U.S. Silver calculationProduction rate late in 2007 forecast:
Silver 4.3 million oz/year, copper 3.1 million lb/year, lead 23 million lb/year
Big total silver reserves & resources of 48 million ounces, of which 18 million is inferred, which should cover more than 10 years of production.
See today´s NR as of April 18
https://biz.yahoo.com/iw/070418/0240592.html
Fairly good cash position relative to capex.
Price assumptions : silver USD 12/lb, copper USD 3/lb, lead USD 0.75/lb, USD = 1.13 CAD
Silver cash flow : 4.3 million oz/year x (12-4.5)USD/oz = USD 36.55 million per year.
Assuming 208 million fully diluted shares (but there could be more dilution - in which case the potential is reduced proportionally) you get cash flow of CAD 0.20 per share, just for the silver.
With an 8 cash flow multiple for silver you get CAD 1.60.
Copper, 3.1 million pounds and lead, 23 million pounds add credits of USD 9.3 million and USD 17.25 million for a total of USD 26.55 million or CAD 0.144/share.
With a 5 cash flow multiple for copper and lead you get CAD 0.72.
In summary the stock potential would be to CAD 2.32
So the U.S. Silver may more than double until 2008 if the market accepts these CF multiples.
Total cash flow/share around CAD 0.34 with my assumtions including the unsecure fully diluted share figure, indicates that U.S. Silver now is valued around p/cf 3 for 2008 which seems very low. The metal price assumptions in this calculation may be too high (or too low). There may be more stock dilution.
https://www.us-silver.com/US-SILVER-CORP.pdf .