I talked to Taylor Little yesterday...... and I asked her a few questions regarding UUL. She is the Investor relations person at Universal. Here are some of the questions I asked.
1. Why the disperity between the sp of UUL and SSE?
2. Will the deal between these 2 cos. go through?
3. What about the US properties of UUL?
4. What's up with the $1.45 M ABCP?
Here is what she had to say;
1. She didn't really know why either there is such a difference in the sp between UUL & SSE. She said she has had a number of calls with this question and the best answer she could give was the article by Paul Davey (sp?) in July that promoted Silver Spruce but didn't mention the deal between Universal at all. She said that Silver Spruce is a much better known name now and it seems to be catching the public's attention. She reiterated that when the deal goes through, each UUL share will be rewarded with one SSE share. She said that buying UUL at such a discount is a great deal especially in light of the 60-40 ownership split of the Two Time Zone discovery in UUL's favour.
2. She sees no obstacles to the merger but that it still needs stockholder's approval. Ballots should be mailed out soon but she said there is still some question as to the record date. If all goes as planned, early November should see the deal go through. She said that after the deal the sp of UUL or whatever the new company will be called after that will likely fall to around $0.30.
3. She was very positive about the US propertes and mentioned Artillery Peak in AZ in particular which should start drilling any day now. They are twinning the holes drilled earlier by Heclo and Getty to get the resource estimate (of one million pounds of uranium) up to 43-101 compliance.
4. She confirmed the $1.45 ABCP that had come due Sept. 4 and has not been paid back. She doesn't know how this will turn out yet. UUL hopes to get the principle back but probably not the interest. In any case it was money they weren't needing on expenses this year so it does not affect their drilling schedule. Worst case scenerio is that they may loose some of the principle.
So that's what I remember of our conversation but any comments here might jog my memory further.
Cheers
Don