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AceofKY

UC Resources

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I'm considering throwing some gambling money at this explorer. I like their plan to utilize small mills to get enough cash flow to finance exploration without continually diluting the stock, and their properties look interesting.

 

Dr. B or Frizzers (or anyone else): Have you met the CEO Richard Hamelin? If so what is your impression of him? I think he used to be with ECU silver.

 

http://www.ucresources.net

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I don't know him, Ace, but the chart looks like is et to break out. It's at what our colleague Dr Bubb might call a Golden Inflection Point, though perhaps it just wants to get on top of those MAs.

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I havent met Hamelin, sounds like he spends most of his time in Mexico.

 

Interesting Daily chart - looks like a breakout coulod lie ahead, so I looked at...

 

The Weekly Chart ... update

aaimage2ob8.gif

 

The Weekly chart looks less bullish to me. A breakout above the triangle is possible. But so is a slide to $0.40, or even back to $0.30 or so, where the 200week MA lurks. The volume does NOT look quite right for an immediate breakout.

 

What about the fundamentals?

Stockhouse indicates...

+ MarketCap is : C$37,141,636 , on 75.8 million shs at $0.49 (not tiny!)

+ Directors are :

Richard J. Hamelin, Gary Monaghan, Neil D. Novak, Gregory Roberts, Bruno Weiss,

+ According to : http://www.canadianinsider.com/coReport/al...s.php?ticker=UC

 

One of the directors, Gary Monaghan, exercised 200K warrants at $0.125 and sold about 85k shares at $0.50

..Directors own : ???

 

PROFILE:

UC Resources Ltd. (TSX-V: UC) is an emerging producer of Gold and Silver in Mexico.

 

The Company's goal is to combine cash flow from production with a significant exploration upside from its mining assets. This unique approach is a reflection of the strategic business acumen of Richard J. Hamelin, President & CEO. His first career was in the mines of Timmins, Ontario, allowing him to understand both international finance and mining. Richard J. Hamelin resides in Torreon, Mexico and heads up all new and existing operational activities in conjunction with the Canadian office. UC Resources has recently marked several significant corporate achievements and is aggressively moving ahead with its 100% interest in the 152,000 hectare (1,500 square kilometers) historically productive Gold and Silver Copalquin Project in northwest Durango State, Mexico. The Copalquin Mining District is reputed to have produced at least 250,000 ounces of Gold and 11 million ounces of Silver.

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SUBJECT: Greg McCoach recommends UC Posted By: EcuSolidLegit

Post Time: 4/29/2007 09:11

 

From Greg McCoach January 2007 @miningspeculator.com:

“What I like about UC is the quality of their properties and the fact that they are very close to bringing on a significant cash flow from production. I believe the company will achieve their goal for 2007 for a 1000 tonne per day production target that will generate a 14-20 million dollar revenue stream. This will put UC Resources in a very good financial position to advance their projects without too much shareholder dilution. I like situations like this where the company can fund their own exploration efforts to find more mineralization. “

 

@: http://www.stockhouse.com/bullboards/viewm...p;navd=fwd&

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I'm glad you mentioned director ownership of shares, as I'm on a personal mission to never again invest in a company that management doesn't invest in. That's usually one of the things I look for first, but for some reason I got lost in the glitz and glamour of their fancy website (it's probably the best junior website I've seen) and forgot to look up share ownership.

 

Here's what I found from the Management Information Circular filed on SEDAR Dec 15, 2006, just prior to the annual meeting:

 

10% Shareholders: (there's only one)

CDS & Co (NCI) - owns an astounding 86% of the company, and "The beneficial owners of CDS & Co are not known."

How can you not know who the 86% share owner is?

 

Board of Directors shares owned or controlled:

Richard Hamelin, CEO - Nil

Gregg Roberts - 200,000

Gary Monaghan - Nil

Bruno Weiss - Nil

Neil Novak - Nil

 

This doesn't exactly inspire a lot of confidence. I think I'll avoid this stock.

 

Anyway, I think there's no way they can ramp up to 1000 tpd by the end of this year. Even if they could, there's no real official reserves and the known tailings resource would last less than a year at that rate. They need to prove up some resources to drive the stock price higher. I think I'll take a pass on this one.

Thanks for your help,

Ace

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10% Shareholders: (there's only one)

CDS & Co (NCI) - owns an astounding 86% of the company, and "The beneficial owners of CDS & Co are not known."

How can you not know who the 86% share owner is?

 

Board of Directors shares owned or controlled:

Richard Hamelin, CEO - Nil

Gregg Roberts - 200,000

Gary Monaghan - Nil

Bruno Weiss - Nil

Neil Novak - Nil

 

This doesn't exactly inspire a lot of confidence. I think I'll avoid this stock.

 

Yes. This looks like a red flag to me

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