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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (62826)	1/12/2009 10:37:08 PM
From: loantech	1 Recommendation Respond to of 78418

Unified board could merge Sunshine, Crescent, Galena mines Posted: Monday, Jan 12, 2009 - 05:26:23 pm PST By DAVID BOND WALLACE — In a move seen as a step toward consolidation of silver mining interests in northern Idaho's fabled Coeur d'Alene Mining District, principals of SNS Silver and U.S. Silver have, with others, taken control of ailing Sterling Mining Co. and SRLM's rights to the Sunshine silver mine. Unable to pay its bills, Sterling went shopping last summer for a suitor, and shuttered its Idaho silver mine in September after a short production period in Q1 and Q2 2008 that served up 500,000 ounces of the white metal. The company is in debt to the tune of about $16 million, including $5 million to Sino-Canadian explorer Minco Silver. Andrew Grundman, former attorney for the Sunshine's landlord, Sunshine Precious Metals Inc., will join the new Sterling board, along with David Greenway, CEO of SNS Silver; Ron Ho, CFO of SNS Silver; and John Ryan, architect of US Silver's acquisition and redevelopment of the Galena-Coeur-Caladay complex formerly owned by Coeur d'Alene Mines. "This is a brand new day for the Silver Valley," Greenway said. "The exploration and production potential from the Sunshine and Sterling's property holdings are vast and promising. We have a team that can put miners back to work and get our silver back into production," Greenway added. Said Grundman: "I believe that the addition of Mr. Ryan, Mr. Greenway and myself to the board will bring the experience and knowledge necessary to return the Sunshine to its former glory and to help revitalize the economy of the Silver Valley and northern Idaho." SNS Silver owns the Crescent silver mine – formerly a Bunker Hill property – adjacent to the Sunshine. An aggressive exploration program launched by SNS delineated a new silver orebody in that mine's heretofore unexplored "upper country." Crescent Mine ores could now be processed by Sunshine's 1,000 tpd concentrator a stone's throw away. The land position now controlled by Sterling's new directors comprises about 8 miles of the Silver Valley's silver-rich "Dry Belt" reaching from the Crescent to the west to the Galena easternmost. Within those boundaries lays a band of silver-copper tetrahedrite whose depths have not been plumbed. Infrastructure includes the Crescent, Jewell, No. 10, Silver Summit, Coeur d'Alene, Coeur, Caladay, No. 3 and Galena shafts along with numerous intermediary haulage ways, three large-scale precious metal concentrators, and three EPA-permitted tailings ponds and waste treatment facilities. Combined, the silver mines of the Dry Belt comprise nearly 500 miles of workings and have served up more than 1 billion ounces of silver over the past 100 years. The new Sterling venture is the closest thing to a consolidation of Silver Valley mining interests since the late Sunshine Mining Co. attempted to quiet title to claims surrounding the Sunshine Mine in the early 1980s. Should US Silver, Sterling and SNS ever join forces – the likelihood of which now seems inevitable – they would control about 25 percent of all silver production in the United States and more than half of its primary silver production. Ray DeMotte, who led 106-year-old Sterling's efforts to gain control of the Sunshine and return it to production over the past five years, will remain on the SRLM board of directors for the time being. It was not certain at presstime how many other former Sterling directors would continue to serve, although a source confirmed over the weekend the resignations of three Sterling directors, David Waisman, Kenny Berscht and Kevin Schiell. Berscht, Sterling's acting spokesman, could not, as is his custom, be reached for comment. Editor’s Note: David Bond is editor of The Silver Valley Mining Journal (www.silverminers.com) and the author of The Silver Pennies.

To: Claude Cormier who wrote (62826)	1/13/2009 3:39:33 AM
From: labbe	Read Replies (2) \| Respond to of 78418

209.85.173.113

To: Claude Cormier who wrote (62826)	1/13/2009 2:10:30 PM
From: czechmate	1 Recommendation Read Replies (2) \| Respond to of 78418

Claude..I just finished having a real good look at DMM and I can see why you have been pounding the table on this one.From what I can glean from the info that's all I can see is that their projects should thrust them into the status of senior producer and the value that companies like Goldcorp,Kinross and Agnico enjoy.Just freakin unbelievable with the share structure,no debt and the quality of the projects as well as the mining costs.Why this one isn't trading at a minimum of 10.00 TODAY blows me away. The only thing I presume that was holding this back was the country risk and the mining laws,that appears to be resolved,what gives? Have the junior markets been that badly damaged? All I can say is its a gift here.