Message: Put a call in.
Your Vote:
Did you know?
You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)
I've kind of been scouring the junior sector over the past few months. I kind of cashed up a bit and went into gold and seniors (at least I didn't lose money) and am wanting to find some good deals in the junior sector.
Long story for me is, I've been a holder of UC since 2 PP's ago and frankly have kind of forgot about it as not much seems to happen. I circled back a bit when I saw the price in the 6 cent range recently and got up to date on many of the posts here. I've met Jim and was impressed with who I thought must be one hell of a miner in the prime of his career.
Anyway, comparitively speaking and considering this is a producing gold miner with a world of blue sky in McFaulds...it seems like a pretty sweet deal in this range.
I emailed Gary with a few questions, and I kid you not...he called me back within 3 minutes. Basically this answered my first question which was, does anyone work over there? :)
Apparently he has wrapped up all of his consulting gigs and is 100% devoted to UC. He said Jim is probably the best mining operator/guy he has ever come across in his career but sometimes doesn't do the best job with the tedious stuff, of which there is lots. He said he's a revenue/business guy and has lots of different experience in this and other sectors.
We talked for awhile and I didn't write much of anything down but figured I should share this here.
McFaulds - should be NR soon in regards to their drilling which should bring some attention to the company. Assays will probably be another 2 months as they are in the lab? They have been dealing with KWG/Cliffs and have done their earn-in to retain 55% ownership of these claims. Says they are in the neighbourhood of a big discovery (potentially).
I asked if there was anything going on in the ROF, because it seems like not much to me. He said there is absolutely lots going on there and that he quoted someone as saying this is something like the biggest discovery in the history of Ontario (or something like that) and Cliffs wouldn't be there if they didn't think they would be mining it, kind of thing.
La Yesca - says they could probably claim commercial production right now. 'Commercial production' is a term the TSX regulates for a company that can produce profitable for at least 4 months. He mentioned they probably need to invest more money there in order to reach greater efficiency. I thought he mentioned 400 once quickly which I was thinking he must have been referencing the tpd that they are running at, but please do not quote me on that. Says they have had their share of problems there but things seem to be running ok. They have been wanting to ramp up quickly to take advantage of the higher gold prices.
Basically a very decent conversation with a very decent guy. He said he is working on updating the website and dealing with all the nuts and bolts of the company that has been neglected. His role now compared to what it was before is 100% different.
I think the management change was a very smart one which will leave JV to do probably what he does best, which is find and get the valuable rocks out of the ground and turned into money.....and getting the financing to do it.
He actually talked quite a bit about their other property in Mexico (?) and how great he thought it was, but that is obviously at the back of the line. He's got lots of work to do, he's well aware of it and I think he's taking it head on. I think we'll see the fruits of his labour in coming months and I personally think UC is a good investment right now.
B
20 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply