We have already endured all the rigamaroll for the court hearings to merge the old universal and vulcan, and we are expecting that shareholders will approve a name change to Altona Mining Ltd. That final nail in the coffin will happen soon (but meeting date yet to be announced).
The old management of URL is no more. There is a Fresh New Start now to Altona!
The current share price might be affected by its historic legacy of management, but there are some things that point to a meteoric move UP for the company in the next months.
1. The name change is absolutely vital in washing the past sentiment to the company.
2. The Finnish DFS is due to be revamped by the end of this current quarter, if not early next quarter. Since metal prices have also increased there should be a positive outcome to the study, knowing we now have got a plant already purchased for about 15% of the initial expenditure estimate.
3. The Chilean earthquake has already hit the price of copper, with a sharp move UP! It is believed that the copper price will be severely impacted due to infrastructure damages, particularly roads to ports, reducing supply from the world's largest copper producer!
Anyone contemplating selling their shares in URL at the moment has got to be crazy - and I will be very happy to take up your shares if you drop them any further today!
The short to medium term outlook for the merged company is looking very bright IMO.
URL Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
