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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, and is re-evaluating the Relief Canyon mine in Nevada, United States. 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 about 67 mining concessions that cover approximately 19,385 hectares (ha). The 60% owned Galena Complex is located in Idaho’s Silver Valley. The Relief Canyon Mine is located in Pershing County, Nevada. The project encompasses an open pit mine and heap leach processing facility. Its landholdings cover approximately 25,000 acres, which include the Relief Canyon Mine asset and lands surrounding the mine in all directions. The San Felipe silver-zinc-lead project is located in Sonora, Mexico.


TSX:USA - Post by User

Comment by POG1200on Dec 21, 2010 4:16pm
424 Views
Post# 17878467

Possibly the Bottom

Possibly the Bottom.5150 seems to have been the floor for most of the day.

If the selling is based on nervousness over the safety of the mine due to the recent media releases, and nothing else, then this is a sell off based on emotions, and this could be the bottom.

The company says some facts in the report are not accurate and they are willing to go to court to straighten things out... 

I don't think we have a situation where miners are refusing to work over safety concerns that have surfaced as a result of the report.   IMO that sort of thing would have happened way back around the time of the unfortunate event.

Nothing has changed regarding the potential of the price of silver.  All the reasons to hold shares in good producing silver mines like USA remain in place.  Even if there were further selling, IMO, in time, USA will move back up. 

As always, if anything happens to send the price of PM's soaring, I would expect to see many new buyers for USA.  IMO such investors will probably not conclude that USA is a poor play based on its record for safety, but rather choose to invest in USA based on its rate of production, its resources, its potential, and its SP.
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