Questions Answered in Bold: Editing (Feel Free to Help - Doing a quick draft)
These were the questions that I submitted last night.
1. Can they explain what caused the AMEX listing fiasco? What exactly happened there?
I did not hear an answer for this. We did here that all approvals are ok, we just need to maintain a $2.00 share price. Nothing that we didn't know already. Still didn't fully answer why we didn't go on the bigger exchange in the first place
2. How far along are you on the CEO search and when do you plan to have someone in place?
Same chatter here. Looking at several within the mining industry. At least they are not hiring from within the company. This is a positive.
3. Can you be acquired by a larger company? SilverMex just sold for $176M and had less reserves, land, cash, etc. On paper US Silver would appear to be worth much more than that.
4. What exactly is the IR firm doing for us?
5. Why is the stock getting so pounded?
Equity markets haven't been kind to all the miners. We knew this, so I wasn't expecting any other response.
6. There is absolutely no reason why every publicly traded silver mining company should be valued at PE's more than double US-Silver. What do you plan to do to get the stock on a more even playing field? This is imperative, especially for times like these. The stock should have been trading at $3.50 a share when silver was slightly higher the other month. Instead management went silent and the AMEX fiasco sent us plummeting.
I gave my opinion about this down at the end of this post.
7. Can we get an update on underground and surface drilling. How much of the proposed 40% expansion in drilling feet has been accomplished? When will we see results? All of this is pertaining to the 3/29 news release.
I believe this was answered, however the call was a bit choppy for me. Tough to hear at times. Did they say 100,000 feet below surface has already been drilled?
Numerous Targets have been found that are very positive! New details to emerge in the coming weeks.
8. What is being done to bring the share price back above $2.00 and get the up-listing.
9. Time frame on the Caladay Mine production.
10. Prefer USSIF to Start an Exploration & Restoration Agenda - US Silver has stated before that they will continue to explore new silver veins. Will this be done as soon as possible?
11. What do you believe is a reasonable valuation for US-Silver? Even in this bear market, the stock should be much higher.
Company has purchased 709,000 shares back at an average price of $1.96 per share. Now this news should not be thrown lightly. Word needs to get out a little more about this. They can only do so much for us in regards to the buyback program. It'd be nice to see the price start to increase with all of these buybacks so that it isn't completely wasted!
12. Are you holding back (or will you hold back) the sale of silver for future higher prices? Many would like to see this with a lot of the miners.
Inventory is stated in their report. I need to check to get an oz number.
13. How would you respond to the incredible bashing on the Yahoo message boards. Do they just ignore it? A lot of the bashing posts allege that the company is involved in criminal activities. (I personally don't read the yahoo boards, but the negativity appears overwhelming)
14. Does the Company reaffirm guidance for the production of 2.4 million ounces of silver for 2012?
Yes, this has been reaffirmed. Next quarter should be 650,000oz.
15. How much production is expected from Coeur both this year and in 2013?
It appears as though they fully expect it to start producing by end of this year starting at 25,000oz per month, up to 42,000 by end of next year? Is that correct?
16. What is the status of the possible #2 million dollar tax overpayment?
17. Will USSIF take advantage of the new smelter opening close by?
Hearing the news that they will save $1.3M a year since they hired their own miners is positive news as well.
Company made $0.05 per share.
Yes, the costs per ounce are high, but the PE is still incredibly low compared to other miners. A profit is a profit, however you look at it. USSIF is still trading at remarkably LOW PE's compared to others and still should be at least 2x higher just to be in the same league as the other miners!
I honestly don't know how these guys could really say much more than they already did. Yes, I would have liked an explanation as to what exactly happened with the AMEX listing in the first place, but overall, it was pretty much spot on expectations.
One of the problems here, is that US-Silver just isn't "sexy"...If I owned a Mining Producer I would do some out of the box thinking to make it sexy...There has to be some excitement here. I understand these guys can only do so much, but I'd love to see some nice new marketing firm take over...Perhaps they could hire me...With the proper resources and guidance in the marketing and IR department, US-Silver could experience some massive growth.
Overall, it really comes down to the price of spot silver. If silver is $40.00 an ounce again, this could be $4.00 in a heart beat.
I wish I had $100M to buy this company! I'd really help all shareholders out here. Anyone know anyone with large pockets? Let's buy a controlling stake and get this to a 1/2 Billion Dollar Company...and one that's "cool" to own. ;-)
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