Inspiration?There has been mention made of an ISM take-over and March as being a crucial date.
I'd be interested in knowing where the March date comes from - has there been a date set for having an election for a new slate of Directors?
If so, has there been any information from the Company opposing a suggested new slate as proposed by Inspiration, or proposing a slate that would be "friendly" to existing management?
Inspiration suggested that new management was required to realize potential shareholder value. I believe the share price has doubled since then. Has Inspiration shown any signs of proceeding with their suggestion of an election? I believe that sufficient time has passed that they can demand an election - but there must be some requirement for public notice of their demand, and then certainly a public notice from URSA advising of the date of such an election.
Unless I've missed some announcements from Inspiration or URSA, I find the lack of communication from both to be puzzling. Usually, there's no end of back and forth, between the two parties - so far there appears to be nothing from ISM or URSA. Has ISM backed off? Does R. Sutcliffe think its not necessary to defend himself and his fellow Directors?
As for a take-over, ISM has not announced that is their intention, their public statement is the shares are acquired for investment purposes. In my opinion as long as they are involved, it is difficult to assess the stock. Some of the price action likely resulted from the belief that there may be some take-over action. I could also relate to the uncertainty of ISM involvement holding back the share price. I'm sure that some potential investors would see no benefit, and likely a detriment, in any ISM involvement - given ISM's track record. In my opinion, their involvement would be a detriment as far as an URSA public debt or equity financing. They do not have the cash in their own treasury to provide the funds that are necessary to do the capital expenditure suggested in the NI43-101.
It also strikes me as being odd the R. Sutcliffe's future being in doubt considering the recent share price turn around and achieving profitable production.
Just questions and comments I throw out for discussion. Things don't seem to be happening the way that they usually do, and when that happens, I always wonder why.