golden08: What your missing is;
UCOI isn't an exploration company, it's the re-activation of a previously operating mine.
The company has a large tailings reserve, and they failed to process that for revenue, instead management squandered money on what are probably nearly worthless claims.
In hindsight, this company looks like it's more interested in putting on a good show to mine investors pockets via share dilution, rather than mine for precious metals.
When the reverse split happens, typically the share price of junk companies shortly thereafter continue to decline.
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