Whaler,

I think Ursa Shareholders might like the update provided by 'Victor' on the URSHA Major SH site.

Another round over, here's an updated recap on

The Action to Date:

Miller leads with a weak jab calling for a meeting, Sutcliffe counters with a meeting call that Miller didn't see, then lands a perfectly timed placement to the jaw. First Round to UMJ/Sutcliffe

Miller looks hurt, cries foul and tries another another weak jab threatened injunction. Sutcliffe counters with a right cross placement closing that staggers and angers Miller. Second Round to UMJ Sutcliffe

Miller stumbles forward and throws a Court case, a glancing blow that Sutcliffe anticipated, Sutcliffe returns with vote postponement, a hard blow to the mid section that has Miller gasping and red-faced. Third Round to UMJ Sutcliffe

Miller, still stunned by vote postponement blow, stumbles out for next round whining about Sutcliffe counter punch, referee rules it is Miller who has fouled. Fourth Round to UMJ Sutcliffe

Between round analysis:

Miller's contention: " We are disappointed that the private placement was allowed to proceed without Ursa first obtaining shareholder approval. We are asking the Court to recognize and uphold the existing shareholders rights to voice their displeasure or agreement with the current management of Ursa at the upcoming shareholders' meeting without the inclusion of new shareholders brought in by management of Ursa. This is an issue of governance and protecting shareholder rights. We encourage all Ursa shareholders to express their opinion on the private placement by contacting Inspiration at randy@inspirationmining.com so that their voice can be heard by the Court on March 1, 2011"

Miller seems to be claiming that the placement was for purpose of including new shareholders brought in by management to influence a vote at the meeting Miller had requisitioned. Now that the Courts have ruled the requisition was invalid, Miller's contention that the placement and new shareholders would violate shareholders' rights at a meeting that was invalidly requisitioned seems to be a circular argument.

If Miller has any smart corner men they should consider throwing in the towel right now. Does he think a judge will rule that the placement should be canceled so the resulting new shareholders won't influence a vote that isn't going to be held?