That's right Mud.
RS got his butt kicked by the recession. His dreams were falling apart in his hands. His shareholders and friends became bitter and short sighted. But he persevered and kept on grinding. His work ethic and drive kept his company going, and his ability to get it done shone through. Now we have a very strong position going forward. A depressed share price aside, if you really want to buy some UMJ beyond, the piddly amounts traded everyday the answer is clearly demonstrated last week.
We have a tight share structure, ongoing cash flow, a great new exploration target and some heavy hitting institutional types on board. In fact if you take the know big guys- ISM @ 20% Mr. Hall at 15% and Kores at 5% I think that the float should be much reduced. After a failed attempt to get volume on the cheap F&M may just take a position now as well which would be great too. I know where a few more percent is as well and it is tightly held too.
I think that 50 to 60 cents is in the cards in the not so distant future.
I will leave you with a little tid bit I like. Greece is 2% of Euro GDP. The S&P 500 is cheaper now on earnings basis than it is 96% of the time. There are 3 billion people clamouring to join the middle class. There is a shortage of copper and PGM and gold.
When you leave the rice paddy and the hut you want a job, an apartment, then a car and a fridge and an a/c. Without metals, there is none of that. There is no replacing metals, they are elements, indivisible. There is no making more metals than the ones that are in the ground. UMJ has relatively high grade ore (2% copper equivalent) and it is REALLY close to everything a miner needs. IMHO Shakespeare has an NPV at todays metal prices in excess of 200 million. If we conservatively give 25% of that value to our humble little company we would have a share price of 60 cents.
That is my two bits. Good luck to all, and to Tickle too. May his hurting heart realize that he is on a bridge to nowhere with his angry diatribe.