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The last number I saw for Langley was 35 pence. Or about 63 cents.
Not a good deal so far...
Covering of UCAD
Since the announcement of the UCAD dividend on July 19th there
have been 5,906,006 shares sold. This does not include today's
volume.
If this entire volume was used to cover CMKX shorted shares it
would cover almost 614 Billion shares.
Obviously not all shares were bought buy MMs to cover the dividend.
My point being that if there were shorted CMKX shares to cover
they should have been covered by now. I don't hear to many more
posters saying they didn't get dividends.
The volume peaked at 1.2 million on 10/5 and has been declining
since. I would guess that almost everyone, if not all, investors
have their UCAD dividends. Splitting the stock 3 for 1 will
have no affect on the CMKX cover.
GTC
If I'm reading Junkyard's post correctly, and that is in fact what's
happening, then the SEC is trying to cover the naked shorts and
not move the price. What good does that do us for the short
squeeze theory?
Seems the SEC is bailing out the crooks...
GTC
Churak,
The truth is most posters read both boards to see all
sides of this game...
GTC
36%
It's also possible that the only reason UCAD is rising in pps is
because the MMs are buying to cover. What happens to the pps when
they stop buying?
GTC
There's been any number of theories around as you know.
Someone had thought that the reason the dividend was cut from
15.5 shares per million to 9.62 shares per million was that the
UCAD dividend had to be distributed to all outstanding shares,
naked shorted, or not.
Using that assumption then, the difference between the two
payout ratios would be the naked short shares. So...
First Dividend Ratio
7,500,00 UCAD shares divided by .000155 is (roughly) 484 Billion
Changed Dividend Ratio
7,500,000 divided by .0000962 is (again roughly) 780 Billion
The difference between the first and second payout ratios is
296 Billion shares.
Awful close to that 300 Billion added to the A/S. Maybe the 300
Billion was added to the A/S just to keep shares counts in line
for the first dividend.
My other though was that UC bought something for 300 Billion
shares at the August meeting. I don't know if we'll ever know.
GTC
I think the UCAD deals pertains to all CMKX mineral claims, not
the UCA mineral claims. In other words the 1.9 million acres CMKX
has rights to. I don't think this deal with UCAD flows through
to the UCA claims. I could be wrong.
Anyone know how these deals get structured?
GTC
I don't think one has to do with the other. If UCAD wants uranium they will have to buy into the claims but not through CMKX.
GTC
The fee is only if you petition to raise the restriction.
If UCAD raises the restriction it costs you nothing...
GTC
The rounding process happens after the fact. In a week or two you
will see the rounding shares in your account. According to my calcs
they owe me two shares...
GTC
I don't think it's just paper shares that were sent to the DTC. I'm sure the file included electronic records that could update brokerage houses overnight. Seems it would be a fairly simple thing to do.
GTC
Typical Willy stuff. The guy hasn't a clue!
In the 25 years I've been investing I've never seen the dividend
ratio be changed after the shares have been distributed, Never.
To expect that to happen is a pipe dream...
An O/S of 200 Billion is another pipe dream. UC went to the big
meeting in August with 300 billion new shares in his pocket. I'd bet
he bought something with all those shares. They weren't sold into
the market a little at a time they bought something.
Let's move on to the CIM divvy.
GTC
It's all based on how you read that PR. UC will not receive the
dividend on the 40 billion shares because he doesn't own them
anymore. Dividends will be paid on those shares just not to UC but
to Nevada Minerals.
If UC and his family do, in fact, own more than 51% of the stock,
why would they turn down dividends, they'd be crazy to.
You received your distribution, and this ratio, for at least the UCAD dividend, will not be changing.
GTC
Do you think Nevada Minerals got the dividend on the 40 billion shares - you bet they did...
GTC
Zen,
Try this picture...
http://www.investorshub.com/boards/read_msg.asp?message_id=4195094
GTC
Thanks Sugarpaw,
Reading Willy's post is like listening to Kerry last night. There's a guy on first then at the end, bases are loaded. Which is it?
As usual Willy invents numbers to make his thin case...
Nothing's changed there - good entertainment...
GTC
In netiquette CAPS = SCREAMING!!!!
GTC
I hate the caps key... makes it unreadable...
GTC
Mach,
All well and good there's big money on the sidelines. The rumors
of that abound. The question I have is if this money is waiting
for fully reporting wouldn't it make more sense, and be less risky
to buy the whole shebang, right now, for $100 million, JVs and
all? It's way cheaper then the supposed billions on the side line.
GTC
Janice's day shifter or what?
Explain to me why anyone had UCAD shares put into their account.
Just one reason will suffice. "A mistake" is not a good reason
with so many investors receiving shares.
I'm ignorant? I have to laugh...
GTC
2nd quarter China had the largest domestic growth of any country in the world. About 12.5%. The CNN discussion was about how they will soon overshadow India, Japan and the Koreas. Those countries ar getting nervous because their growth may decline as China's grows.
GTC
Prospector,
From yesterday's PR it seems that no restricted shares have been issued yet. Why then would someone put shares in your account? The only logical reason is to cover the dividend. The fact that these dividend shares ar unrestricted means that they were bought on the open market.
Maybe there is another reason for this but I can't think of one. The MMs got caught and are looking real stupid. If the SEC or anyone else needed proof - here it is.
I was never a believer in the naked short share theory. I am now. The size of the NSS is another question. I had another post a little earlier that guesses the max size at being 102 billion.
Should be interesting on Monday...
Be Well
GTC
*****P L E A S E___R E A D*****
If you receivced shares of UCAD in your account it's because the
CMKX shares in your account are naked short shares.
Since the UCAD restricted shares will not be issued until 10/6
the UCAD shares in your account are covering naked short shares
of CMKX by the MMs.
The MMs are really unhappy because they got caught. If the real
UCAD dividend had been paid as planned no one would be the wiser
but they got caught shouting when the music stopped and stand out
like a sore thumb.
If you have shares of UCAD in your account you need to call your
broker first thing Monday morning and demand that they have
certificates for your CMKX shares. They will then force the MMs to
get certs. The MMs will have to go to the market and buy real
shares to gets the certs to cover.
If there are no sellers of CMKX Monday morning then the share
price should rise. Let the squeeze begin.
I would guess there's a few MMs sweating it out this weekend. I'm
so upset over that. Hopefully Monday is a bumpy day... but I'm
sure the MMs have more tricks up their sleeve.
GLTA
GTC
A Thought...
The original PR for the UCAD dividend was July 18th.
From July 19th until today there have been 980,924 shares traded in UCAD.
For arguments sake - let's say all of these shares were bought by
MMs to cover the dividend on the naked short CMKX shares.
Divide 980,924 by 9.62 (ratio per million)and you get 101,967
million or almost 102 billion shares naked shorted by the MMs
that had to be covered.
The truth lies somewhere in the middle because all these UCAD
shares did not go to cover the naked short CMKX shares.
This would mean that the largest the naked short position could be
is 102 billion, nowheres near the trillion share mark rumored.
Another idea, is that the reason investors got unrestricted shares
in their portfolios is because these were shares bought to cover
NSS CMKX shares in their account. These would have to be
unrestricted shares. The MMs did not know until it was too late
that the pay date would get pushed until 10/6. They were left
very exposed by this move. Brilliant I think.
If you got UCAD shares in your account call your broker because
there's a possibility you are holding NSS.
Any ideas?
GTC
GM,
In the case of Fidelity, they update their accounts at night. The shares may already be there and in your account but the update hasn't occured yet. Check tomorrow...
Maybe you have NSS...
GTC
Srvn,
Just open the Works file with Word and then save it as a Word doc. If Word burps at you it may be because you didn't fully load the Word application which includes convert templates.
Good Luck...
GTC
Prospector,
I don't think that the MMs can wait a year to cover. Friday or a few days after that I expect the UCAD shares in my account as does (hopefully) everone else. If the shares don't show up I'll be on the phone demanding them from Fidelity. Someone, Fidelity, MM, or UCAD has to cover my diviend.
I guess it's possible that they naked short thm into my account but I have no way of knowing that unless I ask for a cert.
We'll see what happens, I don't think there'll be any problem with this dividend. It makes no sense for the MMs to compound the problems.
GTC
Srvn,
This 7 billion on the side lines with EF Hutton is a stretch.
Something to consider is with that much money sitting around waiting for a share structure announcement why not just buy the whole deal JVs and all right now. It would have to less than $100 million don't you think?
GTC