RE: ISM is sellingcupricity,
Something you mentioned indicated you thought ISM may have sold 300,000 shares yesterday - I'm not so sure they did, but it will be interesting to see what the ISM strategy is going to be. I think Randy has painted himself into a corner on this one. It's something he's done before - the proposed spin-out of Langmuir/Metal Mines being an example.
He's sitting with $1 million plus invested in a company that he says is so poorly managed he thought they needed his help to select new Directors. (Some might say if you're so bad off that you need his help, you're beyond help). So how does he justify continuing to hold shares in a company he has declared is poorly managed and incapable of "exploiting" value for shareholders? Also the UMJ holdings are sitting on his records as a reminder of another one of his embarrassing failures - I'm sure he would like to put this behind him. But, if he dumped the shares on the market, he'd be shooting himself in the foot, as the pressure would drive the price down, and add to his embarrassment as a loss he has to show on his books would increase. (ISM is carrying these shares on the statements near the recent market high). The best bet might be if a big player came along, liked the prospects and could take over the ISM position in one move. There might be some mutual advantage as ISM's exit and the new player's entry could be done without influencing the market to any great extent. If this happened my bet is the buyer would recognize ISM's predicament and the price might be negotiated down below what Randy was hoping. I don't think he's so worried about the money, it's not his - it's just that he will likely be wanting to exit without more egg on his face than he's already got. I will agree with you - however he leaves, it will be good riddance.
Back to the volume yesterday, I'm not so sure ISM will be selling that quickly - partly for the reasons above, but also they have to telegraph their move with insider reporting. I'm guessing there were a few others that picked up fair sized positions, betting that ISM was going to pull something off. My guess is that if ISM is going to exit, it will be after some of these boys have a chance to make their exit. You might continue to see the sells coming from a few houses (including "anonymous"), as was the case yesterday.
It wouldn't surprise me that UMJ may have a period of some pressure on their share price until this all plays out. As much as supporters will feel that the price spike is justified by fundamentals (and I'm not saying it isn't), I think that realistically it has to be accepted that the spike was also influenced by whatever ISM was up to, or people thought they were up to. If this marks the end of the ISM factor, it's hard to say how good it was for UMJ supporters. It definitely did bring some attention to URSA, which should only be a positive. But we'll never know if it accelerated or delayed where URSA was headed if these bozos had surfaced. I do think that just as the outcome hurt the reputation of Miller, his Board and consultants, Sutcliffe and his group came out of this looking like they belonged in the game.
Anyway, it will be good to have this chapter end, and see the discussion and interest limited to the efforts to grow the company - without unwanted outside interference. Good Luck.