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Americas Gold and Silver Corporation T.USA

Alternate Symbol(s):  USAS

Americas Gold and Silver Corporation is a Canada-based precious metals mining company with multiple assets in North America. The Company owns and operates the Cosala operations in Sinaloa, Mexico, manages the 60%-owned Galena Complex in Idaho, United States of America, and is re-evaluating the Relief Canyon mine in Nevada, United States of America. The Company also owns the San Felipe development project in Sonora, Mexico. The 100%-owned Cosala operations are located in the state of Sinaloa, Mexico and consist of 67 mining concessions that cover approximately 19,385 hectares. The Cosala operations are located in the east-central portion of the state of Sinaloa, Mexico, near the town of Cosala. The Relief Canyon Mine is located in Pershing County, Nevada. The project encompasses an open pit mine and heap leach processing facility.


TSX:USA - Post by User

Comment by JamesBlenderon Jun 18, 2014 11:51pm
174 Views
Post# 22673828

RE:RE:RE:RE:RE:Drumlummon Gold & Silver Mine timeline -

RE:RE:RE:RE:RE:Drumlummon Gold & Silver Mine timeline - The bottom line on DrumLemon is that it's uneconomic.

DrumLemon Closure

"During the first quarter of the year, Drumlummon produced 21,044 ounces of silver and 2,161 ounces of gold at a by-product cash cost of $2,288.73 per ounce gold."
From the press release dated April 24th, 2013

The price of gold has never been $2,288.73 an ounce, yet SandraSoyle and PBG just love DrumLemon. They love it so much they'll tell you how great it was to trade 30% of your USA shares for it. They'll even tell you that giving insiders millions of options while the DrumLemon mine is closed and the share price drops 70% is great, too.... Those fine gentlemen will even tell you that maybe there is more gold at the DrumLemon...... No one knows for sure because there are no reserves but it was a great deal that allows us to pay maintenance costs on the uneconomic mine.

It never crosses their minds that RXE was headed to bankruptcy with cash costs of $2,288.73 an ounce and that USA would have had an opportunity to buy the bankrupt mine from the receivers in the not too distant future for pennies on the dollar.

Nope... it's all GREAT! Why is that? Who in heck doesn't mind losing huge money? And continues to espouse the wonders of a massive loss in value as fantastic?
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