Americas Silver Corp fka USAPF

[NYBob]

US Silver Corporation (TSX.V: USA) owns and operates the Galena,
Coeur, and Caladay silver-lead-copper mines.



These properties are all located in Shoshone County, Idaho.
US Silver was formed in April 2006 and controls a land package
now totalling approximately 14,000 acres.

The company produced 1.198 million ounces of silver from its
Idaho properties in the first half of 2010, along with 2.736
million pounds of lead and 500,000 pounds of copper.



"Tom Parker represents the renaissance of the Coeur d'Alene Mining District,
and the rebirth of silver worldwide," :
"He is a leader in his community and in his industry."

U.S. Silver Corp. CEO Thomas H. Parker Named Silver Summit Chairman
"We are delighted that Tom Parker has agreed to chair this
year's Silver Summit.
He will bring to this annual gathering of 1,000-plus silver
bugs his field-tested integrity and his enthusiasm for the
silver-mining industry.
Tom is a great supporter of this mining sector, and also of
Idaho's Coeur d'Alene Mining District,"
said Shauna Hillman, Silver Summit director.

A Mining Engineering graduate from the South Dakota School
of Mines and Technology, with a Master's Degree in Mineral
Engineering Management from Penn State University,
Mr. Parker has worked extensively in senior management
positions in the mining industry for the past 45 years.

Since November 2008 Mr. Parker has been
the CEO of US Silver Corporation.




http://www.thebullandbear.com/bb-reporter/bbfr-archive/USSilver.html


85% Silver Production Makes Idaho-based
U.S. Silver A Virtually Pure Silver Play

Galena Mine in Idaho’s Historic Silver Valley is Second-Largest Producing Silver Mine in U.S.

US SILVER CORPORATION

OTC QX: USSIF • TSX.V: USA

Contact: Thomas Parker, CEO

P.O. Box 440
Wallace, ID 83873
Phone: [phone]
Fax: [phone]



Corporate Office:
401 Bay Street, Ste 2702
Toronto, ON M5H 2V4

Phone: [phone]
Fax: [phone]

E-Mail: [e-mail]
Web Site: www.us-silver.com

Shares Outstanding: 252.18 Million

52 Week Trading Range
(as of Oct. 12, 2010):
U.S.: Hi: $0.54 • Low: $0.14
Canada: Hi: C$0.54 • Low: C$0.15

If there is one word to describe U.S. Silver Corporation (OTC QX: USSIF; TSX.V: USA) -- www.us-silver.com, we’d rather pick three: “pure silver play”. This is a company that derives over 85% of its revenue from the production of silver. Also, it is a company with no debt, no royalties that must be paid out of profits and no long-term hedging.
In 2009, the company produced 2.43 million ounces of silver, 6.45 million pounds of lead and 1.1 million pounds of copper. Those numbers, which were significantly higher than 2008 production totals, are expected to rise to 2.7 million ounces of silver, 5.9 million pounds of lead and 1.5 million pounds of copper by the end of this year. First half 2010 results announced in August showed a nearly $8 million increase in revenues, a positive net income and operating income of $2.2 million up from $0.3 in the first half of 2009.
U.S. Silver has two different types of silver veins – one that yields copper-silver ore, and the other, lead-silver ore. Currently, U.S. Silver’s proven and probable reserves are: copper-silver: 17 million ounces of silver, 5,160 tons of copper; lead-silver: 4.681 million ounces of silver and 49,920 tons of lead. Measured and indicated resources: copper-silver: 7.662 million ounces silver and 2,500 tons of copper; lead-silver: 825,900 ounces of silver and 8,370 tons of lead. Inferred resources: copper-silver: 10.7 million ounces of silver and 3,186 tons of copper; lead-silver: 6.154 million ounces of silver and 66,760 ton of lead.
“We are very leveraged to the price of silver,” says U.S. Silver Corporation CEO Thomas Parker. “We are an 85% pure silver play.”

Continuing Exploration at Galena Silver Mine
Boosts Reserves & Resources

U.S. Silver’s Galena Mine, which sits in the heart of Idaho’s famed Silver Valley – also known as the Coeur d’Alene Mining District – is the second most prolific silver mine in U.S. history. Mining began in the Silver Valley area in the mid-1880s. The district, located in northern Idaho’s panhandle, is a significant silver, lead and zinc producing area. Historically, the area has produced about 1.2 billion ounces of silver.
Work on the Galena Mine also dates back to the 1880s. Modern mining began in 1953 when ASARCO sank a shaft to the 3,000 foot level and excavated lateral drifts. Since 1953, the Galena Mine has produced more than 180 million ounces of silver and still has some 21 million ounces of proven and probable reserves of silver. . ASARCO’s joint venture partner Coeur d’Alene Mines, assumed control of the properties in the mid-1990s.
In 2006, U.S. Silver Corporation acquired 100% of the Galena Mine, the Coeur Mine and the Caladay Project from Coeur d’Alene Mines for $15 million. The properties encompassed some 11,000 acres of patented and unpatented mine claims. Since then, the company has added over 3,000 acres of unpatented claims, including the historic Dayrock Mine and Mill, to create a land package that is over 11 miles long and over 4 miles wide. The combined properties include four shafts, two operating flotation mills, and extensive surface and underground mining works and equipment. More than 250 employees work at the Galena Mine, producing 800-900 tons of ore per day, five days a week.
The Galena mine has two shafts, the primary No. 3 shaft that descends 5,825 feet underground, and the Galena shaft which is 5,540 feet in depth. The latter moves men and materials, and provides utility access for water, electrical power and compressed air. Silver and copper are recovered by a flotation mill which produces a silver-rich concentrate. The Galena mill has a total capacity of 900 tons per day. Silver-copper concentrates are shipped to Xstrata for smelting in Quebec. Silver-lead concentrate is sent to Teck’s Trail Smelter in British Columbia.
The company achieved average production of approximately 200,000 ounces of silver per month during the first six months – as planned – with production then increasing to total approximately 2.7 million ounces of silver for the year. This would comfortably exceed the 1.722 million ounces produced in 2008 and the 2.427 million ounces produced in 2009. In 2009, U.S. Silver’s cash cost per ounce was $11.62, 17% lower than 2008’s cash cost. Parker expects cash costs in Q3 and Q4 2010 to be below 2009 levels, largely through increased production rates.
Currently U.S. Silver’s proven and probable silver reserves total 21.7 million ounces, enough to operate the Galena Mine for the next seven years. This is nearly double the Silver Valley’s average mine life of 3-5 years. But, since the mine has been operating since 1953 and it is likely there is much more silver ore yet to be discovered and added to the company’s reserve total, it is a pretty sure bet the mine will operate for much longer than seven years.
Since acquiring the Idaho properties, U.S. Silver has conducted an aggressive underground exploration drilling program that has expanded reserves and resources 106%. Recent underground drilling indicates the potential for higher-grade silver resources. Last year, U.S. Silver’s continuing exploration program replaced more than every ounce of silver mined. The company plans to complete some 47,000 feet of drilling this year.
”We have a number of things to worry about but running out of ore is not one of them,” says Parker. “There is a lot of ore in this mine.”

Adjacent Coeur and Caladay Mines Provide Future
Mineable Resource for U.S. Silver’s Galena Mine

U.S. Silver’s Coeur and Caladay Mines flank the Galena Mine property. The two mines provide tremendous growth potential for U.S. Silver’s Galena mine complex. The Coeur and Galena Mines are connected underground by rail tunnel at the 3700 foot level, while the Caladay property is connected to the Galena Mine by an underground tunnel at the 4900 foot level. Both of these levels are used to exhaust ventilation air. The 3700 level tunnel also allows for the underground movement of lead-silver ore to the operational Coeur Mill.
The Coeur Mine operated until mid-1998, and historically produced some 39 million ounces of silver and 33 million pounds of copper. The mine has a flotation mill that now processes lead-silver ores from the Galena Mine. The Caladay Property has a 4900 foot deep shaft that is now used primarily to provide ventilation to the Galena Mine.

Investment Considerations

The company has significantly improved its financial position over the past two years, largely by making management changes, cutting operating costs and producing more silver, according to Parker. As silver prices improved and production increased, the company has invested in the development of new areas to mine and has made additional infrastructure improvements to support increased future production levels while maintaining its cash position. The company has decided to rehabilitate and reopen the Coeur Mine. It will take $1 million investment to reopen the mine, and another $3-4 million in development, but it will provide 500,000 ounces of silver a year, once sufficient development work is done. The project pays for itself in 21 months at today’s metal prices.
Currently, U.S. Silver Corporation stock is significantly under-priced when compared to its peers, according to Parker, who compares his company’s stats to such other silver producers as Scorpio, Endeavour, Fortuna, and First Majestic.
“We are profitable, have good cash flow, are debt free and pay no royalties.” says Parker. “2009 was a year of achievements in mine operations, productivity and profitability. With renewed infrastructure and equipment, a highly skilled work force and the rebuilt Galena shaft, we are now well positioned for the future. Our goal is to increase silver production at the Galena Mine to between 3 million and 3.25 million ounces a year.”

Visit the U.S. Silver Corporation Web Site
for more information>>



http://www.us-silver.com

Visit U.S. Silver News for the latest developments

http://www.thebullandbear.com/bb-reporter/bbfr-archive/USSilver.html