RE: 2006 report and Victorcupricity,
Thanks for the information on the updated numbers that throughmud provided me. I was aware of the effect that commodity prices and exchange rates would have. What I would want to know is the company plans - as there is a very large capital investment mentioned in that analysis. If the company intended to follow the assumptions made in the feasibility study, I don't believe it can make that investment with the funds currently being generated by Shakespeare. I would also be interested in what cash can be generated if production continues under the present program - one quarter gives some idea, but it likely takes a couple of quarters to get past start up and into normal operations. That's the kind of information I'd normally be looking for, and I'd normally be interested in getting it in short order - to take advantage before it's evident to everyone. But in this case, I'm in no hurry because I won't be looking at URSA until the involvement of ISM is known.
You say: "At what point does Randy Miller have any control over UMJ? 51% correct?" Absolute control involves 51% of the shares. Often in discussing control, effective control is mentioned - a number that is less than 51%, but a number that still gives the holder effective control, because no other shareholder or group could organize effective opposition. I'm not concerned with those numbers as far as ISM and Miller are concerned - if they were at those numbers I would definitely have no interest in URSA.
What concerns me is the reality of the situation in the real world. In some cases reality is hidden, and the little guys can guess at what might be going on - or go blissfully along thinking that they will just be affected if someone gets 51%. Randy Miller has about 4% of the shares of ISM, as you say he'd have to have a hell of a lot more to get 51%. But I think it's pretty obvious that he's the one that calls the shots at ISM - I'll leave it to you to decide how he manages this. And the shots that have been called in ISM have not resulted in very much good for the average little guy.
With less than 15%, ISM has already had an influence on what URSA does - they've proposed a Special Meeting and even if they don't get their way at the meeting, URSA will likely have to pick up the tab for the costs of the meeting. ISM indicates by their action that they want to replace the Directors with a new slate at this meeting. Guess who will be selecting who the proposed new slate will be? And if this new slate is elected, do you think ISM may have some influence over their decisions on the operation of URSA?
The recent volume and share price increase is not just coming from good news on drilling results. Some of it is ISM buying, some buying by other insiders, the rest are unknown. The important thing, in my opinion, is who will have the most votes if URSA proceeds with an election of Directors - and that election may come in a short while.
You may think I'm paranoid, and I may think you're naive. I'm not a Newfie, but I have been around a while. There's money to be made when these games are played, as long as there's other people willing to lose. My experience is that those that make the money are the ones that suggested the game, where and when it will be played, and what the rules are - along with an unnamed group of "friends" - I'm not one of these and I don't want to be on the other side - I'll be a spectator, the seats are free. If I had been holding shares before this started, I'd likely ride it out, thinking I might gain, and at worst, might end up where I started. But I'm not going to buy on excitement over some game between big boys. When it's over I might buy, if agree with you on "the deposit, the production and the price" - and the management.
As for being here to assassinate Randy Millers character, I'm not the one that does that. Mr. Miller is the one that decides his character. I think I'm entitled to say that in my opinion, his activities in ISM indicate that building character has taken a back seat to other personal goals.