United Silver Inks Deal for Sale of Silver Concentrates from Crescent Mine Project; Shares Trading Near Year Low
Shares of United Silver Corp. (USC.TO) are now almost 5% lower at 30 cents compared to yesterday's $0.315 close, trading just 4 cents above year low 26 cents, even after announcing that it has signed a 2-year agreement with Formation Metals U.S., effective January 1, 2012, for the sale of silver concentrates from its Crescent Mine Project, once the project begins generating ore.
Graham Clark, USC's Chairman and CEO, commented: "With this agreement in place, and the expected commissioning of our joint venture expansion of the New Jersey Mill in the first quarter of 2012, the Crescent Mine Project will be able to mine, mill, and process all of our ore within a five-mile radius of our property."
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