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On the contrary, this stock may be coming back to life. Partnering with already established Aboriginal businesses is completely different than antagonizing the natives and working against them. There are many business minded native groups in Alberta and BC. Many of them have the money and the land, and want to maximize the value of their assets. Some of them are work with real-estate developers (eg. the massive shopping mall at Tsawwassen). I work with Aboriginal based IT companies and call centers, and they provide good quality of services at a competitive price, while providing jobs to their people.
Gary Monaghan used the same strategy when he took over Sunvault, and that stock tripped since he took over as interim CEO of that company. A similar approach may work for UC as well.
Our Quebecois friend posted a link to SEDAR on the “other board".
It looks like the AGM will be on December 15.
I should be in town in Vancouver, and will probably attend schedule permitting. Hopefully would be throwing around some high-fives and congratulations with Jim and Gary by then if there is great news released and good price action before then.
LD
UC is undervalued big time based on cash flow from La Yesca mill alone. In addition, there's excellent potential at Xora which is close to the mill. Let's not forget that UC had gotten paid by the Mexican government to drill on UC's own land at Xora. The drilling last year didn't hit bulls eye, but the next round may very well do that. With cash from La Yesca, Jim can potentially drill sooner and drill where he thinks has the best potential, and would no longer be bounded by the Mexican Government's schedule and plan. A good result near the surface at Xora could easily produce ore that can be process at La Yesca mill at a much higher recovery rate. This could very well happened this year and double/triple current cash flow estimates.
And then there is McFaulds. With MAJORITY ownership of one of the largest claims in Canada's next largest mining centre, the potential value is huge. Although UC hasn't hit the rich Chromate deposits like it's neighbours, the known copper deposits near the surface at McFauld's #3 is probably minable when road is built into the area. Then there is greater potential deep down under McFauld#3. As we can see in the struggle between Cliffs and KWG over Big Daddy, the party with majority ownership calls the shots. The fact that UC has majority ownership is a HUGE advantage, making it an attractive candidate for acquisition or simply call the shots when opportunities arise. Ring of Fire has been quiet for a while because the government can't get there act together. But if there is an announcement of road/power project into RoF, all the RoF player would appreciate tremendously. Last time when NOT was riding high most people don't even know UC is associate with the Spyder/KWG claim. When the next tidal wave comes rising all player at Rof, UC will front and centre.
The first shot has already been fired with breakeven of the La Yesca mill, and a turnaround in the share price. The double barrel of Xora and McFaulds are now loaded ready to send UC sky high. Can't wait to see what this year could bring.
LD
I don't know if the stock is being accumulated. But I know this. At the current $14M market cap, this company is outrageously cheap, if/when they are able to get La Yesca into stable production. It's inconceivable for the market cap to stay at this level once La Yesca is online.
I can't remember all the estimates on cash flows from the mill, but even at a low level of $2M net profit per year, this company would be generation 14% profit based on current market cap. This is not taken into account any value from the 55% ownership of one of largest claims at McFaulds, Copalquin, potentials at Mar, etc.
Last I heard, things are moving in the right direction at La Yesca. No matter how slow the progress, as long as there is progress eventually the goal would be reached. I heard Jim is down at La Yesca right now. Hopefully good news is just around the corner.
LD
It's one thing to express frustration regarding the share price, but it's quite another to present false information as fact.
UC share price is currently more than double the 5 year low, which was 3.5 cents intraday set on Oct 31, 2008.