10:02 AM EST - Silver Recycling Co. Inc. : said it signed a non-binding letter of intent or LoI to acquire a silver scrap refining company. Under the terms of the LoI, the purchase price will be determined based on a multiple of average earnings of the company to be acquired for the fiscal years 2006 and 2007, subject to a minimum purchase price of US$9 million and working capital and other price adjustments. Silver Recycling Co. Inc.
shares V.TSR are trading unchanged at $0.50.
