the products produced; market pricing for the products produced; our possible inability to service our debts and pay liabilities as they become due; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company and the Receiver assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
David Sieradzki
Duff & Phelps Canada Restructuring Inc.
(647) 497-9470
(416) 932-6030
David.Sieradzki@duffandphelps.com
chemist99' on 'United Silver Corp. (USC)
following mark #6 to you my friend -
United Silver Announces Results of Annual Shareholders' Meeting, Resignation of Director and Adoption of Majority Voting Policy
http://www.unitedsilvercorp.com/s/NewsReleases.asp?ReportID=609997
http://www.unitedsilvercorp.com/s/Home.asp
God Bless
United Silver Corp (USC)
0.02 ? -0.005 (-20.00%)
Volume: 1,000 @ 9:30:00 AM ET
Bid Ask Day's Range
0.02 0.03 0.02 - 0.02
USC Detailed Quote Wiki
United Silver Corp (USC)
0.04 ? 0.0 (0.00%)
Volume: 100,000 @ 2:53:57 PM ET
Bid Ask Day's Range
0.035 0.04 0.04 - 0.04
USC Detailed Quote Wiki
Massive Debt Levels Will Push Silver To $150 And Beyond -
http://www.silverseek.com/article/massive-debt-levels-will-push-silver-150-and-beyond-12453
Gold Will Go to $6,000 - $7,000' - Author Bob Wiedemer of
The Aftershock Investor -
http://www.youtube.com/watch?v=KFSO5G8Xfr4
should be an interesting meeting. I continue to be hopeful. IMHO, sitting on mountain of silver & a PEA that's so sensitive to the price of silver (which, IMHO, is bound to go much, much higher), has got to be worth enough as collateral for a bridge loan...
United Silver Corp. Sets Date of Annual Shareholders’ Meeting
United Silver Corp (TSX:USC)
Historical Stock Chart
1 Month : From Aug 2013 to Sep 2013
Click Here for more United Silver Corp Charts.
United Silver Corp. (“United Silver Corp.”, the “Company”, or “USC”: TSX; USC: OTC; USCZF: Frankfurt: UM8) announces that it has now set the date of its annual shareholders’ meeting for Friday, November 1, 2013. The record date for determination of shareholders entitled to vote at the meeting has been set at September 24th, 2013.
The Notice of Meeting providing the exact time and location of the meeting, as well as matters to be considered, and the Management Information Circular, will be mailed to the shareholders on or before October 9, 2013 and the proxy material will be filed on SEDAR by no later than October 9th, 2013.
http://ih.advfn.com/p.php?pid=nmona&article=59087055
United Silver Corp. Announces Changes to Board of Directors and Management -
http://ih.advfn.com/p.php?pid=nmona&article=58867395
God Bless
hopefully they can resolve the credit situation speedily....
United Silver Corp (USC)
0.06 ? -0.005 (-7.69%)
Volume: 5,000 @ 9:30:04 AM ET
Bid Ask Day's Range
0.055 0.06 0.06 - 0.06
USC Detailed Quote Wiki
United Silver Corp (USC)
0.08 ? -0.01 (-11.11%)
Volume: 108,000 @ 11:55:59 AM ET
Bid Ask Day's Range
0.08 0.085 0.075 - 0.085
USC Detailed Quote Wiki
United Silver Corp (USC)
0.115 ? 0.0 (0.00%)
Volume: 0 @- ET
Bid Ask Day's Range
0.1 0.11 - - -
USC Detailed Quote Wiki
United Silver Corp (USC)
0.165 ? 0.0 (0.00%)
Volume: 34,000 @ 2:30:09 PM ET
Bid Ask Day's Range
0.16 0.17 0.165 - 0.17
USC Detailed Quote Wiki
United Silver Corp (USC) fiat$0.275 UP $0.065 +30.95%
Volume: 140,500 @ 2:48:24 PM ET
Bid Ask Day's Range
0.255 0.275 0.24 - 0.275
USC Detailed Quote Wiki
bigone OT.
its some USC & NJMC @ the message below -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79069775
what's your opinion about it?
thanks in advance
Thanks for the update. Sounds very good to me.
Ongoing exploration work will include selective re-sampling of
the backs along both the first and second exploration drifts.
Detailed sampling and re-mapping will determine more precise
contacts between ore and waste, leading to a re-assessment of
mining width.
Detailed mapping will identify the potential presence of splays
and off-shoots (such as described above) of the silver
mineralization, utilizing both short cross-cuts and drilling
into the hanging-wall and foot-wall of the drift.
Three-dimensional figures will aid the analysis.
Large, bulk samples will be used for specific gravity
re-assessments on a regular basis.
With these data, a detailed estimation will be
calculated as to the degree of internal waste that has been
mined, and newly-calculated mining widths will be determined.
The objective of the above program is to maximize the grade of
the South Vein mineralized block determined by earlier core
drilling.
The third level exploration drift will provide a proving ground
to test the new geological sampling and estimation protocols
thus developed, leading to optimized silver excavation and
recovery.
Material handling methods, moving the mineralized stockpiles
from the surface to the mill, will also be evaluated to prevent
any potential errors in material movement.
The results of the new program will result in higher grade
material being shipped to the New Jersey mill.
States USC CEO Graham Clark:
"Management and the Board of Directors have decided to scale
back pre-development activities while we continue to become
more knowledgeable about the characteristics of the silver-
bearing mineralization at the Crescent Mine.
The results of our revised geological studies and exploration
protocols, along with future underground and surface drilling
of our large landholding position, will result in a much more
accurate understanding of the nature of the Crescent
mineralization".
ABOUT UNITED SILVER CORP.
USC is a vertically integrated mining company with operations
in Idaho, USA. It has a majority interest in the Crescent
Silver Mine project in Idaho's prolific Silver Belt -
directly between two of the world's historically
largest silver producing properties,
the Sunshine and Bunker Hill mines.
USC also offers a full suite of mining services including
contract mining and mine machine repair and fabrication
services to silver miners in the district.
USC's common shares trade on the Toronto Stock Exchange under
the symbol "USC".
For more information about USC, please visit:
www.unitedsilvercorp.com
http://www.unitedsilvercorp.com
ON BEHALF OF UNITED SILVER CORP.
"Graham Clark"
Chairman and CEO
Investor Relations
Tel. (855) 238-0202
http://www.unitedsilvercorp.com/s/NewsReleases.asp?ReportID=543797
http://tmx.quotemedia.com/article.php?newsid=53785410&qm_symbol=USC
Very interesting.... What do you think of the newly merged company?
I would hope so....
bigone its only a speculation -
but it make things more interesting with
some action often make things to speed up
make things to happen faster -
a more positive share price etc.
Wonder how this will influence New Jersey Mining and their previous deal on the newly expanded mill when USC gets taken over?
HL is out bottom fishing with fiat$ offer to USSIF -
USC may be the next offer?
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
United Silver Corp. Finalizes LLC Agreement with Hale Capital on Crescent Mine Project; Sells First Load of Concentrate to Refinery
United Silver Corp. Finalizes LLC Agreement with Hale Capital on Crescent Mine Project; Sells First Load of Concentrate to Refinery
Vancouver, British Columbia CANADA, June 28, 2012 /FSC/ - United Silver Corp. (USC - TSX, USCZF - OTC Pink), is pleased to announce that it has closed the agreement with Hale Capital Partners ("Hale") first announced on June 4, 2012. Together, USC and Hale formed the Crescent Mine LLC. Under the terms of the LLC, Hale made a net Initial Contribution of $2,400,000 in exchange for a 20% interest in the Crescent Silver Mine, located in the Coeur D'Alene Silver Belt, Idaho. USC had recently acquired this same interest in the Crescent Silver Mine project from Gold Finder Explorations Ltd. USC is the manager and has an 80% interest in the LLC. At any time after USC has satisfied its obligation to Hale under the Secured Convertible Note dated February 1, 2012 (see news release dated February 1, 2012), USC may acquire one half of Hale's interest in the LLC for a payment equal to the Initial Contribution.
Other specific terms of the LLC will be disclosed in the LLC agreement which will be publicly filed on SEDAR.
USC is also pleased to announce that the New Jersey Mill is
in operation, and it has shipped its
first load of concentrate from its test mining operations
to the refinery owned by Formation Metals.
These and future concentrate sales are together expected
to generate the cash necessary to complete development and
bring the Crescent Mine into commercial production.
Graham Clark, CEO of USC said, "We are very pleased with Hale Capital Partners, LP continued support as they become our joint venture partner in the Crescent Mine project. This transaction provides us with adequate funding according to our budget to carry out our development plans until commercial production makes the Crescent Mine project self sustaining."
Martin Hale Jr, CEO of Hale Capital Partners, said, "We are pleased to have the opportunity to expand our relationship with USC. We focus on providing growth capital to strong managers developing exceptional properties. We believe USC fits well with our investment focus."
ABOUT UNITED SILVER CORP.
USC is a vertically integrated mining company with operations in Idaho, USA. It has a majority interest in the Crescent Silver Mine project in Idaho's prolific Silver Belt - directly between two of the world's historically largest silver producing properties, the Sunshine and Bunker Hill mines. USC also offers a full suite of mining services including contract mining and mine machine repair and fabrication services to silver miners in the district. USC's common shares trade on the Toronto Stock Exchange under the symbol "USC". For more information about USC, please visit: www.unitedsilvercorp.com
ABOUT HALE CAPITAL PARTNERS
Based in New York City, Hale Capital Partners has established itself as a leading private equity firm focused on strategic investments in public companies and their subsidiaries. Hale Capital Partners' team is comprised of seasoned private equity veterans and entrepreneurs, who bring not only deep domain expertise but also hands-on operating experience to help build highly successful companies. Hale Capital Partners' mining portfolio spans all stages of mine development from exploration to commercial production.
www.unitedsilvercorp.com
ON BEHALF OF UNITED SILVER CORP.
"Graham Clark"
Chairman and CEO
Investor Relations
Tel. (855) 238-0202
http://www.unitedsilvercorp.com/s/NewsReleases.asp?ReportID=534859
Thanks NYBob.
I have met Fred a couple of times. I like the guy. He is a nice and intelligent man.
Fred Brackebusch resigns as Director of United Silver Corp
http://www.marketwatch.com/story/united-silver-corp-appoints-new-directors-2012-07-09
VANCOUVER, British Columbia, Jul 09, 2012 (BUSINESS WIRE) -- United Silver Corp. ("USC";TSX: USC; OTC: USCZF; Frankfurt: UM8) is pleased to announce that it has appointed Kenneth A. Brunk and James N. Meek to its board of directors. Both directors qualify as independent directors under Canadian securities rules, and their addition bolsters USC's corporate governance as well as adds considerably to our board's depth and breadth of experience.
Kenneth A. Brunk holds a degree in Metallurgical Engineering from Michigan Technological University and throughout his forty-two year career has been responsible for designing, constructing, staffing and operating multiple mining operations. He is currently President, CEO and Chairman of Midway Gold Corp., a company inter-listed on TSX-V and NYSE-MKT. Mr. Brunk has served as Chief Operating Officer of Romarco Minerals and prior to that, spent over a decade working at Newmont Mining where he rose to Senior Technical Officer and then Senior Vice President.
James N. Meek has extensive public and private mining company experience as a Vice President and Chief Financial Officer, Treasurer, Manager of Budget and Financing, Controller, Accounting Manager and Chief Accountant. He also has experience managing investment portfolios, trading commodities and in risk management. Mr. Meek has been CFO of Romarco Minerals and Sterling Mining Company, Sarbanes-Oxley consultant for Summit Assurance, and Treasurer at Coeur d'Alene Mines and accounting manager at Asarco, among other positions.
USC also announces that Fred Brackebusch has graciously resigned as a director to permit the addition of these two independent directors. Mr. Brackebusch has made an important contribution to our company as a director, and he continues to be an integral part of our operations as the CEO of New Jersey Mining Company, USC's joint venture partner in the expansion and operation of the New Jersey Mill in Kellogg, Idaho, and as the Chairman of the Joint Venture Management Committee. Mr. Brackebusch will also continue attending board of directors' meetings as a special advisor to the board. USC wishes to thank Mr. Brackebusch for his dedication and commitment to our company and his willingness to step aside so that USC could add independent directors and improve its corporate governance.
United Silver Corp (USC)
0.215 ? 0.03 (16.22%)
Volume: 35,000 @ 11:34:23 AM ET
Bid Ask Day's Range
0.205 0.215 0.21 - 0.215
USC Detailed Quote Wiki
United Silver Corp (USC)
0.21 ? 0.015 (7.69%)
Volume: 55,500 @ 1:46:06 PM ET
Bid Ask Day's Range
0.205 0.215 0.21 - 0.21
USC Detailed Quote Wiki
United Silver Corp (USC)
0.19 ? -0.01 (-5.00%)
Volume: 89,000 @ 3:20:22 PM ET
Bid Ask Day's Range
0.19 0.2 0.19 - 0.2
USC Detailed Quote Wiki
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United Mining Group Commences Trading on Frankfurt Exchange Under Symbol "UM8"
02/24/2011 - United Mining Group Extends Contract at Galena Mine
02/22/2011 - United Mining Group Announces Changes To The Board
01/11/2011 - United Mining Group Completes Milling Agreement for its Crescent Silver Mine
Resource Clips ~ UMG 2.0 - Oct 13, 2010
Resource Clips ~ UMG Moves Ahead at Crescent Mine - Sept 13 - 2010
Watch UMG Ring the Bell at the TSX
http://www.shoshonenewspress.com/special_sections/
Gold and silver are higher this morning with the dollar, the British pound and commodity currencies falling in value. It is too early to tell whether the recent margin driven, paper sell off on the COMEX is over but physical supply remains limited while demand remains robust, particularly in China, India and wider Asia.
Dow Jones to Gold Ratio - 50 Years (Quarterly)
Griffiths was chief technical strategist with HSBC for over 20 years, has 44 years investment experience and now works for Cazenove Capital, one of the oldest investment houses in the world tracing its origins back to the 17th century. It manages money on behalf of blue blooded clients and is widely believed to manage some of the British Royal family's wealth.
Dow Jones Industrial Average - 50 Years (Quarterly)
Griffiths has previously said that not owning gold today is a form of insanity and "may even show unhealthy masochistic tendencies, which might need medical attention." (see here)
Meanwhile perhaps the leading commodity expert of our time, Jim Rogers, has said that silver was not and is not a bubble.
Toronto Resource Investment Conference
September 25-26
Toronto, Metro Convention Centre, North Building
Booth 315
Click here to register
Special Report Edition - Critical Milestone
The Wallace Street Journal: Will there be a happy ending for the Sunshine mine?
Resource Clips
Interviews with Greg Stewart, CEO and Dr. Larry Dick, Technical Advisor
Equedia May 2010 Silver Report
Midas Letter - United Mining Group Poised For Production in Idaho's Silver Valley
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