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Companies a complete joke. Our spokespeople went quiet. Shocker
I'm expecting some news. And the only news that will move the stock (or keep it from moving down) are the converts being bought out.
Agreed. It's so obvious
What I'm confused at is if there is so much gold and the only thing that matters is the asset.... Why aren't the directors and/or the Ceo spend a measly $10,000 and buy 2m shares to install confidence?
Well... Usprinvestor. How much money is left to convert?
Every $100,000 is 10,000,000 shares in dilution.
Adrock
The IB has no interest in working for uspr when the stocks at a penny. They're paid in stock and their fee alone would end the company. It's over. Face it, deal with it, learn from it, and move on.
Wouldn't the reverse be true as well. The coverts were piling up gains and stopped selling to kick tax to 2016. First week of jan will be the end unless management announces something.
Awful day on light volume
Adrock,
How do you figure? Or when you say "matter of time" you referring to another 3-5 years?
Maybe the extra 50,000,000 shares dilution with another 50,000,000 coming is our New Years present
How many shares do you think it will cost to have an outside investor inject considerable funds?
250,000,000?
Looking good
Are you seriously posting a quote from from Dr berry which has to be at least two years old??!!
Waiting for 3.5 years for $1b of an indicated resource which isn't a figure that the QP would have to be legally held too isn't a great result. Management needs a plan to hold off the converts asap or this game might be over before the new year.
I despise Maxny but he's been spot on...
The stock is clearly reacting to that news....
Where are these assay results and has the clock started (60-90 days) for the reserve report?
Silence from management and more mismanaged timetables.
It's embarrassing
Why is the stock still 6 cents with all this positive news in the future? Converts?
Published Results are irrelevant as the stocks done nothing but plummet. We need a 5/10m investor asap or we're going to dry up.
If I hear one more time the convert is "almost" done selling I'm going to throw up. This could turn into, if not already, a run on a bank.
Panes not going to jail. You think the U.S. District attorney is interested in using his resources in prosecuting a a penny stock Ceo? Please...
Pane is just trying to disrupt things enough so uspr figures it's better to settle for a few million shares (even though there is no case) than continue this drama.
Frankly, pane and Spano shouldn't be the focus here. I'm not sure of the convert schedule, but if uspr gets hit with another chunk they might be done. It would be a shame considering the potential asset here.
Management needs to really prove its worth and figure something out in the next 10-14 days.
No matter how bullish anyone is regarding uspr anyone with an ounce of common sense would admit this doesn't look good. No JV is even possible with this law suit pending and that's probably why pane filed it.... To extort shares.
Goldcorp has their own problems.
The fact the stock isn't moving has to do w management not being trusted.
Im as discouraged at this share price as the next USPR veteran but I'll say this. For as little people who know about the stock it's holding up pretty well as these converts continue to blast out. Tons of shares (relatively) the past few weeks and there has been buyers down here. Frankly, that demonstrates the belief a small group of people have in this story. Does that mean it will work out with a drill, prove, sell? No.
It still would be a miracle with how gold and the metals continue to get pummeled. What outside investor would pay "up" for a stake in a mine at this point? Only way uspr succeeds is if there is a demand for gold mines and private equity starts bidding around the globe and uspr is bought up using other people's money. Sovereigns won't have interest in overpaying.
Anyway... Hopefully Burney can put together a full feasibility report for the main zone before we whittle and die.
Who's John?
It's clear berry didn't receive the shares bc he would've put himself at risk. He spoke about a stock and a week later it was announced he was being given 1,000,000 shares.
Clear conflict.
Stay independent? Please....
Happy 4th everyone
Anyone see the zero hedge report on citi as Jpm metals derivative exposure? Federal reserve is clearly selling naked metals contracts to suppress price.
It's obviously a convert blasting out or the ex CEO dumping and required volume hence the bs pr. The story is the assay results, then a 3rd party investor, and then execute a feasibility.
We shall see
For a company looking to get bought out this type of promotion nonsense is embarrassing. Assuming that's uspr. Certainly looks like it
Be realistic people. There won't be any significant movement in the stock until an outside investor injects serious capital (5-10m). This could potentially be possible depending on the assay results. Then after another 8-12 months we might have proven reserves.
Happy Father's Day.
I hear yA on the proven reserves. If today's news was really tremendous the stock would be up more than .005.
Uspr will never get to proven reserves however they are trying to compile enough positive data allowing them to raise additional capital which will clean up their balance sheet.
The stock could approach a $1 if the raising is around $10m for 5%... All still a long shot but what's happening now can only be interpreted as positive.
Hartman resigning means nothing however if one thinks a 5,000 meter drilling program will create a scenario where the property is sold for billions you are solely mistaken. The company still needs to raise a few more million bucks and spend another 6-18 months of drilling to generate significant enough measurable reserves. The stock might move back to the 30 cent range prior to results but there is a long way to go.... be realistic people.
I'm excited for the drilling to begin but seriously.. 5000 meters is nothing. It's a start, but in the grand scheme of things, it's nothing. The stock won't go anywhere until we have incredible results from this drilling campaign AND a sizable financial commitment from an outside investor to drill the remainder of the property.
This is all an opinion based on simple DD I did... I'm assuming everything... but i think my thought process isn't that far off.
and when you say "untrue" how do you know I'm wrong? you can disagree with me, but you can't say untrue...
Why don't you just tell them
There were two reg d filings stating there was a total of $537500 raised via a private placement. Should be enough to start the drilling but there is no question other small cap investors will be required to continue funding private placements over the next few months to complete the 5000 meter drilling.
If the results are staggering then management will be able to have discussions with much larger investors to drill the whole property.
In conclusion... This is it.. If the results aren't through the roof... Its over. Risky, but I don't mind the strategy. The stock will start to become very volatile when results begin to leak in a few months.
The stock has a horrific tone to it right now and as someone who has been involved for 3 years anyone with an ounce of common sense needs to be nervous this isn't going to work out. Management is a disaster and should be embarassed of how they've handled the past years events.
I'm still trying to get myself out of this position but can anyone confirm jerry pane is actually resigning for health reasons?
Bc I have a feeling he's resigning, not forgiving shares, and since he technically won't have any control over decisions, the plasma deal will now definitely go through thus significantly diluting shareholders.
Basically in my opinion he was advised by legal to resign to eliminate a conflict of interest.
That's potentially the worse response I've ever heard. You're telling me your interpretation of that 8-k was USPR was waiting to see if MAG is STILL interested? You might be alone in this one.
I'll get my money back here as my cost is so low, but I've had enough of management. Literally haven't met one deadline.
Good luck longs
I think this is kind of obvious people. Duane Morris was convinced the only way they will receive part of their payment and potentially their entire payment (or more) was to remove the lien from the property. One would think the potential funder of MAG (or any funder with a brain) would require the lien to be removed before any deal was agreed too. It's tough for me to provide credit to USPR management/ Pane, but he/they actually did a great job convincing Duane Morris this would be the only way they could receive any $$. Obviously I'm not 100% sure but that seems logical to me.
However, it is concerning the share price is tanking...
Assuming the law firm can't sell the shares for 6 months. No?