Message: email to gary
hey guys I just emailed Gary and had a response with in 2 hours, sounds to me like there still working away to make things happen for us. Current market condition are bringing us down, I think by the end of the year we should see some better prices in gold and silver and that is going to help Gary/Jim get this ball rolling till then hang on and enjoy the ride.
Here the emails
hi Gary
I am a share holder of UC Resources and have been for the last two Years, I am very excited about this project and have been since I first invested. I also understand the hardship you guys have had with start up and the falling price of silver. I know that the mill has been closed because we can't profit from processing the left over tailings at this point in time with low silver prices, so that leaves mining hard ore as the next option in the game. You own some nice land resources with good grades of gold and silver but need to contract it out to have it mined, I was wondering if you have made a move to make that happen or if we are waiting for market recovery. You mentioned a little while ago about other prospects you were looking into as well for the time being, I was wondering if you are able or aloud to evaluate on what direction your thinking of take the company at this point.
I hope I'm not taking up to much of your time
your faithful investor
Thanks for your email. Your opinion on a number of fronts is very accurate. We came very close to commercial production status a number of times while silver was in the $28 - $32 range - then as it dropped - we had complications of equipment breakdowns, weather events - floods - tornado road wash out - etc , etc - that happened all as silver was dropping in price - over the last number of months we have been looking at partners on the hard road mining front as well as looking into Canadian properties - that we can add. We are in process of negotiating on financing on the hard rock mining. The grade on the hard rock runs about 600g/t silver - so even though it adds a complication - for processing - blasting rock , crushing before processing - the grade warrants the work. If silver prices cooperate then that will be timely.
I simply could not afford to lose money anymore on the tailings operations so I made the decision to shut the mill down . It has been a longer drag than I would have anticipated - but markets have been weak and financing arrangements not as easy to come by - and that has affected the whole industry - not just UC - many others all over the map.
So if we are successful in launching the hard rock mining side for UC - I think you will see a very weathered , very determined management team to see it to success. Both Jim and I have not been paid - and are doing what we can to turn things around as we do sincerely wish our investors a good return with a successful company. Has been tough, but we are a determined group.
21 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply