Everyone has forgotten these statements by now. It's a shame to see shares accumulated at bargain basement prices - but it is what it is! I would remind the HCCA - brush up on your Chinese! LOL
Looking forward, we will be reaching out to the Chinese, who have expressed an interest in the project in the past. They tend to have a longer-term view regarding resource inventory. In the meantime we plan to move the project forward, and we have several permitting initiatives under way that we will build upon in the coming months and years,” said Larson.
The story is not that complicated. USEG will eventually get the plan of operations approved. If the plan was not up to snuff the forest service would have already rejected it. All they are doing is making USEG tweak it. If there is a federal land exchange the mine is worth a lot more with an approved plan of operations.
After the approval management plans to market the mine for a joint venture or an outright sale. The mine is worth more than the stock is trading for.
shamagi, here in lies the problem it is the Larsons. Almost 2 months without any update on anything. I can guarantee you this will be another losing quarter. Unless management announces something new and there is about 7 different items I can come up with bottom prices is what your going to see. Hcca is mostly out of the game with useg. Stronger hands in the area are moving forward with the negotiations. As for the Chinese it has been over 2 years since Thompson creek left, doubtful but one never knows..........The real questions is does Keith really want to rid the company of Mt Emmons. Makes it a pure play and I wonder if Keith would want that.........There is more to the story!
I agree there is more to the story than we know. They had a plan of operations submitted in 2010 and were notified on 3 May that plan met the requirements specified under 36 CFR 228,4 and 228,5 and was accepted by the GMUG.(National Forest). The last issue the asked to be addressed before everything was cancelled was requesting analysis about helicopter noise. Since the last plan had been accepted I don't understand why this plan would be a problem to get to the same status we left off at before. They notified USEG at that time that a field analysis of their plan would not begin until the area was snow free. They were also informed that their plan would be developed into a proposed action to be analyzed under NEPA. As we know when TC pulled out everything stopped but they were well along. The company should explain why they couldn't get back to that point very quickly. Even if they started over they had an approved baseline to work from. Management doesn't seem to be communicating the facts. Something seems to be secret that doesn't need to be secret.
Agree Barry. Mt. Emmons is the best poison pill he has. I sincerely believe that is why he sold the BEXP/Zavanna interest - it was too attractive to others. Management & the Board have one objective - get as much of the economic value of USEG into their hands while they can. There is no one on the Board that cares about the common shareholder. If there were, I would believe a management team that has lost money in 18 of the last 19 quarters would have been fired instead of getting a compensation study.