Tickle,tickle, tickle. Part 1Some things never change and tickle's braying is one of them. A little history first:
A few years ago, tickle and a few of his friends invested in a company, Patricia Mining, run by Richard Sutcliffe. When RS stepped aside to concentrate on Ursa, a friend of tickle, Gary Kirk, was appointed CEO. Tickle and friends then predicted that the SP would move upwards smartly under the tutelage of GK. When the SP steadily declined, GK was dismissed before his one year contract expired and tickle et al began a campaign to vilify RS and Patricia management. Even Gary Kirk joined in attacking management ( classy move ). Tickle, GK and their buddies claimed that Patricia's JV partner, Richmont Mining was pulling the wool over RS's eyes in order to buy out Patricia on the cheap. Among the claims made by this disgruntled group was that,
a) Richmont were holding down production.
b) Richmont were not mining the good grades.
c)Richmont were not running the mine efficiently
Richmont bought out Patricia in Dec. 08'. That year, the mine produced 38,037 oz's of gold at a head grade of 7.65 g/t. In 09', the mine produced 38,879 oz's of gold with a head grade of 6.04 g/t. Time has shown tickle, Gary Kirk et al were completely wrong. At one time Gary Kirk claimed that the mine would produce 120,000 oz's of gold a year ( not even close ). So despite being wrong about Patricia Mining, tickle is now attacking Richard Sutcliffe on the Ursa board. Tut, tut. I will bet a dollar to a dime, tickle has sold most of his position in Ursa and now feels like blaming someone else for his investment decisions....again. Tickle is big on personal attacks and feels that if he loses money, it has to be someones fault, someone but never tickle. Not to say all is a bed of roses at Ursa, questions should be asked and investors are entitled to clear answers. Never be afraid to call or e-mail Ursa, if you are an investor, it is incumbent on you to let management know you are watching.