USA: Two Shafts Move More Ore

Morgan Report (07/06/2010)
"U. S. Silver generates 6% of U.S. silver production from its Galena Mine and Mill. The company's holdings are a combination of fee land, patented mining claims, unpatented mining claims and mining leases. As of 2010, it is profitable, carries no debt and produces silver at an average cost of $11.50/oz. With completion of rehab efforts/opening of the Galena shaft, the company can now move ore from two shafts. Two distinct ore combinations are present—a lead/silver ore and a silver/copper ore. . .With both shafts now operating, the company expects to produce 3.3 Moz. Ag (not silver-equivalent) in 2011. Current production is running at about 2.7 Moz. annualized."

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