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Good post Dave, all speculation as always with these stocks. Only thing is here it’s negative speculation going on past performance.

Isn’t more drilling required for proof of concept MrKing, looking at the presentation that would take 5 months all going well including assessment to supply a JORC coded resource. Also would the proof of concept/drilling/assessment equate to a measure resource? It’s would still only be around 30 holes drilled in total plus some historic ones. Still, funding is the priority at present as it’s all irrelevant if that doesn’t get sorted soon.

A non-Jorc inferred and indicated through a PEA that was conducted in 2012, which basically only says ‘potential’ hence why the other studies are usually carried out proving up the resource to allow the company to raise finance for production. It’s like the Zorb is getting planning permission to build a garage with no intension of building one.

UMH have had their pay off, they received 33m shares in URU plus a contract to supply UML with services. LPU own the licences now on Zebediela who are owned by UML. So unless UMH have given those shares back then they won’t have much say as the yearly covenants regarding spending etc haven’t yet been set.

Would you stump up £m’s on the back of just kicking dirt at the surface? Even with the limited amount of holes drilled I doubt anyone would pay much for the licence area in its present stage. It’s all about proving up the resource to add value. PEA, pre-feasibility, feasibility etc each stage mitigates the risk as each stage is a more in depth process.

It’s not courtesy of me zibi, it’s courtesy of URU. It’s also a standard statement regarding a mining stock that’s not yet proved up a commercial resource through feasibility studies. It’s why I found it odd applying for a mining licence at this time, think the current prospecting licence runs until sometime in 2021. At the speed that the Zorb is working here any feasibility studies/DFS etc wouldn’t be completed in time to make a decision to mine before the prospecting licence runs out hence why I think uru/Zorb has been pushed into the mining application because they can’t get another prospecting one. (See earlier posts). All a bit strange to be honest and certainly not in the correct order. If they have no proof through these studies that it is economically viable , which is the whole idea of them what value will a mining licence add to the sp?

No I’m not saying that, uru went from $475k ish (top of the head) to $78k within that period so that’s probably how they spent it, but what stage/phase are they up to now.

Cheers MrKing, so due to the lack of progress the Zorb has been pushed into a mining right application as they can’t apply for another prospecting licence even though the potential resource is still yet to proved as economically viable. Also regarding financing URU are telling investors that ‘theoretical full funding’ is needed (30th Aug RNS) not that finance has to be in place. If URU has secured finance already without telling investors they will be in breach of the rules as it will materially affect the sp. URU also say in the FY report ‘The Group has not yet established whether its mineral properties contain reserves that are economically recoverable’ , so if URU can’t establish this yet without further feasibility studies then how can the DMR under the SLP?

Too be fair AIM there’s still hope while still listed. The way the Zorb works anything can happen and no doubt will. He has a potential resource in an area full of producing mine’s but sits on his hands with it while taking deferred payments ($688k total). LTH’s know all this and most don’t defend him. Thing is even with a mining licence how much is this worth as a sale price today, not what people will expect. Now maybe I’m getting confused with another stock but I’m sure I read it was the last time uru could get a prospecting licence (Mr King, that’s your department with great research). Yet there’s still years worth of work to prove this is a viable and economically extractable resource. There’s some genuine posters on here who I hope get something out/back from this, it’s just I can’t see how the way the Zorb is pithing around.

Ok, death by a thousand cuts see you again soon

‘Snot’ ha ha Anto same thing though

Snot set me off down this road, blame him

No, then what ? Anto can’t wait apparently

It also cost URU $87k to the auditors for NOT passing them off due to lack of evidence.

No, no and no Ofd

So what do you think about the accounts not been passed off Anto?

So both of you can’t say why you are invested or provide any reason for anyone to invest? Yet claim the non invested words are irrelevant, you’d both be better off writing a book on how not to pick stocks it’ll be a best seller.

You’re not the sharpest knife in the draw eh Anto, you see you’re the one losing it as you’re the one invested in a company with no money who’s auditors haven’t even signed off the full year accounts through lack of evidence to do so. Great CEO of a listed company to allow that to happen.

Also don’t tempt me Anto as I could rip this company apart if I wanted too.

You deserve to lose money Anto