whaler,

In the past WRT ISM, you wrote “The dewatering permit is a red herring fro me. " personally that's how I view this Ursa Major Mineral share purchase.

You asked will they swing trade it on ups and downs, or is it a buy and hold for a possible future gain, what point would a control position be in terms of % of stock, all good questions you raised, but I'll decline speculative comment on any of them at this time. IMHO, all I continue to see is a "red herring".

I will add from a PR point of view I actually think it's kind of risky. What's the incentive to purchase ISM shares?

Why purchase one share of ISM at 0.22 (Fridays close)? Apparently ISM believes that Ursa Major Minerals is a good buy. At 0.085 (Fridays UJM close) that's 2.5 shares for every 1 ISM. Don't most investors want more bang for their buck? Taking ISM's stated reason of "for investment purposes" as truth, (which you aren't completely buying) shouldn't one assume that ISM isn't investing to lose money?

BTW, for those who may not be aware of the definition of "a red herring" here's a link.

http://en.wikipedia.org/wiki/Red_herring

Red herring may refer to:

• Kipper, a fish having been dried, smoked, and salted
• Red herring (idiom), a deliberate attempt to divert attention
• Red herring (logical fallacy), a deliberate attempt to change a subject or divert an argument
• Red Herring (magazine), a magazine focused on the new technology businesses
• The Red Herring, a comedy magazine at McGill University in Montreal, Canada
• Red herring prospectus, a preliminary financial prospectus offering a new stock (in red type)
• Red Herring Artists, an artist's collective based in Brighton, England
• Red Herring Surf, a brand of surfwear in Tasmania, Australia
• A character in the cartoon series A Pup Named Scooby-Doo
• A villain in The Tick (animated TV series). Short part in the beginning of episode 201 "The Little Wooden Boy and the Belly of Love".

Whaler, it appears you may have lost sight of the fact that when you first invested in ISM all those many moons ago, you invested because they were a "junior exploration company" who had several properties they (and I'll assume you) thought were worthy of exploration. It seems they keep adding properties, but where's the exploration? I don't recall you mentioning your investment was due to any perceived investment acumen you thought they possessed.

Do you honestly think, ISM buying shares of Ursa Major Minerals benefits those waiting for news on any of the follow up recommendations as per the Micon Report from 8 months ago?

Who knows, maybe in a few years time, you too might be referring to this purchase of Ursa Major Mineral shares as a "Red Herring", just as you recently referred to the application for a dewatering permit at Langmuir.

S.

PS Having read the opinions of some of the participants to these BB's on having a 51% major shareholder, it could make for some interesting reading further down the road. Maybe some of them should forewarn the current holders of Ursa stock, just exactly what they could have in store. LOL. BTW, what are your thoughts on ISM not pursuing the lawsuit that they initiated? Surely not another colorful animal analogy.