US Silver Releases Financial Results for First Quarter

U.S. Silver Corporation (TSX:USA,OTCQX:USSIF) announced its first quarter 2012 financial and production results.

As quoted in the press release:

Cash on hand at the end of the quarter totaled $26.9 million, largely unchanged from December 31, 2011. Working capital increased to $37.3 million in Q1-2012 from $35.7 million at December 31, 2011. Cash currently stands at $23 million.

U.S. Silver’s Executive Chairma,n Gordon Pridham said:

Silver production increased by 11.5% to 551,228 ounces compared to 494,363 in Q1 2011 and while lower than targeted levels was within normal levels of variability experienced at the Galena.

Click here for the U.S. Silver Corporation (TSX:USA) press release.