Hi again.

I thought that I had exhausted my ability to contribute to this forum but this has been a crazy week for the McFaulds stakeholders, and I am going to throw my two bits in.

229890 was surprised that the R. Romero “modern mill” at La Yesca was junk. So was I. Hamelin actually got it to work and predicted that we would get 700 te a day through it.  His trial runs did not create saleable silver or gold.  I should have been more suspicious based on the crappy photos on the UC web site.  Nevertheless, I held my position through 2006 & 2007.  Now Mr. Voisin says he can fix it and that it is going to be a “very profitable venture”.  Everything Jim says about La Yesca in today’s NR is obviously required to make it happen.  He says “It's expected the company will start mill testing and training personnel in June, 2008”.  I am interpreting this as a commitment because I share Jim’s perception that it “is a key component in the strategic development of UC Resources Mexican assets”

I also see it as a key component in the strategic development of McFaulds.  Jim shared the following with me in an e-mail in January “As for financing UC, we presently have enough funds to go forward on the LaYesca front as well as the JBL drilling. If LaYesca goes over budget, or we hit in the JBL, we may possibly be looking for additional funding, but at a higher share price, and not for a huge amount of money.  I anticipate LaYesca to turn from a cost center to a profit center in very short order after commissioning is complete.  I am not at liberty to discuss the projected number, but it will suffice to say that they will be a welcome relief that should replace further placements.  This welcome relief should finance our commitment to the McFaulds initiative through 2008 and 2009 

I am a little concerned about the content of the NR though.  Please re-read this portion; “UC Resources Ltd. has advised its partners, Spider Resources Inc. and KWG Resources Inc. that it will exercise its right to opt into year two of the McFaulds Lake option agreement in the James Bay Lowlands region of northern Ontario. As per the binding LOI between UC and Spider…”  So the partners are KWR and SPQ, but the LOI is between SPQ and UC ???  There was a lot of dialogue on the McFaulds forum and the SPQ forum about the JV agreement between SPQ and KWR that I do not believe was ever resolved. John Defur summarized that “KWR spent 14?? $$MILLIONS$$ to work on those 10 VMS, over many years, and now a 3rd partner (UC) would come in and only only spend $ 4.5 Million and earn 55%.”   I sure wish UC had a signed JV agreement with KWR & SPQ.  It’s all gentlemanly stuff right now because all the cash going out is UC’s.   I fear the possibility of litigation and $$$ impact to UC’s SP when a major wants to buy into the area and the partners KWR & SPQ start counting who gets what.

So BurpGardener wanted a crystal ball prediction.  I’m holding out to $1.40 prior to year end 2008.

All this for two bits!