Uruguay Mineral (SEE LSE:OMI) Share Discussion Threads

[shanksaj] 29/10/2009 21:47

Gold back up to 1046$.

[thx1138] 29/10/2009 15:15

dogberry,

Why, is that the profit you made on your last deal?

[dogberry202000] 29/10/2009 13:45

Waiting for 14p again.

[uggly buggly] 29/10/2009 10:59

themoneymonster - u must be dealing in hundreds of shares, otherwise you would know it's next to impossible to sell in any volume. No bounce today, indicates another SELL signal imo.

[thx1138] 28/10/2009 23:50

It is a pretty simple concept to grasp, however emotionally it's somewhat more challenging :-)

[chrisis33] 28/10/2009 23:42

THX - simple game isn't it ... sell high, buy low ;)

If only we knew the tops and bottoms we'd all be laughing... on a serious note, I've been caught selling when I should have been buying and buying when I should have been selling a few times this year. Got the hang of controlling fear and greed a bit better now. Much to be said for the contrarian investor approach methinks. I'm 100% in cash and watching just now - considering whether to short the FTSE, or hang fire to hopefully pick up some bargains.

EDIT TO ADD - biggest learning point has been to cut my losses and sell early if I think I've made a poor decision on entry timing, and look to buy back in or invest elsewhere.

[thx1138] 28/10/2009 23:36

Yes, I'm glad I've only been buying and selling these for 3 or 4 months now, it's amazing how many threads are littered with sore losers who paid far too much for their shares when they should have been selling.

Now that they should be buying they're selling, daft sods.

[uggly buggly] 28/10/2009 18:16

Uggs told u to SELL, can only blame urself u novice

chuckle chuckle :)

[thx1138] 28/10/2009 13:51

What a plonker.

[uggly buggly] 28/10/2009 12:20

What a stinker

[thx1138] 28/10/2009 11:43

I'd be surprised if we breach support at 26 pence.

[adam] 28/10/2009 10:38

Yes but the deal is supposed to be consummated by this Friday. The selling of UGY/FVX is therefore a worry. The difference in price is much less than it was and reflects the risk of the deal not going through. Shareholders both sides all seem gung-ho. I can't see how there would be title issues with Pantanillo as it is being bought under option from Anglo. The option is presumably already paid for hence the $250k debenture. I don't think SAAD is selling, let alone voting, as ownership issues are not sorted out, or so was the intimation from DF at the AGM. I am perplexed. So leaving aside the arb, why would UGY be a sell given asset backing, plant and production? forced seller?

[skidaddle] 28/10/2009 10:28

At some point the fundamentals of UGY should override the downwards pull of FVX.

Lets not forget UGY was up at 40p before the uncertainty of the current situation came about. And I don't foresee any great drop in the gold price.

[daz] 28/10/2009 10:20

At the moment with FVX closing at 18c to buy, it converts into UGY at just under 23p. It's clear there's no reason to buy the UK shares when you can buy them at a discount by buying FVX

Given the current market uncertainty, FVX could quite easily fall again, which will put further pressure on the UGY price.

[thx1138] 28/10/2009 10:01

I haven't got time to do the math but I'm aware FVX was a cheaper way into UGY and presumably that differential will reduce as Daz points out.

However in my mind on fundamentals UGY remains very cheap, what did FXV close at?

[skidaddle] 28/10/2009 09:47

If that does become the case then buying UGY would be the best bet. Somewhere around 27p?

[daz] 28/10/2009 09:43

Agree with Kooba about the arbitrage causing the fall, it's easy money to sell your UK holding and buy FVX at a discount to the UK price.

I think the fall today reflects the fall in FVX overnight.

At some stage the 2 prices will come into line but at the moment with markets weak, it seems more likely that the UK price will fall to meet the Canadian FVX price, rather than the other way round.

[skidaddle] 28/10/2009 09:39

I think its uncertainty that is keeping this one down now.

Once the deal is done or not, then the fundamentals, which are good, will take over.

[thx1138] 28/10/2009 09:37

I'm back in again with just a few, might add some more if the weakness continues.

[kooba] 28/10/2009 09:19

told there are arbitrage sellers out of canada...could be against ume itself or fvx.picked up 15k at 29.8p and will add on weakness,seems a good opportunity mid term.
pi's must feel there has been a crash as much buying over the past few months has centred on rubbish banks and the likes of yell...taking its toll on small co's generally.

[mg78] 28/10/2009 09:14

This is taking a right old beating today...and on virtually no sell volume on the LSE or PLUS mkt. Crazy.

[rivaldo] 27/10/2009 14:56

An update today from Olivut Resources:



"Concurrently, Olivut is ramping up for exploration in Uruguay during Canada's winter. As reported on May 26, 2009, the Company signed an Option Agreement with Uruguay Mineral Exploration Inc. ("Uruguay Minerals" or "UME" - TSX-V: UME and LSE: UGY) whereby Olivut may earn up to 80% interest in diamond prospecting and exploration licenses (the "Properties") located in northern Uruguay, South America. These Properties are held by Cinco Rios S.A., a wholly owned subsidiary of UME. Olivut must incur a minimum expenditure of $CDN250,000 by June 1, 2010 and a total of $CDN750,000 by December 31, 2011 in order to acquire a 51% interest in the Properties. Olivut will act as operator for the exploration program.

The stable craton of Uruguay is consistent with that of southern Africa. A combination of excellent geochemistry and geophysical targets will provide the focus of initial exploration efforts that are planned to include sampling, geophysics and drilling."