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Easy now. That is a little extreme.
Right there with ya dak. Maybe I can write this off as a charitable donation on my taxes!
I wonder if he just wants to gobble up RSDS with AUMN once they start mining the claims. That way he only has to put one of the companies into the toilet to get things done.
My crystal ball just told me that there will be a 504 then a R/S then another 504 followed by an increase in the A/S to 100 billion and then another 504 followed by a R/S. I should have 10-20 shares left by the time Berman is done here.
-faz
I would think he thought, "better to do it in one shot and go big rather than just continuously increase the A/S little by little."
Who knows. I think a PR is needed before the market opens tomorrow or we are in for a bloodbath. Especially if there is a 504, then he will be selling shares very quickly before the PPS tanks.
-faz
browndawg,
I couldn't agree more.
"WHY CAN'T CEO'S TRUST SHAREHOLDERS TO UNDERSTAND THE NECESSITY TO RAISE FUNDS FOR COMPANY OPERATIONS AND NOT JUST DO THINGS TO CAUSE DISTRUST IN THEIR INTENTIONS?"
That is the first thing that went though my mind. I guess he just doesn't understand what this might do to the long term reputation. If he was honest about it and laid out the plan and reason for it, he would at least have his credibility and investors could have the chance to decide if the benefit in the end outweighs the risk.
But to do it like this and for shareholders to dig it up, that is just greasy.
As for the 504, I am just not sure what else he would need to raise the O/S to 10 billion unless he gave a load of the shares away for some strategic reason and that is the selling we saw today. The big blocks coming through of 4 and 5 million today was very suspect, especially at the end of the day. I feel pretty low right now. Need a few more beers for this to start making sense.
-faz
I have been right there with ya dak. I feel very cheated by this as I am a long holder of RSDS. I never planned on unloading until we got over .003, but now I am not sure that is even a reality.
-faz
Feel like a chump for taking the time to put the pictures up into the ibox. That may have been for naught.
-faz
My guess is for drilling equipment. Just a guess though. Maybe it was part of the JV with TRSI. We never did get the terms of that.
That would be very nice. Still, I would have liked to have seen a PR with a heads up. Berman might do well to shed a little light on things with just a boilerplate statement, even if it was on the website.
-faz
Excellent link. Like that site a lot...just not the increase to the A/S.
Gents,
I just got off the phone with the TA and the share structure has changed significantly. I actually called back to confirm the numbers from a different rep at the TA and they are correct.
The numbers as of August 22, 2007:
A/S: 10,000,000,000
O/S: 4,297,825,994
That is correct folks. There is good evidence from the selling today and the past few days that there is a 504 in place. We have had an increase of 2,500,799,998 shares in the past few days with the volume somewhere in the neighborhood of 250 million for the same time period.
This would account for the good news and the flat to negative response in the PPS.
I think we have been duped he folks.
-faz
Tell me about it. Sounds like he doesn't want to touch AUMN. Not sure why. I wish we had some kind of idea but what I do know is that this is going to erase whatever credibility that Berman has left with investors unless he comes clean and sheds some light on this move.
Just my opinion.
-faz
He is thinking about himself and not about the shareholders.
Funny, that seemed to be the values that this company lived by...work for the shareholders.
Pretty much the opposite happened.
-faz
Would fit the data on the PPS.
That is a pipe dream my friend. I am still having a difficult time getting in touch with the CEO for trophy and I still have no idea what Berman is doing with AUMN. I think a PR on that would be a good start and then we can begin thinking about a monthly newsletter.
This is one company I know very little about other than what i have dug up on my own. Not a single PR from this company at all. Pretty spooky!
-faz
Sweet board! I just got a my conceal carry permit today. I have had my pistol for about a year and finally made the move to get my permit. Unfortunately, here in the People's Republic of Denver, I had to jump through a lot of hoops and wait 63 days for it to be approved. However, I am now carrying my Springfield XD .45 with me wherever I go.
Thanks for the board, I have some reading to do to catch up.
-faz
Just need to get the results from the drilling for RSDS and we will see how high she can go!
-faz
Oversupply sinks price of uranium
YURIY HUMBER
Bloomberg News
August 22, 2007
Uranium tumbled 14 per cent last week as supply exceeded demand and the U.S. Department of Energy prepared to sell inventories of the metal used to fuel nuclear reactors, said industry pricing service Ux Consulting Co. LLC.
The radioactive metal fell $15 (U.S.) to $90 a pound, Roswell, Ga.-based Ux said Monday in its Ux Weekly report. The decline is the biggest ever recorded by Ux. The price of uranium for immediate delivery has dropped 35 per cent since trading at a record $138 a pound in June.
"Maybe in the fourth quarter we'd look for uranium to move up, but it could head lower before it goes higher," Glyn Lawcock, head of resources research at UBS AG in Sydney, said yesterday, adding he is "surprised" at the extent of the drop.
Record high prices have spurred increased supplies of uranium since the first half, when there was a shortfall. Current supplies of uranium oxide concentrate, or yellowcake, are five times demand, consulting company TradeTech LLC said on July 27.
Print Edition - Section Front
The Department of Energy stopped collecting bids last week for an auction of 200 tons of uranium hexafluoride, a processed form of the metal equivalent to 519,000 pounds of yellowcake.
"The activity surrounding this event has had noted impacts on analyst predictions and, in turn, on participants' perceptions of how this market could move," Ux said.
Uranium for delivery in December on the New York Mercantile Exchange fell $2, or 2.9 per cent, to $68 a pound on Monday. The futures have dropped 50 per cent in New York in the past month.
Kevin Smith, head of commodity trading at New York-based Evolution Markets Inc., said spot prices aren't likely to fall much lower. "I have buyers in the low $90s, so there is support there," he said.
Uranium slumps 14% on excess supply, auction
Uranium tumbled 14% last week as supply beat demand and the US Department of Energy prepared to sell inventories of the metal used to fuel nuclear reactors, said industry pricing service Ux Consulting LLC.
Uranium for immediate delivery fell US$15 to US$90/lb, Roswell, Georgia-based Ux said on Monday in its Ux Weekly report.
The weekly decline is the biggest-ever recorded by Ux.
The price has dropped 35% since trading at a record US$138/lb in June.
Glyn Lawcock, head of resources research at UBS AG in Sydney, said he was “surprised” at the extent of the drop.
“Maybe in the fourth quarter we`d look for uranium to move up, but it could head lower before it goes higher,`` he said on Tuesday in a telephone interview.
Record prices have spurred increased supplies since the first half, when there was a shortfall. Current supplies of uranium oxide concentrate, or yellowcake, are five times demand, consulting company TradeTech LLC said July 27.
The Department of Energy stopped collecting bids last week for an auction of 200 t of uranium hexafluoride, a processed form of the metal equivalent to 519,000 lbs of yellowcake.
“The activity surrounding this event has had noted impacts on analyst predictions, and in turn, on participants` perceptions of how this market could move,`` Ux said its report.
RSDS can't decide if it wanted 6's or 5's...guess it ended with the 5's
RSDS is getting worked over today
6's starting to stack up on the ask now. 2 already
guess so...1 more left on the 6's then we might hit 5's
3 @ .0006 x 4 @ .0007
Someone is letting loose at .0006!!
Nope, still 4 on the ask at .0007
Maybe he is going to sell the teeth they pull to the tooth fairy so he can uy some more at the ask!
Actually not a bad idea, maybe I should schedule an appointment with the dentist.
-faz
3 back on the 7's
NYBob,
Very interesting company. I have been looking at this for some time now. Very similar to RSDS, just not as many shares outstanding. Are you in this stock?
-faz
Utah Uranium Announces Drill Program Approved
August 14, 2007 - Moab, UT: Utah Uranium Corp. (the "Company") is pleased to announce that the notice of work submitted by the company regarding a 50 hole drill program on the company's 100% owned "Pinto" claims has been approved by both the Bureau of Land Management and the Utah State Ministry of Natural Resources. The final drilling permits will be issued upon receipt of the reclamation bond.
The Pinto property covers 344 mineral claims, consisting of 6,800 acres in the Henry Mountain Syncline of East Central Utah. The Henry Mountain Syncline is an enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely underlain by the massive uranium bearing Salt Wash sandstone member of the Morrison formation. The hydraulic migration of oxygenated water containing liberated uranium tends to flow down-dip within the formation into the trapped, oxygen free static water creating a zone of major ore concentration known as a roll-front environment.
View cross-section of basin geology
The first discovery, known as the Tony M mine, was made in the 80's by Plateau Resources, a division of Michigan Light and Power and consists of 10,898,000 pounds U308. Subsequently, the Bullfrog mine was discovered adjacent and north of the Tony M mine by Imperial Oil Corporation, and consists of an additional 12,924,000 pounds U308. These mines are currently owned by Denison Mines and are collectively known as the Henry Mountains complex, one of the largest known uranium resources in the Colorado Plateau district.
Utah Uranium Corp. "UTUC" has acquired the Pinto claims from Christian (Ted) Murer P.Geo, the prospector geologist who conceptualized, discovered and currently holds a production royalty on the Tony M mine. Ted has assembled the Pinto uranium claim package using the same data and methodology. Drilling depth to the top of the Salt Wash will vary in depth from 50 to 150 ft. depending on dip and topography. The present plan is to drill 20 initial holes to define the north-south trend of ore accumulations within the various sands of the Salt Wash Member. Based on area extrapolations, the "Pinto" could hold significant amounts of uranium and vanadium.
Utah Uranium Corporation is a Moab, Utah based junior exploration and development company focused on the acquisition of past producing uranium mines that can be brought back into production in the near term with low capital expenditure. All of the mines currently in the acquisition pipeline are within economic haul distances of the White Mesa Mill in Blanding, Utah owned by Denison Mines. The White Mesa Uranium Mill is currently the only operating Uranium mill in the United States.
On behalf of the Board,
Peter Dickie, President
Utah Uranium Acquires the Hoopie Uranium Mine
August 09, 2007 - Moab, UT: Utah Uranium Corp. (the "Company")(UTUC - OTCBB) is pleased to announce it has signed an Agreement for the acquisition of a 100% interest in 10 mineral claims, consisting of approximately 200 acres in the Montrose County, Colorado, herein known as the "Hoopie" Mine property (the "Property").
The property is located north of Slick Rock, Colorado, in the border area of the Gypsum Valley, Colorado and the La Sal mining district of Utah. Cumulatively, the historic production from the Gypsum Valley, Slick Rock and La Sal mining camps exceeds 19.6 million lbs of Uranium (U308) and in excess of 131 million pounds of Vanadium (V205).
The Hoopie Mine produced Uranium and Vanadium beginning in the early 1950's from the upper lens of the Morrison formation. Production was halted later that decade due to a severe thunder storm filling the mine entrance with silt. A small ore pile remains near the portal, which indicated strong radiometric readings when tested with a scintillometer (assays will be obtained at a later date). Additional work on the property consisted of drilling in the early 1970's, for which log records are not available.
The ore grades at the "Hoopie" mine are higher in Vanadium than Uranium which is common throughout the history of production in the surrounding area. The Company will also be focusing exploration efforts on the lower lens of the Morrison formation, which carries additional potential to produce Uranium and Vanadium ore. A 30-hole drill program varying in depths from 300 to 800 ft will be designed to verify the ore body and to explore the lower lens of the Morrison formation.
Consideration for the acquisition of the Property consists of payment in stages a total of $375,000 and the issuance in stages of a total of 400,000 common shares of the Company. The property vendors will also retain a net proceeds royalty of 4% of which 100% can be purchased for $1,000,000.
Utah Uranium Corporation is a Moab, Utah based junior exploration and development company focused on both the systematic exploration of the Henry Mountain Basin, where Denison Mines is developing their flagship Henry Mountain mining complex, in concert with the acquisition of past producing uranium mines that can be brought back into production in the near term with low capital expenditure. All of the mines currently owned or in the acquisition pipeline are within economic haul distances of White Mesa Mill in Blanding, Utah. The white Mesa Uranium Mill is currently the only operating Uranium mill in the United States.
7 minutes to get through the 7's
RSDS the company is looking good here IMO.
Need to continue to get the word out that this is a company about to do big things!!
-faz
or someone whacks the 6's...ouch!
I don't think that there is a whole lot of volume today, however, I can't understand how the 7's have been cleared off with the big trades that went through earlier.
Gotta stay positive though!
-faz
About time. We need to get a look at the 8's
17 million just went though and there are still 2 MMs sitting on the ask at .0007
Unreal.
We really just need a pop in volume to bring attention to RSDS.
-faz
I agree. RSDS may have received the permit for the Rage claims last week and on schedule. I would like to know what the process is like for actually submitting a PR to a firm like businesswire and how long it takes for them to get it out. Anyone have any experience with this?
-faz
Also a bummer to those who sold at .0004
NYBob,
Love your posts man. Thanks for the good info. I am not sure what the elevation is there. I now Blanding, UT is at 6105 ft so I would assume something around that plus or minus 1000 ft.
I would love to get my hands on the records for the area, but I think there is too much leg work to justify it at this point in time. Now that we have drills turning and are headed south, we should have first hand info of what is really down there.
All we need is to hit one sizable ore deposit and bam, we are off!
-faz