Well I bit the bullet and rang one of the numbers that they have...

Well I bit the bullet and rang one of the numbers that they have listed in their reports after I got home and saw what the close was and how my portfolio balance fared (UEQ being more than half of my portfolio atm, it wasn't pretty lol).

Anyway I don't generally like rehashing details of a private conversation on a public forum but in the long term I have a lot of confidence in this story and this confidence was helped by the conversation with the MD.

The company is cashed up, has excellent staff and a wide array of promising projects; the conversation was encouraging in that I am certain that the company is certainly interested in mining uranium and not mining the market; it seemed clear to me that things are extremely well run and that the company is going about business development extremely competently.

There is a distinct lack of hype in UEQ, especially when compared to many other U juniors and other juniors in sectors such as the iron ore sector. I am convinced though that there is a great deal of substance here and imo a long term holder will be well rewarded from these levels. In the short term though it is hard to say what will stop the slide but it is very close to cash backing now and it is very hard to see a company of this quality being much lower than this. Then again it is hard for me to believe that they are this low as it is!

Cheers!