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Shoshone Silver Mining Co., Inc. SHSH

"Shoshone Silver Mining Co Inc is a United States based exploration stage company. Its primary activities are to acquire rights to explore, hold, acquire lease and trade properties which are prospective for silver, gold, platinum group and base metals along with uranium."


GREY:SHSH - Post by User

Post by AndrewC2on Mar 05, 2014 7:34am
191 Views
Post# 22281509

(Relatively) New Management Team

(Relatively) New Management TeamThe last I saw on SHSH was their Form 10-Q of 17 May 2013. https://biz.yahoo.com/e/130517/shsh10-q.html. This mentioned: During its fiscal year 2012, the Company engaged a new slate of industry experienced board members and a new management team. Shoshone then revised its corporate strategies and changed direction. One of the board's initial activities was the evaluation of Shoshone's existing portfolio of mineral claims in terms of location, known mineralization, and potential for lease, sale, exchange, development and joint venture. Following this evaluation, in July 2012, the Company sold a lease option on its Lakeview millsite to Black Mountain Resources ("BMZ"), an Australian company, for $550,000 of cash. On February 13, 2013, the Company negotiated a renewable 15-year lease with a BMZ subsidiary for the mill and adjacent claims. The Company received 11,000,000 shares of BMZ stock with a value of $2,297,944. Shoshone is also discussing the prospect of selling certain Idaho properties to other entities. Consistent with its changed focus, the Company in a non-cash transaction in the quarter ended September 30, 2012 traded certain claims (the Bullion Group) and 666,667 shares of its common stock in order to acquire other mineral claims (the Campbell Midvale properties) adjacent to a developing Hecla mine. Shoshone is also evaluating the potential of other claims adjacent to its own properties. Additionally, in the quarter ended December 31, 2012, Shoshone acquired the Imperial Mine claims in Beaver County, Utah which were proximate to the high-producing and historic Horn Mine. Shoshone's board of directors is analyzing the best means to explore and develop the Imperial Mine property. In connection with this analysis is the directors' consideration of the economics and prospective terms of a joint venture to further develop and mine the Imperial property claims. Can anyone bring me up-to-date with any recent developments? AndrewC2
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