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Ursa Major Minerals Incorporated T.UMJ



TSX:UMJ - Post by User

Comment by KerBeron Dec 08, 2010 9:55pm
252 Views
Post# 17821678

RE: Looking good Prediction

RE: Looking good Prediction "I will make a prediction on our revenue based on average copper prices and nickel prices from August 1st to October 31st.   2.9 million revenue 765,000 net profit."

We did $1.6 million in revenue in Q2 and had a profit of $53,900. To show a profit of $765,000, we would have to do a little more than $2.9 million in revenue.

"Adding to the tonnage at Shakespeare is also likely the best way to explore as opposed to chasing over western Ontario."
 
The problem with adding tonnage at Shakesdpeare is twofold. One, we have to get Xstrata to accept more ore and two, there is only so much tonnage the mine road can handle in a day.

"If the price doesn't move up we can take 1 million a year and buy back shares reducing the float substantially over a two year period."

The company had a share buyback program a few years and it was an abject failure. Buying back shares is, imo, a waste of money. We are not by any means flush with cash and our money would better spent on exploration or even a quality acquisition.






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