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Message: NEWS - Mesa Uranium Begins Step-Out Drilling on Uranium Discovery
Interesting point. I sent an email to Wayne in investor relations not to long ago suggesting they reprice the warrants before expiration. I'm reposting it here. I used to doubt they would let these warrants expire worthless, but they aren't making any moves to fix the problem. Also, note that a single hole to 2500 feet in the target area takes about 3 days to drill. The drill rig operators put a soap like substance into the hole that bubbles up as they drill, and when it changes color they know they've hit their target. We should be getting results fairly quickly, in November is my guess.
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Thanks for your thoughtful response. I shared your communication with Foster Wilson, and both he and I agreed that you make some good points. We are endeavoring to increase our public profile without becoming overly promotional - being too promotional gets you on a squirrel-wheel of frenzied activity, from which you cannot relent without crashing your stock.
However, we appreciate that news makes the investment world go around, and we have every intention of having a steady stream of substantive NRs commencing this month.
Like you, I believe in the geological merit of our land position, and remain very optimistic about the upcoming results from our Lisbon Valley drill program.
Regards,
Wayne
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Sent: Thu, 6 Sep 2007 7:54 am
Subject: Re: Mesa Uranium
Wayne,
Thanks for the response. I don't imagine that it's news to you that the market for your stock is completely moribund. Days go by with perhaps only a few thousand dollars worth of shares traded. It strikes me as entirely a communications problem, considering the highly prospective nature of your claims and the solid geologic theory and history of the Lisbon Valley, not to mention your solution collapse Breccia Pipes.
My advice to you as a shareholder:
1. Improve communications dramatically. Your story needs to be told more often, and in the right venues.
2. Reprice those warrants and extend the term. That's just plain as day.
3. Keep the drills running and let the market know when samples are sent to the lab, when lab results can be expected, what those results are, etc. Many other small explorers do this regularly, which is price supportive, and in the end helps you raise capital for further exploration. Imagine: your warrants may expire worthless because you didn't update the market frequently enough!?! You could have hundreds of thousands of dollars in the bank from exercise of the warrants simply by communicating more frequently. It's a real shame.
3. Keep the drills running and let the market know when samples are sent to the lab, when lab results can be expected, what those results are, etc. Many other small explorers do this regularly, which is price supportive, and in the end helps you raise capital for further exploration. Imagine: your warrants may expire worthless because you didn't update the market frequently enough!?! You could have hundreds of thousands of dollars in the bank from exercise of the warrants simply by communicating more frequently. It's a real shame.
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