Ursa Major Minerals Incorporated T.UMJ

Management Quality

[cupricity]

As a large share holder of UMJ I would say I rather satisfied with RS and crew.   He has delivered what was promised in terms of 200,000 tonnes a year, at costs in line with projections.   He has reduced risk by getting a low interest LOC secured by delivered metals which hedge the delivered price for the metal.  The ore grades are as planned.  Everything seems to run smoothly.
   He has successfully staved off a hostile bidder and diluted at a higher stock price than what we have right now.
    I am also aware that as a contrarian investor I am attracted here due to the low valuation associated with a lot of disgruntled shareholders who held while the market crashed around them.  It is my opinion that the majority of these shareholders found it worthwhile to bad mouth this stock whilst they still owned it, and still continue to own it.  
    It would be needless for me to describe my take on the mental prowess it requires to bash what you own.
    A question for you mr Sam?   What is it you like about Auriga?

[cadillacsam]

Thanks Cupricity for your reply.There are several things that I like about Auriga; high historic gold grades and high recent gold drill grades), large existing mill (that needs to be refurbished) and a large historic pre 43-101 resource. But the thing I like most is that they are now drilling to see if an open pit at surface would be feasible (32 holes)  and from the hundreds of historic

[tickle1st]

Boy....I feel like we're in the 60's at a love in....the truth of the matter is that real investors don't want any part of this company and the management for a lot of reasons that Cuprassity has over looked.the market has a long memeory. And the past hgas come back to haunt this company....and as ling as there are better companies, better mangmentsts and better place to put their

[cadillacsam]

Thanks for the reply.  Did tmanagement mislead investors as to what ore grade was in the deposit?

[tickle1st]

Nope. It's all there in black and white if you want to read about it.But the grade is low, the ore gets blended and the costs of mining will go up when they have start and remove overburden to get to more low grade ore.  And that is why you don't see the likes of real investors wanting a piece of the action. They see better places to put their money....and rightfully so. Retailers

[cupricity]

Please excuse tickle, he's the reason I am here.

[rallydriver]

   "It would be needless for me to describe my take on the mental prowess it requires to bash what you own" - some of us consider it honesty and integrity - 2 items sorely lacking in this stock market game.

[tickle1st]

Cuprassity...and I'm glad you're here.You know, I've been with this company for a long time. I was around when URSA bought all the Patricia rights offering (I figure URSA shareholders lost over $700,000 on that one when Patricia was sold), I was here when RS diluted URSA stock to buyout 5 Patricia shareholders..at a hefty premium, I was here when Kores was supposed to help URSA become

[throughmud]

>Please excuse tickle, he's the reason I am here.<At least tickle1st might finally have one good use.I put her/his posts on ignore many moons ago because they tend to be repetitive and a bit obsessive about management. The name-calling thing, too, is boorish. mud

[cadillacsam]

Well, so far, it doesn't seem like management hasn't done too badly getting through the huge commodity crash but the concern for me investing here is that compared to other miners, there is a very low profit margin. But to be fair, that is the case with many base metal miners compared to precious metal miners these days, so I am mostly staying with the precious metal miners. I like the

[throughmud]

Sam, RS has managed the Shakespeare project well, making the difficult decision to shut down operations during the downturn and then re-kindling it afterwards. I suspect that the plan would be to increase the extent and value of the resources at and near Shakespeare so that a mill becomes feasible. A mill would push the profit margin way up, but of course there is a significant capital cost

[tickle1st]

A mill is going to cost money...and this mill has been pumped for a long time...too long. I guess in studies they can hype whatever they want in order to promote...but in reality I doubt we'll ever see a mill. Nope, never.Read the historical NRS...way way back when NAP was going to partner....the mill was going to come from them-Long Lac or something like that?I don't remember now it was