Re:I keep hearing about UC U...Just what does UC have in the gound? Out Topic?!
in response to
by
posted on
Mar 15, 2010 12:23PM
First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed
"All UC owns a percentage of SPQ's VMS Cu Znc Deposits..and nothiing else in ROF to interest Cliffs....IF Clliffs were interested,in these VMS deposits, then they would buy out SPQ's Interest in SPQ stock FIRST...Mr. Novak informed me that any deal with CLIFFS would only be for the 5 JV claims...As it stands now, any talk about UC here is OFF TOPIC.....In my considered Opinion..."
I know JD. UC ROF claims may be of interest to someone else, I agree. A newborn-Spider minus Cr and Ni? A merged DDI? Who knows? Let's wait and see. UC's head is under a sombrero at this time, and it may or may not be part of what is going on between Spider and KWG at this moment. What do you really know about it? But I keep thinking that it is, even if I may be wrong. I've been so many times... Is it Out Topics for that?
Here is a excerpt from the last UC's MD&A. "Spider" is mentioned 5 times in 2 paragraphs...
"The Company’s flagship exploration property is its property at McFauld’s Lake, in the James Bay Lowlands. UC Resources has an option to earn an undivided 55% interest in KWG Resources Inc. (KWG)/Spider Resources Inc. (SPQ) properties: McFauld’s Lake East and West blocks. As per the option agreement, byspending $4.5 million on the exploration program, the Company intends to meet its obligations and earn the 55% undivided interest held by Spider and KWG. The binding option agreement was executed on March 6, 2009.
As of June 30, 2009, the Company has earned in 25% on an undivided basis by spending $2 million on exploration. During this quarter, the Company has provided SPQ & KWG financial records that verify that UC Resources has now completed it’s 40% year three earn in on the McFaulds property package by spending $3.25 million. SPQ and KWG have confirmed UC’s 40% earn in and, the Company has advise SPQ & KWG that it intends to exercise it’s right to earn in the 55% option on the property."
I've been flagged on this Board because I talked about KWG, DDI and CCC. Now, do you still think it is out-topic?
What do you guys have in being so sensible that we mention our joint-venturers whereabouts and implications? It is all speculation. Like many posters do in this very board... "As per..." Enough said and go ahead.
GLTA.
BB.