Ursa Major Minerals Incorporated T.UMJ

Schadenfreude

[prested]

I know it is natural to gloat over the misfortunes of Miller et al, but this board is about Ursa Minerals. I for one would like to see us concetrate on its future rather than speculate on the seemingly inevitable demise of our nemesis.
   What events do we need to witness which will bring the SP back to a realistic level, and what do we expect management to be doing to bring them about?

[cupricity]

    1.  We need a mill.  Even a mill that was 1000 tonnes per day would be WAY better than what we have now.  The fact that we can ship our ore 75 kilometers is a huge testament to the fact that we have good grades, we just need to concentrate it a little bit to cut down on transport.  IE we are shipping 99% waste rock 75 kilometers!   2.  See number 1.

[throughmud]

Cupricity - exactly. We are in the same boat. A mill is really all that Shakespeare needs to change at this juncture. For UMJ, anything else (like other deposits coming on-line) would be gravy.mud

[tickle1st]

Boys...a mill was part of the NAP deal...which fell through once NAP had time to review the economics of the mine.That should have been the signal right there that there was something wrong with Shakespeare...when the company that RS was closely associated with took a hike early on.But keep up the pumping...that sure helps.  I think you guys need to be more critical..like me and call a spade

[throughmud]

Any thoughts on whether the mining rate at Shakespeare could be increased over the amount that is shipped to the mill in Sudbury, with the excess being stockpiled on-site for a year or so as a kind of down payment/collateral for purchasing an on-site mill?Might this be a viable option?mud

[tickle1st]

C'mon throughmuck... You are looking very stupid here.you've been around long enough to know the only reason a mill is in the feasibilty study is because NAP was supposed to supply it as part of the JV...that fell through very early in the DD stages.Keep that mill hope alive as long as you can because the market says that there is no mill, no high grade and no money to be made here. The

[cupricity]

That would be expensive no?

[throughmud]

Cupricity, I think any way you cut it, a mill will be expensive.If you get a major involved, it might mean giving away a big part of the farm, and dilution would not be a viable alternative at this juncture.Your thought of starting small (say 1000 tpd) might be the best solution under the circumstances. Shakespeare is expecting to truck 199,000 tonnes to Sudbury in fiscal 2012 under the current

[tickle1st]

Boy...you guys have lowered yourselves.From pumping the 4500 tonne per day mill a short while ago to begging for a 1000 tonne per day to keep things going.How the truth seems to be sinking in.

[KerBer]

I think the first priority has to be to conclude a milling agreement with Xstrata. After that, a review of our exploration properties. What do we do with Shinning Tree? Nickel Offsets has some promise but we need to be more aggressive in drilling. Releasing drilling results once or twice a year will not garner much investor interest. The Fox Mountain drilling results were interesting but if we don

[tickle1st]

Kerber...not you....You're slipping over to the reality side of things. Be careful with your new found balls. Use them wisely...like you did in the past before you lost them.

[throughmud]

All good ideas, KerBer. I had expected that the continuation of exploration would be in the normal course of UMJ development. Perhaps we can move forward more focusedly in that area with the monkey activity off our collective backs.You are right, the company needs to shine more light on itself.As for the mill, this requires an ingenious solution, if we are to retain sovereignty. Perhaps this is

[prested]

Just that this is a rare mining company for 2 reasons. It is managed by people with knowledge and integrity, and it actually does mine ore. I am a firm believer that eventaully this will ensure the success of the company. To paraphrae, Strait is the gate, and narrow is the way which leadeth unto profit, and few there be who find it!

[throughmud]

prested, agreed. Through his diligence, RS has brought theShakespeare mine and UMJ to profitability. During the past year, I suspect he'slearned a few tricks that will keep him in good stead for the future. And I bethe can smell a rat a mile away.Now, how to increase the profits?mud

[throughmud]

prested, agreed. Through his diligence, RS has brought the Shakespearemine and UMJ to profitability. During the past year, I suspecthe's learned a few tricks that will keep him in good stead for thefuture. And I bet he can smell a rat a mile away.Now, how to increase the profits?mud