The folks on the SPQ forum that attended the AGM gathered some interesting information on UC Resources.

Regarding the Options Agreement with KWR & UC: John DeFur reports: “Mr. Novak gave the response that UC has NOT earned all it's interest”, (I think that UC has indicated $500K - $700K remains on their year two commitment. SPQ & KWR will have to contribute to the drilling budget also) “and we won't know all the final percentages, until such time as all the work has been done...A suggestion was made that UC is waiting for the final options agreement is signed and sealed...they hope they sort this issue out once and for all"... (Jeez … I would love to see a NR on this topic. If this were resolved and put to bed for ever, I would wager another 50,000 shares that the stock will touch $0.40 almost immediately) Neil than went on to say that “the UC options agreement should be all done within 2 weeks”

Regarding McFauld’s #3, Snug the Joiner reported “(UC Resources is the operator) - 37 drill holes complete. Dr. Franklin has redone the resources estimate, which should be available soon. (It was redone on Dr. Franklin's advice. He wanted the core re-logged because the geology is very complicated and heavily altered, which had compromised the initial logging by the drill team and onsite geologist.) The implications of a completed resource estimate (from the 37 drill holes) means that a 43-101 must be completed within 45 days. Shareholders should go back and review the assay results for McFaulds #3. They are spectacular. The 43-101 should detail all of this plus tonnages. Clearly, UC Resources will then want to get on its horse, and start working this project vigorously”. ... (Jeez … I would love to see a NR on this topic. If this were communicated to the market and people could envision a time horizon, I would wager another 30,000 shares that the stock will touch $0.50 within a week of their announcement)

Regarding McFauld’s #1 & #5, Snug the Joiner reported: “16 drill holes for #1 with 4700+ meters. Excellent prospects but UC Resources needs to get drilling on this. #5 has only 2 drill holes but Spider Resources has been pushing UC to get going”. (Get that options agreement signed Neil!)

In an earlier NR we were advised that there should be some measurable progress at La Yesca and perhaps some ore trials by mid June. Now this date may have been optimistic and I recall an exchange here on this forum that we should be looking for some results from La Yesca trials by mid July. Jeez … I would love a news release on this topic. If Jim could show us the functional feasibility on this new mill I would wager another 20,000 shares that the share price will touch $0.75 on a successful trial.

That was a lot of work just to get us back on par with what I perceive as the real value on UC Resources. But there is lots of blue sky too. Imagine what the share price would jump to if we NR’d that we have 8 very high grade targets verified by the recently received 20 channel AEM and NN (SPQ & NOT Geological experience)

Please Jim, we need several NR’s just to earn back our respectful share price … and cash flow by year end to see a $3.50 share price. (Sorry folks I can only make a wager I can afford to lose, but I will bulk up another 100,000 just to make the trip to retirement a couple of years shorter)