Replies to post #747 on United Resource Holdings Group, Inc. (URHG)

[themtharhills]

mclawhon,

The link you just mentioned is the link I mentioned in post #742 and commented on in #744.

There was another PR two days before the shareholder meeting on October 21 at:
http://www.otcmarkets.com/otciq/ajax/showNewsReleaseDocumentById.pdf?id=11919

The October 21 PR said they had received $990,000 so far in total.

The October 24 PR said the corporate checkbook was down to $12,000

I spoke with others in Reno who believe that the $990,000 mentioned in the October 21 PR is probably not the entire amount the lenders agreed to, that more is to come. I am not privy to the contracts, but if so, I speculate somewhere between $300,000 and $500,000 is still to be paid in.

At the shareholder meeting URHG estimated the monthly cash burn rate for URHG, United Milling, and Dun Glen combined to be around $80,000 a month.

They also announced that they projected $750,000 to be dug up in November and expected something similar in December depending on the weather, water, etc.

At the October 23 meeting the CEO estimated that another 1.5 million would be needed to get to where they want to be. (I think this was to retire debts, buy equipment, etc etc).
However, after further discussion where private opinions were expressed rather than an official position, the consensus seemed to be that 1.5 million would be a bare bones approach with little margin for error which might work, but 3 million would assure them of having enough.

Then the October 24 PR came out saying they are seeking 3 million more in funding. When I saw that I took it to mean that this would allow them to do everything at once (rather than wait for gold production to come) that United Milling and Dun Glen needed, and to retire all URHG obligations. I don't know how the $990,000 fits into that picture.

At the shareholder meeting they also discussed steps they are going to take to improve communications with shareholders, so I hope that will clear up any questions we might have. I can say that my main takeaway from the meeting was the projected November and December gold production figures.

This post contains only my interpretation of what I heard or read, so take that for what it is worth, but certainly, everyone I met in Reno seemed very confident that the gold is there. I am glad I bought more shares a few days ago.

- TTH