I put in a bid in at 50c last night and woke in the morning to find the bid had actually been filled. Not sure I was that happy to see silver down another $1.50 or so. The good news is that with silver selling at around $27.50, we have some support for USA's bottom line with the hedge of $27.50 for 500,000 oz. The big risk with USA is a collapse in the price of silver. But, with the hedge of $27.50, we are guaranteed to make good margin on 15-20% of production. I am willing to lose a little upside potential for that safety factor.

Bob