Movers and Shakers February 16, 2012
Hilbish installed on CRS board
Hap Hilbish, associate broker with Century 21 Beutler and Associates in Coeur d'Alene, was recently installed to a two-year term on the board of directors on the Council of Residential Specialists.
Hilbish finished his third term as regional vice president for the council, most recently serving the CRS chapters in Maryland, District of Columbia, Central Virginia, Virginia and West Virginia.
This will be his second appointment to the council's board.
Hilbish has been a local Realtor since 1975 and has served as the local board president and MLS president.
Galena continues efforts to buy Bunker Hill
Galena Mineral Resources Group, LLC, is continuing to work on buying the Bunker Hill mine.
Last week, the company announced it had the exclusive right to purchase 100 percent of the assets in the mine, comprised of 434 patented mining claims covering about 5,700 acres.
"We look forward to the opportunity to working with the regulatory agencies and the local community to bring the Bunker Hill mine back into operation," said Brad Hoffman, manager of the Galena Mineral Resources Group.
He said Galena is confident it will bring good jobs to the community and operate the mine in an "environmentally beneficial manner."
"We share the enthusiasm with everyone in the basin with the possible rebirth of the Bunker Hill mine," said EPA spokesman Mark McIntyre.
US Silver to repurchase stock
U.S. Silver Corporation announced Tuesday that it will repurchase more than 3 million of its common shares. The stock will be retired and therefore not sold back into the market.
The company has nearly 61 million common shares, so the repurchase is roughly 5 percent of their total.
"With a cash balance in excess of our planned needs, an expected continued strong silver market and management's belief that the current stock price does not reflect the underlying company value, we feel that this share buyback program is a very prudent investment for the benefit of shareholders at this time," said Gordon Pridham, executive chairman of U.S. Silver.
Jerome Bunde, a broker agent for Pennaluna & Co., said generally, when companies engage in a repurchase, it's a good indication that management has faith in the operations and are doing something extra to express it.
"It's a benefit for everybody," he said, "the stockholder and the corporation."
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