U.S. Silver & Gold (USA-T)
www.us-silver.com
60 million o/s
Insiders own 3%
Institutional 75%
$19 million cash (as of March 31, 2013)
$7.9-million debt. The company is currently in discussions with various lenders to refinance the debt on more favourable terms.
Two 100-per-cent-owned, royalty free, operating mines, the high-grade silver Galena mine complex in Idaho and the high-grade gold and silver Drumlummon mine in Montana.
Key people
Darren Blasutti – President, CEO and Director
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 and is a director of Noront Resources Ltd.
Steve Long - Senior President, Mine Operations
Mr. Long has in excess of 33 years experience in underground mining in various senior management roles most recently with Newmont Mining Corporation in Elko, Nevada and previously with Barrick, Echo Bay and Homestake Mining. He has had direct senior management responsibility for the complete mining life cycle from concept and design through construction and start-up, to operation and delivery of product. He has administered operating budgets in excess of $50 million and directed the operation of the largest underground gold production mine in the world. Mr. Long has managed operations of both union and non-union work groups. He has a B.S. Mining Engineering from the University of Arizona and an Associates of Business Administration, from New Mexico State University.
Jim Atkinson – Vice President, Exploration
Mr. Atkinson is a licensed Professional Geologist and has over 25 years of experience in the field of exploration geology. In addition to his Masters of Science degree, Mr. Atkinson has completed more than 10 exploration programs across North America. Mr. Atkinson was most recently the Exploration Manager of Noront Resources Ltd. and prior to that he served as Senior Environmental Consultant and Senior Hydrologist for Trow Associates, AMEC and ADI.
John Brock – Director
Mr. Brock holds a B.Sc. in geology and geophysics and has over 40 years experience as an executive with 20 public, junior exploration companies. Through companies under his management, he has participated in 12 major mineral deposit discoveries in north and western Canada, Nevada, Mexico, Ecuador, Sumatra, and Mongolia. Mr. Brock has also played a significant role in the equity financing of the public companies under his management. He served 6 years as a governor/Board Member of the Vancouver Stock Exchange and the CDNX Exchange and 2 years on the TSX Venture Exchange Advisory Board. In recognition of his contributions to Canadian mineral exploration and finance he is a recipient of a number of awards. Mr. Brock is currently CEO of Pacific Ridge Exploration (TSX-V:PEX), a Director of West Kirkland Mining and is an Advisor to the Manex Resources Group.
Company presentation
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