I find this suspension curious.  It's not that UC is just involved in McFauld's mineral play.  They are involved in Mexico big time, with the Gammon Lake deposit having an estimated 8 million ounces of gold!

You will notice on the UC Resources website that it is Jim Voisin who has signed the announcement from UC about the filing delay.  A great way to start a job!  Why him?  Why now?  UC's financial papers were sent to the auditors, but still did not get to the TSX Venture on time.

http://www.ucresources.net/investors/news/index.php?&content_id=149 

All I can think is that UC management has fumbled the ball.  I expect that it will not materially affect SPQ since there is a legal agreement and there's lots of money to be made... but I now feel a little less comfortable about UC's management.  Without strong management - which is not necessarily the case here - any company should be reviewed carefully when it comes to investing in it.

I wonder what John Kaiser now thinks about UC Resources?  Time for more due diligence, Mr. Kaiser.

Snug