I was trying to find more info myself with URL, but this company never returned any of my phone calls.tgwm said:I too have some of these and can't understand why they aren't a bit healthier.
Their tenaments look outstanding and they should start producing Cu in 2008 (I think ...).
Anyone know what is happening with the future partnership with XSTRATA ?
cheers
i agree there is a positive in uranium, but, this is NOT what this stock is about. The future of this stock is all about the option xstrata has to own 51% of the roseby copper project and there disussions with ZFX. We should know by the end of january or not weather they have taken up this option, as it was a 90 day option from when the feasability study was given to them, which was in october.greggy said:I was trying to find more info myself with URL, but this company never returned any of my phone calls.
DYOR
spitrader1 said:i agree there is a positive in uranium, but, this is NOT what this stock is about. The future of this stock is all about the option xstrata has to own 51% of the roseby copper project and there disussions with ZFX. We should know by the end of january or not weather they have taken up this option, as it was a 90 day option from when the feasability study was given to them, which was in october.
• Janet Maude-Mount Harold prospects rock chip values up to a peak of 6.18% U308;
• Godkin prospect costean rock samples gave grades in the range of 0.3-0.4% U308,
including 0.3 metre channel sample at 1.32% U308.
• Previous workers attempted three percussion drill holes at Janet Maude and two percussion drill holes at Mt Harold. Drilling failed to adequately test the anomalism, terminating before reaching target depth due to drilling difficulties and excessive water. The highest drill assay recorded was 0.6% U308 (NB. SMM's drilling has been getting grades of the order of 0.2% U308 - exgeo). Additional drilling was proposed to properly evaluate the mineralisation at Mount Harold – Janet Maude. No evidence has been found of this having been completed.
• Malakoff prospect - Ongoing review of Universal’s regional tenements has identified Mesozoic sediment-hosted possible “roll front” uranium mineralisation located at Glen Isla within the Malakoff tenement. Mineralisation appears to lie within a channel which is between 500 – 700 metres wide and 1500 metres long. Exploration located mineralisation between 35 to 45 metres below surface ranging from 1 to 4.3 metres thick. Several encouraging intercepts were reported, including 2m @ 0.118% U308 and 1.4m @ 0.162% U308.
On the face of it, these are excellent results. The only problem is that URL is valued as being a copper explorer. When the market settles down its uranium assets should be floated in a separate vehicle. I don't hold any and don't intend to buy back into this stock as I don't like the management's attitude in relation to building shareholder wealth. Plus, I've been previously burnt playing this one.richdad said:ann out
URANIUM EXPLORATION SUCCESS
The directors of Universal Resources Limited (Universal) are pleased to report high grade
uranium and rare earth results obtained from a surface sampling exploration program within
Universal’s wholly owned tenements adjacent to the former Mary Kathleen uranium mine in
the Mt Isa Inlier of North-West Queensland.
HIGHLIGHTS
The recent exploration programmes targeted uranium mineralisation north-east of the former
Mary Kathleen uranium mine where historical production was 9.2 million tonnes of ore
grading 0.13% U308. The very pleasing results generated by this initial program of mapping,
rock chip sampling, broad band gamma ray scintillometer and soil surveys are presented
below. Sampling has confirmed the presence of uraniferous and rare earth mineralisation in
rocks and soils at Janet Maude and Mount Harold prospects and also identified a new
uraniferous prospect at Mount Harold South.
Some of the better results from rocks selected on the basis of scintillometer screening include:
Mt Harold
• 4.76% uranium, 2.07% cerium, 3.04% lanthanum, 0.78% yttrium;
• 4.36% uranium, 1.79% cerium, 2.66% lanthanum, 0.77% yttrium;
• 2.42% uranium, 1.13% cerium, 1.62% lanthanum, 0.45% yttrium ;
Mt Harold South
• 3.59% uranium, 1.42% cerium, 2.33% lanthanum, 0.50% yttrium;
• 2.93% uranium, 1.16% cerium, 1.67% lanthanum, 0.46% yttrium;
Godkin and Godkin Extended
• 2.96% uranium, 0.72% cerium, 0.94% lanthanum, 0.18% yttrium (Godkin);
• 1.81% uranium, 0.59% cerium, 0.67% lanthanum, 0.14% yttrium (Godkin);
• 1.69% uranium, 0.49% cerium, 0.53% lanthanum, 0.13% yttrium (Godkin);
• 1.74% uranium, 0.75% cerium, 0.93% lanthanum, 0.35% yttrium (Godkin
Extended).
Hi Mousie,Mousie said:Hey greggy
Other than management not returning your phone calls Re post #62 here, why did you not like their attitude in building shareholders' wealth?
Hi Mousie,Mousie said:Well, I did note that at the Chairman's address last year (on page 3 of the Chairman's & MD's Address to AGM), Peter Ingram did note they might JV or spin-off. Holders must prefer the latter I assume...
Hi Mousie,Mousie said:Well greggy,
Honestly, I didn't follow this company for very long (yet), so I haven't get a feel for how management communicates with its shareholders. I mean some management promise the world and this hypes that particular stock up, and they answer questions later. But some don't play up their companies, preferring to announce something only when it's more or less definite. I don't know that feel in respect to URL's management yet, but they did announce their available options. Call that small comfort or something else, I don't know. Since you dabble in URL before, you might have a better idea as to how they do things, but not returning shareholder phone calls definitely is a negative mark. Still, that's not the only factor I take into consideration when deciding whether to monitor a particular company.
Yes, a spin off would be very beneficial for existing shareholders.mmmmining said:I bet the current ann. is the prelude for a spin-off. Watch out, there is no harm to own a slice of this company for both copper and uranium assets.
greggy said:Hi Mousie,
If you're a shareholder, the share price is up nicely today. My father is still a shareholder. This company has underperformed for a while. Not returning shareholder's is a negative and URL is by no means the only offender in this regards. It just seems to me that when thee company has a uranium ann. the price goes up whilst any ann. dealing with its copper project the price seems to fall overall. I also take other factors into account, the company's projects, cash levels, management, potential etc.
DYOR
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