Ursa Major Minerals Incorporated T.UMJ

Inside ownership and breakeven metal prices

[cupricity]

 This is a response from RS that I recieved to what I thought were the pertinent questions.

 
UMJ insiders hold approx. 15% of the stock. 
I am planning an update on mining costs within the next 4 weeks once.
This is a polymetallic deposit and nickel is approx. 54% of revenue, however, our cash flow sensitivity shows breakeven cash flow at approximately $7.00/lb Ni and $2.50/lb Cu.
Ore is crushed to -5” on site and trucked in 40 tonne loads by highway trucks to the Xstrata mill.
Current selling is coming from impatient shareholders that bought in at higher prices and now have liquidity.
 
I trust the foregoing meets your purposes. Please contact me if you have further questions.
Regards,
Richard Sutcliffe
 
 
Richard H. Sutcliffe, Ph.D., P.Geo.
President and CEO
URSA Major Minerals Incorporated
Suite 1300, 8 King Street East
Toronto, ON, Canada, M5C 1B5
phone [phone]
fax [phone]