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NJBIZ EXCLUSIVE U.S. Precious Metals Ponders Move to Florida

The move would allow it to be close to its mining fields.U.S. Precious Metals (Nasdaq OTC: USPR), a minerals exploration and development company in Wantage, is currently exploring a possible relocation to Lithia, Fla., according to people familiar with the firm. It is also looking for a joint-venture partner that would fund its mining projects.

A gold exploration company, U.S. Precious Metals owns mining concessions and land in Mexico’s Michoacan state totaling more than 9,000 acres. The relocation to Florida would allow it to be close to its mining fields. The company has three employees and two consultants.

Earlier today, the company said James O’Rourke started as its new president on February 1. O’Rourke brings 30 years of experience in mine evaluation, financing, development, marketing and product marketing. U.S. Precious Metals shares surged $0.25 to $1.15 in afternoon trading.

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