Uruguay Mineral (SEE LSE:OMI) Share Discussion Threads

[robson1974] 13/10/2009 16:51

not much movement/volume in canada but spread tighter than normal and FVX is starting to move up to close the gap

[robson1974] 13/10/2009 15:34

brilliant thanks adam

[themoneymonster2] 13/10/2009 15:32

Cheers for the update adam.

[adam] 13/10/2009 15:29

FWIW. I think makes a lot of sense for both parties, so a good deal. Was at AGM - Pantanillo low grade but heap leachable and near surface. so where you have strip ration 7:1 for Arenal, you will have 1:1 for Pantanillo. Oxide To depth of 150m and near surface. Easy to mine. It looks very exciting for prospect of El Penon look alike. Max Oemick is very well connected in Chile and the rain maker. Wil bring other deals to the table. He will own 3-4% of UGY after the transaction. Seemed very relaxed that the 2-3moz will be NI43-101 compliant in measured-indicated at low cost as disseminated.

[themoneymonster2] 13/10/2009 13:50

$19.2 million would be £12 million in cash. Market cap is currently £18.5 million. Looks very cheap on a forward looking basis.

[themoneymonster2] 13/10/2009 13:47

Paul, Did you go to the AGM?

[themoneymonster2] 13/10/2009 13:23

Can you go and read the rns again as you have stated a few errors in that short post!

[stegrego] 13/10/2009 12:57

I was quite suprised this opened up so high this morning.
Results show that this is a very marginal producer at the $900-1000 range. Very very costly and although they say they want to achieve $750 (still expensive), that will depend on everything going well. The appreciation of the Uruguayan currency wont help on that front.


However, if gold goes higher then it should do well. If gold falls back below $1000 then its a definite sell.

Markets look forward not back so perhaps its in the price already.

[themoneymonster2] 13/10/2009 10:46

mm's just trying to get cheap stock, they still want 40p for 10k shares.

[atlantic1953] 13/10/2009 10:31

ghg - Paul this is another frr type situation where Management have a poor record of delivery.However unlike frr they are debt free sitting on cash and looking likley to generate substantially more cash.

[themoneymonster2] 13/10/2009 10:29

Surely they are not going to give me another chance for another top up! Pre AGM shake?

[themoneymonster2] 13/10/2009 09:59

AGM at 11am I believe. Paul, are you and Simon attending?

[robson1974] 13/10/2009 09:39

gold rocketing higher above $1060 now

an auspicious day for UGY to get out on the front foot and tell investors the good news about a high cost gold producer on 1x cashflow with optionality on exploration and development projects

[robson1974] 13/10/2009 09:29

any breakout requires a positive re-test as confirmation, i suspect we just got that

my price target going by the charts is 100p

[qpwoei102938] 13/10/2009 09:27

I also agree there could be some hedging going on.

[qpwoei102938] 13/10/2009 09:27

39.5p trades are buys.

fact.

[eye2] 13/10/2009 09:27

just found this off cr thread, is there a price target?

[sloppyg] 13/10/2009 09:25

Couldn't resist a few more at 39p given that it must surely be a stronger buy this morning than yesterday. Not sure if the price will be artificially held back until details of the aquisition are finalised.

[qpwoei102938] 13/10/2009 09:05

I'm a buyer again now.

Navyan - the price has doubled in less than 3 months. What do you want?

[skidaddle] 13/10/2009 09:01

Well I got that wrong.

I wouldn't have bought above 40p. But I might even buy more if it goes much lower.

[navyan] 13/10/2009 08:49

seller is still around, this share is disappointing really comparing to other gold stocks.

[skidaddle] 13/10/2009 08:43

Then you had better consider that the resistance in late September is now support. So you won't get these for less than 40p IMHO.

[qpwoei102938] 13/10/2009 08:41

Great action today for me, as i'd like to buy a few more!

[robson1974] 13/10/2009 08:24

the canadian close on Friday was 0.60/0.63 so i imagine it will open at 0.70/0.77 based on these prices

the FVX deal is at 0.456 UME so it FVX should trade at 32/35c but it closed Friday at 17/18c !