Hoov

Here is some info from the UC Website...that might tie into the comments from the AGM.

The La Yesca project consists of a 600 hectare mining concession which includes two previous producing gold - silver mines. The project also includes a modern milling facility designed to process two hundred (200) tonnes of feed per day. Approximately two hundred twenty five thousand and seven hundred fifty (225,750) tonnes of tailings from the historic mine workings in the project area are available to be processed. The tailings qualify as an inferred resource under NI43-101 compliancy rules. The mill is being immediately upgraded and modified to achieve higher recovery rates for the extraction of silver from the tailings currently being processed.

"UC Resources immediate exploration focus for the build-out of the La Yesca project will be the La Colorada mine. This is a significant exploration asset located on the adjacent Xora concession with an inferred mineral resource of 11,730 tonnes grading 0.70 g/t gold and 619 g/t silver. La Colorado mine was a past producing gold and silver mine, tonnage mined is unknown. Lower grade gold and silver found immediately east of the La Colorada mine opening suggests that a zone of bulk mineable material may exist on the property, within which there may be additional high grade mineralization similar to the La Colorada vein.

The La Yesca mining district is underlain by Tertiary age andesite and rhyolite volcanic rocks that are part of the prolific Sierra Madre Occidental mining belt, which hosts numerous epithermal gold and silver mines and mineral occurrences. In the immediate La Yesca district there are at least 16 known gold and silver mineral discoveries, of which five are reportedly past producing mines. UC Resources is committed to a long-term plan for the district, and intends to significantly expand its land holdings.Management plans on using some of the funds generated by the tailings processing project will be directed to exploration of this project."

I did talk to Jim about a week ago...I got the impression that he would not rule out a JV to go forward with this project..I guess all options are open. I personally would like to see this happen just to speed everything up...we have a huge land holding in this area plus copalquin...we need help to make it happen. A loan to get the mine going is fine but cash flow is still 6-12 months away...there is no reason not to JV out the La Yesca surrounding area and also Copalquin...I would sooner have 50% of a large pie than 100% of a small slice.JMO.