RE: 10 oz. per tonI'm not sure I agree with you on what limits US Silver's equipment improvement plans. If you look at cash on hand there appears to be more than just the 'do we want to borrow money' question that goes into the rubber tired equipment decision, I think.
Without drastically enhancing the proven reserves, USA.v is only marginally bankable - so it takes more than a company 'wanting' to borrow money. In fact at this juncture, I'd say that incremental capex dollars would anly be available via an equity deal, and as a shareholder, I'd prefer they hold off on that for a while.
USA.v proves they are willing to borrow - again details in the annual report show that they finance inventory in transit to the refinery - via the merchant banking arrangements with Auramet Trading (a news release sometime in 2009 as I recall pointed to this working capital relationship)
Your point howevert is not lost. Your suggestion of $7.50 per oz. as a cost is hard for me to get my mind around - given that ounzes are a product of tons mined and their cost is somewhere arounf $180 per ton. How does that compare to other hard-rock underground miners? Said a different way - $7.50 cost per ounze is a slam-dunk - simply by doubling the amount of ounzes found in a ton of rock. So I'm fairly certain management focuses on the cost per ton, versus the cost per ounze
all in all though a good 24 hours. I bought in again at near close yesteray for 20 cents, and last traded today at 23 cents. 15% uptick in 24 hours aint a bad day's haul, I'd say, but alas it's only paper gains right now.