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iswt, the stock price tells me I'm right! Reread that press again..."U Mining Resources Inc. (PINKSHEETS: UMNG) announced today that management has decided to initiate an aggressive Stock Buyback program of its trading shares in order to overcome continuous illegal short selling positions commencing with the announcement of this press release."
The key word "Aggressive" It has really been aggressive!!
Regardless, this is one of the many baseless, open ended press releases. I know its hard to recognize when your money is on the line.
JUNE 22, 2007!!!
NEW YORK, NY, Jun 22, 2007 (MARKET WIRE via COMTEX) -- U Mining Resources Inc. (PINKSHEETS: UMNG) announced today that management has decided to initiate an aggressive Stock Buyback program of its trading shares in order to overcome continuous illegal short selling positions commencing with the announcement of this press release.
This buyback program is taking place in conjunction with an institutional finance group currently working with the Company and combined with a group of friendly UMNG shareholders who will be buying stock on a daily basis on the open market.
Management stated, "This action reflects our strong belief in the fundamental value of the Company. At current prices, we believe our stock is undervalued and that it represents an attractive investment opportunity. We believe Uranium prices will continue to increase and management will keep securing and acquiring strategic Uranium territories. We are building our asset base while conducting geologic reports and lab tests to measure the value of our proven resources."
Management is currently waiting for the imminent release of its NI-43-101 reports on Laurentide 1 and 2 properties. U Mining can then make a final decision on the closing date of the audited financial statements in preparation for filing form 10 to up list on the OTC.BB.
More information on this and other pending matters will be made available to shareholders on a timely basis.
Does anybody have any idea what the current float is here?
-Thanks
-Oilin07
Well said loanstew. Thats exactly how I feel.
Take-care
-Oilin07
Loanstew, Every point you make is TRUE as well as extremely important and vital to each shareholder of UMNG. Nobody can deny the facts that you are stating. Nobody! Thanks for being one of the honest ones and telling it how it is.
-Oilin07
Thats great. em
His name was Ryan. em
Call them yourself.
I called Investor Relations and talked to what sounded like a young man who told me there was supposed to be one over a month ago, and that this Jean guy told him that. He then said that they are not returning any of IR's phone calls and that as far as they are concerned they will not be giving out false information, so he said there is NO 43-101 and NO uplisting.
To all:
There is officially no 43-101 or uplisting.
If I'm wrong I'll be the first person to apologize and take back every single thing I said about the company and their so called leaders. Unfortunately it is what it is.
**Everyone needs to read what Loanstew just posted. Good factual proof about UMNG's shares. It is my opinion there will never be a 43-101 & there will be never be any uplisting.
Investor Relations even lost faith in what this John Michaels guy has been saying. They have a reputation to maintain and will not be had.
*The TRUTH:
"So 100 days, over 42 million shares traded on a float of supposedly 15 million.
And the price has fallen from .225 to .05 (being on the high side if you want to paint the tape, .036 if you don't).
There are no shorts. Don't believe it. The MMs didn't do this.
Think about it.
IMO/FWIW"
If you dont already believe it you guys have to admit that this is looking like a complete scam. mks429, Lexit, and Iceman from the ragingbull board may have been right all along. No TSX name, No 43-101, No stock buyback, No uplisting! Useless and meaningless press releases, the hiring of boardmembers from a message board!! Come on guys...YOU KNOW YOUR 100% NOT AT EASE UNLESS YOUR ON THE IN!! Quit blaming the market makers etc!!! Loanstew is right.
Anyone going to try to paint the tape today??
"there is much room on the road of the complete 0 or subpenny for this stock..."
-The stock price cant go below 0!
-I have lost too much here to pull out now. It would be more worth it to hope for a miracle than to sell now.
You might get your wish Howard. em
What do you all think? .03 today??
I see this stock is near its low, What is the potential you guys think this stock has? Any target price?
Loanstew, your right. em
Justice for all!! I'll be back later this week to see if anything is new. Later.
-Oilin07
iswt...you said
"but they have already lots of shares" 1. How do you know 2. If they havent been selling then who has?
Mr. DeMontigny told equiti-trend back in the first week of June that the reserve report would be out in two weeks. Equiti-trend was then telling its current and prospective shareholders that the much anticipated reserves report would be out by the third week of June. We are now in the last week of July and of course we have no reserve report. Now why would Mr. DeMontigny tell equiti-trend that if he had any idea that it might be out after that? Think about it.
There is no NI and I would bet we dont get one.
I see the news regarding the 43-101 continues to get pushed back. It should be later this week, no wait, it should be next week, or now even like Klon is saying maybe two weeks from now. I am not starting to like the pattern I see.
If this company is not a scam, which it is yet to be determined for sure, the opportunity exists to reap huge profits. The overall demand for Uranium is massive. Demand has outstripped and will continue to outstrip supply. If a company can prove they have quality reserves alone, they will attract a lot of investors. Proven, quality reserves opens the door for much much more including the interests of other companies. I hope for the working mans sake as well as all the good and honest people here that this company starts to walk the walk and quit talking the talk, because as far as I am concerned all we have had is talk, and even that hasnt been done good.
nice buying opportunity here at .026
Exactly right EarnestDD. I'll end on that for today.
*You have to realize that investing in a non-reporting company is taking a huge chance. There are a lot of criminals, manipulators, thieves, and con-artists who know how to work the system all to make themselves a mighty buck at your expense. You cant be naive.
Klon, That only pertains to trading. In the end what causes a company to go bankrupt, etc is the company itself. We cant blame Wallstreet for everything. Yes Shorting etc. But not fundamentals.
THERE IS NO 43-101!! The proof is there!
DO YOU SEE ONE? My statement is backed up because there isnt one!!! WHAT PROOF DO YOU HAVE THERE IS ONE???!!!
Back it up!!LOL I would say at a minimum the last three weeks back it up!
Many non-reporting companies think that because they dont have to report that they could get away with things.
Loanstew,
The company might continue pushing back the 43-101 because there is no 43-101!!
A good point made from another site: UMNG still has...
NO REVENUES
NO SHARE BUY BACK
NO N.I. 43-101
NO FORM 10
NO UP-LISTING
NO CURRENT SHARE STRUCTURE
NO ETHANOL
NO URANIUM
NO CLAIMS IN THE COMPANY NAME
NO NAME OF THE TSX VENTURE COMPANY
NO BIENNIAL STATEMENT FILED WITH N.Y. STATE DIVISION OF CORPORATIONS
Whats it going to be after next week? The week after?
Do you want to know whats really funny!! When I called Investor Relations, the gentleman I talked to said to go to investorshub.com!! He said there are several large shareholders who post there and keep him feeling positive!!! That is NO LIE either!!
Spice, I would hope as someone invested in this company you would care whether or not those claims are registered to UMNG!!