If USA can produce 3 million ounces or 30 million net, then you have a pretty good undervalued mine. Well a lot of miners believe that is possible at USA. So why is the price so low?

USA has never proven huge reserves that would give it a long mine life. So many investors just pulled their money out. USA likes to mine what they can and prove a few years ahead. They have never been into massive exploration; they just sort of mine as they go. I believe that always worked well for them because they always believed that they would never run out of ore.

To play the mining game you must prove huge reserves. You can't simply imply that there is so much ore in the silver valley that exploration is not required. Exploration is expensive. USA should spend a lot of money proving reserves and mine life. If the exploration fails, USA will go bankrupt. Then another buyer will come along and buy out USA for a pittance and mine it for 3 million ounces and a 30 million dollar net on mine as you go basis.

And that process will continue to repeat itself until someone can prove huge reserves for the big payout.