Lieutenant Dan, You've got new legs.
posted on
May 26, 2011 07:59AM
And UC has some new legs too. According to the April 28 news release, we ARE the owner and operator of the JV with 55%. This has been accepted by KWG and Spidey. My own thinkin says that the operator decides how to proceed, with a chit chat with the minor partners. Thus, I doubt Cliffs can dictate the speed and direction of the ongoing drilling, surveying etc up in Ringo Fire. Quite the contrary, I think. UC can say, OK lads and ladies, we are going to spend 5 million over the next 6 months, cough up your share.
The April 26 news release indicates that the current profit on La Yesca more than covers all the ongoing operations in Mexico, IE: free cash flow at the minimal rate we are currently operating.
These news bits have propelled us from 6.5/7 cents all the way up to 8 cents. Whooop!
This stock is clearly in the Missouri Group (The Show-Me State). I believe the numbers are required to be out by May 31. I will send a message to Jimbo to confirm this and the issue of who decides what happens in Ringo Fire.
Aafab my brother, Yukon Jack and Jack Daniels? Far beyond my budget at this time. When we hit a buck by Christmas, Crown Royal and Bushmills Irish Whiskey for me. But beer is better.
The xTrucker.