Hello URHG investors,
Sorry it took so long for this update. I was at the shareholder meeting and found it to be interesting, exciting, depressing and enjoyable. This group of miners and investors was right out of a comic book and could be a great foundation for a movie on the modern small timer experience. There was fireworks in the meeting with old timers spouting off on that there is so much gold up there that we are not getting...to the previous managements failure to produce value while generously giving themselves stock and salary while panicking and in CYA mode over their lack of governance and fear of it being exposed. There was also Dana's charismatic descriptions of progress and both him and Kens reminder to us that they have been giving their time unpaid to this venture for two years. Strack got up and explained some equipment and processing logistics which helped everyone see the reality of gold mining and let us know that he along with Dana and Ken are believers that there is a giant win up there still if we stick with it but in addition they have developed a new plan to make money while searching for the mother loads…..and Im not going to say it in this post what it is…because either you know or you don’t. If you know then you know and if you don’t there is probably a reason you should be told. The trip to the mine was very informative and I have a better understanding (the good and the bad) of what we are up against as well as the potential. The equipment was turned on for us while we were there but it should be running all day every day. I guess the money just aint there to run it. And now winter is here again. I was told many times that they cant dig and process in winter….not true…they can….they just don’t want to cause its cold and they would rather go elsewhere and work till spring. All made sense to me, but Im just and investor outsider, and that is where the risk is. Who knows whats really in the minds of the players involved. They all have other interests too like other mines and ideas that they want to pursue. Cant blame Ken and Dana cause they aren’t even being paid. They are totally just trying to make this win for the shareholders, some of which are family. Hard to say what will happen with URHG but in spite of the negs I like it a lot. Big risk big gain. If you play don’t cry if you lose. It’s a friggen penny stock. Anyway if this becomes a loss it was due to Mark and his team so if anyone wants to complain direct it at those dbags. It isnt a loss till BK or you sell your stock. Im holding. I would like to hear from someone else that was at the meeting to give their insight on how they saw it. And maybe I will reveal what those of us know already know that could be a big big big win.
